SAARC Transmission Lines Market Analysis

SAARC Transmission Lines Market Analysis

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Based on voltage the 132 kV to 220 kV voltage transmission lines industry is anticipated to observe around 7.7% growth rate from 2023 to 2032. Driven by the need to expand and strengthen medium-voltage transmission networks to accommodate urbanization and industrialization. Investments in renewable energy projects are also propelling this segment as they demand efficient grid connections.
 

• The transmission lines market for 221 kV to 660 kV voltage range is witnessing a prominent growth prospect owing to growing emphasis on cross-border interconnection projects.
   
• Many countries in the region are collaborating to establish higher voltage transmission lines, enabling long-distance electricity trade, enhancing grid resilience, and fostering economic cooperation.
• For voltages greater than 660 kV, there's a growing interest in ultra-high-voltage direct current (UHVDC) transmission lines. UHVDC technology enables efficient long-distance power transmission with minimal losses, a key advantage in vast and geographically diverse region.
   
• As countries look to harness renewable energy sources in remote areas, UHVDC lines are becoming integral to transporting clean energy efficiently, thereby complementing the business scenario.
   

Based on conductor, the high temperature transmission lines market is set to showcase 8.4% CAGR through 2032. The market is undergoing a transition towards the adoption of high-temperature transmission lines, primarily propelled by the imperative to enhance power grid reliability and electricity supply. High-temperature lines offer the advantage of accommodating higher current loads while minimizing energy losses, rendering them particularly well-suited for the extensive and diverse landscapes prevalent in the region. In addition, the region's growing commitment to the integration of renewable energy sources, often located in remote areas, underscores the necessity for high-temperature transmission lines to efficiently transport clean energy to urban hubs.
 

• The conventional transmission lines play a foundational role in ensuring reliable power supply to both urban and rural areas in the region.
   
• The ongoing trend in this segment involves substantial investments in expanding and upgrading transmission networks to accommodate the rapid urbanization and industrialization occurring across many countries in the region.
   
• Various nations seek to meet their growing energy demands, conventional transmission lines are crucial for maintaining grid stability, reducing transmission losses, and facilitating the efficient flow of electricity.
   
• Although advanced transmission technologies are emerging, conventional lines remain a fundamental component of the region's energy infrastructure, supporting economic growth and power reliability.
   

India transmission lines market is estimated to attain a CAGR of over 8.2% through 2032. The persistent drive to reinforce and extend the transmission infrastructure in response to the swiftly escalating electricity requirements of the nation is a key catalyst for market expansion. In addition, the rapid urbanization, industrial growth, and initiatives aimed at electrifying rural areas are spurring substantial investments in both the development of new transmission lines and the modernization of the grid system.
 

In November 2022, the government of India planned to invest a total of USD 34.2 billion by the year 2030 to establish an extensive interstate transmission network (ISTs) aimed at efficiently evacuating renewable energy. This strategic investment is vital in ensuring the smooth and seamless transmission of renewable energy generated in various states to the consumption centers across the country.
 

• Increasing emphasis on grid resilience and smart grid solutions along with rising renewable energy integration across the country will complement the business scenario.
   
• The government's ambitious renewable energy targets have led to the development of transmission lines connecting renewable energy-rich states to demand centers. This not only supports the adoption of clean energy but also necessitates advanced transmission technologies.
   
• A shift towards cross-border interconnections with neighboring countries, enhancing regional energy cooperation and trade is further expected to spur the market growth over the forecasted timeframe.