Utility Pole Market In-Depth Analysis & Marginal Revenue Growth 2019-2026

According to a new report published by Research Dive, the global utility pole market forecast will be $57,052.3 million by 2026, rising from $44,688.0 million in 2018, at a 3.0% CAGR.

Traditionally, only wooden poles have been used in the utility sector, which are now gradually replaced by steel poles. The steel content profile was certified as a green commodity in 2013. Currently, composite material poles are showing better benefits over both steel and wood poles, and the global market could see the likelihood of composite poles replacing steel poles in the next 20 years. This is mainly due to the longer lifetime and better benefits of carbon poles. Nevertheless, the current market for utility poles is driven primarily by wood and steel poles and their demand is growing dramatically across the globe. The global market for utility poles is extremely developed in nature and is expected to show moderate growth during the forecast period.

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Utility pole market drivers:
Increasing the utility poles usage in the electricity sector along with growing demands from telecommunication sector are significantly driving the utility pole market growth. In addition, energy distribution and energy transmission are fundamental applications of utility pole and they play a crucial role in energy network maintenance from energy generating stations to residential homes through sub stations. These factors are anticipated to enhance the growth of the market over future time. On the other hand, upsurge in the alternative communication networks like underground channels is projected to hinder the market growth. Increase in the use of composites for utility poles is rapidly gaining adoption. Composite utility poles are gradually being used for transmission and distribution; these applications are anticipated to create opportunities in the global utility pole market. Moreover, steel material as a green utility pole material is generating attention as a substitute against other competitive utility poles; this is projected to drive the market growth in future.

Transmission poles type is projected to account for $23,027.9 million and at a CAGR of 3.5% over forecast period, majorly owing to increase in the demands of utility poles for high voltage AC & DC systems. Distribution poles type generated the largest utility pole market size in 2018 and is projected to account for $34,024.4 million, at a CAGR of 2.8% over the forecast period. This growth is majorly due to a global rise in the energy demand, which will in turn growing the demand for the utility pole market in the coming years.

North America will have enormous potential for retail holders to expand in the coming years.
Asia-Pacific emerged as the global market leader in 2018 among all countries. This can be highly credible due to the presence of extremely populous countries such as India and China, which are creating enhanced demand for electricity and increasing the rate of access to electricity across the world. The development of power transmission networks in response to the growth in energy is also a key factor in creating healthy demand for electricity in the country.

The North American utility pole market is expected to grow significantly, to $16,167.4 million, to 3.2% CAGR during the forecast period, and to raise from $12,529.6 million in 2018. Development is due to a rise in electricity consumption across the world, creating a significant number of power poles to provide electricity to customers, which is expected to drive the development of the electricity pole industry in the North American region.

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Asia-Pacific led the global market for utility poles and accounted for a bulk of the market share for utility poles of 39.1% in 2018 and is predicted to lead during the forecast period. There is a massive demand for electricity across the country due to the huge population. This factor will drive the growth of the business in this area. Asia-Pacific is expected to reach 23,020.6 million dollars by 2026.

Key Companies Profiled
o El Sewedy Electric Company
o Hill & Smith Holdings Plc
o KEC International
o Valmont Industries Inc.
o Skipper Ltd.
o Omega Factory
o Nippon Concrete Industries Co. Ltd.
o Pelco products Inc.
o Stella-Jones
o RS Technologies Inc.
o FUCHS Europoles GmbH

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This release was published on openPR.