Power Transmission Lines and Towers Market

Global Power Transmission Lines and Towers Market Size (2024 to 2032):

The Global Power Transmission Lines and Towers Market was worth US$ 42.42 billion in 2023 and is anticipated to reach a valuation of US$ 70.46 billion by 2032 from US$ 44.88 billion in 2024 and is predicted to register a CAGR of 5.80% during the foreseen period.

MARKET SCENARIO

A power transmission system is one that distributes power from a source of generation to numerous load centres, where it is used. Power is transferred from one location to another using transmission lines as a medium. It is not necessary for the location of electricity consumption to be the source of power generation. The choice of the source of power generation is determined by a variety of factors. The city where the power will be consumed must be far from the territory where the transmission source for power is determined to be built. The location chosen for producing the power transmission source ought to be less expensive. The land would be much less expensive here because it is located so distantly from the location where it is consumed.

Additionally, such noisy and polluting stations should be located distant from cities, which are where electricity is used. As a result, power would be transported via transmission lines from the source to urban areas with load centres, where it would be used for various purposes. There are short transmission lines, medium transmission lines, and long transmission lines in the power transmission system. A short transmission line is one with a voltage of less than 69 KV and an effective length of fewer than 80 KM. A long transmission line has an effective length of more than 250 KM. Transmission towers support the transmission lines that connect city source substations and satellite substations to the electricity generation facilities.

The COVID-19 epidemic had a minimal effect on the electricity transmission lines and towers industry, with revenues dropping as a result of the cancellation of various transmission lines and tower projects. Limited investments from public and commercial actors, as well as the constrained labour movement, further complicated transmission lines and tower construction. The market for power transmission lines and towers is anticipated to strengthen by 2022 due to the decline in COVID-19-infected individuals.

MARKET GROWTH

The drivers propelling the power transmission lines and towers industry include the rising demand for power, the infrastructure, and steps taken by the government to distribute electricity throughout the nation.

MARKET DRIVERS

Peak load demand has increased since people's standards of living have changed and as a result, they now have access to all the consumer goods that provide comfort and that they use or desire to use in order to feel comfortable.

In other words, the addition of luxury to people's lifestyles is driving increased peak load demand. Additionally, the urbanisation of both developed and developing nations is contributing to an increase in peak demand. Power transmission cables and towers will be driven by the rising peak load demand.

A number of regional governments have granted permission for some of the well-known titans in the power transmission lines and towers business to expand and upgrade the current electricity setups. These projects have been launched against the backdrop of growing energy scarcity worries and the consequent rollout of the green energy grid. In fact, government agencies have developed long-term plans to increase the reliance on renewable energy networks, advancing market trends for power transmission lines and towers.

MARKET RESTRAINTS

The market for electricity transmission lines and towers may be impacted by issues like slow technological development in underdeveloped nations, fluctuating steel prices, steel availability, and import and export restrictions.

The biggest issue with emerging regions is their lack of infrastructure, which could impede the market expansion for electricity transmission lines and towers. As a result, the major participants in the market for electricity transmission lines and towers place more emphasis on urbanisation and infrastructure development than on technological improvement.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Power Transmission Lines and Towers Market Analysis By Type

The power transmission lines and towers market share is predicted to be dominated by the subsurface sector. Underground installations are common in developed areas. The installation of such wires underground is unaffected by weather and results in fewer outages than overhead. Because there are fewer chances for errors, underground lines are more attractive and more efficient. There are various emerging regions that are striving to bury their overhead lines.

Global Power Transmission Lines and Towers Market Analysis By Voltage

Over the years 2024–2032, the above 660kV segment is anticipated to experience rapid growth. The number of data centres worldwide is growing along with urbanisation. Due to this, demand for the high voltage segment will rise during the forecast period.

Global Power Transmission Lines and Towers Market Analysis By Application

Utility held a sizable market share in 2023 and is anticipated to grow at a sizable CAGR over the course of the forecast. Around the world, the utility sector contains the majority of these lines. Due to increased urbanisation and smart city initiatives, there is a significant rise in the global demand for power. This accelerates the market's utility segment's expansion.

REGIONAL ANALYSIS

Over the years 2024–2032, Asia Pacific is predicted to dominate the global market. Due to the region's growing population, the need for power is rising quickly. In this area, industrialization and urbanisation are both growing. In this region, investments in transmission and distribution are also rising. The demand for the installation of such lines is rising as a result of the government's increased electricity generation in the area.

Over the years, Europe is anticipated to experience rapid growth. Due to the rising demand for reliable power supply, this region is constantly growing its energy-producing capacity. The demand for such a connection in the area will rise as capacity does.

The North American region is anticipated to increase significantly. At the moment, electronic equipment is widely used in the area, which results in significant power consumption. The generation of power capacity increased as a result, which raised the demand for such lines even more.

Over the projected period, the Middle East and Africa area is anticipated to rise at a notable CAGR. The governments in this area place a lot of emphasis on improving and expanding the transmission system.

Over the years 2024-2032, the Latin American area is predicted to increase. The need to increase the region's electricity-producing capacity is exacerbated by the region's growing demand for a consistent power supply.

KEY PLAYERS IN THE GLOBAL POWER TRANSMISSION LINES AND TOWERS MARKET

Companies playing a prominent role in the global power transmission lines and towers market include MasTec, Sterling & Wilson, Skipper, KEC, Prysmian, Sumitomo Electric, Southwire, Nexans, CG Power, ABB and Others.

RECENT HAPPENINGS IN THE GLOBAL POWER TRANSMISSION LINES AND TOWERS MARKET

• An overhead transmission line connecting a renewable energy development with the main grid has been proposed by AusNet. Farmers in Giffard have sworn to oppose the plan and work to get it constructed underground.
• Due to transmission line maintenance, the 70 MW Mid-Marsyangdi, 50 MW Upper Marsyangdi, and 30 MW Nyadi Hydropower Plants in Lamjung have been shut down for the entire day.

DETAILED SEGMENTATION OF THE GLOBAL POWER TRANSMISSION LINES AND TOWERS MARKET INCLUDED IN THIS REPORT

This research report on the global power transmission lines and towers market has been segmented and sub-segmented based on type, voltage, application and region.

By Type

• Underground
• Overhead
• Submarine

By Voltage

• 130kV – 220kV
• 221kV – 660kV
• Above 660kV

By Application

• Industrial
• Utility

By Region

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa