Selbyville, Delaware, Jan. 26, 2022 (GLOBE NEWSWIRE) --
The U.S. electric towers & poles market is set to exceed USD 6 billion by 2028, as reported in the latest study by Global Market Insights Inc. Frequent occurrences of natural calamities along with aging electrical grid infrastructures across the U.S. will drive the industry statistics. In addition, rapid large-scale integration of renewable resources along with growing inclination toward smart grid infrastructures will positively sway the industry outlook.
Increasing extreme climatic conditions across the U.S. along with growing intensity of natural disasters including floods, hurricanes, storms, wildfires & tornadoes will accelerate the replacement and refurbishment of T&D infrastructures. For instance, as per the AGU journal Earth's Future, over half of the grid infrastructures in the U.S. are exposed to potentially devastating natural disasters.
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Continuous deployment of high-capacity transmission lines coupled with rapid investments in upgrading existing power supply units will enhance the demand for transmission towers. Moreover, the robust utilization of high-end machinery across various industries coupled with an increasing number of projects to install upgraded & new T&D grid networks will propel the business outlook. The shifting focus of state utilities toward maintenance and installation of grid networks, followed by an uninterrupted power supply will propel the business spectrum.
Some prime findings of the U.S. electric towers & poles market report include:
- Ongoing expansion of interstate T&D network in line with retrofitting & revamping of traditional electric infrastructure will fuel the business landscape.
- Favorable government policies and energy efficiency mandates along with carbon emission reduction targets will foster the industry outlook.
- Upgrading of existing wooden poles with steel poles to offer a longer lifespan, followed by the ability to withstand extreme weather conditions will augment product demand.
- Key players operating across the U.S. electric towers & poles industry include QUANTA SERVICES, MYRGROUP Valmont Industries, Valard Construction, MMR Group, etc.
- Rising housing units in residential establishments coupled with rapid integration of sustainable sources across the commercial sector will propel the market forecasts.
Browse key industry insights spread across 245 pages with 195 market data tables & 31 figures & charts from the report, “U.S. Electric Towers & Poles Market Forecasts By Product (Transmission Towers, Distribution Poles), Voltage (≤ 11 kV, > 11 kV - 33 kV, > 33 kV – 66 kV, > 66 kV – 132 kV, > 132 kV), Industry Analysis Report, State Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/us-electric-towers-and-poles-market
> 33 kV distribution poles industry will witness growth owing to the ongoing installation & replacement of wood distribution poles to steel poles. Ability of durability, reliability, safety, and sustainable distribution system of steel poles, will further augment product demand. For instance, Tucson Electric Power converted most of its wood poles to steel poles on account of their longer life expectancy & greater reliability.
Texas electric towers industry is expected to surpass the annual installation of over 6 MT by 2028. Grid modernization along with smart grid solutions will complement the business landscape. Growing utilization of distributed energy resources coupled with favorable government norms toward adoption of efficient & renewable technologies will propel the industry statistics.
The outbreak of COVID-19 had a minimal impact on the power industry as it being the necessity & backbone of economy. The U.S. electric towers & poles market witnessed growth owing to continuous maintenance and operations along with the deployment & installation of various new projects despite the pandemic outbreak.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
