SAARC Transmission Lines Market Size - By Voltage (132 kV to 220 kV, 221 kV to 660 kV, > 660 kV), By Conductor (Conventional, High Temperature) & Forecast, 2024 - 2032

SAARC Transmission Lines Market Size

SAARC Transmission Lines Market was valued at USD 1 billion in 2023 and is set to grow at 7.1% CAGR from 2024 to 2032, due to the integration of renewable energy sources, technological advancements, and increased cooperation among regions. In addition, active support from the respective governments coupled with public & private investments is complementing the industry. For instance, in October 2021, the Nepal government decided to invest over USD 2.75 billion in the next four years in the construction of infrastructure for electrical supply.

The expansion and modernization of electricity infrastructure in rapidly growing economies including India, Bangladesh, and Nepal are driving significant demand for transmission lines. These countries are investing heavily in upgrading their power grids to meet the rising energy needs of their urbanizing populations. As a result, there is a substantial market for the construction of new high-voltage transmission lines and the refurbishment of existing ones, which in turn will foster the market growth.
 

The transition towards cleaner energy sources has catalyzed the construction of transmission lines, facilitating the connection between distant renewable energy generation sites, like solar and wind farms, and densely populated areas. This shift is not only bolstering the reliability of the grid but also advancing sustainability goals. Market dynamics are being significantly shaped by technological innovations and both private and public investments in the transmission line sector.
 

The rapid adoption of ultra-high-voltage direct current (UHVDC) transmission technology in countries including India & Bangladesh is gaining prominence due to its capacity to transmit electricity across exceptionally long distances with minimal energy losses. Private companies and investors were increasingly involved in the development and financing of transmission projects, contributing to market growth and innovation.
 

COVID- 19 Impact

The COVID-19 pandemic has had a multifaceted impact on the SAARC transmission lines market. Initially, the pandemic disrupted ongoing projects due to lockdowns, labor shortages, and supply chain interruptions. This led to delays in the construction and commissioning of transmission lines, causing setbacks in infrastructure development across the continent. In addition, the economic challenges brought about by the pandemic strained government budgets, diverting funds from infrastructure projects, including those related to transmission lines. As the pandemic highlighted the importance of reliable electricity supply for healthcare, remote work, and education, it also underscored the need for resilient transmission networks.
 

SAARC Transmission Lines Market Trends

Rapid urbanization & economic growth coupled with increasing renewable energy integration across geographies including India, Bangladesh, Nepal among others ae driving the energy needs, thereby contributing to the expansion of transmission lines in the region. The industry growth prospects owing to increased electricity demand, driving the need for new and upgraded transmission lines to meet the growing power requirements of urban areas. In addition, Many SAARC countries were investing in renewable energy sources, particularly solar and wind power. As a result, the transmission lines market saw a surge in demand for infrastructure to connect remote renewable energy generation sites to urban centers.
 

Cross-border interconnection projects along with increasing investments in grid modernization is securing an ideal growth prospect to the industry. Collaborative efforts are underway to establish cross-border interconnections for the exchange of electricity among SAARC member countries. These interconnections aimed to improve energy security, share surplus power, and enhance the overall reliability of electricity supply in the region. In addition, several SAARC countries were investing in the modernization of their electricity grids to make them more efficient, reliable, and resilient. This involved upgrading and expanding the transmission infrastructure.
 

SAARC Transmission Lines Market Analysis

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.
   

SAARC Transmission Lines Market Share

The SAARC transmission lines industry is on the cusp of significant expansion, essential for improving energy accessibility, dependability, and sustainability in the region. Key market players are directing their efforts toward fostering collaborations and partnerships to address the substantial financial requirements for upgrading the electric infrastructure. The industry is marked by both established global players and regional companies, where the competition is driving innovation and efficiency, benefiting customers in terms of better technology and competitive pricing across the industry includes:

• Nexans
• UNIVERSAL CABLE LIMITED.
• Apar Industries Limited
• Gupta Power Infrastructure Ltd.
• Siemens Energy
• Prysmian Group
• CTC Global Corporation
• KEC International Ltd.
• Special Cable Pvt. Ltd.
• Surana Group of Industries
• Galaxy Transmissions Pvt Ltd.
• CMI Limited
• Sterlite Power
• Himalco Cables
• Sumitomo Electric Industries, Ltd.
• Bekaert

SAARC Transmission Lines Market News

• In September 2023, the government of India & Nepal under 14th meeting of Joint Technical Team (JTT) came into an agreement to enhance their cross-border transmission infrastructure between the countries. The two nations reached an understanding to expand capacity of the 400kV Dhalkebar-Muzaffarpur cross border transmission line and speed up the completion of smaller capacity cross-border power lines that are currently under construction. This is anticipated to further propel the industry dynamics over the projected timeline.
   
• In December 2022, the government of India announced to invest over USD 29.6 billion to upgrade grid for clean power, thereby anticipated to bolster transmission lines deployment across the renewable sector.
   

This SAARC transmission lines market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘ckm, & USD Million’ from 2019 to 2032, for the following segments:

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By Volatge

• 132 kV to 220 kV
• 221 kV to 660 kV
• > 660 kV

By Conductor

• Conventional
• High Temperature
• Others

The above information has been provided for the following countries across the region.

• India
• Bangladesh
• Bhutan
• Nepal