Utility Pole Market: Comprehensive Scope | Asia Pacific Huge Growth by South Korea, Japan, Taiwan, Singapore, Hong Kong
Global Utility Poles Market Projected to hit USD 58.8 billion by 2026
WILMINGTON, DELAWARE, UNITED STATES, March 5, 2024 /EINPresswire.com/ --
According to a new report published by Allied Market Research, The global utility pole market was valued at $45.6 billion in 2018, and is projected to reach $58.8 billion by 2026, growing at a CAGR of 3.2% from 2019 to 2026.
A utility pole, also known as a power pole, telephone pole, telegraph pole, or electricity pole, is a tall structure typically made of wood, steel, or concrete that supports overhead power lines, communication cables, and other utilities such as street lights and traffic signals. These poles are strategically placed along roads, streets, and in various locations to distribute electricity and provide communication services to homes, businesses, and other establishments.
Click Here to Request PDF: https://www.alliedmarketresearch.com/request-sample/5939
Rise in the global energy consumption, increase in adoption in the telecommunication industry, and endorsement of steel's material profile as a green material have propelled the growth of the global utility pole market. However, surge in trend for underground wire or cables network and regulations against deforestation hamper the market growth.
Utility poles are essential for maintaining the infrastructure necessary for the functioning of modern society. They can vary in height and design depending on the specific requirements of the utilities they support and the local regulations governing their installation.
Asia-Pacific region, followed by North America, to become lucrative segmentThe global utility pole market across Asia-Pacific, followed by North America, held the largest share in 2018, contributing to nearly two-fifths of the market. Moreover, the region is expected to register the fastest CAGR of 3.6% through 2026, due to increase in demand for telecom service and rise in focus on technological advancements coupled with presence of several new players in the region.
Some of the major market players studied and profiled in the global utility poles industry are Valmont Industries Inc., Skipper Ltd., Nippon Concrete Industries Co. Ltd., El Sewedy Electric Company, Hill & Smith Holdings PLC, Stella-Jones, FUCHS Europoles GmbH, Omega Factory, Pelco products Inc., RS Technologies Inc., and others.
The distribution pole emerged as the global leader in 2018 and a similar segment likely to continue its dominance on the global utility pole market. Electric distribution activities required a repeated number of poles as per the electricity demand which drives the growth of this segment.
Click Here to Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/5939
The wood is the largest revenue-generating segment in 2018. Wood is the pioneer material in the pole making industry due to which it is still used significantly across the globe.
The energy transmission and distribution is the major segment accounted for around 70% market share in 2018. Utility poles are mainly required in the energy transmission and distribution activities that make this segment the largest one among others.
Composite utility poles offer the longest lifespan due to which it is expected to register highest CAGR during the forecast period.
Some of the other factors driving the adoption of utility poles are the expansion of existing electricity networks, increase in electricity access rate in developing and underdeveloped countries, and the introduction of monopoles.
Monopoles are the latest invention in this market, however, lack of awareness associated with them is holding the market from maximizing the growth.
Composite poles are also introduced in the market that is showing greater potential for the coming years.
This pole type has superior properties and is lightweight as compared to other poles, due to which composite poles are expected to register the highest CAGR during the forecast period.
Get a Customized Research Report: https://www.alliedmarketresearch.com/request-for-customization/5939
Steel’s material profile is approved as a green material and the market has seen different growth perspectives thereafter.
Most of the aged wooden utility poles have started to replace from steel poles due to greater benefits such as ease of installation, reliability, durability, life cycle cost, and environmental considerations.
Currently, there are more than 150 utility poles are in service in North America (of which more than 70% are wooden) and around 2.5 million are getting replaced by steel poles. As a result, steel-based poles likely to have a promising future during the forecast period.
Utility pole is an end to end connection of electrical wires that carries and distributes electricity as per the convenience. Therefore, utility poles are designed to be durable in nature.
The normal life cycle of a utility pole ranges from 30 to 50 years but this life span varies based on the material used.
Buy This Report (150 Pages PDF with Insights, Charts, Tables, and Figures): https://bit.ly/3Mc5pD4
Wood poles were preferred mostly in response to material suitability but gradually wooden poles are getting replaced by steel and now composite based poles due to enhanced properties and benefits associated with them.
Trending Reports in Energy and Power Industry:
Voltage Transformer Market
Renewable Energy Transformer Market
Instrument Transformers Market
Transformers Market
Dry Type Transformer Market
Power Transformer Market
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
+18007925285 ext.
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
