Top 3 trends fostering the global distribution lines and poles market size
Selbyville, Delaware, United States, September 29 2020 (Wiredrelease) Global Market Insights, Inc –:The global distribution lines and poles market has developed as one of the most profitable industries in recent years owing to the ever-increasing population across the world which demands a higher amount of electricity.
Along with the growing population, increasing efforts from governments towards electrification across their respective regions has led to a significant rise in the electricity demand, which is consequently driving the distribution lines and poles market size. Citing an instance, the Government of India had invested about $3.6 billion for rural electrification between the years 2014 and 2018.
Considering these massive growth trends, the global distribution lines and poles market is projected to surpass $100 billion over the forthcoming timeframe.
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Below is a brief overview of top three trends that are defining global distribution lines and poles market trends:
Increasing demand for ≤11 kV voltage lines
The ≤11 kV distribution lines segment would foresee significant growth owing to increasing electricity demand from residential and small commercial sectors. This demand in electricity can be accounted to the ever-increasing population across the world as well as ongoing commercialization.
Taking 2018 for instance, MDPI predicted the yearly consumption of electricity in Nigeria from the residential sector to reach 61 TWh/year by 2030, observing a development of more than 50% from the consumption in 2015.
Massive product adoption trend forecast for steel distribution poles over the coming years
Speaking of the material segment, the steel distribution poles segment is set to witness significant growth in the coming years owing to a few of the vital characteristics of steel like standard quality, high strength, light weight, and extended service life.
Along with these characteristics, lesser impact on the environment linked with the utilization of steel poles is complementing their market share. Better immunity against rodents, rotting, and fire are further increasing the deployment of steel poles over other counterparts across the world.
In fact, as stated by the AISI (American Iron and Steel Institute), in 2018, more than 300 utilities in the United States are replacing wood poles with steel poles owing to the better efficiency and durability.
Ongoing replacement and refurbishment initiatives for ageing infrastructure across North America
On the geographical front, North America distribution lines and poles market is likely to foresee significant growth owing to increasing investments towards the substitution and refurbishment of aging distribution infrastructure.
Citing an instance, according to the WEDC (Wisconsin Economic Development Corporation), Canada would require new investments worth $350 billion across a time span of about 20 years starting from 2017. This investment would be used to upgrade and renew the aging grid infrastructure.
Furthermore, extensive investments are also needed in the power distribution market to accommodate the increasing power demand as well as evolving consumption patterns.
Some of the prominent players increasingly contributing to the global distribution lines and poles market landscape are inclusive of players such as Valmont, Riyadh Cables, Stella Jones, Apar Industries, Nexans, Stresscrete, Lamifil, Pelco, KEI, Versalec, Bell Lumber & Pole, ZTT, and Fifan among others.
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