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Investment in Smart Grids to Fuel Future Growth

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Electric transmission poles market

Electric transmission poles market

Electric transmission poles market

Dublin, September 16, 2022 (GLOBE NEWSWIRE) — The “Electricity Transmission Poles Market: Forecasts from 2022 to 2027” Report has been added to ResearchAndMarkets.com offering.

The global market for electricity transmission poles was valued at US$6.070 billion in 2020 and is estimated to grow at a CAGR of 6.92% over the forecast period to reach a total market size of US$9.695 billion in 2027.

Increasing global electricity consumption is one of the major factors that is driving the growth of the electricity transmission pole market across the globe. According to the IEA (International Energy Agency), the final consumption of electricity worldwide was 4.0 percent higher than the previous year and reached 22,315 TWh.

Of this total, the total final consumption of electricity in the OECD (Organization for Economic Co-operation and Development) countries was 9,728 TWh, while in the non-OECD countries, the total final consumption of electricity amounted to 12,587 TWh in 2018. India, Brazil, China and the Russian Federation were the four largest non-OECD electricity consumers in 2018, with China accounting for the largest share, accounting for 47.8 per cent of total non-OECD consumption .

Furthermore, electricity in non-OECD countries is dominated by industrial demand, which accounts for 50 percent of final electricity consumption. Much of the growing electricity consumption in OECD countries has taken place in the residential, commercial and utility sectors since 1974. The industrial sector remained the largest end-use sector for electricity consumption in 2018. However However, industry’s share of electricity consumption is now only marginally higher than that of the residential and commercial sectors.

The increasing number of factories in various industries is also a contributing factor to the growth of the global electricity transmission pole market. The increasing development of urban infrastructure in developing economies has fueled the construction of residential and commercial buildings, which is also driving the demand for electricity transmission poles, which has a positive impact on the growth of the global market for poles. of electricity transmission.

Developments in the global energy sector are also contributing to the growth of the global market for electricity transmission poles. Increasing demand for resilient and energy efficient power grids is another factor driving the growth of the global electricity transmission pole market. The rapid growth in demand for unimpeded electricity supply in various sectors has also boosted the revenues of market players in the global electricity transmission market.

Increasing investments, both public and private, in smart grids in both developed and developing economies will continue to pave the way for new distribution lines and poles as replacements for older infrastructure, thereby driving the overall growth of the power pole market. electricity transmission. In 2017, the Mexican Ministry of Energy announced plans to invest US$646 million in the implementation of a smart grid over the next eight years. In the APAC region, Southeast Asian countries are expected to invest more than US$8 billion in smart grid infrastructure between 2018 and 2025. The Government of Canada, through the Ministry of Natural Resources, announced funding of US$100 million dollars for the development of smart grids in the country in 2018.

However, there has been a gradual shift towards advanced electrical infrastructure which is expected to limit the use of poles and cables, hampering market growth. For example, in Australia, under new rules devised by the Australian Energy Market Commission (AEMC), distribution companies across the country will be able to serve remote areas with independent power systems and avoid costly grid upgrades.

key developments

As a consequence of the growing need for efficient electrical networks and the increasing demand for energy in countries around the world, the electrical transmission pole sector has experienced substantial growth.

As stated by Consumers Energy in a May 2022 release, it will invest $100 million in 2022 to minimize the frequency and duration of power outages. To make the power grid more stable for Consumers Energy’s electricity customers, the energy provider will make significant changes to its high-voltage distribution (HVD) system. Consumers Electricity’s five-year, $5.4 billion Electrical Reliability Plan includes HVD upgrades this year as part of a larger effort to develop a more stable and resilient power system.

Segmentation

by materials

By area

By Geography

  • North America

  • USA

  • Canada

  • Mexico

  • South America

  • Brazil

  • Argentina

  • Europe

  • Germany

  • France

  • United Kingdom

  • Italy

  • Middle East and Africa

  • Saudi Arabia

  • United Arab Emirates

  • Pacific Asia

  • Porcelain

  • India

  • Japan

  • South Korea

  • Taiwan

  • Thailand

  • Indonesia

Key Topics Covered:

1. Introduction

2. Research methodology

3. Executive Summary

4. Market dynamics

5. Analysis of the global market for electricity transmission poles, by material

6. Analysis of the global electricity transmission poles market, by area

7. Global Electricity Transmission Poles Market Analysis, By Geography

8. Analysis and competitive environment

9. Company profiles

Companies mentioned

  • Koppers Inc.

  • KEC International Ltd.

  • limited pattern

  • Europoles GmbH & Co. KG

  • Nippon Concrete Industries Co., Ltd.

  • Weatherspoon and Williams LLC

  • Valmont Industries, Inc.

  • Nello Corporation

  • Nova Pole International Inc.

  • finntrepo ltd

For more information on this report, visit https://www.researchandmarkets.com/r/su4os0

Attached file

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