The worldwide utility poles market is worth USD 46 billion in 2021 and is projected to reach USD 70.1 billion by 2030 at a 3.8% CAGR.
Utility Poles Market
The current value of the global utility poles market stands at USD 46 billion in 2021, and it is expected to shoot up to USD 70.1 billion by 2030 at a CAGR rate of 3.8% for the forecast period of 2022 – 2030. This report will be a detailed account of all the growth factors, challenges, opportunities, and obstacles of the global utility poles market.
A utility pole is a concrete or a shaft structure that carries and shields the power lines made of fiber optic cables and electrical cables. They bear the weight of these power-generating wires insulating them from external adverse conditions and surfaces according to the positioning of these cables. They are made of different varieties including concrete, sheet, wood, or composite materials. These poles contribute and strengthen the power lines by increasing their durability and ability to withstand heavy electrical pressures.
These wires are also used for composite applications such as transmitting power from power-generating companies to end-users. The energy transmission and amplification of power are also taken care of by these utility poles which stand as a strong insulated structure to safeguard the power lines while also segregating them to allocated users promptly.
Major power lines in mainstream countries are shielded by these utility poles and they run across the world as an important electrical component catering to many telecommunications and electrical service sectors globally.
The entire utility pole business sector was impacted during the pandemic period. The demand for electricity tapered down globally which led to a slump in the market during that period. The reduction in electricity demand and crippled innovations in telecommunication sectors because of lockdowns and curfews led to a poor supply of utility poles. There were also sudden closures of major telecommunication industries across the world during that period which hampered the growth of the global utility poles market excessively.
Growth in energy consumption globally will lead to market growth
Growing global energy consumption, expansion of the global telecommunication industry, and approval of steel as a green material are some of the factors that drive the global utility poles market growth. Energy transmission and energy distribution of the utility poles also play a significant role in supporting utility infrastructure and fulfilling energy needs as per the demand. Increasing power generation capacity and replacement of aging networks work as additional growth drivers for the market.
The demand for utility poles in the telecommunication and electricity sector has the tendency to show some promising growth in the utility pole market. Apart from that, the need for electricity will also go up because of the increasing population in some countries. This factor will generate tremendous demand for utility poles in such countries thereby increasing the prospect of growth in the global utility pole market.
The rapid increase in the underground connection of telecommunication wires pose limitations to the market:
The rise in trend for underground cables and wiring networks is restraining the growth of the global utility pole market. In addition, strict regulations against deforestation are anticipated to be the restraining factors of global market growth during the forecast period.
The introduction of new composite utility poles has given rise to a lot of investment opportunities for market growth
Technological advancements in composite materials such as utility poles have improved growth opportunities for the global utility pole market. These composite materials in the recently observed utility poles are trending across the globe. They are also composed of cost-effective materials which will directly impact the market positively in the coming years as well.
Rapid increase in the underground connection of the telecommunication wires pose a challenge to market: There has been a recent infrastructure modification in the connection of telecommunication wires. Most of these wires have been planted underground to avoid any climatic erosion and physical disturbances. This factor poses a challenge to the growth of the utility poles market as it would affect the demand for the product.
Spacious requirement for the erection of utility poles poses a major challenge for market: Utility poles are concrete structures that need spacious positioning requirements for them to run across the locality to carry power transmission sources. This installation comes with lots of cost and cumbersome effort with an additional requirement of ample spaces for the poles to be erected in the stipulated areas. This is another challenge for the global utility poles market.
The global utility poles market in this research analysis is classified into type, pole size, end-users, and region. The type segment is divided into distribution poles and transmission poles. The pole sizes are categorized as below 40 ft, between 40ft & 70ft, and above 70ft. End users are slotted as electricity transmission & distribution, telecommunication, street lighting, heavy power lines, and others.
In October 2021, Kansai Electric Power Company built utility poles equipped with AI sensors. The move is likely to boost the expansion of the global utility poles market across the globe in the years ahead.
The presence of a vast number of factories in North America will contribute to the growth of the global utility poles market. Moreover, highly populated countries such as India and China in the Asia Pacific region would aid the growth of the global market because of the high demand for electricity. This region has also undertaken major transmission and distribution (T&D) projects for upgrading the transmission network with ultra-high voltage technologies. In addition, there has been a rise in technological advancements and the presence of several new players in the region that are expected to augment the growth of the market in the coming years.
The key market players with respect to the global utility poles market are:
|Report Attributes||Report Details|
|Report Name||Utility Poles Market Research Report|
|Market Size in 2021||USD 46 Billion|
|Market Forecast in 2030||USD 70.1 Billion|
|Compound Annual Growth Rate||CAGR of 3.8%|
|Number of Pages||175|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Key Companies Covered||Valmont Industries, Skipper Ltd, Nippon Concrete industries, Hill & Smith Holdings, Stella-Jones Inc, Fuchs Europoles Gmbh, Omega Factory, Pelco Products, and RS Technologies INC.|
|Segments Covered||By Type, By Pole-Size, By End-use and By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)|
|Countries Covered||North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
|Historical Year||2016 to 2020|
|Forecast Year||2022 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
The increasing energy consumption across the world is seen as a major growth driver of the global utility poles market. This energy consumption will directly link to increased leverage of utility Poles thereby ramping up its market growth
The current value of the Global utility poles market stands at USD 46 billion in 2021, and it is expected to shoot up to USD 70.1 billion by 2030. The CAGR rate is estimated to grow at a 3.8% increase for the forecast period of 2022 – 2030.
North America stands as a very competitive region for the utility poles market growth due to the rapid emergence of vast factories with multiple applications to the utility poles.
The key market players with respect to the global utility poles market are Valmont Industries, Skipper Ltd, Nippon Concrete industries, Hill & Smith Holdings, Stella-Jones Inc, Fuchs Europoles Gmbh, Omega Factory, Pelco Products, and RS Technologies INC.