U.S. Transmission Lines Market Size - By Voltage (132 kV to 220 kV, 221 kV to 660 kV, > 660 kV), By Conductor (Conventional, High Temperature), Growth Opportunities & Forecast, 2023 - 2032

U.S. Transmission Lines Market Size

U.S. Transmission Lines Market size was valued at USD 139 million in 2022 and is poised to register around 25.9% CAGR from 2023 to 2032. Evolving energy landscape along with the need to expand & upgrade the country’s electrical infrastructure is bolstering the transmission lines industry. Growing focus on modernization & grid resilience owing to old & aging electrical infrastructure in the country is further anticipated to complement the business outlook in the U.S.
 

Aging transmission infrastructure, coupled with the increasing frequency of extreme weather events, has prompted investments in grid reliability and resilience measures. These include the integration of advanced technologies like phasor measurement units (PMUs) and high-voltage direct current (HVDC) transmission lines. Additionally, the transition to cleaner energy sources, including wind and solar, requires the development of transmission lines to connect remote renewable generation sites to population centers. This trend aligns with efforts to reduce carbon emissions and promote sustainability, thereby compelling the market growth.
 

Increasing concentration on interregional and cross-border transmission projects along with adoption of smart grid technology is expected to add into the U.S. transmission lines market growth. The deployment of smart meters, grid automation systems, and demand response programs is enhancing the efficiency and reliability of transmission networks while enabling greater consumer control over energy usage. In addition, the increasing adoption of EVs necessitates investments in transmission lines to support charging infrastructure, promoting the growth of the electric vehicle market.
 

The increasing number of transmission line projects in the U.S. can be attributed to the imperative of grid modernization, the transition to cleaner energy sources, the need for interregional connectivity, technological advancements, the growth of electric transportation, and supportive policies. These factors collectively contribute to the expansion and enhancement of the nation's electrical infrastructure. Moreover, federal and state policies, along with financial incentives, are encouraging investments in transmission projects. Initiatives like the Renewable Portfolio Standards (RPS) and tax incentives for renewable energy development play a significant role in driving transmission line projects by creating a favourable regulatory environment and offering financial support, in turn complementing the business scenario.
 

COVID- 19 Impact

The COVID-19 pandemic has had a notable impact on the U.S. transmission lines market. Initially, the pandemic disrupted various aspects of the industry, including project timelines and supply chains. Many construction projects faced delays due to restrictions on movement, labor shortages, and disruptions in the availability of construction materials. Uncertainty surrounding the economic fallout from the pandemic also impacted project financing. Furthermore, the pandemic accelerated trends already underway, such as the transition to renewable energy sources. The U.S. continued to invest in transmission projects to connect remote renewable energy generation facilities to major population centers, supporting renewable energy goals and reducing carbon emissions.
 

U.S. Transmission Lines Market Trends

The U.S. transmission lines market is marked by trends focused on grid modernization, renewable energy integration, interregional connectivity, smart grid technologies, and support for the burgeoning electric vehicle sector. These trends collectively address the nation's energy needs, sustainability goals, and the imperative for a more reliable and resilient electrical grid. In addition, growing requirement for transmission projects to connect remote renewable generation sites to major population centers is another major driving factor. These projects enable the efficient transportation of renewable energy, support sustainability goals, and reduce greenhouse gas emissions.
 

Existing transmission infrastructure in the country is aging and in need of upgrades to ensure grid stability, reliability, and resilience. The modernization of transmission lines is essential for accommodating the growth of renewable energy sources and adapting to the increasing frequency of extreme weather events, which pose a significant threat to the grid's integrity, in turn is witnessing an increased number of transmission projects. Moreover, advancements in technology, including high-voltage direct current (HVDC) transmission, have made it more feasible to transmit electricity over longer distances with reduced losses. This technological progress has opened opportunities for projects that connect distant renewable energy resources to major load centers, thereby complementing the U.S. transmission lines market outlook

U.S. Transmission Lines Market Analysis

The 132 kV to 220 kV voltage transmission lines industry was worth over USD 6.2 million in the 2022.  The 132 kV to 220 kV segment is experiencing substantial expansion, primarily due to the imperative of enhancing and fortifying medium-voltage transmission networks to accommodate the surging urbanization and industrialization trends. Simultaneously, investments in renewable energy ventures are acting as a catalyst for this segment's growth, given their increasing demand for efficient and robust grid connections.
 

The U.S. transmission lines market within the 221 kV to 660 kV voltage range is experiencing a notable surge in growth, primarily driven by the increasing emphasis on cross-border interconnection projects. Numerous countries in the region are collaborating to establish high-voltage transmission lines, facilitating long-distance electricity trade, fortifying grid resilience, and fostering economic cooperation. In addition, growing adoption of 660 kV transmission lines for ultra-high-voltage direct current (UHVDC) technology which offers an efficient solution for long-distance power transmission with minimal energy losses, particularly advantageous in vast and geographically diverse states in the U.S. will boost the 660 kV voltage rating transmission lines.

The U.S. conventional transmission lines market exhibit growth rate of 25.3% up to 2032. Conventional conductors, typically composed of aluminum or aluminum alloy, have been the industry standard for many years due to their cost-effectiveness and reliability. The adoption trend for conventional conductors continues to be driven by their past establishments, readily available supply, and the need for grid stability. They remain a trusted solution for efficiently transporting electrical power across vast distances and meeting the energy demands of the United States.
 

The adoption of high-temperature conductors is gaining traction, particularly in areas where the existing grid infrastructure is nearing its capacity limits. As the demand for more efficient and higher-capacity transmission lines grows, high-temperature conductors are becoming integral to meeting the energy needs of the United States while optimizing the utilization of existing transmission corridors. This trend underscores the industry's commitment to enhancing the performance and resilience of the electrical grid.
 

U.S. transmission lines market is projected to observe around 25.9% CAGR through 2032, driven by a continuing commitment to fortify and extend the transmission infrastructure, essential to keep pace with the surging electricity demand in the country. Furthermore, the rapid processes of migration, industrialization, and upgrading initiatives are propelling investments for the new transmission lines and projects aimed at modernizing the grid.
 

A growing focus on grid resilience and implementing smart grid solutions, combined with the increasing integration of renewable energy sources nationwide, will synergize with the business landscape. The government's ambitious renewable energy goals have spurred the creation of transmission lines linking states abundant in clean energy resources with high-demand regions. This not only promotes the adoption of sustainable energy but also calls for advanced transmission technologies. Furthermore, the trend towards cross-border interconnections with neighboring nations to enhance regional energy cooperation and trade is anticipated to stimulate market growth.
 

U.S. Transmission Lines Market Share

The U.S. transmission lines market is at the rim of substantial growth, playing a pivotal role in enhancing energy access, reliability, and sustainability across the country. Major market players are actively engaged in establishing collaborations and partnerships as a strategic approach to secure the necessary financial support for upgrading the electric infrastructure. Moreover, leading industry participants are placing a high priority on forming alliances with government agencies and foreign financial institutions, with the objective of further expanding their footprint and operations within the regional market. The prominent players profiled in the market includes

• Nexans
• Siemens Energy
• ABB
• Prysmian Group
• CTC Global Corporation
• American Wire Group
• Quanta Services
• Southwire Company, LLC.
• Sumitomo Electric Industries, Ltd.
• Bekaert

U.S. Transmission Lines Market

• In February 2023, the U.S. government under its federal funding allocated USD 13 billion for expanding and modernizing the national power grid representing the most substantial single direct federal investment in essential transmission and distribution (T&D) infrastructure.
   
• In November 2021, the U.S. government decide to invest USD 13 billion in an effort to enhance and modernize the electric grid. This substantial funding aims to support transformative projects that will strengthen the reliability and resilience of the country's power grids. The investment will be made available through President Joe Biden's Bipartisan Infrastructure Law, which seeks to address critical infrastructure needs across various sectors, including energy.
   

This U.S. Transmission Lines market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘ckm’, ‘MVA’ & ‘USD Million’ from 2019 to 2032, for the following segments:

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By Voltage

• 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 country:

• U.S