A recent report published by Infinium Global Research on power transmission towers and cables market provides in-depth analysis of segments and sub-segments in global as well as regional power transmission towers and cables market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional power transmission towers and cables market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global power transmission towers and cables market. According to the report, the global power transmission towers and cables market is projected to grow at a CAGR of 5.8% over the forecast period of 2018-2024.
Power transmission towers and cables are a pivotal part of the power transmission infrastructure. These components are used for transmission and distribution of electricity from power generation facilities to the end users. Electricity can be transported over a long distance through cables that serve as a medium for transporting electricity. When transmitting power, high-voltage transmission is preferred to save energy. Air cannot conduct the heat dissipated by the electric cables that are why cables are engineered in such a way that it offers no resistance to the flow of electric current by increasing the diameter of the conductor. When the weather is hot, the cables tend to be looser as the conductor will expand but when it is cold, the cable will contract.
Need for a sustainable supply of electricity in a number of industrialized nations is driving the growth of the power transmission towers and cables market. In addition, rising investments to establish a sustainable network along with satisfactory improvements pertaining to the integration of grid integration of renewable systems and vast presence of distributed power systems is boosting the growth of the power transmission towers and cables market. The market for power transmission cables will also benefit the rising integration of renewable energy resources and rising demand from the sectors of underground and submarine power transmission. However, wireless transmission technologies can overcome the constraints of wired transmission which in turn is likely to hamper the growth of the power transmission towers and cables market. Furthermore, newer technologies and advanced innovations have been adopted to ensure sustainable power supply to demand centers and effective operation of power transmission lines. This, in turn, has provided several growth opportunities for the key players in the power transmission towers and cables market over the years to come
Among the geographies, Asia-Pacific held the major share in the power transmission towers and cables market followed by North America. China and India are the key countries driving the growth in the Asia-Pacific regions due to the rapid expansion of ultra-high-tension (UHT) networks to sustain the losses accrued from the long-course electrical supply. Re-establishment of electric grid infrastructure across war affected GCC nations to sustain the economic growth is anticipated to gain a positive outlook for the power transmission towers and cables market. In addition, rising infrastructural investments along with rising energy consumption are anticipated to drive the North American regions. On the other hand, Huge investments in power transmission infrastructure by countries such as Saudi Arabia and others are expected to drive the demand for power transmission towers and cables market.
The report on global power transmission towers and cables market covers segments such as voltage, current, and type. On the basis of voltage, the global power transmission towers and cables market is categorized into 132 kV to 220 kV, 221 kV to 660 kV and > 660 kV. On the basis of current, the global power transmission towers and cables market is categorized into HVAC and HVDC. On the basis of type, the global power transmission towers and cables market is categorized into power transmission towers and power transmission cables.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global power transmission towers and cables market such as ABB, Siemens, Kalpataru Power Transmission Ltd., Sumitomo Electric Industries Ltd., Southwire Company LLC, KEC International Ltd., Nanjing Daji Iron Tower Manufacturing Co. Ltd., Sterling & Wilson, and Arteche.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global power transmission towers and cables market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of power transmission towers and cables market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the power transmission towers and cables market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the power transmission towers and cables market to understand the present and future trends in this market and formulate their strategies accordingly.
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