Dublin, June 28, 2024 (GLOBE NEWSWIRE) -- The "FRP Cross Arm Market: Trends, Opportunities and Competitive Analysis [2024-2030]" report has been added to ResearchAndMarkets.com's offering.
The global FRP cross arm market is expected to reach an estimated $147 billion by 2030 with a CAGR of 3% from 2023 to 2030. The major growth driver in this market is the increasing replacement of old poles and cross arms with new ones in developing countries. Emerging trends include the rising demand for customized utility pole cross arms and demand for fire and UV resistance FRP cross arms.
The future of the global FRP cross arm market looks promising with opportunities in power transmission, telecommunication and lighting. This study includes a forecast for the global FRP cross arm by application, type, and region.
Features of the Market Report
- Market Size Estimates: FRP cross arm market size estimation in terms of value ($B) and (thousands units) by volume.
- Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.
- Segmentation Analysis: Market size by application, type, and region
- Regional Analysis: FRP cross arm market breakdown by North America, Europe, Asia-Pacific, and the Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different application, type, and regions for the FRP cross arm market.
- Strategic Analysis: This includes M&A, for the FRP cross arm market.
- Analysis of competitive intensity of the industry based on Porter's Five Forces model.
Market Highlights
- Tangent is expected to be the largest type by value and volume due to its increasing use in composite, concrete, metal, and wood pole to support conductors along transmission and distribution lines. Tangent cross arm is expected to witness highest growth over the forecast period.
- Power transmission and distribution will remain the largest application market by value and volume due to increase in investment for new power generation infrastructure and replacement of existing network. Telecommunication is expected to witness highest growth over the forecast period.
- North America is expected to remain the largest region and APAC is expected to witness the highest growth over the forecast period due to growing replacement activities in the developing countries like China and India
Regional Insights
- United States: Companies like Valmont Industries and Hubbell Power Systems are driving innovations in FRP cross arms. Initiatives such as the Grid Modernization Initiative promote the use of advanced materials in electrical infrastructure. The US government supports research and development in the utility sector through agencies like the Department of Energy (DOE).
- China: Chinese manufacturers, including Jiangsu Milky Way Steel Poles Co., Ltd. and Zhejiang Shengda Steel Tower Co., Ltd., dominate the global FRP cross arm market. Government initiatives promoting grid expansion and modernization drive market growth. The Chinese Ministry of Industry and Information Technology sets standards and regulations for electrical infrastructure materials.
- Germany: German companies like Fischer Connectors and Leoni AG are pioneers in FRP cross arm technology. Government initiatives promoting renewable energy integration and grid reliability drive market expansion. The German Federal Ministry for Economic Affairs and Energy supports initiatives for innovation and competitiveness in the energy sector.
- India: Indian manufacturers, including Sterlite Power and KEC International, are key players in the FRP cross arm market. Government initiatives such as the Integrated Power Development Scheme (IPDS) aim to strengthen power distribution infrastructure. The Indian Ministry of Power oversees regulations and standards for electrical equipment.
- Brazil: Brazilian companies like WEG and ENGEPOWER are investing in FRP cross arm production. Government initiatives promoting grid expansion and rural electrification drive market growth. The Brazilian Ministry of Mines and Energy oversees regulations and policies for the electrical sector.
Recent Developments in the FRP Cross Arm Market
- Growing Demand for Lightweight and Corrosion-Resistant Solutions: The FRP cross arm market is witnessing steady growth due to increasing demand for lightweight and corrosion-resistant alternatives to traditional materials like wood and steel in utility pole applications.
- Expansion of Utility Infrastructure Projects: With the rise in infrastructure development projects, particularly in the energy and telecommunications sectors, there is a growing need for durable and low-maintenance components like FRP cross arms. This trend is expected to drive the demand for FRP products in the coming years.
- Technological Advancements in FRP Manufacturing: Companies are investing in research and development to enhance the performance and manufacturing efficiency of FRP cross arms. Innovations such as advanced composite materials, automated production processes, and quality control measures are contributing to the market's evolution.
- Focus on Sustainability and Environmental Benefits: The environmental advantages of FRP materials, including reduced carbon footprint, recyclability, and longevity, are driving their adoption in the utility sector. Utility companies are increasingly prioritizing sustainable solutions to meet regulatory requirements and corporate sustainability goals.
- Regulatory Support for Composite Materials: Governments and regulatory bodies are implementing policies and standards that encourage the use of composite materials like FRP in utility infrastructure. These initiatives aim to promote innovation, safety, and efficiency in the construction and maintenance of utility networks.
Key Topics Covered
1. Executive Summary
2. Global FRP Cross Arm Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1: Macroeconomic Trends and Forecasts
3.2: Global FRP Cross Arm Market Trends and Forecast
3.3: Global FRP Cross Arm Market by Application
3.3.1: Transmission and Communication
3.3.2: Telecommunication
3.3.3: Lighting and Others
3.4: Global FRP Cross Arm Market by Type
3.4.1: Tangent Cross Arms
3.4.2: Deadend Cross Arms
4. Market Trends and Forecast Analysis by Region
4.1: Global FRP Cross Arm Market by Region
4.2: North American FRP Cross Arm Market Trends and Forecast
4.3: European FRP Cross Arm Market Trends and Forecast
4.4: APAC FRP Cross Arm Market Trends and Forecast
4.5: RoW FRP Cross Arm Market Trends and Forecast
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Geographical Reach
5.4: Porter's Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global FRP Cross Arm Market by Application
6.1.2: Growth Opportunities for the Global FRP Cross Arm Market by Type
6.1.3: Growth Opportunities for the Global FRP Cross Arm Market by Region
6.2: Emerging Trends in the Global FRP Cross Arm Market
6.3: Strategic Analysis
6.3.1: Mergers, Acquisitions and Joint Ventures in the Global FRP Cross Arm Market
7. Company Profiles of Leading Players
7.1: Geotek Inc.
7.2: Valmont Industries
7.3: Creative Composites Group
7.4: Liberty Pultrusions
7.5: RC Technologies Inc.
For more information about this report visit https://www.researchandmarkets.com/r/cc5nil
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