Global Electricity Transmission Towers Market Market to Witness Increased Revenue Growth Owing to Rapid Increase in Demand
Electricity transmission towers are units that support power carrying conductors, i.e. overhead power lines between the generating end station and the local end substation. Electricity transmission towers play a vital role in delivering power through overhead lines by structurally supporting heavy high-voltage conductors. To transmit maximum power (110 kV or above) through overhead lines, typically towers have a height varying between 15 meters and 55 meters to withstand the tension. Normally, for heavy power transmission, HVDC (high-voltage direct-current) technology is used in long distance transmission to reduce power losses, and limit voltage drops; these DC conductors carry uniform voltage throughout their cross-sectional area. At maximum efficiency, the sending-end voltage should be equal to the receiving-end voltage, without any voltage drop out.
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Electricity (both power and energy) is a commodity that can be traded in a market place, such as to transmit electricity to a rural place, where the generated power is delivered to consumers, known as end users and also to manufacturing industries. In this process, transmission towers are essential to carry power, which drives the electricity transmission towers market. Aging tower infrastructure necessitates replacement with new towers, and hence drives the electricity transmission towers market.
Electricity transmission towers have high tensile strength, and are designed as per the power rating of the conductor and supply frequency to withstand natural calamities and temperatures without losses. Transmission towers carrying high tension conductors with ground level clearance must be designed appropriately after calculating SAG. SAG is defined as the difference between the level between points of support and the lowest point on a conductor. Electricity transmission towers consist of the following parts:
Boom of transmission tower
Transmission tower body
Peak of transmission tower
Cage of transmission tower
Cross arm of transmission tower
Stub/ anchor bolt and base plate assembly transmission tower
Leg of transmission tower
For residential or short distance purposes, electricity transmission towers are selected on the basis of usage and capacity of power conductors, whereas for long distances all the factors to be considered. Increasing population and growing demand for electricity drives growth of the electricity transmission towers market. Developing countries in the APAC region, such as India and China are estimated to hold a relatively high market share due to power deficiency, and lack of power supply in rural areas. After Asia Pacific, Europe is forecasted to capture a relatively high market share due to a high necessity for power in the increasing number of industries. North America and the Middle East collectively hold the third spot in terms of market share, owing to increase in industries, manufacturing, and oil and gas. Growing demand for electricity across the globe has created new opportunities for the global electricity transmission towers market.
Global Electricity Transmission Towers Market: Segmentation
The global electricity transmission tower market can be segmented in a number of ways, of which two prominent classifications can be derived on the basis of type and design.
The global electricity transmission tower market, segmented on the basis of type:
The global electricity transmission tower market, segmented on the basis of design:
Global Electricity Transmission Towers Market: Key Trends and Drivers
Growing demand for electricity and an increased rate of industrialization in developing countries drives the growth of the electricity transmission tower market. Aging infrastructure and increasing rate of bulk power transmission across long distances drives growth of the electricity transmission towers market. Varying steel prices, availability of steel, and import and export restrictions may impact the electricity transmission towers market.
Global Electricity Transmission Towers Market: Market Participants
Examples of some of the market participants identified across the value chain include Zhejiang Shengda Steel Tower Co. Ltd., Prysmian S.p.A., Nanjing Daji Iron Tower Manufacturing Company Ltd., Weifang Changan Steel Tower Stock Company Ltd., Associated Power Structures Pvt. Ltd., Karamtara Engineering Pvt. Ltd., Sumitomo Electric Industries Ltd., and Nexans S.A.
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