PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1627729
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1627729
Electricity poles, also called power poles, support wires and electric cables that carry electricity from power companies to end-users. Materials that are used in the production of electricity transmission poles include wood, steel, and composites. The choice of material depends on its use, which determines the life span of the electricity transmission pole. Electricity transmission poles are used to support and carry electrical lines, including distribution lines and sub-transmission lines.
The rising number of factories across various industries is also a factor contributing to the global electricity transmission pole market growth. Growing urban infrastructural development in developing economies has boosted the construction of residential and commercial buildings, driving the demand for electricity transmission poles, thus positively impacting its market.
The growing demand for reliable and efficient electricity transmission infrastructure is driving the global electricity transmission poles market as increasing energy needs are being met. Rapid urbanization and industrialization, mainly in emerging economies, have rapidly increased electricity consumption, hence the need to expand and upgrade the networks. A shift towards renewable energy sources such as wind and solar has created a demand for high-end transmission poles capable of carrying high voltage over long distances, thus boosting market expansion.
Technological advancement and government investments in grid modernization drive the market further. The smart grid initiatives, which help increase energy efficiency and reduce transmission losses, are raising the demand for durable and lightweight transmission poles made from composite materials. In addition, the replacement of aging infrastructure in developed countries and the extension of rural electrification projects in underdeveloped regions are further contributing to the electricity transmission poles market growth.
Advancements in the global energy sector are also contributing to this global market's expansion. The growing demand for energy-efficient and resilient power grids is another factor bolstering the market. Rapidly growing demand for unhindered electricity supply across various sectors has also fuelled the revenues of market players in the global electricity transmission market. Increasing public and private investments in smart grids in both developed and developing economies will continue to pave the way for new distribution lines and poles as replacements for older infrastructure, thereby driving the overall market growth of electricity transmission poles.
By geography, the global electricity transmission pole market has been segmented into five major regional markets- North America, South America, Europe, the Middle East and Africa (MEA), and Asia Pacific (APAC).
The North American electricity transmission poles market will account for a significant share in 2030. High electricity consumption in countries like the United States and Canada is driving this market's expansion. The electricity sector in these countries is witnessing major investments in new electricity distribution and transmission infrastructure as the existing infrastructure is aging and needs to be refurbished. Electric power transmission and distribution in the United States need expansion and upgrading since increasing loads and aging equipment and infrastructure are putting pressure on more investments.
The growing focus on green energy solutions in both North America and the European regions will continue to augment the demand for new electricity transmission poles during the next five years, thus fuelling regional market growth. Government policies and regulations that promote greener technologies and new energy sources are increasing the demand for advanced distribution and transmission infrastructure. This trend is expected to positively influence the overall growth of the global electricity transmission poles market during the forecast period.
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