Power Transmission Lines and Towers Market Report 2024 - By Size, Share, Trends, Forecast to 2030
Transmission lines for power are an essential component of the grid. They provide energy to consumers and businesses. They are located on private land that utilities lease or purchase from landowners in lengthy "right of way" agreements.
Rapid investment in the the development of efficient distribution and transmission networks will help boost market expansion. The rising demand for electricity across the industrial and commercial industries will further increase the outlook for the industry.
Power Transmission Lines and Towers Market is expected to grow rapidly at a 7.2% CAGR consequently, it will grow from its existing size of from $28 billion in 2023 to $52.85 billion by 2030
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Competitive Landscape of the Power Transmission Lines and Towers Market
- Gupta Power Infrastructure
- LUMPI BERNDORF
- ZMS Cable
- Hindustan Urban Infrastructure
- Midal Cables
- Alfanar
- CABCON India
- Prysmian Group
- Tropical Cable and Conductors
- Sterlite Power
- Galaxy Transmissions
- Arrow Cables
- Kelani Cables PLC
- CMI Limited
- Tokyo Electric Power Company Holdings
- SAE Towers
- ZTT International
- Sumitomo Electric Industries
- Lamifil
- Bekaert
- Eland Cables
- Tratos
- KEC International
- Skipper Limited
- Jyoti Structures
- CG Power and Industrial Solutions
- MasTec
- Nexans
- CTC Global
- Neccon
- 3M
Recent Developments in Power Transmission Lines and Towers Market
In September 2022, UGL Limited completed the construction of three transmission towers which were a part of the project to connect Neoen's Kaban Green Power Hub to the main electricity grid in Queensland, Australia. The company had been working to construct a 257kV switching station that connects the Hub to Powerlink Queensland's network.
In November 2021, the United States House of Representatives passed the USD 1.2 trillion Investment Infrastructure and Jobs Act, which also includes plans to build new power infrastructure by establishing new, resilient power transmission lines to support the expansion of renewables and clean energy.
North America
Contrary to the transportation industry or oil and gas electricity is a tightly controlled business. It is produced precisely at the time it is required as producers continuously match demand and supply that changes dramatically with the weather. It is always in a state of flux, and congestion in any area affects the entire system. This is why the rate of deregulation varies across the nation.
As the transition of the power sector to competition is taking hold several states are wrestling over how to best apply this new system. Certain states have passed laws that allow the bidding process to be competitive for transmission projects, a procedure which would force the local utility to be able to compete against several organizations and other entities during an auction run by the grid operator. Some have enacted laws that give utilities right of first refusal which permits local utilities to manage the development of a project and earn a guaranteed revenue for a long time.
FERC is responsible for assisting the energy market players, also known as RTOs or ISOs with running central auctions that determine the cost of day-ahead as well as real-time transactions. They also have the responsibility of making sure the grid operates effectively, arranging expansions according to predicted requirements and facilitating access to live information. They are also responsible for making decisions about which generators "must-run," and setting their bids according to values which cannot be altered.
Europe
The Europe Power Transmission Lines and Towers Market is anticipated to see significant growth in the near future. The increasing demand for electricity for various industrial applications and the increasing demand for high-efficiency lines and towers with low energy losses is expected to further boost up the adoption rate of the product during the time period of evaluation. In addition the paradigm shift toward adaptation of renewable energy sources to power generation is likely to increase the acceptance.
The European Union (EU) is seeking to create a single power market, with 34 countries interconnected. It has already set up the high voltage direct current (HVDC) connections to Belgium with Germany, the U.K., Norway and Germany and, more recently, the very first north-south route in Germany.
These new connections ease one of Europe's largest electric power bottlenecks. They help the EU achieve its goals for energy and climate change by allowing renewable energy to move freely between nations. Additionally, they permit the cross-border trading of energy, which aids in balancing demand and supply.
Furthermore, the rising use of electricity in rural areas and the increasing requirement for uninterrupted power supply for remote areas has increased both the towers and transmission line market prospects. Furthermore, technological advances like high efficiency, coupled with low energy losses have further fueled the market. The market is classified by insulation, conductor (XLPE PVC, XLPE) applications and voltage. XLPE is anticipated to hold a significant part of the market due to its superior electrical conductivity, lower maintenance required, and better performance.
Asia-Pacific
The Asia-Pacific power towers and transmission lines market is predicted to expand by more than three percent until 2028. The rapid advancement of technology in the region as well as ongoing efforts to create efficient infrastructure will propel expansion. Furthermore, expanding plans and the availability of electricity in remote areas will enhance the market.
In terms of trends, we witnessed an increase in sales and leaseback agreements across the region. PLDT has sold a large portion part of its towers portfolio EdgePoint and KKR, as well as Frontier and Philtower; while Australia's Indara concluded the purchase of Axicom sites. Additionally, Japan's MNO Rakuten opted for innovative network deployment by partnering an established tower company to run the power infrastructure of bases stations.
Additionally there are a lot of large firms in the towers and power transmission lines market are expanding their presence globally through joint ventures and strategic investments. For example, Sterlite won orders worth INR13 billion in India and abroad, which includes the air-insulated switchgear (AISG) projects as well as a substation project and the transmission line contract.
The company also has signed an arrangement with Malaysian public service provider Tenaga Nasional Berhad to improve Asean grid interconnection. At present, TNB has interconnections in Peninsular Malaysia with Indonesia and Thailand and is currently exploring other connections that connect with Laos, Singapore, and Vietnam via various memorandums between the two countries.
Middle East & Africa
The Middle East and Africa Power Transmission Lines and Towers Market is expected to grow steadily with an annual growth rate of 6.92 percent during the forecast time. This is driven largely by the rising demand for power throughout the Middle East and Africa region.
The market is also expanding because of the increasing investment in developing efficient and reliable power grids. Furthermore, the growth of investment into renewable energy initiatives is fueling the demand for transmission lines that carry electricity.
The new investments are being backed by a growing quantity of GCC credit institutions who have decided to target the continent as a potential area that can be a long-term source of investment. These companies are harnessing their extraordinary liquidity to establish themselves as the leading lenders in sub-Saharan Africa.
Furthermore to that, the GCC is becoming more dedicated to establishing regular trade relations with Africa. This is evident by an agreement to negotiate an extensive economic partnership agreement with Kenya that was signed in summer 2022.
The African market for power transmission is a bit underdeveloped. In certain instances it is because of the shortage of capital available that hinders the construction of projects. Another reason is the high cost of building transmission lines.
However, switching to BOLD lines could dramatically reduce the costs of transmission of power in sub-Saharan Africa. These lines utilize existing rights of way and provide a variety of benefits, including a 60% growth in the capacity of load transfer and up to a 30 percent reduction in losses to the line.
Segments Covered in the Power Transmission Lines and Towers Market
Power Transmission Lines and Towers Market by Product
- Transmission Lines
- Transmission Towers
Power Transmission Lines and Towers Market by Conductor
- Conventional
- High Temperature
- Others
Power Transmission Lines and Towers Market by Insulation
- PVC
- XLPE
- Others
Power Transmission Lines and Towers Market by Voltage
- 132 kV to 220 kV
- 221 kV to 660 kV
- 660 kV
Power Transmission Lines and Towers Market by Current
- HVAC
- HVDC
Power Transmission Lines and Towers Market by Application
- High Tension
- Extra High Tension
- Ultra High Tension
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