LONDON--(BUSINESS WIRE)--The global power transmission lines and towers market is expected to grow by USD 8.88 billion as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 5%.
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https://www.technavio.com/report/power-transmission-lines-and-towers-market-industry-analysis
The market is driven by the rapid growth in demand for high-voltage transmission lines in the utility sector. In addition, the need for flexible power systems and changing energy landscape are anticipated to boost the growth of the power transmission lines and towers market.
Factors such as low-cost labor and the availability of cheap raw materials are encouraging major global companies to establish their production base in developing countries such as China and India. Also, the growth in the construction of manufacturing units, retail brands, residential townships, and commercial establishments in these countries have increased the demand for power. Besides, the rise in the penetration of data centers and large communication base stations have significantly increased the consumption of energy. All these factors are resulting in a surge in the demand for HV transmission lines, which is driving the growth of the market.
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Major Five Power Transmission Lines and Towers Companies:
ABB Ltd.
ABB Ltd. operates its business through segments such as Electrification, Industrial Automation, Motion, Robotics & Discrete Automation, and Corporate and Other. The company offers overhead lines for high-voltage direct current (HVDC) electric power transmission system.
AECOM
AECOM operates its business through segments such as Design and Consulting Services, Construction Services, Management Services, and AECOM Capital. The company designs and offers hundreds of overhead, underground, and underwater power transmission lines for the new and upgraded power transmission and distribution systems.
Arteche Group
Arteche Group operates its business through the Unified segment. The company offers a line of high voltage instrument transformers, current transformers, combined transformers, capacitive voltage transformers, and power voltage transformers among others.
Lamifil NV
Lamifil NV operates its business through segments such as Speciality wires, Overhead conductors, and Catenary wires. The company offers a line of overhead capacitors such as AAAC UHC, GAP+, and ACCC ICE+ Soft among others for electricity suppliers and distributors.
MasTec Inc.
MasTec Inc. operates its business through segments such as Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. The company offers high voltage and extra high voltage transmission systems for the most challenging terrains and circumstances.
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Power Transmission Lines and Towers Market Type Outlook (Revenue, USD Billion, 2020-2024)
- HVAC
- HVDC
Power Transmission Lines and Towers Market Geography Outlook (Revenue, USD Billion, 2020-2024)
- APAC
- Europe
- North America
- MEA
- South America
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