The Brainy Insights launched a study titled “Power Transmission Lines & Towers Market Size by Conductor (Conventional, High Temperature), Insulation (PVC, XLPE, Rubber), Voltage, Current, Application, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2028”
Global Power Transmission Lines & Towers market is expected to reach USD 210.25 billion by 2028, at a CAGR of 10.43% from 2021 to 2028.Increasing electricity demand and integration of a sustainable electrical networkare the factors affecting the demand of the market.
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The conventional segment held the highest market share of 58.69% in 2020
The conductor segment is divided into conventional, high temperature and others. The conventional segment held the highest market share of around 58.69% in 2020. This is due to its lower tensile strength and efficient electrical conductivity.
The PVCsegment 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 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 share of 51.25% 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 51.25% of market share in 2020. This is due to the fast urbanization happening in developing countries and an 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 rising demand for energy by the industrial and commercial sector and also fast urbanization happening in developing countries.
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Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. Asia Pacific region is accounted for the highest market share of around 44.35% in 2020. The Asia-Pacific region emerged as the largest market share for the power transmission lines & towers market in 2020. This is due to the rising demand for energy in this region because of rapid urbanization and industrialization, especially in the 2 fastest economies in the world China and India.Middle East and Africa region is predicted to witness strong growth over the forecast period. This is due to the increasing need for electricity and setting up of many industries.
Competitive Analysis:
The major players ofmarketincludeAlstom, ABB Ltd, Schneider Electric, Siemens, ESRI, Emerson, Trimble Navigation Limited, Rockwell Automation, FMC Technologies and Alcatel-Lucent, among others.
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