Knowledge Sourcing Intelligence announces the publication of a new analysis report on the market of “Electricity Transmission Poles Market - which is forecasted from 2020 to 2027”.
The key factors for the growth of the Global Electricity Transmission Poles Market are the high energy consumption, rising electricity demand from a variety of industries, and developments in the global energy sector.
According to the report, the market for Global Electricity Transmission Poles is expected to grow at a moderate pace.
The basic function of an Electricity transmission pole is to support the wires and electric cables that carry electricity from the source provider which is a power company to the end-users. These electricity transmission poles are equipped with different hardware like a transformer, lightning arrestors, insulators, primary wires, pole ground wire, transformer fuse, etc. The inclusion of equipment depends on what service they provide and where they are located. Moreover, these electricity transmission poles are made of materials such as wood, steel, and composites. Different type of material serves a different purpose and has a distinct life span as per their use.
The global energy demand is rising which is a key factor in the growth of the electricity transmission pole market worldwide. For instance, as per the IEA Energy statistics updated in August 2022, in 2019 the global electricity consumption was 25,027.3 TWh. Furthermore, the electricity market report of January 2022 by IEA states that the global electricity demand grew by 6% in 2021 after a slight decline in 2020. This rising electricity demand is expected to boost the global electricity transmission poles market.
Additionally, the growing industries are creating a huge demand for electricity. In 2019, the total electricity consumption by the industry sector stood at 34,438,971.0 TJ, reported IEA. Following the industry sector, residential electricity consumption also represented a growing trend over the years. Moreover, the recent developments in the global energy sector to aid the growing demand from the rising industry sector is expected to propel the global electricity transmission poles market during the forecast period.
On the basis of materials used, the global Electricity Transmission poles market is divided into wood, Cement, and steel. The analyst anticipates that the cement electricity transmission poles market is expected to witness extensive growth owing to its properties like higher strength, and longer life coupled with its potential to span over long distances as compared to the steel poles.
Based on area, the global electricity transmission pole market is segmented into rural and urban areas. The rural areas are expected to grow during the forecast period due to various government initiatives to develop the rural area.
Based on geography, the North American region holds a considerable share in the electricity transmission pole market. Owing to the high consumption of electricity from countries in this region further boosts the growth of the electricity transmission poles market. The analyst anticipated that the APAC region will witness substantial growth during to forecast period due to high electricity infrastructure investments by the economies in this region.
As a part of the report, the major players operating in the Global Electricity Transmission Poles Market, that have been covered are Koppers Inc., KEC International Ltd., Skipper Limited, Europoles GmbH & Co. KG, Nippon Concrete Industries Co., Ltd., Weatherspoon & Williams LLC, Valmont Industries, Inc., Nello Corporation, Nova Pole International Inc., Finntrepo Ltd, PPL Corporation, OTDS UK Ltd., Eiforsa.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-electricity-transmission-poles-market
This analytics report segments the Global Electricity Transmission poles market on the following basis