Transmission Towers Market Size By Voltage (132 kV to 220 kV, > 220 kV to 660 kV, >660 kV), By Structure (Double Circuit Tower, Waist Type Tower, Tubular Steel Pole), COVID-19 Impact Analysis & Global Forecast, 2022 - 2028

Transmission Towers Market Size

Transmission Towers Market size exceeded USD 17 billion in 2021 and is anticipated to grow at over 4% CAGR from 2022 to 2028. The shifting inclination toward secure & sustainable power networks in line with the ongoing modernization of conventional T&D structures will stimulate the industry outlook.
 

Rising construction activities across the commercial sector have influenced state utilities in terms of the installation of low & medium-voltage lines and other electrical structures. In addition, the development of smart grid networks combined with the growing requirement for a secure & reliable power supply will foster the market growth.
 

Growing demand for the revamping & replacement of traditional aging infrastructures along with government policies & regulations for reduced emissions will sway the transmission towers market landscape. Rising construction activities across the commercial sector, followed by the continuous installation of low & medium voltage lines and other electrical equipment have instituted a favorable business scenario. For instance, as per the U.S. Central Bureau, the spending on commercial construction activities in the first 11 months of 2021 was USD 1,463 billion with an increase of around 7% compared to 2020.
 

Transmission Towers Market Analysis

The 132 kV to 220 kV transmission towers market is poised to reach about USD 2 billion by 2028. Moreover, the replacement and upgrade of aging grid networks coupled with the ongoing microgrid integration will bolster market share. The ongoing expansion of cross-border interconnection networks and the large-scale deployment of smart grid infrastructures will accelerate the product demand. Furthermore, the growing need for an uninterrupted power supply, followed by favorable government standards for intelligent grid characteristics will propel transmission towers installations.
 

An increasing number of renewable projects including solar & wind power, followed by high investments for the replacement of existing lattice towers will boost the demand for 221 kV to 660 kV transmission towers. Additionally, ongoing pipeline projects for the connection of interstate electric grid networks with advanced & efficient transmission overhead lines will fuel the business landscape. Growing installations of long-distance high voltage overhead cables to reduce line losses across the interstate electrical transmission network will broaden the industry spectrum.
 

The increasing electricity demand and favorable regulatory reforms on the expansion of existing grid infrastructures will positively impact the double circuit transmission towers market revenue. Shifting utility focus on safe & reliable electric grid networks along with rapid technological enhancements for the refurbishment of distribution networks will spur the industry outlook. Furthermore, a paradigm shift toward advanced material composite adoption combined with the integration & deployment of renewable power resources in distributed energy networks will drive the market demand.
 

The waist-type tower industry is estimated to witness an annual deployment of more than 950 ‘000 MT by 2028. The development of government standards for the designing & construction of transmission structures has complemented the business scenario.
 

The North America transmission towers market size will observe a growth rate of nearly 6% through 2028.  The rapid development of new interstate transmission line networks along with the ongoing refurbishment & reconstruction of T&D infrastructure will enhance the business spectrum. Promising government initiatives for the adoption of efficient & advanced technologies across existing establishments combined with robust renewable integration will propel market growth across the commercial sector. However, the expansion of T&D flexibility & capacity, traditional grid network upgrades, and built-in advanced IoT-enabled units is set to spur market statistics. Stringent government policies for the adoption of energy-efficient systems will complement the industry outlook.
 

 Impact of COVID-19 Pandemic

The COVID-19 pandemic outbreak affected the overall transmission towers market. The power sector being the backbone of the economy experienced a minimal impact. In addition, major renewable projects were commissioned without any delay. Moreover, the rising adoption of sustainable power sources across the commercial & industrial sectors coupled with public & private partnerships for the replacement of existing low, medium & high-voltage distribution networks will boost the industry potential.
 

Transmission Towers Market Share

Inorganic growth ventures and strategic implications including mergers, contracts & joint ventures among key players will augment the market outlook. For instance, in June 2021, Quanta signed a joint venture with LUMA Energy, LLC. (LUMA) and ATCO Ltd., a Canadian Utility Limited. The joint venture commenced the O&M of Puerto Rico’s electric power transmission & distribution system as per the agreement (supply-term agreement) between LUMA and the Puerto Rico Electric Power Authority (PREPA) where both Quanta and ATCO own 50% stakes in LUMA. The joint venture is in line with the company’s strategy to deliver a reliable & flexible power grid with effective infrastructure, delivering enduring economic & social benefits to the people of Puerto Rico.
 

Eminent players operating across the transmission towers market include

• Utkarsh India Limited
• Jyoti Structures Limited
• KEC International Ltd.
• QUANTA SERVICES
• NEXANS
• Valard Construction
• Burns & McDonnell
• PLH Group
• Wilson Construction
• Power Line Services, Inc
• MDU Construction Services Group
• Valmont Industries, Inc.
• Sabre Industries, Inc.
• MEYER UTILITY STRUCTURES, LLC.
• SAE Towers
• M?TA?
• KOCAER STEEL
• Skipper Limited
• Ganges Internationale
• ISA
   

This transmission towers market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘MT’, ‘Number of Towers’ & ‘USD’ from 2018 to 2028 for the following segments:

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Market, By Voltage

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

Market, By Structure

• Double circuit tower
• Waist type tower
• Tubular steel pole
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • Sweden
  • Italy
  • Netherlands
  • Spain
  • France
  • Russia
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • New Zealand
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Egypt
  • Turkey
  • Kuwait
  • Nigeria
  • Oman
• Latin America
  • Brazil
  • Chile
  • Peru
  • Argentina