PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1461205
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1461205
Global Utility Poles Market is valued at approximately USD 32.90 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.2% during the forecast period 2023-2030. Utility poles, also commonly known as power poles or telecommunication poles, are tall vertical structures that support overhead power lines, communication cables, and various other public utility equipment. They provide a framework for suspending electrical wires and communication cables above ground, helping to create a reliable and accessible network for the transmission of power and information. The Utility Poles Market is expanding because of factors such as the rapidly rising telecommunication industry, rising energy demand worldwide and rising rural electrification across the globe.
The growth of the Utility Poles Market is significantly influenced by the rising telecommunication industry, which continues to expand to meet the increasing demand for connectivity and communication services. As the telecommunication sector undergoes rapid advancements and upgrades to accommodate technologies such as 5G, the demand for robust and extensive infrastructure is surging. Utility poles play a pivotal role in this expansion, providing essential support for the deployment of fiber optic cables and other critical telecommunication equipment. The proliferation of mobile devices, coupled with the growing need for high-speed internet connectivity, has led telecommunication companies to invest heavily in network expansion. As per Ericsson's projections, the global total mobile data traffic is anticipated to persist in its upward trajectory, potentially reaching 131 exabytes per month by the conclusion of 2024. This signifies a substantial 30% compound annual growth rate spanning from 2018 to 2024. Moreover, Ericsson foresees that by 2024, 5G networks would bear the load of approximately 35% of the overall mobile data traffic. In addition, government initiatives focused on improving energy infrastructure and increasing the development of composite materials in the poles are creating new opportunities for market growth. However, the growing inclination toward underground connection stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Utility Poles Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022. The deployment of these poles is increasing in both urban and rural regions of the area, driven by a growing demand for electricity. Governments in numerous developing nations, including India, Vietnam, China, Indonesia, and Malaysia, among others, are actively engaged in initiatives to ensure a consistent supply of electricity, particularly in rural and disaster-prone areas. Consequently, there is a rising trend in the installation of these poles to support the expansion of electrical infrastructure and meet the escalating need for power in these regions. Europe is expected to grow at the fastest rate over the forecast period. The increasing need for a reliable and continuous supply of electricity in the region drives a heightened demand for efficient distribution transmission. This necessitates the establishment of appropriate infrastructure, with utility poles playing a crucial role. Additionally, the growing shift from conventional to renewable energy sources amplifies the demand for such infrastructure as the region focuses on the installation of renewable energy systems, resulting in market growth.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Pole Size offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable