The global power transmission line and tower market is expected to exceed $48 billion in 2022-2028

According to a new report from Global Marketing Insights, the Global power line and pylon industry is expected to see solid growth over the next six years, reaching a market size of more than $48 billion by 2028.  

The market share of transmission lines and towers is expected to grow by more than 4 percent by 2028, the study said. While the COVID-19 pandemic has impacted entire industries since 2020, some global economies are responding to these impacts by rapidly tracking their operations.  

Overall, the use of advanced power cables to reduce transmission losses and the modernization and upgrading of existing transmission towers and lines will drive steady market growth.  

During the forecast period, the industry is witnessing increasing investment in R&D activities to innovate and develop environmentally friendly conductors with low cost and high volume. In addition, regulators are also focusing on improving the overload capacity and energy efficiency of transmission lines, which is conducive to market expansion.  

The market for transmission lines and pylons will continue to grow due to the increasing availability of renewable energy and continued technological innovation in HVAC distribution networks. While the industry will document the transition to smart grid networks, regulators are increasingly inclined to implement smart grids in existing TD infrastructure, driving product demand.  

Surging investment in grid infrastructure, coupled with ongoing urbanisation in developing countries, will positively drive demand for transmission lines above 660 kV. The low droop capacity and high corrosion resistance of these power cables are driving market growth.  

In addition, the ease of recovery and processing of these cables, as well as the reduced energy loss and negligible short-circuit current, may stimulate product penetration during the forecast period.  

North America is witnessing rapid development of high - and ultrahigh - voltage transmission and distribution networks to reduce losses in the commercial and industrial sectors. The region is further characterized by continuous renovation of the transmission and distribution network and increasing demand for electricity.  

Due to these factors, demand for north American transmission lines and pylons 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 investment by the commercial and industrial sectors will positively drive transmission tower adoption during the projected period.