28 Jul 2016 08:07:10
Asia Pacific to Present Most Promising Opportunities for Development of Power Transmission Towers and Cables, says TMR
The increasingly dynamic operating environment with the integration of renewable and distributed power resources in conventional grid infrastructure will have a major impact on the future development of the global power transmission towers and cables market, states a recent report by Transparency Market Research (TMR). The vast number of companies operating in the highly fragmented marketplace will benefit from the rising demand for upgradation of old or technologically outdated grid infrastructures. Asia Pacific is home to some of the largest vendors in the power transmission towers and cables market, including Sumitomo Electric Industries Ltd., KEC International Ltd., ShanDong DingChang Tower Co. Ltd., Nanjing Daji Iron Tower Manufacturing Co. Ltd., Zhejiang Shengda Steel Tower Co. Ltd., and Kalpataru Power Transmission Ltd.
Mounting Demand for Electricity to Lead to Expansion of Grid Networks
Uninterrupted and high quality electricity supply being central to several developments in today’s increasingly digitized world, the vast rise in the global demand for electricity forms the backbone of the global power transmission towers and cables market. In addition to this factor, rapid industrialization and urbanization will be the major factors encouraging developments in the market in the next few years.
The need to adapt to the dynamically changing grid infrastructures, owing to the rising integration of renewable power sources in conventional grids, and dynamically changing load profiles will lead to technological advancements in the sector. The market will also witness significant development in response to the need for upgrading grid elements to technologically advanced ones, demand for which is driven by the increasing complexity of transmission networks and the constant rise in power flow.
However, the market will be hampered to a certain extent owing to the emergence of wireless power transmission technologies such as laser beaming and solar and magnetic resonant induction coupling in the next few years. Known to minimize electrical energy losses and grant increased convenience of energy transfer, these technologies will see increased adoption from utilities looking for ways of achieving increased power efficiency. Adoption of these technologies will, to an extent, limit the need for overhead cables and above-ground power transmission towers.
Download the Power Transmission Towers and Cables Industry Fact Sheet by 2023 @ http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=8965
Urgency for Grid Upgradation in Emerging Countries to be Key Enabler of Growth
The markets for power transmission towers and cables in developed regions will be driven majorly by the vast and rapid changes in power flows and operating environment associated with the rising inclusion of renewable and distributed power resources in grid infrastructure. Additionally, the aging of grid components in these regions will also be a major driver of the power transmission towers and cables market.
In developing regions such as Asia Pacific and Africa, limitations in existing grid infrastructure will lead to the increased demand for technologically advanced power transmission towers. Existing products in grid infrastructure in these regions, including circuit breakers, fixed shunt reactors, and conventional transformers, will not be able to deal with situations such as higher power and quality demands of modern digital devices, load variability, and increasingly complex and long interconnections. Thus, power transmission towers will be subjected to numerous changes in regards with design, control mechanism, and safety and security features in the near future, driving increased demand for tower maintenance and upgradation services.
Asia Pacific will account for the largest share in the global market for power transmission towers and cables in terms of both volume and revenue generation, with nearly 44% and 49%, respectively, in the global market by 2023.
Transparency Market Research projects that the global market for power transmission towers and cables will tread along a healthy growth path over the next few years. Expected to exhibit a CAGR of 7.15% over the period between 2015 and 2023, the market will rise from a valuation of US$7.62 bn in 2014 to US$13.90 bn by 2023.
For the study, the market is segmented as follows:
Global Power Transmission Towers and Cables Market: By Type
Power Transmission Towers
Power Transmission Cables
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Transparency Market Research
USA - Canada Toll Free: 866-552-3453
Clicking a category below will direct you to a list of related information
Market Research Community
Related Items From Everyone
Biomass boilers are quickly replacing boilers running on conventional fuels, due to the...
17 Jul 2015
Next month will see a national energy efficient transport celebration take place in London.The...
24 Sep 2009
Wiley publishes boks relating to air pollution, environmental strategy, sustainable buildings,...
We have a range of great wind up and powerful LED torches, originally based on Trevor Baylis's...
Nu-Heat is a market leader in the supply of integrated ‘renewable’ heating...