SAARC Transmission Lines Market was valued at USD 1 billion in 2023 and is set to grow at 7.1% CAGR from 2024 to 2032, due to the integration of renewable energy sources, technological advancements, and increased cooperation among regions. In addition, active support from the respective governments coupled with public & private investments is complementing the industry. For instance, in October 2021, the Nepal government decided to invest over USD 2.75 billion in the next four years in the construction of infrastructure for electrical supply
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The expansion and modernization of electricity infrastructure in rapidly growing economies including India, Bangladesh, and Nepal are driving significant demand for transmission lines. These countries are investing heavily in upgrading their power grids to meet the rising energy needs of their urbanizing populations. As a result, there is a substantial market for the construction of new high-voltage transmission lines and the refurbishment of existing ones, which in turn will foster the market growth.
|SAARC Transmission Lines Market Size in 2023:
|USD 1 Billion
|2024 to 2032
|Forecast Period 2024 to 2032 CAGR:
|2032 Value Projection:
|USD 2 Billion
|Historical Data for:
|2019 to 2023
|No. of Pages:
|Tables, Charts & Figures:
|Voltage, Conductor, & Country
|Pitfalls & Challenges:
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The transition towards cleaner energy sources has catalyzed the construction of transmission lines, facilitating the connection between distant renewable energy generation sites, like solar and wind farms, and densely populated areas. This shift is not only bolstering the reliability of the grid but also advancing sustainability goals. Market dynamics are being significantly shaped by technological innovations and both private and public investments in the transmission line sector.
The rapid adoption of ultra-high-voltage direct current (UHVDC) transmission technology in countries including India & Bangladesh is gaining prominence due to its capacity to transmit electricity across exceptionally long distances with minimal energy losses. Private companies and investors were increasingly involved in the development and financing of transmission projects, contributing to market growth and innovation.