Transmission Tower Market - Forecast (2024 - 2030)
Transmission Tower Market Overview
The Transmission Tower Market size is forecast to reach US$ 3.5 billion by 2027, growing at a CAGR of 7.6 % from 2022 to 2027. Transmission towers also known as electricity pylons are large structures that?support high-voltage transmission lines. Sub-transmission systems are the circuits that supply?distribution to substations.?In?electrical grids and sub-transmission, they are generally used to carry?high voltage direct current through?transmission lines that transport bulk?electric power?from?generating stations to?electrical substations;?utility poles?are used to support lower-voltage?sub-transmission and?distribution lines?that transport power from substations to electric customers. Electrode line towers are used in some HVDC schemes to carry the power line from the converter station to the grounding electrode. The growth contributing factors for this market is the increase in peak loads by domestic and industrial users, expanding urban settlements, and the need for the upgradation of aging infrastructure to reduce drawbacks of the system. However, factors such as high safety risk for people near transmission towers and energy loss during transmission restrain the growth of this market.
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Transmission Tower Market Report Coverage
The report: “Transmission Tower Industry Outlook – Forecast (2022-2027)”?by IndustryARC, covers an in-depth analysis of the following segments in the Transmission Tower industry.
By Signal type: Radio waves, Electrical( AC, DC ), Electromagnetic waves. By Material:?Steel (Galvanized, Tubular ), Aluminium, Wood, Concrete. By Circuitry: Single circuitry, Double circuitry, Multi circuitry. By Structure: Waist type tower, Guyed V tower, Tubular Steel Pole, Suspension Towers( Suspension Straight towers, Suspension Angle towers), Angled tower (Type A, Type B, Type C, Type D ), Tension towers, Terminal towers, Transposition towers. By End-user:?Government, Railway, Telecommunication, Defense, Power and Energy, Others. By Geography: North America (the U.S., Canada, Mexico), Europe(the UK, Germany, France, Italy, Spain, Others), APAC (China, Japan, South Korea, India, Australia, Others), South America (Brazil, Argentina, Others), RoW (Middle East, Africa).
Key Takeaways
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Transmission Tower Market Segment Analysis- By Circuitry
The?Transmission Tower Market?by circuitry has been segmented into single?circuitry, double circuitry, and multi circuitry. The double circuitry segment held the largest?Transmission Tower Market?size of 45%, in 2021. This is owing to the transfer of more power using double circuitry transmission, increased reliability of power supply and ease of maintenance. Mechanical and electrical loads are balanced equally on towers in double circuitry. This double circuitry is widely used by governments, power plants and other energy stakeholders. In Nov 2021, TATA Projects announced that the company has forayed into Bangladesh's Transmission & Distribution sector by securing a 400 KV double circuitry transmission project valued at approximately Rs 900 crore from Power Grid Company of Bangladesh Limited (PGCB). In April 2022, Colorado’s Power Pathway is a US$1.7 to $2 billion?investment proposed by state utility Xcel Energy to improve regional power infrastructure. The project, which was approved by regulators in February, will have enough capacity to transmit 5,500MW of wind and solar energy to the electrical grid through new double circuitry transmission towers. Thus, many such emerging projects with double circuitry are developing which drives the growth of the?Transmission Tower Market.
Transmission Tower Market Segment Analysis - by Structure
The Transmission Tower Market?by structure has been segmented into waist type towers, guyed v towers, tubular steel pole, suspension towers (suspension straight towers, suspension angle towers), angled towers (type a, type b, type c, type d ), tension towers, terminal towers, and transposition towers. The waist-type tower segment held the largest share of 35%, in 2021.?This is due to the wide range of use voltages ranging from 110 to 735 kV, ease of assembly, and suitability for uneven terrain. The waist type of tower has a steel-based stable structure which makes it extensively used all over the world. For instance, MEGATRO by Qingdao Megatro Mechanical and Electrical Equipment Co. provides 500KV waist-type towers used in power transmission & distribution and other applications. These towers are fit for mid and high-voltage power transmission line project and it is in compliance with ASTM or ISO standard. They are cost-effective and supplied on a large scale in China. Hence, owing to the ease of assembly, maintenance and cost-effectiveness, waist type tower is commonly used which helps in growth of Transmission Tower Market.
Transmission Tower Market Segment Analysis - by Geography
APAC (Asia-Pacific) held the largest?Transmission Tower Market?size with 40% of the total market size. This is attributed to the upgradation of power grid technology to meet increased energy demand, expanding urban settlements, and renewable energy integration requirements. There are various plans and subsidies by the government to upgrade and expand the transmission tower network in developing Asian countries such as India, Bangladesh, the Philippines and others which helps the market growth. In Feb 2020, In the Philippines, state-run National Power Corp. (NPC) has committed to rehabilitating the 84-km (55-mile), 69-kV Calapan-Bansud transmission line in Oriental Mindoro. The infrastructure modernization will provide a more resilient and reliable power facility in the province. In 2019, Vietnam’s National Power Transmission Corp. (EVNNPT) launched 36 power electricity pylon projects. Four of them are 500-kV transmission line projects, including the Long Thành and Nho Quan Power substations, and the rest are 220-kV transmission line projects. Thus, growing government projects and the advent of new renewable energy power plants in Asian countries is escalating market growth.?