Reliable Data You Can Trust
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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 the 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.
Power transmission towers and cables are essential components of electrical power networks, intended to facilitate the efficient and safe distribution of electricity over long distances. Power transmission towers are tall constructions made up of steel or concrete that support high-voltage power lines. Transmission towers are placed at regular intervals along a power line route, typically across large distances transversely to various landscapes. They provide structural support for the electrical conductors and wires that carry high-voltage electricity from power plants to substations or in between substations. Power transmission cables are the electrical cables that carry electricity from one point to another within a power transmission network. Transmission cables can be overhead or underground, supported by transmission towers, depending on the specific requirements and environmental considerations of the transmission route. These power transmission towers and cables transmit the electricity from generating stations to the distribution points and provide routes for various commercial, household, and industrial applications.
Increasing electricity demand is driving the power transmission towers and cables market. As populations increase, industrialization expands, and technological advancements proliferate, the need for a reliable and efficient electricity supply rises accordingly. This demand necessitates the enhancement and extension of transmission networks, including power transmission towers and cables to deliver electricity from generation sources to consumption centers efficiently. Moreover, various existing power transmission towers and cables are aging and need to be replaced or upgraded to ensure the reliability, efficiency, and safety of the electricity grid, boosting the demand. Enhancement in grid resilience against natural disasters and extreme weather events also requires investments in robust transmission infrastructure, including towers and cables designed to withstand various environmental conditions. Thus, owing to these factors the demand for power transmission towers and cables is rising, which further boosts the market.
The rising number of renewable energy integrations, such as wind and solar power, is boosting the power transmission towers and cables market. Unlike traditional fossil fuel-based power plants, renewable energy sources are often located in remote and geographically diverse areas with abundant natural resources. This decentralization of generation requires extensive new transmission infrastructure to connect these sources to existing power grids and consumption centers. Power transmission towers and cables play a crucial role in transmitting power sources, as they help support the long-distance transmission of electricity from renewable energy generation facilities to urban centers and industrial hubs. This increases the demand for power transmission cables and towers. Furthermore, government policies and initiatives aimed at improving energy security, promoting grid modernization, and reducing transmission losses often drive investments in new transmission infrastructure projects, which have increased demand for these towers and cables. Thus driving market growth.
Complications regarding obtaining permits and approvals for new transmission infrastructure projects may hamper market growth as this process is prolonged and complex and requires a long time for approval owing to environmental regulations, land acquisition issues, and public opposition. Environmental regulations often require in-depth assessments of potential impacts on wildlife habitats, water bodies, and other ecosystems. This adds time and costs to project development. Additionally, community opposition to new transmission lines also delays or pauses the projects, as residents may express concerns about health hazards and other disruptions during the construction of the projects.
UHV transmission involves transmitting electricity at voltages significantly higher than traditional high-voltage systems, typically 800 kV and above. The development and expansion of ultra-high voltage (UHV) transmission networks create lucrative opportunities for the market as they offer efficiency and reduced losses, grid integration, interconnection, and infrastructure modernization. Moreover, stakeholders in the power transmission towers and cables market may focus on the research and development of UHV technologies and collaborate with utilities and policymakers to facilitate regulatory approvals, infrastructure investments, and the adaptation of manufacturing capabilities to meet the technical requirements of UHV systems.
Asia Pacific is anticipated to dominate the market during the forecast period owing to its growing economies, rapid industrialization, and increasing energy demands in developing countries including India and China. Additionally, the market is mounting owing to its continuous infrastructure improvements, such as the installation of new transmission lines and the upgrading of old ones in the region. North America is expected to be the fastest-growing region during the forecast period, owing to the increased use of renewable energy sources and the enforcement of strict restrictions on energy effectiveness in the region. The region is also focusing on grid modernization and the integration of renewables, thus driving market growth in the region.
| Report Coverage | Details |
|---|---|
| Market Size in 2023 | USD 37 Billion |
| Market Size by 2032 | USD 61 Billion |
| Growth Rate from 2024 to 2032 | CAGR of 6.15% |
| Largest Market | Asia Pacific |
| No. of Pages | 300 |
| Market Drivers |
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| Market Segmentation | By Type, By Voltage, By Current, and By Application |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global power transmission towers and cables market provides a detailed analysis of segments in the market based on Type, Voltage, Current, and Application.
· Power Transmission Cables
· Power Transmission Towers
· 132 kV to 220 kV
· 221 kV to 660 kV
· > 660 kV
· HVAC
· HVDC
· Residential
· Commercial
· Industrial
· ZTT Group
· Skipper Limited
· Ramboll Group A/S
· KEC International Ltd.
· Tata Power
· KALPATARU POWER TRANSMISSION LIMITED
· SAE TOWERS
· Bekaert
· Zhejing Shengda Steel Tower Co. Ltd.
· Nexans
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an 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 the power transmission towers and cables market. Moreover, the study highlights current market trends and provides forecasts from 2024-2032. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.