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Based on voltage the 132 kV to 220 kV voltage transmission lines industry is anticipated to observe around 7.7% growth rate from 2023 to 2032. Driven by the need to expand and strengthen medium-voltage transmission networks to accommodate urbanization and industrialization. Investments in renewable energy projects are also propelling this segment as they demand efficient grid connections.
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Based on conductor, the high temperature transmission lines market is set to showcase 8.4% CAGR through 2032. The market is undergoing a transition towards the adoption of high-temperature transmission lines, primarily propelled by the imperative to enhance power grid reliability and electricity supply. High-temperature lines offer the advantage of accommodating higher current loads while minimizing energy losses, rendering them particularly well-suited for the extensive and diverse landscapes prevalent in the region. In addition, the region's growing commitment to the integration of renewable energy sources, often located in remote areas, underscores the necessity for high-temperature transmission lines to efficiently transport clean energy to urban hubs.
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India transmission lines market is estimated to attain a CAGR of over 8.2% through 2032. The persistent drive to reinforce and extend the transmission infrastructure in response to the swiftly escalating electricity requirements of the nation is a key catalyst for market expansion. In addition, the rapid urbanization, industrial growth, and initiatives aimed at electrifying rural areas are spurring substantial investments in both the development of new transmission lines and the modernization of the grid system.
In November 2022, the government of India planned to invest a total of USD 34.2 billion by the year 2030 to establish an extensive interstate transmission network (ISTs) aimed at efficiently evacuating renewable energy. This strategic investment is vital in ensuring the smooth and seamless transmission of renewable energy generated in various states to the consumption centers across the country.