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Power Transmission Component Market 2019: Trend Analysis, Forecast, Competition and Growth Opportunities- 2025

Author : Rahul Sankrityayan | Published Date : 2019-08-30 

The U.S. power transmission lines & towers market is expected to exceed USD 4 Billion by 2024. Rising demand for the revamp and retrofit across the existing grid infrastructure has positively impacted the industry dynamics. In addition, integration of an enhanced control mechanism along with rapid technological enhancements will further augment the business growth.

The power transmission component market is set to grow at a compound annual growth rate (CAGR) of 6% between 2018 and 2024, reaching $100bn by 2024.Power Transmission Lines & Towers market is anticipated to surpass USD 60 Billion by 2024. Ongoing economic escalation has infused an upsurge in the demand for energy across developing nations. Despite the rise in generation capacity, nations across the globe have consistently been facing power deficit issues. Aggregate T&C & transmission losses result in appreciable overall deprivation in line with energy supply & revenue realization. Henceforth, current industrial tendencies have swayed regulatory inclination from capacity expansion towards energy efficiency and enhancement of electric supply which in turn will augment the power transmission lines & towers market share.

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Power transmission lines & towers market from HVAC owing to competitive cost structure coupled with simple processing will witness a consistent escalation in the coming years. Light weight, improved malleability & ductility along with lower amperage rating and operational safety will boost the product adoption. In addition, efficient voltage transformation supported by lower terminal costs will further foster the industry.

Grid integration of renewable systems along with rapid expansion of distributed generation networks has appreciably upended the development of power transmission lines & towers market. The evolving national grid concept coupled with the cross-border transmission network expansion has positively influenced the business outlook. Developed and developing nations across the globe have been ensuring security of supply through the integration of renewable networks which in turn will complement the industry landscape.

Electricity consumption across the African and GCC economies has observed steep proliferation owing to the accruing energy demand, primarily across commercial & residential establishments. As per EIA, per capita power consumption across the Gulf is anticipated to witness a turnaround by 2035, owing to the rapid growth in population. In addition, re-structuring of the electric grid across war affected nations to regain the economic growth will further propel the power transmission lines & towers market.

Power transmission lines & towers market from high temperature is expected to surpass an annual deployment of over 15 '000 ckt km by 2024. The conductor's manifest similar dimensions as compared to an ACSR technology, but are lighter, stronger, and comparatively more conductive. However, these products have better expansion coefficient and henceforth tend to be more expensive when compared the conventional conductors.

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Major players across the industry include GE, K-Line, ABB, Siemens, ICOMM, CG, Arteche, Aurecon, EMC, KEC, Mastec, General Cable, Skipper, Sterling & Wilson, Kalpataru, Prysmian, Sumitomo, Nanjing Daji, ShanDong DingChang, Zhejiang Shengda, Southwire Company, and Nexans.


 

 

 

 

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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