Dublin, Sept. 16, 2022 (GLOBE NEWSWIRE) -- The "Electricity Transmission Poles Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The global electricity transmission poles market was valued at US$6.070 billion in 2020 and is estimated to grow at a CAGR of 6.92% over the forecast period to reach a total market size of US$9.695 billion in 2027.
Rising global electricity consumption is one of the major factors that is fuelling the growth of the electricity transmission pole market worldwide. According to the IEA (International Energy Agency), global electricity final consumption was 4.0 percent higher than the previous year and reached 22,315 TWh.
Out of this, the total electricity final consumption in OECD (Organization for Economic Co-Operation and Development) countries was 9,728 TWh while in non-OECD countries, the total electricity final consumption totaled 12,587 TWh in 2018. India, Brazil, China, and the Russian Federation were the four largest non-OECD electricity consumers in 2018, with China accounting for the major share, accounting for 47.8 percent of total non-OECD consumption.
Also, electricity in non-OECD countries is dominated by industrial demand which accounts for 50 percent of final electricity consumption. Much of the rising consumption of electricity in OECD countries has taken place in the residential, commercial, and public services sectors since 1974. The industrial sector remained the largest end-use sector for electricity consumption in 2018. However, the industry's share of electricity consumption is now only marginally greater than that of the residential and commercial sectors.
The rising number of factories across various industries is also a factor that is contributing to the growth of the global electricity transmission pole market. Growing urban infrastructural development in developing economies has boosted the construction of residential as well as commercial buildings, which is also driving the demand for electricity transmission poles, thus positively impacting the growth of the global electricity transmission pole market.
Advancements in the global energy sector are also contributing to the growth of the global electricity transmission pole market. The growing demand for energy-efficient and resilient power grids is another factor that is bolstering the growth of the global electricity transmission pole market. Rapidly growing demand for unhindered electricity supply across various sectors has also fuelled the revenues of market players in the global electricity transmission market.
Increasing investments, both public and private, in smart grids in both developed and developing economies will continue to pave the way for new distribution lines and poles as replacements for older infrastructure, thereby driving the overall market growth of electricity transmission poles. In 2017, the Mexican energy minister announced plans to invest US$646 million in the implementation of a smart grid over the next eight years. In the APAC region, Southeast Asian countries are projected to invest more than US$8 billion in smart grid infrastructure between 2018 and 2025. The Government of Canada, through the Ministry of Natural Resources, announced funding of $100 million for the development of smart grids in the country in 2018.
However, there has been a gradual shift towards advanced electricity infrastructure that is expected to limit the use of poles and wires, thus hindering the market growth. For instance, in Australia, under the new rules devised by the Australian Energy Market Commission (AEMC), distribution businesses across the country will be allowed to service remote areas with stand-alone power systems while avoiding costly network upgrades.
Key Developments
As a consequence of the rising need for efficient power grids and expanding power demand in nations all over the world, the electrical transmission poles sector has witnessed substantial growth.
As stated by Consumers Energy in a release on May 2022, it will invest $100 million in 2022 to minimize the frequency and duration of power disruptions. In order to make the power grid more stable for Consumers Energy's electric consumers, the energy provider will make considerable changes to its high voltage distribution (HVD) system. Consumers Electricity's five-year, $5.4 billion Electric Reliability Plan includes HVD enhancements this year as part of a bigger effort to develop a more stable and resilient energy system.
Segmentation
By Material
- Wood
- Cement
- Steel
By Area
- Rural
- Urban
By Geography
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Europe
- Germany
- France
- UK
- Italy
- Middle East and Africa
- Saudi Arabia
- UAE
- Asia Pacific
- China
- India
- Japan
- South Korea
- Taiwan
- Thailand
- Indonesia
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Global Electricity Transmission Poles Market Analysis, By Material
6. Global Electricity Transmission Poles Market Analysis, By Area
7. Global Electricity Transmission Poles Market Analysis, By Geography
8. Competitive Environment and Analysis
9. Company Profiles
Companies Mentioned
- Koppers Inc.
- KEC International Ltd.
- Skipper Limited
- Europoles GmbH & Co. KG
- Nippon Concrete Industries Co., Ltd.
- Weatherspoon & Williams LLC
- Valmont Industries, Inc.
- Nello Corporation
- Nova Pole International Inc.
- Finntrepo Ltd
For more information about this report visit https://www.researchandmarkets.com/r/su4os0
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