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Growth of Global Power Transmission Towers and Cables Market Driven by Increasing Demand for Electricity

Article Description

Power transmission towers and cables are an integral part of the power transmission infrastructure. Various power transmission towers and cables are used for the distribution and transmission of electricity from numerous power generation facilities to end users. Power transmission cables are primarily used as underground or submarine and overhead cables for taking care of offshore and onshore operations. They are submerged in water or are placed underground to provide smooth electricity transmission networks. Depending on the voltage, power transmission cables are available in three types, medium, high, and extra-high voltage cables. Otherwise, they are also classified as DC cables and AC cables, according to the type of electricity they are carrying. 

Power transmission towers are used for the purpose of carrying and supporting electricity transmission lines. They carry hefty transmission conductors at a sufficient height from the ground. Power transmission towers are made of various materials such as lattice, wood, concrete, and tubular steel. The global power transmission towers and cables market is segmented on the basis of geography and type. Based on type, the global power transmission towers and cables market is classified into power transmission cables and power transmission towers. In 2014, the power transmission cables segment accounted for a massive share of 70% in the global power transmission towers and cables market.

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North America to Dominate Global Power Transmission Towers and Cables Market

By geography, the global power transmission towers and cables market is divided into  Latin and Central Americas, the Middle East and Africa, North America, Asia Pacific, and Europe. In 2014, Asia Pacific held a share of more than 35% in the global power transmission towers and cables market. Going forward, the Asia Pacific power transmission towers and cables market is expected to maintain its dominance due to the increasing application of power cables and towers in the construction, manufacturing, and landscape building industries. The Middle East and Africa is expected to be the second fastest growing market in the years to come.

Some of the prominent players operating in the global power transmission towers and cables market are Kalpataru Power Transmission Ltd., Nanjing Daji Iron Tower Manufacturing Co. Ltd., KEC International Ltd., Nexans S.A., Sumitomo Electric Industries Ltd., Zhejiang Shengda Steel Tower Co. Ltd., ShanDong DingChang Tower Co. Ltd., Prysmian S.p.A., General Cable Technologies Corporation, and Southwire Company LLC.

Increasing Demand for Electricity to Drive Global Power Transmission Towers and Cables Market

Some of the major factors expected to propel the global power transmission towers and cables market are the rising demand for electricity, the increasing government funding, the increasing need to replace aging power transmission towers and cables, and the rising share of renewable energy sources in the overall energy scenario. However, high installation costs and high initial capital requirement are two of the major factors expected to hamper the growth of the global power transmission towers and cables market in the years to come. Going forward, the introduction of innovative and enhanced cables and towers is predicted to benefit the global market for power transmission towers and cables.