Power Transmission Tower Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.00 % |
| Fastest Growing Market | Middle East and Africa |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Power Transmission Tower Market Analysis
The Power Transmission Tower market is expected to grow with a CAGR of more than 6% during the forecast period. The COVID-19 pandemic has drastically affected the power transmission and distribution sector, with the crashed power demand and DISCOMs facing huge revenue losses in FY2020. But the post-COVID-19 era saw a rebound again with increased power demand and new power transmission projects.
- Over the long term, the power transmission tower market is expected to have an elevation in the near future due to the aging power infrastructure in many countries and less access to electricity in several regions like Western and Central Africa and some South American countries.
- On the other hand, smart technologies for grid transmission management create less need for infrastructure renovation for a long time, which makes a once-in-industry situation for transmission towers for a long time.
- Nevertheless, the growing trend of renewable power integration at the global level places a tremendous opportunity for the power transmission tower market due to the increased demand for new power infrastructure when renewable power integration happens at a large scale. For example, India's recent global power grid project, OSOWOG (One Sun, One World, One Grid), which aims to build an interconnected global solar power grid in cooperation with Britain, places an opportunity for the demand for transmission towers.
- Middle-East and African regions are expected to have a significant market share due to the need for high power transmission capacity, which is far less than the demand.
Power Transmission Tower Market Trends
This section covers the major market trends shaping the Power Transmission Tower Market according to our research experts:
Double-Circuit Expected to Witness Significant Growth
- Double-circuit towers are used for double-circuit transmission line networks, which are strongly preferred in the power industry due to their various technical advantages. A double circuit transfers twice the power and is far less expensive to establish. The biggest advantage of the transmission line is that if one circuit goes out of service at a high load, one can load the other up to an emergency rating, and the customers would not know the difference.
- In developing countries, there has been continuous growth in the power transmission network due to increasing power demand for economic growth and the growing population. For example, in India, the transmission network growth was envisaged in every five-year term, with the 2016-2021 figure as 4,56,716 Circuit Kilo Meters (CKM). The country has even more transmission line projects in the queue to go parallel with the enhancing power demand for various applications.
- For example, in May 2022, the Rural Electrification Corporation Transmission Projects Company Limited (RECTPCL) invited applications to establish the 765kV Banaskantha-Ahmedabad double-circuit line in India with 330MVAr, 765kV switchable line reactors on every circuit at the end of the Ahmedabad substation.
- In other countries, too, many double-circuit transmission line projects have been tabled in the recent picture. For instance, in February 2022, 1175km and 600kV HVDC (High Voltage Direct Current) overhead double-circuit transmission line project was planned in the United States to deliver renewable power from a wind power plant in Wyoming to Colorado, Utah, and Nevada.
- Such large-scale power transmission projects will likely positively impact the double-circuit tower market in the coming years.
Middle-East and Africa Expected to Dominate the Market
- The Middle East and African region have a number of under-developed countries where there is still a need for access to electricity. Thus, the respective governments and private players have planned many power generation and distribution projects with both conventional as well as renewable power plants.
- In Ghana, the rural areas where a huge population is still struggling with unreliable and intermittent power supply, frequent power outages have been the focus of the government for the power generation and distribution projects planned recently.
- For example, in February 2022, the VRA Wind Energy Project-II was planned in Greater Accra, Ghana. It involves the construction of a 76MW wind power plant and power transmission infrastructure by the developer Volta River Authority, the state-owned power distribution company of the country. The project will include around 80 meters high towers in the transmission infrastructure. The project is expected to get completed in the year 2023.
- Furthermore, in the Gulf region, Saudi Arabia and Oman have contemplated building a cross-border electricity grid interconnection in the near future. Such large-scale power trading projects will lead to huge power infrastructure expansion in the region.
- Owing to such developments, the power transmission tower market is likely to have a boost in the region.
Power Transmission Tower Industry Overview
The power transmission tower market is fragmented. Some of the key players (in no particular order) include Skipper Limited, Ramboll Group A/S, Nanjing Daji Iron Tower Manufacturing Co. Ltd, KEC International Ltd., and Tata Power Company Limited.
Power Transmission Tower Market Leaders
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Skipper Limited
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Ramboll Group A/S
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Nanjing Daji Iron Tower Manufacturing Co. Ltd
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KEC International Ltd.
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Tata Power Company Limited
*Disclaimer: Major Players sorted in no particular order
Power Transmission Tower Market News
- In September 2022, UGL Limited completed the construction of three transmission towers which were a part of the project to connect Neoen's Kaban Green Power Hub to the main electricity grid in Queensland, Australia. The company had been working to construct a 257kV switching station that connects the Hub to Powerlink Queensland's network.
- In November 2021, the United States House of Representatives passed the USD 1.2 trillion Investment Infrastructure and Jobs Act, which also includes plans to build new power infrastructure by establishing new, resilient power transmission lines to support the expansion of renewables and clean energy.
Power Transmission Tower Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD billion, till 2027
- 4.3 Recent Trends and Developments
- 4.4 Government Policies and Regulations
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4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.2 Restraints
- 4.6 Supply Chain Analysis
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4.7 Porter's Five Forces Analysis
- 4.7.1 Bargaining Power of Suppliers
- 4.7.2 Bargaining Power of Consumers
- 4.7.3 Threat of New Entrants
- 4.7.4 Threat of Substitutes Products and Services
- 4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Structure Type
- 5.1.1 Waist Type Tower
- 5.1.2 Guyed-V-Tower
- 5.1.3 Tubular Steel Pole
- 5.1.4 Guyed Cross-Rope Suspension Tower
- 5.1.5 Crossings
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5.2 Number of Circuits
- 5.2.1 Double-Circuit
- 5.2.2 3-Circuit
- 5.2.3 4-Circuit
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5.3 Angle of Deviation
- 5.3.1 A-Type
- 5.3.2 B-Type
- 5.3.3 C-Type
- 5.3.4 D-Type
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Rest of North America
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 Italy
- 5.4.2.3 France
- 5.4.2.4 United Kingdom
- 5.4.2.5 Russian Federation
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 India
- 5.4.3.3 Japan
- 5.4.3.4 South Korea
- 5.4.3.5 Rest of Asia-Pacific
- 5.4.4 South America
- 5.4.4.1 Brazil
- 5.4.4.2 Argentina
- 5.4.4.3 Rest of South America
- 5.4.5 Middle-East and Africa
- 5.4.5.1 Saudi Arabia
- 5.4.5.2 United Arab Emirates
- 5.4.5.3 South Africa
- 5.4.5.4 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
- 6.3.1 Skipper Limited
- 6.3.2 Ramboll Group A/S
- 6.3.3 Nanjing Daji Iron Tower Manufacturing Co. Ltd
- 6.3.4 KEC International Ltd.
- 6.3.5 Tata Power Company Limited
- 6.3.6 AG & SCIMT Co. Ltd.
- 6.3.7 Kalpatru Power Transmission Ltd.
- 6.3.8 SAE Tower Holdings LLC
- 6.3.9 Shah Infra Towers Ltd.
- 6.3.10 Evergreen Metals Enterprise Ltd.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityPower Transmission Tower Industry Segmentation
Power transmission towers are tall steel lattice structures that are erected to support the high-voltage conductors of overhead power lines from the generating station to the source substations and satellite substations. The power transmission tower market is segmented by structure type, number of circuits, and angle of deviation. The structure type is segmented into Waist Type Tower, Guyed-V-Tower, Tubular Steel Pole, Guyed Cross-Rope Suspension Tower, and Crossings. The number of circuits is segmented into Double Circuit, 3-Circuit, and 4-Circuit, and the angle of deviation is segmented into A-type, B-type, C-type, and D-type. The report also covers the market size and forecasts for the Power Transmission Tower market across major countries. For each segment, the market size and forecasts have been done based on revenue (in USD billion).
| Structure Type | Waist Type Tower | |
| Guyed-V-Tower | ||
| Tubular Steel Pole | ||
| Guyed Cross-Rope Suspension Tower | ||
| Crossings | ||
| Number of Circuits | Double-Circuit | |
| 3-Circuit | ||
| 4-Circuit | ||
| Angle of Deviation | A-Type | |
| B-Type | ||
| C-Type | ||
| D-Type | ||
| Geography | North America | United States |
| Canada | ||
| Rest of North America | ||
| Geography | Europe | Germany |
| Italy | ||
| France | ||
| United Kingdom | ||
| Russian Federation | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| United Arab Emirates | ||
| South Africa | ||
| Rest of Middle East and Africa |
Power Transmission Tower Market Research FAQs
What is the current Power Transmission Tower Market size?
The Power Transmission Tower Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Power Transmission Tower Market?
Skipper Limited , Ramboll Group A/S, Nanjing Daji Iron Tower Manufacturing Co. Ltd, KEC International Ltd. and Tata Power Company Limited are the major companies operating in the Power Transmission Tower Market.
Which is the fastest growing region in Power Transmission Tower Market?
Middle East and Africa is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Power Transmission Tower Market?
In 2024, the Asia-Pacific accounts for the largest market share in Power Transmission Tower Market.
What years does this Power Transmission Tower Market cover?
The report covers the Power Transmission Tower Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Power Transmission Tower Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Power Transmission Tower Industry Report
Statistics for the 2024 Power Transmission Tower market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Power Transmission Tower analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
