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SAARC Transmission Lines Market Trends

Report ID: GMI7209
Published Date: Oct 2023
Report Format: PDF

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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.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market valuation of SAARC transmission lines was size surpassed USD 1 billion in 2023 and is poised to expand at 7.1% CAGR through 2032, driven by the rapid growth of infrastructure projects, the integration of renewable energy sources, technological advancements, and increased cooperation among regions.

The 132 kV to 220 kV voltage transmission lines segment is projected to depict a 7.7% growth rate from 2023 to 2032, owing to the rising need to expand and strengthen medium-voltage transmission networks and massive investments in renewable energy projects.

India transmission lines industry is set to expand at over 8.2% CAGR from 2023 to 2032, owing to the persistent drive to reinforce and extend the transmission infrastructure due to the rising electricity requirements of the nation.

The major firms engaged in the SAARC transmission lines market are Nexans, UNIVERSAL CABLE LIMITED., Apar Industries Limited, Gupta Power Infrastructure Ltd., Siemens Energy, Prysmian Group, CTC Global Corporation, KEC International Ltd, Himalco Cables, and Sumitomo Electric Industries, Ltd., among others.