Power Transmission Lines & Towers Market Size, By Product (High Tension (HT), Extra High Tension (EHT), Ultra High Tension (UHT)), By Voltage Level (132 kV, 220 kV, 440 kV, 660 kV, ≥ 765 kV), By Current Level (HVDC, HVAC), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, France, Germany, Russia, China, India, Japan, South Korea, Australia, Saudi Arabia, UAE, South Africa, Brazil, Argentina, Peru), Price Trends, Competitive Market Share & Forecast, 2016 – 2024
Published Date: March 2017 | 160 Pages | Report ID: GMI1182 Report Format: PDF
Power Transmission Lines & Towers Market size was over USD 14 billion in 2015 and is predicted to grow at over 6% by 2024.
Global Power Transmission Lines & Towers Market, By Voltage, 2013 - 2024 (USD Million)
Increasing electricity demand on account of rising urban population will drive the global market size of power transmission lines & towers over the forecast timeframe. In the past decades, utilities and private financial institutions have made significant investments towards the development of new grid infrastructure across the globe. In 2016, U.S. announced the investment of USD 10 billion for developing new grid infrastructure in line of reducing curtailment rate across western transmission network. In 2016, China State Grid had announced the construction of new 6,000 km line in Brazil. The company had already added 10,000 km line to brazil national grid in recent past.
Growing measures towards the renovation and upgradation of existing grid infrastructure will stimulate the power transmission lines market share by 2024. In 2017, U.S. regional electricity utility PJM Interconnection announced the investment of USD 1.5 billion towards the upgradation of Northeast and Midwest states aging high-voltage power systems. Power grid corporation of India is also planning to invest over USD 35 billion towards the capacity addition in the next five years.
Increasing adoption of renewable energy technologies over the existing fossil fuel will further augment the power transmission towers market size from 2016 to 2024. In 2016, U.S. based Clean Line Energy announced the investment of USD 2.5 billion towards the development of new overhead high voltage direct current broadcast systems to carry wind generated electricity from western Oklahoma to Arkansas and southeast U.S. Countries including China, Spain, and U.K are also making significant investments towards the synchronization of their renewable plants with the state and central grids.
Power Transmission Lines & Towers Market, By Product
Market value for high tension power transmission lines & towers 2015 was over USD 7 billion. Measures towards integration of small state grid infrastructures with the national grids will augment the business size over the forecast time. Extra high tension is anticipated to witness substantial growth of over 6% by 2024.
Ultra-high tension power transmission lines & towers market is set to exceed USD 2.5 billion by 2024. Growing investments towards the deployment of high capacity HVDC and HVAC grid lines for transferring electricity over long distance will embellish the business outlook. In 2016, Government of China announced to plough USD 87.37 billion in next five years towards the development of new UHV lines for effectively transfer surplus electricity in remote interior areas by 2020.
Power Transmission Lines & Towers Market, By Voltage Level
Market share of 132KV voltage power transmission lines & towers is predicted to grow over 5% during the forecast period. Growing investments towards the development of EHT network to increase the grid reliability index will add to the revenue of the 220 kV and 440 kV lines.
Power transmission lines & towers market from 660 kV was valued over USD 1.8 billion in 2015. Rising concern towards the enhancement of long distance electricity transmission will stimulate the industry demand.
Power Transmission Lines & Towers Market, By Current Level
HVAC power transmission lines & towers were valued over USD 11 billion for 2015 and are anticipated to witness significant growth owing to high adaptability.
HVDC power transmission lines & towers market is set witness strong growth over 8% by 2024. Growing focus towards the transfer of bulk electricity over long distance will accelerate the industry size. In 2016, Siemens bagged order of USD 137.30 million towards development up of new HVDC interconnection link between India and Bangladesh. Countries including Brazil, China, UK and Germany are also making significant investments towards the deployment of UHVDC structures which in turn will further augment business growth.
Power Transmission Lines & Towers Market, By Region
The U.S. power transmission lines & towers market share is expected to witness growth over 4% by 2024. Numerous initiatives to reduce the line losses will propel the industry size. In 2016, U.S. electric cooperative Great River Energy had awarded USD 130 million order to ABB for the upgradation of ± 400 kV HVDC systems connecting Underwood, North Dakota and Buffalo, Minnesota.
For Europe, UK power transmission lines & towers market share is anticipated to grow over 5% from 2016 to 2024. Rising focus towards grid integration of renewable energy sources will complement the business growth.
China power transmission lines & towers market is set to exceed USD 7 billion by 2024. In 2015, Government of China announced USD 315 billion in line of its grid enhancement program.
UAE power transmission lines & towers market was valued over USD 175 million in 2015. Initiates towards supply of reliable electricity supply to remote O&G fields will positively influence industry outlook.
Competitive Market Share
Key industry players include ABB, Siemens, General Electric, ShanDong DingChang Tower Company, General Cable Technologies, Kalpataru, Prysmian, Nanjing Daji Iron Tower Manufacturing, Zhejiang Shengda Steel Tower Co. Ltd., Sumitomo Electric Industries Ltd., KEC International, Nexans S.A., Corporation, and Southwire Company.
High capital investment coupled with stringent government norms acts as major restraints for the entrance of new players. Companies are venturing with numerous government and public owned firms with the aim to increase its global presence.
Power Transmission Lines & Towers Industry Background
Bulk transfer of electricity with minimum line losses has always been critical issue. High capacity transmission lines & towers play a vital role in facilitating such issues. Advent of green energy revolution has significantly raised the global funding across the power transmission towers market. Adoption of HVDC and UHVDC systems over conventional HVAC systems will further impact the business outlook over the forecast timeframe.
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