Selbyville, Delaware, May 17, 2022 (GLOBE NEWSWIRE) --
The transmission towers market size is expected to record a valuation of USD 24 billion by 2028, according to the most recent study by Global Market Insights Inc.
Increasing infrastructural investments across commercial & industrial establishments along with ongoing renewable energy integration will positively sway the business landscape. Moreover, the growing inclination toward smart grid networks in line with rising demand for the replacement & revamping of conventional T&D networks will boost the market growth.
Favorable regulatory reforms on the expansion of existing grid infrastructures with the government initiatives toward rural electrification in remote areas will spur the transmission towers market outlook. Manufacturers across the globe are focusing on extensive R&D activities & inorganic strategic implications to strengthen their market position.
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Increasing investments in upgrading conventional power supply units coupled with ongoing deployments of high-capacity transmission lines will propel the transmission towers market demand. Rapid urbanization across developing nations combined with rising investments in the expansion of grid infrastructures will positively influence the market landscape. Furthermore, the shifting focus of utilities toward the installation and maintenance of power grid networks coupled with the growing demand for an uninterrupted electricity supply will fuel the market expansion.
The Middle East & Africa transmission towers market accounted for USD 3 billion in 2021. Robust integration of smart grid networks with the T&D infrastructure in line with a favorable customer focus on the adoption of renewable solutions will complement the industry spectrum. In addition, ongoing technological advancements across the power sector to cater the rising energy demand will institute a favorable business scenario. The regulatory inclination toward secure and continuous electrical supply will further accelerate the product deployment.
The COVID-19 outbreak had a minimal effect on the power sector owing to it being the backbone & necessity of the global economy. Additionally, continuous maintenance and operations of the T&D network have bolstered the market revenues. The continuous modernization and upgrade of the existing T&D infrastructures together with the deployment of advanced power cables to lower transmission losses will complement the industry growth.
Major players operating across the transmission towers market include Utkarsh India Limited, Jyoti Structures Limited, KEC International Ltd., QUANTA SERVICES, NEXANS, Valard Construction, Burns & McDonnell, PLH Group, Wilson Construction, Power Line Services, Inc, MDU Construction Services Group, Valmont Industries, Inc., Sabre Industries, Inc., MEYER UTILITY STRUCTURES, LLC., KOCAER STEEL, Skipper Limited, Ganges Internationale, and ISA.
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Some major findings of the transmission towers market report include:
- Promising government policies & energy efficiency mandates coupled with emission reduction targets will augment the business spectrum.
- Replacement & upgrade of existing transmission tower networks with effective & advanced designs and products will foster the business outlook.
- Ongoing technological enhancements in the market merged with rising concerns toward grid reliability, safety & continuous power supply will enhance the product demand.
- Increasing consumer inclination toward the adoption of smart grid infrastructures in line with rising energy demand will escalate the business growth.
Table of Contents (ToC) of the report
Chapter 3 Transmission Towers Market Insights
3.1 Industry ecosystem analysis
3.2 Innovation & structure landscape
3.3 Regulatory landscape
3.4 COVID- 19 impact on the industry outlook
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 North America and Europe
3.5.1.1.1 Expansion of smart grid networks
3.5.1.1.2 Refurbishment & retrofit of existing grid infrastructure
3.5.1.1.3 Large-scale renewable integration
3.5.1.2 Asia Pacific
3.5.1.2.1 Rising peak load demand
3.5.1.2.2 Expansion of micro-grid networks
3.5.1.2.3 Grid stability & security of supply concerns
3.5.1.3 Middle East, Africa, and Latin America
3.5.1.3.1 Increasing electricity demand
3.5.1.3.2 Integration of a sustainable electrical network
3.5.2 Industry pitfalls & challenges
3.5.2.1 High capital investments and associated replacement & maintenance costs
3.6 Growth potential analysis
3.7 Porter's Analysis
3.8 Competitive landscape
3.9 PESTEL Analysis
Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/transmission-towers-market
About Global Market Insights Inc.
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.
