The increasingly dynamic operating environment
with the integration of renewable and distributed power resources in
conventional grid infrastructure will have a major impact on the
future development of the global power transmission towers and cables
market, states a recent report by Transparency Market Research (TMR).
The vast number of companies operating in the highly fragmented
marketplace will benefit from the rising demand for upgradation of
old or technologically outdated grid infrastructures. Asia Pacific is
home to some of the largest vendors in the power transmission towers
and cables market, including Sumitomo Electric Industries Ltd., KEC
International Ltd., ShanDong DingChang Tower Co. Ltd., Nanjing Daji
Iron Tower Manufacturing Co. Ltd., Zhejiang Shengda Steel Tower Co.
Ltd., and Kalpataru Power Transmission Ltd.
This 97 page report gives readers
a comprehensive overview of the Power Transmission Towers and
Cables market.Browse through 06
data tables and 74 figures to unlock the hidden
opportunities in this market@
Mounting Demand for Electricity to Lead to
Expansion of Grid Networks
Uninterrupted and high quality electricity supply
being central to several developments in today’s increasingly
digitized world, the vast rise in the global demand for electricity
forms the backbone of the global power transmission towers and cables
market. In addition to this factor, rapid industrialization and
urbanization will be the major factors encouraging developments in
the market in the next few years.
The need to adapt to the dynamically changing grid
infrastructures, owing to the rising integration of renewable power
sources in conventional grids, and dynamically changing load profiles
will lead to technological advancements in the sector. The market
will also witness significant development in response to the need for
upgrading grid elements to technologically advanced ones, demand for
which is driven by the increasing complexity of transmission networks
and the constant rise in power flow.
However, the market will be hampered to a certain
extent owing to the emergence of wireless power transmission
technologies such as laser beaming and solar and magnetic resonant
induction coupling in the next few years. Known to minimize
electrical energy losses and grant increased convenience of energy
transfer, these technologies will see increased adoption from
utilities looking for ways of achieving increased power efficiency.
Adoption of these technologies will, to an extent, limit the need for
overhead cables and above-ground power transmission towers.
Urgency for Grid Upgradation in Emerging
Countries to be Key Enabler of Growth
The markets for power transmission towers and
cables in developed regions will be driven majorly by the vast and
rapid changes in power flows and operating environment associated
with the rising inclusion of renewable and distributed power
resources in grid infrastructure. Additionally, the aging of grid
components in these regions will also be a major driver of the power
transmission towers and cables market.
In developing regions such as Asia Pacific and
Africa, limitations in existing grid infrastructure will lead to the
increased demand for technologically advanced power transmission
towers. Existing products in grid infrastructure in these regions,
including circuit breakers, fixed shunt reactors, and conventional
transformers, will not be able to deal with situations such as higher
power and quality demands of modern digital devices, load
variability, and increasingly complex and long interconnections.
Thus, power transmission towers will be subjected to numerous changes
in regards with design, control mechanism, and safety and security
features in the near future, driving increased demand for tower
maintenance and upgradation services.
Asia Pacific will account for the largest share in
the global market for power transmission towers and cables in terms
of both volume and revenue generation, with nearly 44% and 49%,
respectively, in the global market by 2023.
Get accurate market forecast and analysis on
the Power Transmission Towers and Cables market. Request a sample to
stay abreast on the key trends impacting this market@
Transparency Market Research projects that the
global market for power transmission towers and cables will tread
along a healthy growth path over the next few years. Expected to
exhibit a CAGR of 7.15% over the period between 2015 and 2023, the
market will rise from a valuation of US$7.62 bn in 2014 to US$13.90
bn by 2023.
This review of the market is based on a recent
market research report published by Transparency Market Research,
titled “Power Transmission Towers and Cables Market - Global
Industry Analysis, Size, Share, Growth Trends and Forecast 2015 -
2023.”
For the study, the market is 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
North America
- The U.S.
- Canada
- Mexico
Europe
- CIS countries
- Germany
- The U.K
- Rest of Europe
Asia Pacific
- China
- India
- Rest of Asia Pacific
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Latin and Central Americas
- Brazil
- Argentina
- Rest of Latin and Central Americas
About
Us
Transparency Market Research (TMR) is a global market intelligence
company providing business information reports and services. The
company’s exclusive blend of quantitative forecasting and trend
analysis provides forward-looking insight for thousands of decision
makers. TMR’s experienced team of analysts, researchers, and
consultants use proprietary data sources and various tools and
techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team
of research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
Contact
Us
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
No comments:
Post a Comment