Rapid economic growth has spurred energy demand across the globe, stimulating power transmission lines & towers market trends, especially in evolving economies where industrialization initiatives are being undertaken in full swing. Regardless of the growth in power production capacity, various countries across the globe are highly susceptible to power deficit circumstances. Transmission and distribution loss is yet another factor which adds to energy deficit.
The U.S. Energy Information Administration predicts that electricity transmission and distribution losses average about 5 percent of the total electricity that is transmitted and distributed in the United States on an annual basis. To deal with this, currently, the governments are more interested in the improvement of electrical supply channels and energy efficiency rather than capacity expansion of existing electrical infrastructure, thereby promoting the growth of the power transmission lines & towers market.
Why are eminent companies eyeing China for expansion?
In recent years, the China power transmission lines & towers market has gained significant impetus on grounds of the rapid growth of ultra-high-tension networks to bear with the losses accrued by long-term electrical supply. Moreover, favorable consumer and regulatory predilection towards the incorporation of HVDC grids to aptly serve the cross-border networking plans across the country would positively influence the business dynamics and attract the key market players.
HVDC is an extremely effective technology for transmitting huge amounts of electricity over extensive distances with negligible losses. For instance, the Zhangbei HVDC network in the Beijing-Tianjin-Hebei, China would allow for the integration of remote hydro, wind, and solar energy in a transmission loop that guarantees optimization of power flow.
How are the sales of high temperature conductors contributing toward power transmission lines & towers market?
As per estimates, high temperature power transmission lines & towers market is expected to surpass an annual installation of more than 15,000 ckt km by the end of the year 2024. This is essentially on account of the fact that these conductors depict similar dimensions as opposed to an ACSR, however, they are much lighter, stronger, and certainly more conductive. These conductors are also equipped with enhanced expansion coefficient, though they are more costly than traditional technologies.
What are the growth predictions for GCC and African nations?
Over the past decade, there has been a steep proliferation in electricity consumption across African and GCC economies owing to the growing energy demand, primarily from commercial and residential users. According to the EIA, the per capita electric consumption in the Gulf region is predicted to experience a noticeable turnaround by the year 2035, mainly impelled by rapid population expansion. In addition, restoration of electric grid infrastructure in war-affected areas of GCC countries to revive economic stability will spur the power transmission lines & towers market in the region.
Which tactics do industry players adopt to sustain their stance in power transmission lines & towers market?
Some of the distinguished players of the power transmission lines & towers market such as ABB, K-Line, GE, ICOMM, CG, Siemens, EMC, Arteche, KEC, Aurecon, Sterling & Wilson, Kalpataru, General Cable, ShanDong DingChang, Nexans, Prysmian, Zhejiang Shengda, Sumitomo, and Southwire Company have been adopting tried-and-tested tactics such as M&As to thrive in this business. Say for instance, Japan’s Hitachi, recently declared plans to acquire a major stake in ABB’s power grid business, that would make Hitachi the largest power grid firm.
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