Pune, India, Feb. 20, 2022 (GLOBE NEWSWIRE) -- The Global Transmission Line Market size was USD 81.39 billion in 2020. The market is expected to grow from USD 86.88 billion in 2021 to USD 138.99 billion in 2028 at a growth rate of 6.9% in the 2021-2028 period. This information is provided by Fortune Business Insights, in its report, titled, “Transmission Line Market, 2021-2028.”
According to our analysts, the market is expected to gain traction on account of the factor that smart grids are extending across the globe as the capitalization in smart grids networks is progressively rising. Moreover, the government is also emphasizing smart grid expansion in various nations.
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Companies Profiled in the Transmission Line Market:
- Nexans (France)
- ABB (Switzerland)
- General Electric (U.S.)
- Prysmian Group (Italy)
- Sumitomo Electric (Japan)
- Valard (Canada)
- Arteche Group (Spain)
- MYR Group (U.S.)
- Kiewit (U.S.)
- Burns & McDonnell (U.S.)
- AECOM (U.S.)
- Salasar (India)
COVID-19 Impacts:
COVID-19 Pandemic Impacts Majorly on Power Projects, set to Hinder Economy
The COVID-19 pandemic has spread across the world, thus hampering the global economy. The pandemic has influenced numerous business sectors, such as production, hospitality, oil & gas, aviation, and others. Moreover, governments of numerous nations had deployed national lockdowns and imposed stringent guidelines in order to curb the spread. The outbreak of pandemic has also interrupted supply chains as the government made declarations regarding lockdowns and employed travel restrictions.
To get to know more about the short-term and long-term impact of COVID-19 on this market,
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REPORT SCOPE & SEGMENTATION:
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast Period 2021-2028 CAGR | 6.9% |
| 2028 Value Projection | 138.99 billion |
| Base Year | 2020 |
| Market Size in 2020 | 81.39 billion |
| Historical Data for | 2017-2019 |
| No. of Pages | 210 |
| Segments covered | Type, Voltage, Application, Region |
| Growth Drivers | Increasing Energy Demand to Augmentn Market Growth |
| Expansion of Smart Grids and Micro-grids Network Propel Growth in Market | |
| Rising Retrofit and Refurbishment of Existing Infrastructure Augmented Market Growth | |
| Pitfalls & Challenges | Higher Dependency on Import May Hinder Market Growth |
Segments:
Type, Voltage, Application, and Region are studied for the Market
On the basis of type, the market is classified into underground, overhead, and submarine.
In terms of voltage, the market is categorized into 130kV – 220kV, 221kV – 660kV, and above 600kV.
By application, the market is segregated into industrial and utility. The utility segment held a leading share of the market in 2020 and is anticipated to extend at a substantial CAGR during the forecast.
Geographically, the global market has been branched across five vital regions, comprising North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Report Coverage:
The report offers a rounded study of the transmission line market along with latest trends and impending predictions to institute approximate investment gains. An expansive review of any forthcoming prospects, jeopardies, competitions or driving aspects is also stated in the report. Moreover, an in-depth regional examination is also mentioned. The COVID-19 influences have been added to the report to aid investors and business experts to comprehend the jeopardies in an augmented manner. The key companies functioning in the market are acknowledged, and their tactics to boost the market growth are described in the report.
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Drivers and Restraints:
Extension of Smart Grids and Micro-Grids Network to Bolster Market Growth
Smart grids are extending across the globe as the investment in smart grids networks is broadly surging. Governments are also emphasizing on smart grid expansion in numerous nations. The investment in cross-border grid networks is also growing across the globe. Besides smart grid, the micro-grid network is also noted to expand massively across the globe. The rising power consumption surges the demand for network infrastructure for the transmission of electricity throughout the globe. This is expected to bolster the transmission line market growth.
Regional Insights:
Asia Pacific is projected to hold the largest transmission line market share over the forecast period. The demand for electricity is expansively rising in this region, owing to the growing population. Urbanization and industrialization are also registered to be elevating.
Europe is probable to grow at a considerable rate during the forecast period. This region is incessantly extending its electricity generation capacity, owing to rising demand for continual power supply.
North America is anticipated to record considerable growth during the forecast period. The region is presently experiencing high power utilization and major penetration of electronic equipment.
Competitive Landscape:
Various Contract Declarations by Crucial Players to Boost Market Growth
The vital companies present in the market embrace numerous tactics to boost their position in the market as dominating companies. One such important tactic is procuring companies to reinforce the brand value among users. Another effective strategy is announcing diverse contracts achieved publically and preserving the prestige among audience.
Industry Developments:
May 2021: Salasar declared a contract worth INR 238.65 crore from Power Grid to build transmission lines and substations based in Arunachal Pradesh. This agreement involves the construction of a transmission line network of 132KV type and the substations of extra high voltage capacity.
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Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Porter’s Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Transmission Line Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments in the Industry in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Transmission Line Market Analysis (USD Billion), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Underground
- Overhead
- Submarine
- Market Analysis, Insights and Forecast – By Voltage
- 130kV – 220kV
- 221kV – 660kV
- Above 660kV
- Market Analysis, Insights and Forecast – By Application
- Utility
- Industrial
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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