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At 3.2% Growth Rate, Utility Poles Market Expected to Reach $58.8 billion by 2026

09-28-2021 10:42 AM CET | Energy & Environment

Press release from: Allied Analytics LLP

At 3.2% Growth Rate, Utility Poles Market Expected to Reach $58.8

Increase in the global energy consumption, surge in adoption in the telecommunication industry, and endorsement of steel's material profile as a green material have propelled the growth of the global utility poles market. The major growth drivers for this market are increasing power generation capacity, growing transmission and distribution infrastructure, and replacement of aging networks. Emerging trends which have a direct impact on the dynamics of the market include wider use of transmission monopoles and increased usage of composite poles in transmission and distribution.

Global utility poles market was valued at $45.6 billion in 2018, and is projected to reach $58.8 billion by 2026, growing at a CAGR of 3.2% from 2019 to 2026. Utility pole is an end to end connection of electrical wires that carries and distributes electricity as per the convenience. Therefore, utility poles are designed to be durable in nature. The normal life cycle of a utility pole ranges from 30 to 50 years but this life span varies based on the material used. Traditionally, wood poles were preferred mostly in response to material suitability but gradually wooden poles are getting replaced by steel and now composite based poles due to enhanced properties and benefits associated with them.

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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.

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.
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.

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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. 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.

Some of the major market players studied and profiled in the global utility poles market are
• 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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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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