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

• The double circuitry segment held the largest Transmission Tower Market?share in the Transmission Tower Market?segmented by circuitry, in 2021. This is owing to ease of maintenance, more power transmission capacity and a cost-effective system.
• The waist type tower segment held the largest?Transmission Tower Market?share in the?Transmission Tower Market?by structure, in 2021. This is attributed to ease of assembling, suitable for uneven terrain and wide range of voltage transmission
• APAC (Asia-Pacific) market held the largest market share of 40%, in 2021. This is due to high government initiatives, expanding urbanization in developing countries and growing research and development of renewable energy resources
• The increase in peak loads by domestic and industrial users, expanding urban settlements, growing use of high voltage direct current (HVDC) technology and growing government initiatives are?the contributing factors to the growth of?Transmission Tower Market.

Transmission Tower Market Value Share, By Geography, 2021 (%)

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.?

Transmission Tower Market Drivers

There are several government initiatives and projects to replace transmission towers with advanced features which help promote the market growth

Transmission towers are mainly used for power transmission governed by most governments across various countries. The governments are now increasingly taking efforts to upgrade or install advanced technology-compatible transmission systems such as high-voltage technology. Renewable energy power plant sources such as solar, wind, hydrogen and nuclear are growing in many countries due to which the demand for transmission towers is rising. Rapid urbanization is also one of the factors for the expansion of transmission systems by governments. In Sept 2020, the Government of India has taken major steps to strengthen the power transmission and distribution network and also made initiatives such as UDAY, that will enable the financial turnaround of power distribution companies in the country. In May 2021, according to the U.S., government Department of Energy, the president announced a US$2 trillion infrastructure proposal that will lay thousands of miles of transmission lines needed to build a resilient and fully clean grid. Later, the administration announced $8.25 billion in new Energy Department loans?to finance innovative transmission projects, including those to transport renewable energy generated in the West, tribal nations and Alaska Native corporations.?Thus, governments of developed as well as developing nations are contributing to the growth of the?Transmission Tower Market.

The advent of new renewable energy power plants and advancements in high-voltage direct current transmission drive the?Transmission Tower Market?growth.

Transmission towers are advancing as per the innovations in energy sources such as solar, wind, hydrogen and nuclear. They require various configurations of transmission towers and lines with the integration of solar and wind farms. These large-scale renewables and long-distance transmission towers have growing innovations in terms of the frequency range, reduced energy losses and other specifications. The technologies such as electrode line are emerging owing to its advantages such as low energy losses in transmission over towers, better voltage regulation and control ability, reduced line cost due to fewer conductors and towers required are cheaper, simple and narrow in structure. In April 2022, a planned offshore wind project in New York, for first time will leverage high-voltage direct current (HVDC) technology to support offshore wind in the United States. In a consortium with Aker Solutions, Siemens Energy is supplying the HVDC transmission tower system for Sunrise Wind as the project seeks to deliver enough clean and renewable energy. Thus, growing high voltage direct current technologies as well as renewable energy sources are boosting the growth of the?Transmission Tower Market.

Transmission Tower Market Challenge

There is still the persisting issue of loss of energy during transmission from transmission towers which hinders the growth of the market

Transmission towers, electrode lines and transmission lines both are made of metal or other conductive materials which are prone to absorption, convection or radiation loss of energy. Hence, many of the conventional structures and models of transmission towers are upgraded mainly to reduce energy losses. According to the Electrical India report, technical losses are normally 22.5% and directly depend on the network characteristics and the mode of operation. The major number of losses in transmission towers is due to the material, unequal distribution of loads and transformer losses. As transmission and sub-transmission lines account for only about 30% of the total losses and vary from country to country as well. Another study by the U.S. Department of Energy Energy Efficiency and Renewable Energy Industrial Technologies Program indicates Energy lost in transmission and distribution about 6% – 2% in transmission and 4% in distribution – or 69 trillion Btus in the U.S. Thus, transmission towers and system losses cannot be completely eliminated however there are efforts made in terms of technology to reduce these significant energy losses as much as possible. This loss of energy over transmission towers hinders the growth of this market.

Transmission Tower Industry Outlook

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Transmission Tower industry. The top 10 companies in the?Transmission Tower Market?are:

1. ABB Ltd 2.?General Electric Energy 3. Jyoti Structures Ltd. 4.?KEC International Ltd. 5.?SAE towers 6.?Alstom 7.?General Cable Corporation 8.?Weifang Changan Steel Tower Stock Company Ltd. 9. Qingdao BST Steel Structure Co. Ltd. 10. MasTec

Recent Developments:

• In May 2022, The Iraqi Ministry of Electricity announced the launch of a new electrical power transmission line with a capacity of up to 2000 megawatts in preparation for the summer. The ministry’s statement stated that the staff of the General Company of Electricity Transmission of the Southern Region managed to get the new transmission line to work.
• In February 2022, South Australia’s high-voltage transmission network company ElectraNet announced the construction of the South Australian (SA) section of the 900-kilometer Project Energy Connect, which will link the energy grids of SA, New South Wales (NSW) and Victoria, is now underway with the first of an estimated 380 new transmission towers installed at Robertstown in the state’s mid-north.?
• In November 2021, Bentley Systems, Incorporated, the?infrastructure engineering software?company, announced that it has entered into a definitive agreement to acquire Power Line System, a leader in software for the design of overhead electric power transmission lines and transmission towers from private equity firm TA Associates for approximately $700 million.?This acquisition will help Bentley system to gain a significant market share with the help of Power line systems technology integrations and customer base.