Market Size of Power Transmission Tower Industry
| 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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
