May 27, 2020
According to the research report titled ‘Power Transmission Lines & Towers Market Size By Product, By Insulation, By Voltage, By Application Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global power transmission lines & towers market is expected to record remunerative growth through 2026.
Growing focus towards deployment of new transmission & distribution infrastructure is a major factor driving the growth of power transmission lines & towers industry. Power transmission lines have high tensile strength and superior temperature resistance, thus can operate in extreme environmental conditions.
Speaking of the current type, HVAC segment is reckoned to witness modest growth over 2020-2026. HVAC transmission systems not only lower terminal costs, but also offer ease-of-voltage transformation among circuits. Meanwhile, HVDC transmission systems are gaining traction on account of reduced losses, better controllability, stability, and efficient asynchronous interconnection.
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As per insulation type, XLPE segment is expected to generate lucrative revenues in the forthcoming years, primarily due to growing preference for insulation with better dielectric strength and temperature resistance. On the other hand, rubber insulated transmission lines segment is slated to expand substantially during the analysis timeframe as the product offers superior flexibility in various temperatures.
By voltage rating, >660 kV segment is reckoned to witness a robust CAGR during the estimated timeframe. Widespread installation of high tension transmission lines in order to reduce electrical losses which occur during long-route electrical supply is favoring the market outlook.
Considering the geographical landscape, although Europe and North America currently account for substantial market share, power transmission lines and towers industry in Middle East & Africa is anticipated to record substantial growth in the subsequent years. Growing emphasis towards clean & green infrastructure is boosting the business outlook in these regions.
The report cites that Latin America market is slated to register a healthy growth rate during 2020-2026, primarily due to increasing focus by public entities towards expansion of transmission lines and improve energy output. Nations like Argentina, Mexico, and Brazil are escalating their renewable energy production, hence creating lucrative growth avenues for LATAM market.
The prominent companies operating in power transmission lines & towers market are Arteche, Zhejiang Shengda Steel Tower Co. Ltd., Sterlite Power, Siemens AG, General Electric, ABB Ltd., CG Power & Industrial Solutions Ltd., Nexans, Southwire Co. LLC, Sumitomo Electric Industries, Prysmian Group, KEC International Ltd., Skipper Ltd., Sterling & Wilson and MasTec among others.