Power Transmission Lines and Towers Market Share Estimated to Reach USD 23.12 Billion by 2030

The Power Transmission Lines and Towers Market Share is estimated at USD 15.68 billion in 2023 and is projected to reach USD 23.12 billion by 2030, at a CAGR of 5.7% during the forecast period. This enhancement is majorly fueled by the growing energy requirement and the increasing incorporation of renewable energy sources into existing electric power grids.



Market Working Principle Emergence And Openings

The unprecedented energy demand due to increasing global population and fast-paced urbanisation has stressed the energy sector. This demand has created the urgency for expansion as well as modernization of transmission infrastructure to move more electricity in a reliable and efficient manner. The work of governments around the world is all about the same — not all obviously, but many — and that is pouring massive amount of resources in combining old systems while building new transmission lines and towers. The growing adoption of renewable energy sources across the globe is a major factor driving the market growth. Renewable resources like wind, solar and hydro power are generally located in rural areas, and to transport this clean energy to cities, it would require building long transmission lines. The U.S. alone has 36 high-voltage transmission projects under development, investing $64 billion to bolster grid reliability while connecting up to 187 gigawatts of new renewable energy capacity.

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Segmentation Analysis

The global power transmission lines and towers market has been segmented based on product type, voltage level, and application.

On The Basis Of Product Type, The Market Segmented Includes Transmission Lines, Transmission Towers A transmission line can be defined as a high-voltage electric power carrier, and a transmission tower supports them, meaning it helps keeping its position sheltered and above ground.

Segmentation by Voltage includes 132 kV to 220 kV, 221 kV to 660 kV, and above 660 kV. The voltages at which this transmission takes place are a function of his distance and quantity of power.

by Applications — are divided by high tension, extra high tension and ultra-high tension. These classifications correspond to the voltage levels and are selected according to the requirements of power transmission projects.

Country-Level Analysis

United States — The demand for electricity in the U.S. is bolstered by clean energy projects and massive growth in data centers. More than 2.5 TW of solar, wind, and storage projects are piled up in grid connection queues. Biden's plan: $1.5 billion for transmission corridorsA total of nearly 1,000 miles of power lines will include money never before spent to help renewables flow over the grid.

Germany: A pioneer in renewable energy, Germany is building out its transmission grid to bring in more green energy production. North-South transmission corridors are being developed for delivering wind power from northern parts of the country to the industrial south, ensuring balanced energy between different regions in the country.

China: The need for electricity has increased with rapid industrialization and urbanization. Ultra-high voltage (UHV) transmission lines — which cost the government a lot of money — will be used to transmit power generated on remote wind and solar farms located in the northwest of the country, to the east where the population and energy demand is located.

India: Ever-increasing population, rising energy demands, and augmentation of state power transmission capabilities. Case in point is Green Energy Corridor which will help to draw renewable energy into the national grid, reducing fossil fuel dependence and enabling green growth.

Saudi Arabia is working on transmission projects that can facilitate large-scale solar and wind energy developments, which is significant given the country has been focusing on diversifying its energy mix. Saudi Arabia's Vision 2030 plan focuses on developing renewable energy capacity, but strong transmission networks are needed to bring the energy that is clean and serves consumers.

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Competitor Analysis

The power transmission lines and towers market is fragmented with presence of several players working towards better market share by innovating products and entering into strategic partnerships and investing in new projects. Notable companies include:

APAR Industries Ltd. — into conductors and cables, APAR Industries has focused on high efficiency product development in line with changing scenario of power sector.

CABCON India Private Limited: has an extensive portfolio of Transmission and Distribution solutions focusing not only on quality and technological advancement but also making sure that its solutions met the international norms along with a state of Art design for Domestic Markets.

Gupta Power Infrastructure Ltd., is another company with a wide spectrum of business in power infrastructure and capex to pursue R&D in innovative transmission solutions corresponding to the energy trends worldwide.

Midal Cables Ltd.—As one of the largest manufacturers of aluminum and alloy conductors with the largest production capacity globally, Midal Cables will increase production to meet the growing global demand for efficient transmission solutions.

Sumitomo Electric Industries Ltd.: A global manufacturer of electric wires and cables, Sumitomo Electric is working to evolve its technologies for use in smart grid systems and other sustainable energy networks.

The companies are selectively implementing various strategies to expand their product portfolio and regional presence to avail the lucrative opportunities in the growing power transmission industry.

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Conclusion

On the other hand, the global market size of transmission lines and towers is provided, along with analysis which indicate the strong growth cover including driving forces such as rising energy needs, renewable energy incorporation and improvement in technology. With nations across the globe poised to devote considerable resources toward upgrading their power infrastructure, significant advancements are expected to take place in a market that must deliver power reliably and efficiently to a world that will change at an increasingly rapid pace.

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