Increasing electricity demand and integration of a sustainable electrical network are some of the factors that are driving power transmission line & towers market. The smart cities project in many developing economies will increase the demand for electricity, which will ultimately create wide opportunities for power transmission lines & towers industry.
Transmission lines are used as a medium to send the power from one place to another. It is not necessary the source of power generation should be the place where it is consumed. As it is far away from the place where it is consumed, the land would be much cheaper here. Also, according to government policy, such loud and polluting stations should be far away from the cities, the place for consumption of electricity. Hence the power transmission lines would be used for transmitting power from the source to the cities, where there would be load centers and the power will be consumed. The power transmission system includes short transmission lines, medium transmission lines and long transmission lines. Transmission tower supports the transmission lines from the generating power stations to source substations and satellite substations in cities. The surging demand for electricity, the infrastructure and initiatives given by the government, to spread the electricity all across the country are the factors driving this market. The increase in peak load demand, because with an increase in disposable income, the standard of living has changed, the lifestyle has changed, this has given them access to all the comfort giving consumer products, which the people are using to feel comfortable and to enjoy quality life. This factor has also driven this market.
The technological evolution across the developing region is slow. The big problems in the developing regions are they have infrastructure issues, and the pace of urbanization is increasing fast. So, the organization primarily concentrates more on setting the infrastructure and urbanization, rather than on the technological evolution. Thus, this can act as a restraint for power transmission lines & towers.
Key players operating in the global power transmission line & towers market include MasTec, Sterling & Wilson, Skipper, KEC, Prysmian, Sumitomo Electric, Southwire, Nexans, CG Power, ABB, GE, Siemens, Sterlite, Zhejiang Shengda, Arteche and Adani among others.
The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global power transmission lines and towers industry. In February 2019, Adani Transmission had acquired KEC Bikaner SikarTransmission Pvt Ltd. By this acquisition of the company, the cumulative network will reach around 13,450 ckt km.
In August 2018, Arteche introduced smartVAR IC range, combining harmonic filters and capacitor banks in ISO/DV standard, which provides harmonic filtering and reactive power compensation across renewable generation plants.
The conventional segment held the highest market value of USD 52.86 Billion in 2020. The conductor segment is divided into conventional, high temperature and others. The conventional segment held the highest market value of USD 52.86 Billion in 2020. This is because of the efficient electrical conductivity.
The PVC segment held the highest market value of USD 42.59 Billion in 2020. The insulation segment includes PVC, XLPE and Rubber. The PVC segment accounted for USD 42.59 Billion of market value in 2020. This is due to its many properties like high mechanical strength and its fire-retardant nature etc.
The 221 kV to 660 kV segment held the highest market value of USD 46.16 Billion in 2020. The voltage segment includes 132 kV to 220 kV, 221 kV to 660 kV and > 660 kV. The 221 kV to 660 kV segment accounts for the highest market value of USD 46.16 Billion in 2020. This is due to the increase in the deployment of HV electric network.
The HVDC segment held the highest market value of USD 55.12 Billion in 2020. The current segment includes HVAC and HVDC. The HVDC segment accounts for USD 55.12 Billion of market share in 2020. This is because rapid urbanization has created demand for energy which is leading to the requirement of extra and ultra-high-tension transmission infrastructure.
The Ultra High Tension segment accounts for the highest CAGR of around 15.33% in the forecasting period. The application segment includes high tension, extra-high tension and ultra-high tension. The Ultra High Tension segment accounts for the highest CAGR of around 15.33% in the forecasting period. This is due to the surging demand for energy by the industrial and commercial sector.