Power Transmission Lines and Towers Market worth $48 billion by 2028, Says Global Market Insights Inc.

Power Transmission Lines and Towers Industry is expected to record around 4% CAGR between 2021 and 2028 due to rapid urbanization along with the expansion of smart grid networks across developing regions.

Selbyville, Delaware, Oct. 25, 2021 (GLOBE NEWSWIRE) --

The power transmission lines and towers market value is projected to cross USD 48 billion by 2028, as reported in the latest study by Global Market Insights Inc. Growing infrastructural investments across commercial and industrial sectors along with rising renewable energy demand will positively influence the business landscape.

Continuous investments in R&D for the development and innovation of eco-friendly conductors with high capacity and low costs combined with the rising focus of regulators on increasing energy efficiency and overload capacity of transmission lines will drive the industry scenario.

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The ongoing urbanization across developing countries coupled with increasing investments in grid infrastructure will positively influence the business landscape. Moreover, the ability of high corrosion resistance and low sag capacity will increase the demand for > 660 kV power transmission lines. The ease of processing and recycling these cables along with negligible short circuit current & reduced energy losses across transmission lines will further stimulate the product demand.

Some of the key findings of the power transmission lines and towers market report include:

• Growing consumer inclination toward smart grid infrastructure coupled with integrated renewable technology to meet the rising energy demand will propel the industry size.

• The prominent players operating in the industry include Sumitomo Electric Industries, Nexans, Prysmian Group, Alfanar, CG Power and Industrial Solutions.

• Replacement and restructuring of conventional transmission networks and towers with advanced and effective products and designs will foster the business scenario.

• Ongoing technological advancements in the towers and lines industry along with growing concerns towards grid safety, reliability and power supply will accelerate the product demand.

Browse key industry insights spread across 600 pages with 1,159 market data tables & 60 figures & charts from the report, “Power Transmission Lines And Towers Market Forecasts By Product (Transmission Lines, Transmission Towers), Conductor (Conventional, High Temperature}, Insulation (PVC, XLPE), Voltage (132 kV to 220 kV, 221 kV to 660 kV, > 660 kV), Current (HVAC, HVDC), Application (High Tension, Extra High Tension, Ultra High Tension), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share, and Forecast, 2021 – 2028” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/power-transmission-lines-and-towers-market

Ongoing technological innovations for HVAC electricity distribution networks along with the growing adoption of renewable energy sources will accelerate the business prospects. In addition, a paradigm shift toward smart grid networks will drive the power Transmission lines and towers market size. Regulators’ inclination toward the implementation of smart grids across existing T&D infrastructure will further fuel the product adoption.

North America power transmission lines and towers market is anticipated to exceed USD 4 billion by 2028 at a CAGR of over 6%. Rapid development of high & ultra-high transmission and distribution grids to reduce electricity demand across industrial and commercial sectors will boost product implementation. Surging electricity demand in line with ongoing renovations and refurbishments of the T&D network will further augment the regional industry share.

The pandemic outbreak slightly impacted the overall industry growth in 2020. However, the majority of the global economies are focusing on over-compensating its impacts by fast tracking their operations, thereby resulting in the anticipation of a gradual market growth by the end of 2021. Most favourable conditions including ongoing upgrades and the modernization of existing transmission lines and towers along with the deployment of advanced power cables with lower transmission losses are anticipated to stimulate the transmission lines and towers industry statistics.

Browse the Toc of this report @ https://www.gminsights.com/toc/detail/power-transmission-lines-and-towers-market

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

CONTACT: Contact Us: Arun Hegde Corporate Sales, USA Global Market Insights Inc. Phone: 1-302-846-7766 Toll Free: 1-888-689-0688 Email: sales@gminsights.com