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Power Transmission Lines & Towers Market to Worth $210.25 Billion by 2028 - Growing Electricity Demand, Technological Evolution, Transmission Lines Infrastructure, Segmentation Analysis & Future Opportunities by The Brainy Insights

The smart cities project in many developing economies will require the demand for electricity which will ultimately create wide opportunities for power transmission lines & towers industry.

Dallas, Feb. 17, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, The global Power Transmission Lines & Towers market is expected to grow from USD 90.07 billion in 2020 to USD 210.25 billion by 2028, at a CAGR of 10.43% during the forecast period 2021-2028.

Increasing electricity demand and integration of a sustainable electrical network are the some of the factors that is driving power transmission line & towers market.

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Transmission lines are used as a medium to send the power from one place to another. It is not necessary the source of power generation should be the place where it is consumed. As it is far away from the place where it is consumed, the land would be much cheaper here. Also, according to government policy, such loud and polluting stations should be far away from the cities, the place for consumption of electricity. Hence the power transmission lines would be used for transmitting power from the source to the cities, where there would be load centers and the power will be consumed. The power transmission system includes short transmission lines, medium transmission lines and long transmission lines. Transmission tower supports the transmission lines from the generating power stations to source substations and satellite substations in cities. The surging demand for electricity, the infrastructure and initiatives given by the government, to spread the electricity all across the country are the factors driving this market. The increase in peak load demand, because with an increase in disposable income, the standard of living has changed, the lifestyle has changed, this has given them access to all the comfort giving consumer products, which the people are using to feel comfortable and to enjoy quality life. This factor has also driven this market.

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The technological evolution across the developing region is slow. The big problem in developing regions are they have infrastructure issues, and the pace of urbanization is increasing fast. So the organization primarily concentrates more on setting the infrastructure and urbanization, rather than on the technological evolution. So this can act as a restraint for power transmission lines & towers.

Key players operating in the global power transmission line & towers market include MasTec, Sterling & Wilson, Skipper, KEC, Prysmian, Sumitomo Electric, Southwire, Nexans, CG Power, ABB, GE, Siemens, Sterlite, Zhejiang Shengda, Arteche and Adani among others.

• The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global power transmission lines and towers industry. In February 2019, Adani Transmission had acquired KEC Bikaner SikarTransmission Pvt Ltd. By this acquisition of the company, the cumulative network will reach around 13,450 ckt km.

• In August 2018, For instance, Arteche introduced smartVAR IC range, combining harmonic filters and capacitor banks in ISO/DV standard which provides harmonic filtering and reactive power compensation across renewable generation plants.

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The conventional segment held the highest market value of USD 52.86 Billion in 2020

The conductor segment is divided into conventional, high temperature and others. The conventional segment held the highest market value of USD 52.86 Billion in 2020. This is because of the efficient electrical conductivity.

The PVC segment held the highest market value of USD 42.59 Billion in 2020

The insulation segment includes PVC, XLPE and Rubber. The PVC segment accounted for USD 42.59 Billion of market value in 2020. This due to its many properties like high mechanical strength and its fire-retardant nature etc.

The 221 kV to 660 kV segment held the highest market value of USD 46.16 Billion in 2020

The voltage segment includes 132 kV to 220 kV, 221 kV to 660 kV and > 660 kV. The 221 kV to 660 kV segment accounts for the highest market value of USD 46.16 Billion in 2020. This is due to the increase in the deployment of HV electric network.

The HVDC segment held the highest market value of USD 55.12 Billion in 2020

The current segment includes HVAC and HVDC. The HVDC segment accounts for USD 55.12 Billion of market share in 2020. This is because rapid urbanization has created demand for energy which is leading to the requirement of extra and ultra-high-tension transmission infrastructure.

The Ultra High Tension segment accounts for the highest CAGR of around 15.33% in the forecasting period

The application segment includes high tension, extra-high tension and ultra-high tension. The Ultra High Tension segment accounts for the highest CAGR of around 15.33% in the forecasting period. This is due to the surging demand for energy by the industrial and commercial sector.

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Regional Segment Analysis of the Power Transmission Line & Towers Market

• North America (U.S. , Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The Asia-Pacific region is accounted for the highest market value of USD 39.95 Billion in 2020. This is due to the surge in demand for energy in this region because of fast track urbanization and industrialization. Middle East and Africa region is predicted to witness strong growth over the forecast period. This is due to the increasing need for electricity and setting up of many industries.

About the report:

The global power transmission line & towers market is analysed on the basis of value (USD Billion).All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.

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