Power Transmission Lines and Towers Market by Type and Geography - Forecast and Analysis 2020-2024

The power transmission lines and towers market size has the potential to grow by USD 8.88 bn during 2020-2024, and the market's growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by type (HVAC and HVDC) and geography (APAC, Europe, North America, MEA, and South America). Also, the report analyzes the market's competitive landscape. It offers information on several market vendors, including ABB Ltd., AECOM, Arteche Group, Lamifil NV, MasTec Inc., MYR Group Inc., Nexans SA, Prysmian Spa, Quanta Services Inc., and Siemens AG.

Market Overview

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Market Competitive Analysis

The market is fragmented. ABB Ltd., AECOM, and Arteche Group are some of the major market participants. Although the Rapid growth in demand for high-voltage transmission lines in the utility sector will offer immense growth opportunities, the slowdown in manufacturing output will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this power transmission lines and towers market forecast report provides a detailed analysis of the market leaders. It offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this power transmission lines and towers market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• ABB Ltd.
• AECOM
• Arteche Group
• Lamifil NV
• MasTec Inc.
• MYR Group Inc.
• Nexans SA
• Prysmian Spa
• Quanta Services Inc.
• Siemens AG

Power Transmission Lines and Towers Market: Segmentation by Geography

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APAC was the largest power transmission lines and towers market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The high use of transmission lines and towers will significantly drive power transmission lines and towers market growth in this region over the forecast period.

49% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for power transmission lines and towers in APAC. Market growth in this region will be faster than the growth of the market in Europe and North America.

Power Transmission Lines and Towers Market: Segmentation by Type

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High-voltage alternate current is one of the most demanded transmission technologies globally. The major advantages of HVAC transmission systems are a reduction in the cost of conductor and increased efficiency. Moreover, they are designed using steel lattices or trusses to transmit multiples of three conductors, mainly in countries, such as Canada, Germany, and Scandinavia.

Market growth in this segment will be slower than the growth of the market in the HDVC segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the power transmission lines and towers' market size.

Power Transmission Lines and Towers Market: Key Drivers and Trends

The rise in the penetration of data centers and large communication base stations has resulted in an increased demand for power, thereby resulting in a surge in demand for HV transmission lines. For instance, in 2018, the total primary energy consumption in the US was approximately 100 quadrillion Btu. HV transmission lines enable transmission of power at high voltages to fulfill business demands. Utilities consist of companies that provide basic amenities such as water, electricity, and natural gas. Power is recognized as one of the most substantial components of infrastructure, which is critical for the growth and development of any economy. Additionally, factors such as the low cost of labor and the availability of cheap raw materials have attracted major foreign companies to establish their production base in developing countries such as India and China. This has resulted in an increased demand for power, thereby augmenting the demand for HV transmission lines.

The need for flexible power systems and the changing energy landscape will also influence the growth of the market. The demand for power has increased exponentially across the world. Furthermore, the growth in population and the rise in the global economy are expected to drive this trend in the future as well. Currently, energy security is the national agenda for any country. From a power generation point of view, the International Energy Agency (IEA) estimates that the global generation of electricity from fossil fuels is expected to reach 61% by 2020. This, however, depends on the actions and implementation of protocols regarding the creation of an environmentally sustainable system. Substantial amounts of power will be required to sustain the pace of economic growth, which is the result of an increasing population and rising developmental activities. The growing awareness of the benefits of renewable energy is leading to the construction and expansion of renewable power generation capacity. Such factors will drive market growth at a CAGR of over 5%.

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Power Transmission Lines and Towers Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive power transmission lines and towers market growth during the next five years
• Precise estimation of the power transmission lines and towers market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the power transmission lines and towers market industry across APAC, Europe, North America, MEA, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of power transmission lines and towers market vendors

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