DALLAS, Nov. 04, 2018 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the utility pole market looks good with opportunities in the transmission and distribution sectors. The global utility pole market is expected to reach an estimated $49.9 billion by 2023 with a CAGR of 4.2% from 2018 to 2023. The major growth drivers for this market are increasing power generation capacity, growing transmission and distribution infrastructure, and replacement of aging existing networks.
Browse 65 market data tables and 79 figures spread through 159 pages and in-depth TOC on “Global Utility Pole Market" at https://www.lucintel.com/utility-pole-market-2018-2023.aspx
In this market, transmission pole and distribution pole are used for utility pole manufacturing for application type. Lucintel forecasts that the distribution pole market is expected to remain the largest segment over the forecast period. Download Free PDF Brochure @ https://www.lucintel.com/utility-pole-market-2018-2023.aspx
APAC is expected to witness the highest growth over the forecast period due to major investments in the power sector and improvement in the transmission and distribution network in developing nations, such as China and India. Pre-Purchase Query click https://www.lucintel.com/utility-pole-market-2018-2023.aspx
Within the utility pole market, the steel pole segment is expected to remain the largest segment by material type due to the low maintenance and high durability. Lucintel projects that the composite pole segment will experience the highest growth rate during the forecast period.
Emerging trends, which have a direct impact on the dynamics of the utility pole industry, include wider use of transmission monopoles, increased usage of composite poles in transmission and distribution, increased usage of polyurethane coatings, and hot dip galvanizing of steel utility poles. Valmont Inc., Skipper Ltd. KEC International, Stella Jones, Europoles GmbH, Eleswedy Electric, RS Technologies Inc., and Nippon Concrete Industries Co. Ltd are among the major suppliers of utility pole.
Lucintel, a leading global market research firm has analyzed and forecasted growth opportunities for global utility pole market by application type, material, size, and region has compiled a comprehensive research report entitled “Growth Opportunities in the Global Utility Pole Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions.
For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at helpdesk@lucintel.com.