Transmission Towers
Market Size, 2028 Report

Transmission
Towers Market size exceeded USD 17 billion in 2021 and
is anticipated to grow at over 4% CAGR from 2022 to 2028. The shifting
inclination toward secure & sustainable power networks in line with the
ongoing modernization of conventional T&D structures will stimulate the
industry outlook.

Rising construction
activities across the commercial sector have influenced state utilities in
terms of the installation of low & medium-voltage lines and other
electrical structures. In addition, the development of smart grid networks
combined with the growing requirement for a secure & reliable power supply
will foster the market growth.

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Growing demand for the
revamping & replacement of traditional aging infrastructures along with
government policies & regulations for reduced emissions will sway the
transmission towers market landscape. Rising construction activities across the
commercial sector, followed by the continuous installation of low & medium
voltage lines and other electrical equipment have instituted a favorable
business scenario. For instance, as per the U.S. Central Bureau, the spending
on commercial construction activities in the first 11 months of 2021 was USD
1,463 billion with an increase of around 7% compared to 2020.

The 132 kV to 220 kV
transmission towers market is poised to reach about USD 2 billion by 2028.
Moreover, the replacement and upgrade of aging grid networks coupled with the
ongoing microgrid integration
will bolster market share. The ongoing expansion of cross-border
interconnection networks and the large-scale deployment of smart
grid infrastructures will accelerate the product demand.
Furthermore, the growing need for an uninterrupted power supply, followed by
favorable government standards for intelligent grid characteristics will propel
transmission towers installations.

An increasing number of
renewable projects including solar & wind power, followed by high
investments for the replacement of existing lattice towers will boost the
demand for 221 kV to 660 kV transmission towers. Additionally, ongoing pipeline
projects for the connection of interstate electric grid networks with advanced
& efficient transmission overhead lines will fuel the business landscape.
Growing installations of long-distance high voltage overhead cables to reduce
line losses across the interstate electrical transmission network will broaden
the industry spectrum.

The increasing electricity
demand and favorable regulatory reforms on the expansion of existing grid
infrastructures will positively impact the double circuit transmission towers
market revenue. Shifting utility focus on safe & reliable electric grid
networks along with rapid technological enhancements for the refurbishment of
distribution networks will spur the industry outlook. Furthermore, a paradigm
shift toward advanced material composite adoption combined with the integration
& deployment of renewable power resources in distributed energy networks
will drive the market demand.

The waist-type tower
industry is estimated to witness an annual deployment of more than 950 ‘000 MT
by 2028. The development of government standards for the designing &
construction of transmission structures has complemented the business scenario.

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The North America
transmission towers market size will observe a growth rate of nearly 6% through
2028.  The rapid development of new interstate transmission line networks
along with the ongoing refurbishment & reconstruction of T&D infrastructure
will enhance the business spectrum. Promising government initiatives for the
adoption of efficient & advanced technologies across existing
establishments combined with robust renewable integration will propel market
growth across the commercial sector. However, the expansion of T&D
flexibility & capacity, traditional grid network upgrades, and built-in
advanced IoT-enabled units is set to spur market statistics. Stringent
government policies for the adoption of energy-efficient systems will
complement the industry outlook.

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