Utility Poles Market Analysis, Promising Growth Opportunities and Outlook - 2026

Allied Market Research recently published a report, titled, "Utility Poles Market by Type, By Material, Pole Size, and Application: Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global utility poles industry was pegged at $45.6 billion in 2018 and is projected to reach $58.8 billion by 2026, registering a CAGR of 3.2% from 2019 to 2026.

Growth in the global energy consumption, rise in adoption in the telecommunication industry, and approval of steel's material profile as a green material have boosted the growth of the global utility poles market. However, increase in trend for underground wire or cables network and regulations against deforestation hamper the market growth. On the contrary, advent of composites in the utility sector is expected to create lucrative opportunities in the near future.

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Based on material, the market is segmented into concrete pole, steel pole, wooden pole, and composite pole. The concrete pole segment is expected to manifest the fastest CAGR of 3.7% from 2019 to 2026. However, the wooden pole segment dominated the global utility poles market in 2018, accounting for nearly half of the market.

Based on product, the distribution pole segment contributed for the largest share in 2018. Based on material, the concrete pole segment accounted for major market share. However, the transmission pole segment is expected to register the fastest CAGR of 3.6% from 2019 to 2026.

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.

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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.

Based on region, the market is analyzed across Asia-Pacific, North America, LAMEA, and Europe. The global utility poles market across Asia-Pacific held the largest share in 2018, contributing to nearly two-fifths of the market. Moreover, the region is expected to register the fastest CAGR of 3.6% through 2026.

Major market players
• Skipper Ltd.
• Valmont Industries Inc.
• El Sewedy Electric Company
• Nippon Concrete Industries Co. Ltd.
• Stella-Jones
• Hill & Smith Holdings PLC
• Pelco products Inc.
• Omega Factory
• RS Technologies Inc.

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This release was published on openPR.