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According to a report released by Technavio, an international market research institute, the global transmission line and tower market size is expected to grow by $8.
88 billion from 2020 to 2024, with a compound annual growth rate of more than 5%
during the period.
The increasing penetration of data centers and large communication base stations has led to an increase in the demand for electricity, which has led to a surge
in demand for high-voltage transmission lines.
Electricity is considered one of the most important components of infrastructure and is essential
for the growth and development of any economy.
Factors such as low labor costs and the availability of cheap raw materials have attracted major foreign companies to set up production bases
in developing countries such as India and China.
This leads to an increase in the demand for electricity, which in turn increases the demand
for high-voltage transmission lines.
At the same time, the demand for flexible power systems and the changing energy landscape will also influence the growth of the market
.
Worldwide, the demand for electricity is growing
exponentially.
In addition, population growth and global economic growth are also expected to drive this trend
in the future.
At present, energy security is one of the important agendas of
all countries.
From a power generation perspective, the International Energy Agency (IEA) estimates that fossil fuels are expected to account for 61% of global electricity generation by 2020, but this depends on action and implementation
of the Paris Agreement.
Asia Pacific was the largest transmission line and tower market in 2019, with 49% of the global market growth coming from Asia Pacific
during the forecast period.
China and India are the main markets
for transmission lines and towers in the Asia-Pacific region.
The market growth in this region will be faster than the growth of the European and North American markets
.
High-voltage alternating current is one of
the most demanded transmission technologies worldwide.
The main advantages of high-voltage AC transmission systems are reduced conductor costs and increased efficiency
.
Moreover, they are designed to use steel lattices or trusses to transmit, mainly in countries such as Canada, Germany, and Scandinavia
.
However, considering the loss rate and capacity, the application of HVDC technology will grow faster than HVDC transmission technology
during the forecast period.
According to a report released by Technavio, an international market research institute, the global transmission line and tower market size is expected to grow by $8.
88 billion from 2020 to 2024, with a compound annual growth rate of more than 5%
during the period.
The increasing penetration of data centers and large communication base stations has led to an increase in the demand for electricity, which has led to a surge
in demand for high-voltage transmission lines.
Electricity is considered one of the most important components of infrastructure and is essential
for the growth and development of any economy.
Factors such as low labor costs and the availability of cheap raw materials have attracted major foreign companies to set up production bases
in developing countries such as India and China.
This leads to an increase in the demand for electricity, which in turn increases the demand
for high-voltage transmission lines.
At the same time, the demand for flexible power systems and the changing energy landscape will also influence the growth of the market
.
Worldwide, the demand for electricity is growing
exponentially.
In addition, population growth and global economic growth are also expected to drive this trend
in the future.
At present, energy security is one of the important agendas of
all countries.
From a power generation perspective, the International Energy Agency (IEA) estimates that fossil fuels are expected to account for 61% of global electricity generation by 2020, but this depends on action and implementation
of the Paris Agreement.
Asia Pacific was the largest transmission line and tower market in 2019, with 49% of the global market growth coming from Asia Pacific
during the forecast period.
China and India are the main markets
for transmission lines and towers in the Asia-Pacific region.
The market growth in this region will be faster than the growth of the European and North American markets
.
High-voltage alternating current is one of
the most demanded transmission technologies worldwide.
The main advantages of high-voltage AC transmission systems are reduced conductor costs and increased efficiency
.
Moreover, they are designed to use steel lattices or trusses to transmit, mainly in countries such as Canada, Germany, and Scandinavia
.
However, considering the loss rate and capacity, the application of HVDC technology will grow faster than HVDC transmission technology
during the forecast period.
