U.S. Electric Towers & Poles Market size is anticipated to surpass USD 6 billion by 2028, as reported in the latest study by Global Market Insights, Inc.
U.S. electric towers & poles industry will experience growth owing to increasing electricity demand along with rapid integration of renewable energy resources in existing electricity infrastructure. Ongoing advancements in the deployment of an effective Transmission & Distribution (T&D) grid infrastructure coupled with a growing expansion of interstate border interconnection networks will drive the industry outlook.
Modernization of the existing grid infrastructure to improve electrical security and reliability will complement the industry statistics
U.S. distribution poles industry is poised to surpass 4 billion by 2028. Ongoing construction of housing units across the U.S. will encourage the product deployment. In addition, rising electricity demand combined with the revamping and refurbishment of traditional grid networks will propel the business dynamics. The introduction of various government schemes and policies to promote integration of renewable sources will fuel the industry share.
Browse key industry insights spread across 245 pages with 195 market data tables & 31 figures & charts from the report, “U.S. Electric Towers & Poles Market Forecasts By Product (Transmission Towers, Distribution Poles), Voltage (≤ 11 kV, > 11 kV - 33 kV, > 33 kV – 66 kV, > 66 kV – 132 kV, > 132 kV), Industry Analysis Report, State Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
Deployment of smart grid network to augment efficiency, flexibility and reliability will boost product demand
Rising concerns of uninterrupted power supply, followed by electrical faults, fire, health & other operational hazards will accelerate the market statistics. Increasing construction activities across commercial and residential establishments will drive the deployment of ≤ 11 – 33 kV capacity-based distribution poles. Moreover, a paradigm shift toward the development of micro-grid infrastructure coupled with continuous efforts in the decentralization of grid networks will complement the business spectrum.
Stringent government policies, incentives, and schemes to adopt energy efficient units will complement the market size
New Mexico tower industry will witness an annual installation of over 1,100 units by 2028. An increasing number of housing units across the states including California, Oklahoma, New Mexico, Louisiana, and Texas along with a rising necessity for uninterrupted & sustainable electricity supply will fuel product deployment. For instance, in June 2021, the Santa Fe city of New Mexico witnessed significant growth with over 4,500 residential units which are either completed or under construction, resulting in the installation of additional electric supply units and grid infrastructure.
Rising demand for distributed energy technologies coupled with integration of renewables will augment the U.S. electric towers & poles market demand
During the pandemic outbreak, the power sector was operational followed by regular monitoring and maintenance of electrical supply units. Additionally, the power industry faced minimal impact as prohibitions were not imposed in terms of deployment and construction of renewable power projects. Moreover, construction activities related to new grid development along with other critical infrastructure were operational during the outbreak. Furthermore, the growing necessity for energy efficient systems in line with the replacement of aging infrastructure will complement the U.S. electric towers & poles market expansion.
Strategic partnerships & agreements coupled with innovations by key players will boost the business dynamics
Strategic implications including agreements, mergers, joint ventures, partnerships, and acquisitions by the leading companies to strengthen their industry presence will augment the business outlook. For instance, in September 2021, Quanta Services acquired Blattner Holding Company, a utility-scale renewable energy infrastructure solution provider based in the U.S. This acquisition will increase the company’s management & infrastructural expertise to develop energy infrastructure and a carbon-neutral economy through clean energy distribution.
Eminent players operating across the U.S. electric towers & poles market include MYRGROUPINC, Quanta Services, Valard Construction, KEC International, Burns & McDonnell, Kiewit Corporation, AECOM, Wilson Construction Company, PLH Group, Power Line Services, H&M Shared Services, MMR Group, MasTec, MDU Construction Services Group, Primoris Services Corporation, MEYER UTILITY STRUCTURES Valmont Industries, and Sabre Industries.