Power Transmission Towers and Cables Market Growth 2015 – 2023
According to the report, the global power transmission towers and cables market stood at US$7.62 bn in 2014 and is likely to reach US$13.90 bn by 2023, expanding at a CAGR of 7.15% between 2015 and 2023.
The global power transmission towers and cables market was dominated by Asia Pacific in 2014. Demand for power transmission towers and cables is anticipated to be high in the region due to expansion and construction of power transmission infrastructure. Power transmission towers and cables are vital components of power transmission infrastructure. Countries such as China and India are expanding their power transmission infrastructure to provide electricity throughout the residential, commercial, and industrial sectors.
Factors such increasing demand for electricity and increasing share of renewable energy sources in total power generation mix are anticipated to boost the power transmission towers and cables market in Asia Pacific in the near future. However, higher capital costs and installation costs have hampered the growth of the power transmission towers and cables market in the region.
North America was the second-largest market globally in terms of sales revenue of power transmission towers and cables in 2014. Power transmission cables segment accounted for the major share of the market in North America in 2014. The U.S. was the leading player in terms of sales revenue of power transmission towers and cables in North America. Growing need for replacement of ageing power transmission infrastructure and increasing share of renewable energy sources in total power generation mix have boosted the demand for power transmission towers and cables in North America.
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Middle East and Africa power transmission towers and cables market is one of the fastest growing market due to increasing activities in power transmission infrastructure. Saudi Arabia is expected to be the leading player in the power transmission towers and cables market in Middle East and Africa in the near future. Europe accounted for more than 12% of the global power transmission towers and cables market in 2014. Europe power transmission towers and cables market is expected to grow during the forecast period due to increasing number of expansion and refurbishment activities in existing power transmission infrastructure. Latin and Central Americas accounted for the least share of the global power transmission towers and cables market in 2014.
Key participants in the global power transmission towers and cables market include Kalpataru Power Transmission Ltd., Zhejiang Shengda Steel Tower Co. Ltd., Nanjing Daji Iron Tower Manufacturing Co. Ltd., ShanDong DingChang Tower Co. Ltd., KEC International Ltd., Prysmian S.p.A., Nexans S.A., General Cable Technologies Corporation, Sumitomo Electric Industries Ltd., and Southwire Company LLC. The report provides an overview, financial revenues (on availability), business strategies, and recent developments of these companies. The global power transmission towers and cables market has been segmented as follows:
Global Power Transmission Towers and Cables Market: By Type
- Power Transmission Towers
- Power Transmission Cables
Global Power Transmission Towers and Cables Market: By Region
- The U.S.
- CIS countries
- The U.K
- Rest of Europe
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Latin and Central Americas
- Rest of Latin and Central Americas
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