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According to a new report from Global Marketing Insights, the global transmission line and tower industry is expected to grow steadily over the next six years, with a market size of more than $48 billion
by 2028.
The study said that the market share of transmission lines and towers is expected to grow by more than
4% by 2028.
While the Covid-19 pandemic has impacted the industry as a whole since 2020, some global economies are responding to these impacts
by fast-tracking their operations.
Overall, the use of advanced power cables to reduce transmission losses and modernization of existing transmission towers and lines will drive steady market growth
.
During the forecast period, the industry is witnessing increasing investments in R&D activities to innovate and develop eco-friendly conductors
with low cost and high capacity.
In addition, regulators are also focusing on improving the overload capacity and energy efficiency of transmission lines, which is conducive to the expansion
of the market.
The transmission lines and tower market will continue to grow due to
the growing popularity of renewable energy and continuous technological innovation in HVAC distribution networks.
While the industry will record the transition to smart grid networks, regulators are increasingly inclined to implement smart grids in existing transmission and distribution infrastructure, driving product demand
.
The surge in investment in grid infrastructure, coupled with the ongoing urbanization process in developing countries, will positively drive the demand
for transmission lines above 660 kV.
The low sagging capacity and high corrosion resistance of these power cables drive the market growth
.
In addition, the ease of recycling and processing of these cables, along with reduced energy loss and negligible short-circuit current, may stimulate product penetration
during the forecast period.
North America is witnessing the rapid development of high- and ultra-high-voltage transmission and distribution grids to reduce losses
in the commercial and industrial sectors.
The area is further characterized by the continuous renovation of the transmission and distribution network and the increasing
demand for electricity.
As a result of these factors, the North American transmission line and tower market demand is expected to exceed $4 billion by 2028, with a growth rate of more than 6 percent
, the report said.
In short, the growing demand for renewable energy and increasing infrastructure investments in the commercial and industrial sectors will positively drive transmission tower adoption
during the expected period.
According to a new report from Global Marketing Insights, the global transmission line and tower industry is expected to grow steadily over the next six years, with a market size of more than $48 billion
by 2028.
The study said that the market share of transmission lines and towers is expected to grow by more than
4% by 2028.
While the Covid-19 pandemic has impacted the industry as a whole since 2020, some global economies are responding to these impacts
by fast-tracking their operations.
Overall, the use of advanced power cables to reduce transmission losses and modernization of existing transmission towers and lines will drive steady market growth
.
During the forecast period, the industry is witnessing increasing investments in R&D activities to innovate and develop eco-friendly conductors
with low cost and high capacity.
In addition, regulators are also focusing on improving the overload capacity and energy efficiency of transmission lines, which is conducive to the expansion
of the market.
The transmission lines and tower market will continue to grow due to
the growing popularity of renewable energy and continuous technological innovation in HVAC distribution networks.
While the industry will record the transition to smart grid networks, regulators are increasingly inclined to implement smart grids in existing transmission and distribution infrastructure, driving product demand
.
The surge in investment in grid infrastructure, coupled with the ongoing urbanization process in developing countries, will positively drive the demand
for transmission lines above 660 kV.
The low sagging capacity and high corrosion resistance of these power cables drive the market growth
.
In addition, the ease of recycling and processing of these cables, along with reduced energy loss and negligible short-circuit current, may stimulate product penetration
during the forecast period.
North America is witnessing the rapid development of high- and ultra-high-voltage transmission and distribution grids to reduce losses
in the commercial and industrial sectors.
The area is further characterized by the continuous renovation of the transmission and distribution network and the increasing
demand for electricity.
As a result of these factors, the North American transmission line and tower market demand is expected to exceed $4 billion by 2028, with a growth rate of more than 6 percent
, the report said.
In short, the growing demand for renewable energy and increasing infrastructure investments in the commercial and industrial sectors will positively drive transmission tower adoption
during the expected period.
