Power Transmission Lines & Towers Market to Hit USD 25 billion by 2024: Growth Analysis, Company Profiles & Trends

Power Transmission Lines & Towers Market size is set to exceed USD 25 billion by 2024, according to a new research report.
Growing investments towards renovation and modernization of electric grid coupled with increasing demand for safe and reliable electricity supply will stimulate the power transmission lines & towers market share over the forecast timeframe. In 2017, U.S. based PJM Interconnection electricity utility announced the spend USD 1.5 billion to upgrade aging gridline between Midwest to Northeast with advance security systems. European countries including UK, Russia, France and Germany are also making significant investments towards the upgradation of their conventional electric grid architecture.
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Growing adoption of clean energy including solar, wind, and small hydro has significantly increased the demand for microgrid networks which in turn will positively influence the power transmission lines & towers market. In 2015, Government of India has announced to fund over USD 6 billion for the development of separate lines for transmitting green electricity to end consumer.
Power transmission lines & towers market from ultra high tension is set to witness growth over 9% by 2024. Rising investments to transmit generated electricity over long distance will embellish business growth. In 2016, Government of China announced spend over USD 85 billion towards the development of new UHT structures over the next four years.
HVDC power transmission lines & towers market for 2015 was valued over USD 2 billion. Growing concern towards the enhancement of grid reliability and security will positively impact the industry landscape.
U.S. power transmission lines & towers market size is anticipated to exceed over USD 1 billion by 2024. Federal government initiatives towards enhancement of security features to the grid architecture will stimulate the industry growth.
For Europe, France power transmission lines & towers market size for 2015 was valued over USD 450 million. Government measures towards to reduce the curtailment rates will augment the business outlook. In 2016, the country has initiated the construction of 150 miles' undersea network which is considered as one of the largest undersea project across the region.
China power transmission lines & towers market size is anticipated to rise over 8% over forecast timeline. In 2015, Government of China had released the new reform plan pertaining to transmission grid construction under which they are planning to invest USD 280 billion for the upgradation of UHV and EHV networks. India was valued over USD 1 billion for 2015. Growing measures to deal with blackouts coupled with initiatives to interconnect all the state and central grid network will complement the business outlook.
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Brazil power transmission lines & towers market size is anticipated to expand over USD 1 billion by 2024. Increasing investments by foreign utilities including State Grid Corp. of China. May positively favor the growth.

Key industry players includes Nanjing Daji Iron Tower Manufacturing, Sumitomo Electric, General Electric, Kalpataru, ABB, KEC International, Southwire Company, ShanDong DingChang Tower Company, General Cable Technologies, Siemens, Prysmian, Zhejiang Shengda Steel Tower, Nexans and others.

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