Analysis on Impact of COVID-19- Power Transmission Lines and Towers Market 2020-2024 | Evolving Opportunities with ABB Ltd. and AECOM | Technavio
LONDON–(BUSINESS WIRE)–#GlobalPowerTransmissionLinesandTowersMarket–The global power transmission lines and towers market is expected to grow by USD 8.88 billion as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 5%.
Request challenges and opportunities that influence COVID-19 pandemic – Request Free Sample Report on COVID-19 Impacts
Read the 120-page report with TOC on "Power Transmission Lines and Towers Market Analysis Report by Type (HVAC and HVDC), Geography (APAC, Europe, North America, MEA, and South America), and the Segment Forecasts, 2020-2024".
The market is driven by the rapid growth in demand for high-voltage transmission lines in the utility sector. In addition, the need for flexible power systems and changing energy landscape are anticipated to boost the growth of the power transmission lines and towers market.
Factors such as low-cost labor and the availability of cheap raw materials are encouraging major global companies to establish their production base in developing countries such as China and India. Also, the growth in the construction of manufacturing units, retail brands, residential townships, and commercial establishments in these countries have increased the demand for power. Besides, the rise in the penetration of data centers and large communication base stations have significantly increased the consumption of energy. All these factors are resulting in a surge in the demand for HV transmission lines, which is driving the growth of the market.
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
Major Five Power Transmission Lines and Towers Companies:
ABB Ltd. operates its business through segments such as Electrification, Industrial Automation, Motion, Robotics & Discrete Automation, and Corporate and Other. The company offers overhead lines for high-voltage direct current (HVDC) electric power transmission system.
AECOM operates its business through segments such as Design and Consulting Services, Construction Services, Management Services, and AECOM Capital. The company designs and offers hundreds of overhead, underground, and underwater power transmission lines for the new and upgraded power transmission and distribution systems.
Arteche Group operates its business through the Unified segment. The company offers a line of high voltage instrument transformers, current transformers, combined transformers, capacitive voltage transformers, and power voltage transformers among others.
Lamifil NV operates its business through segments such as Speciality wires, Overhead conductors, and Catenary wires. The company offers a line of overhead capacitors such as AAAC UHC, GAP+, and ACCC ICE+ Soft among others for electricity suppliers and distributors.
MasTec Inc. operates its business through segments such as Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. The company offers high voltage and extra high voltage transmission systems for the most challenging terrains and circumstances.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Power Transmission Lines and Towers Market Type Outlook (Revenue, USD Billion, 2020-2024)
Power Transmission Lines and Towers Market Geography Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Related Reports on Industrials Include:
Global Power Transformers Market – Global power transformers market by type (liquid-immersed power transformers and dry-type power transformers) and geography (APAC, Europe, MEA, North America, and South America).
Global Distribution Automation Solutions Market – Global distribution automation solutions market by solution (field devices, communication systems, and software and services), deployment (system-level and customer-level), and geography (APAC, Europe, MEA, North America, and South America).
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.