Power Transmission Lines and Towers Market size to exceed $48bn by 2028

Power Transmission Lines and Towers Market size is anticipated to surpass USD 48 billion by 2028, as reported in the latest study by Global Market Insights Inc.
 

The power transmission lines and towers industry will experience an upsurge owing to continuous urbanization along with growing energy demand across the world. In addition, rapid expansion of high tension and ultra-high tension grid infrastructure to meet the increasing energy demand in industrial and commercial sectors will positively influence industry scenario. Negligible short-circuit current, minimal power losses across transmission grid networks coupled with greater controllability will further enhance product penetration.
 

Flexible product specifications consisting of effective designs and advanced structures will propel the power transmission tower market statistics

Transmission towers segment exceeded an annual installation of over 1 million Metric Tones in 2020 and is expected to register more than 2% CAGR till 2028. Integration of innovative designs, advanced structures, high corrosion resistance, and low overall maintenance costs will enhance the transmission tower industry expansion. Rapid investments in the renewable energy sector combined with the implementation of smart technologies across power transmission systems will further boost the product demand. For instance, in March 2020, CTC Global Inc. launched ACCC InfoCore System to improve the conductor technology, ensuring accurate and fast assurance by utilizing infrared light system, robust data-capture methodology, and special fibers in the core, thereby fastening the integrity of conductors in a few minutes.
 

Browse key industry insights spread across 600 pages with 1,159 market data tables & 60 figures & charts from the report, “Power Transmission Lines And Towers Market Data By Product (Transmission Lines, Transmission Towers), By Conductor (Conventional, High Temperature}, By Insulation (PVC, XLPE), By Voltage (132 kV to 220 kV, 221 kV to 660 kV, > 660 kV), By Current (HVAC, HVDC), By Application (High Tension, Extra High Tension, Ultra High Tension), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share, and Forecast, 2021 – 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/power-transmission-lines-and-towers-market

Growing demand for smart grid infrastructure along with consumer inclination toward adopting renewable resources will augment the power transmission lines and towers market size

Ongoing technological advancements along with rapid investments in electrical infrastructure will accelerate the industry landscape. In addition, paradigm shift toward smart grid infrastructure integration across existing transmission networks coupled with increasing consumer inclination toward the adoption of renewable energy resources will stimulate conventional conductor penetration. Favorable government policies in line with profitable raw materials will influence the manufacturers to develop high temperature conductors.
 

Ongoing commercial development coupled with rapid urbanization will foster the 132 kV to 220 kV transmission line industry growth

The 132 kV to 220 kV line segment is expected to surpass USD 9 billion at a CAGR of around 4% till 2028. The defined voltage range has experienced strong industry penetration over the past years owing to relatively large unit installations for a defined transmission capacity. Ongoing urbanization as well as commercial expansion combined with advanced distributed generation technologies integrated with renewable energies will further complement the power transmission lines and towers market outlook.
 

Paradigm shift toward retrofitting & refurbishment along with expansion of micro grid will drive business dynamics across Asia Pacific

China power transmission lines and towers market is anticipated to reach over USD 800 million by 2028. Shifting trend toward refurbishment and retrofitting of existing distribution networks combined with increasing investments in the sustainable energy sector will accelerate the business landscape. Expansion of extra high tension and ultra-high tension grid infrastructure across the developing countries will complement the business scenario.

Enhancement in digitalization and other industrial activities post pandemic outbreak will boost the business landscape

The COVID-19 pandemic had a slight impact on the overall industry growth in 2020. The transmission lines & towers industry witnessed a decline in sales following the restricted labor movement and delay of numerous transmission line & tower projects due to limited investments from public & private players. However, considering the slowdown in coronavirus-infected cases, the industry is set to regain its lost strength by the end of 2021.

Strategic partnerships along with product developments and innovations among industry players will stimulate the business dynamics

The prominent players operating across the power transmission lines and towers market include Sumitomo Electric Industries Ltd., ZTT International, APAR Industries, LAMIFIL, Nexans, Neccon, CTC Global, Inc., LUMPI BERNDORF, 3M, Gupta Power Infrastructure, ZMS Cable, Midal Cables, Hindustan Urban Infrastructure, Alfanar, Prysmian Group, CABCON India, Sterlite Power, Tropical Cable and Conductors, Gulf Cable and Electrical Industries Co., KEI Industries Limited, Riyadh Cables Group Company, LS Cable & System, Energya Cables Saudi Arabia, Southwire Company, LLC, SWCC SHOWA HOLDING, Special Cables, Elsewedy Electric, Alcon Marepha, Arrow Cables, Galaxy Transmissions, Kelani Cables PLC, Bekaert, Tratos, CMI Limited, Eland Cables, Skipper Limited, KEC International, CG Power and Industrial Solutions, Jyoti Structures, MasTec, SAE Towers, and Tokyo Electric Power Company Holdings, Inc.