Press release
Power Transmission Lines & Towers Market 2020-2026 | Evolving Opportunities with ABB, Nexans, General Electric
Power Transmission Lines & Towers Market
The size of Power Transmission Lines & Towers Market was registered at 108.8 Billion (USD) in the year 2019 and is anticipated to cross 191.0 Billion (USD) by 2026. Between the period 2020 to 2026, the Power Transmission Lines & Towers Market is expected to register a CAGR of 8.3%.In Australia, the Melbourne based energy company, AusNet Services has signed a deal with Goldwind Australia and the Australian Energy Market Authority to build a power transmission network outside Victoria. AusNet plans to deploy power transmission lines from the Stockyard Hill Wind Farm to the Haunted Gully. The construction of this line will begin in July 2018 and will last for the end of 2019, with an investment of AUD 140 million.
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With AusNet Services being one of largest diversified energy network business in Victoria operating three regulated networks, experts deem that the construction of this transmission line will prove to be highly profitable for the region. Australia is likely to be a witness to many more such investments to build electricity transmission and distribution lines, thereby stimulating the regional power transmission lines and towers market size.
Some of the major Growth Drivers:
o North America and Europe
o Stringent energy efficiency norms
o Expansion of smart grid networks
o Refurbishment & retrofit of existing grid infrastructure
o Asia Pacific
o Rising peak load demand
o Expansion of micro-grid networks
o o Middle East & Africa and Latin America
o o Increasing electricity demand
o Integration of a sustainable electrical network
It would be prudent to mention that transmission lines need to be refurbished after few years of use due to damages. Regional governments have been implementing power grid policies in this regard, to reinstall damaged transmission lines, further augmenting this business space.
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Market Competitors:
o MasTec
o Sterling and Wilson
o KEC International
o Prysmian
o Sumitomo Electric
o Southwire
o Nexans
o CG Power & Industrial Solutions
o ABB
o General Electric
o Siemens AG
o Sterlite Power
o Zhejiang Shengda Steel Tower Co. Ltd.
o Arteche
o Skipper
The fast-track implementation of power projects across the globe are remarkably strengthening the power transmission lines and towers market. Furthermore, the shifting trends toward the growing adoption of renewables for fulfilling energy needs will also boost the product demand over the years ahead. Aided by continuous maintenance activities and transmission line construction projects to enable uninterrupted power supply, by the end of 2024, power transmission lines and towers market size is expected to cross USD 60 billion.
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DecResearch.com, powered by Global Market Insights, is an online aggregator of information on market research reports. The website provides comprehensive information as well as a detailed 'Table of Contents' for reports being regularly published by GMI.
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