Power Transmission Lines and Towers Market size was valued at over USD 36 billion in 2020 and is set to grow at a CAGR of around 4% between 2021 and 2028. Power transmission lines are power transfer systems, which transport electrical energy from the generating substation to numerous distribution stations. These lines mainly consist of components including inductance, resistance, shunt conductance, and capacitance. They are interconnected lines that ensure proper electricity movement across the transmission network from the generation site to the distribution source.
The rising trend toward the adoption of a renewable energy mix coupled with the growing demand for efficient lines & towers with minimal energy losses will drive the business growth. In addition, growing investments in refurbishment and retrofitting of the existing transmission & distribution infrastructure along with increasing installations of power infrastructure across developing nations will accelerate industry prospects.
|Market Size in 2020:||36,535.0 Million (USD)|
|Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||4.3%|
|2028 Value Projection:||48,761.9 Million (USD)|
|Historical Data for:||2018 to 2020|
|No. of Pages:||600|
|Tables, Charts & Figures:||1,219|
|Segments covered:||Product, Conductor, Insulation, Voltage, Current, Application|
|Pitfalls & Challenges:|
Favorable government policies on smart grid infrastructure along with ongoing technological enhancements will foster product demand across developing countries
Power transmission lines market is set to exceed USD 28 billion at a CAGR of over 4% from 2021 to 2028. A significant increase in investments in cross-border distribution networks along with the rising integration of renewable energy networks across the world will positively stimulate the industry outlook. Growing electricity demand coupled with favorable government standards & policies for the development of smart grid infrastructure will further positively influence the business spectrum.
Ongoing applicability of Information Technology (IT) across the power industry will significantly develop the intelligent grid infrastructure, which will augment the demand for sustainable and efficient transmission systems. Moreover, a paradigm shift toward the expansion of existing grid networks combined with the positive consumer inclination pertaining to the integration of Artificial Intelligence (AI) systems will propel the business landscape.
Increasing investments in R&D across transmission and distribution networks will sway the business dynamics
Power transmission lines and towers market from high-temperature conductors is anticipated to grow at a CAGR of over 5% through 2028. Efficient electrical conductivity, lower tensile strength along with large-scale monitoring, and control technology deployment across power transmission networks will complement the business dynamics. For instance, in January 2019, Prysmian Group introduced the E3X Technology as a standard feature on its ACCC bare overhead transmission conductors. The E3X is a durable and thin coating, which reduces the operating temperature of the conductor by increasing the heat dissipation rate from the units surface and minimizing the solar energy absorption.
PVC units are expected to surpass an annual installation of over 43 000 km by 2028. The ability to easily recycle and process compared to thermoplastic and thermoset technologies will enhance the industry potential. Fire retardancy, effective mechanical strength, lightweight, UV-resistant, high resistance to water & chemicals, the ability to withstand a maximum temperature, and abrasion resistance will positively influence product implementation.
Rapid adoption of smart electricity networks coupled with growing investments across transmission line infrastructure will propel the industry statistics
The 221 kV to 660 kV power transmission lines and towers market will experience an upsurge due to the continuous deployment of HV electricity networks along with increasing urbanization across developing nations. For instance, in November 2019, Sumitomo Electric Industries won a project for the construction of an overhead line with a total length of 97 km in Sri Lanka to deploy high-capacity minimal loss overhead conductors with Mitsubishi and Ceylex Engineering across Kolonnawa-Ratmalana (132 kV) and Veyangoda-Kirindiwela (220 kV) project. It focuses on delivering high-quality overhead conductors to supply stable electricity across the country.
The rapid development of extra & ultra-high tension transmission networks to cater to the growing energy demand across the commercial and industrial sectors will boost the HVDC power lines industry size. For instance, in July 2020, NKT signed a contract worth over USD 285 million with SSEN Transmission to deliver and install HVDC interconnectors, connecting the Scottish mainland with Shetland island. The contract involves the manufacturing of 520 km of 320 kV high voltage DC lines, which include subsea and overhead power transmission cables
Middle East & Africa power transmission lines and towers market will rise due to the refurbishment & revamping of the existing grid infrastructure
Middle East & Africa power transmission towers market share was valued at over USD 2 billion in 2020. Increasing technological enhancements across the power industry to cater to the growing energy demand will complement the business scenario. The integration of smart grid infrastructure throughout the T&D network systems along with favorable customer inclination toward the adoption of renewable technologies will positively influence the regional industry landscape.
The Saudi Arabia power line market is expected to cross USD 900 million at a CAGR of over 3% through 2028. Strict government energy-efficiency standards coupled with the rising share of renewable electricity including solar and wind farms will drive product demand across the country. The regulatory inclination toward secure power supply from overhead lines combined with incentives for unconventional power generation will fuel the existing T&D grid infrastructure.
Restarting industrial operations after the pandemic will fuel the business expansion
Power transmission lines & towers industry was slightly impacted due to the COVID-19 pandemic, witnessing a decline in sales on account of delay of numerous transmission line & tower projects, which was further driven by limited investments from public & private players and the restricted labor movement. Considering the slowdown in COVID-19 infected cases, the industry is set to recover its lost strength by the end of 2021.
Ongoing collaborations, agreements, and strategic partnerships will enhance the industry presence of various companies
Inorganic growth ventures, strategic implications, joint ventures, mergers, and contracts among eminent players will foster the industry statistics. For instance, in May 2020, Nexans signed a contract worth over USD 240 million with Ariadne Interconnection, a transmission system operator, for the Greece power grid. Under the contract, the company will design, supply, install, and commission a 500 kV HVDC cable system along a route of 335 km. The project is anticipated to be completed by 2023. This contract will help the company to increase its market presence across Greece.
Eminent players functioning across the power transmission lines and towers market include ZTT International, Sumitomo Electric Industries, LAMIFIL, APAR Industries, Nexans, CTC Global, Neccon, 3M, Gupta Power Infrastructure, LUMPI BERNDORF, ZMS Cable, Hindustan Urban Infrastructure, Midal Cables, Alfanar, CABCON India, Prysmian Group, Tropical Cable and Conductors, Sterlite Power, Gulf Cable and Electrical Industries, Riyadh Cables Group Company, KEI Industries Limited, Energya Cables Saudi Arabia, LS Cable & System, SWCC SHOWA HOLDING, Southwire Company, LLC, Special Cables, Alcon Marepha, Elsewedy Electric, Galaxy Transmissions, Arrow Cables, Kelani Cables PLC, CMI Limited, Bekaert, Eland Cables, Tratos, KEC International, Skipper Limited, Jyoti Structures, CG Power and Industrial Solutions, MasTec, Tokyo Electric Power Company Holdings, and SAE Towers.
Power transmission lines and towers market research report includes in-depth coverage of the industry with estimates & forecast in terms of km MT & USD from 2018 to 2028, for the following segments:
- Transmission Lines
- Transmission Towers
- High Temperature
- 132 kV to 220 kV
- 221 kV to 660 kV
- > 660 kV
- High Tension
- Extra High Tension
- Ultra High Tension
The above information has been provided for the following regions and country:
- North America
- Asia Pacific
- South Korea
- New Zealand
- Middle East & Africa
- Saudi Arabia
- South Africa
- Latin America