Utility Poles Market Strategic Insights & key Business Influencing Factors 2019-2026 | Key Players Skipper Ltd., Nippon Concrete Industries Co. Ltd., Stella-Jones
The global utility poles market is highly established in nature and it is expected to register a single-digit growth of 3.2% during the forecast period. Countries with higher population density and increasing electricity access rates have been generating higher demand for utility poles. On the other hand, established country-level markets such as the U.S., China, UK, India, and others have already established an electricity distribution network, where revenue is coming from pole replacement activities.
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Steel's material profile is approved as a green material and the market has seen different growth perspectives thereafter. Most of the aged wooden utility poles have started to replace from steel poles due to greater benefits such as ease of installation, reliability, durability, life cycle cost, and environmental considerations. Currently, there are more than 150 utility poles are in service in North America (of which more than 70% are wooden) and around 2.5 million are getting replaced by steel poles. As a result, steel-based poles likely to have a promising future during the forecast period.
Some of the other factors driving the adoption of utility poles are the expansion of existing electricity networks, increase in electricity access rate in developing and underdeveloped countries, and the introduction of monopoles. Monopoles are the latest invention in this market, however, lack of awareness associated with them is holding the market from maximizing the growth. In addition, composite poles are also introduced in the market that is showing greater potential for the coming years. This pole type has superior properties and is lightweight as compared to other poles, due to which composite poles are expected to register the highest CAGR during the forecast period.
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Some of the major market players studied and profiled in the global utility poles market are Valmont Industries Inc., Skipper Ltd., Nippon Concrete Industries Co. Ltd., El Sewedy Electric Company, Hill & Smith Holdings PLC, Stella-Jones, FUCHS Europoles GmbH, Omega Factory, Pelco products Inc., RS Technologies Inc., and others.
Key Findings of the Study:
o By type, distribution pole emerged as the global leader in 2018 and a similar segment likely to continue its dominance on the global utility poles market. Electric distribution activities required a repeated number of poles as per the electricity demand which drives the growth of this segment.
o By material, wood is the largest revenue-generating segment in 2018. Wood is the pioneer material in the pole making industry due to which it is still used significantly across the globe. However,
o By application, energy transmission and distribution is the major segment accounted for around 70% market share in 2018. Utility poles are mainly required in the energy transmission and distribution activities that make this segment the largest one among others.
o Composite utility poles offer the longest lifespan due to which it is expected to register highest CAGR during the forecast period
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