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Expansion of existing electricity networks, increase in electricity access rate in developing and underdeveloped countries, and the introduction of monopoles.
PORTLAND, OREGON, UNITED STATES, July 25, 2022 /EINPresswire.com / -- Utility pole is an end to end connection of electrical wires that carries and distributes electricity as per the convenience. Therefore, utility poles are designed to be durable in nature. The normal life cycle of a utility pole ranges from 30 to 50 years but this life span varies based on the material used. Traditionally, wood poles were preferred mostly in response to material suitability but gradually wooden poles are getting replaced by steel and now composite based poles due to enhanced properties and benefits associated with them.
Steel's material profile is approved as a green material and the market has seen different growth perspectives thereafter. Most of the aged wooden utility poles have started to replace from steel poles due to greater benefits such as ease of installation, reliability, durability, life cycle cost, and environmental considerations. Currently, there are more than 150 utility poles are in service in North America (of which more than 70% are wooden) and around 2.5 million are getting replaced by steel poles. As a result, steel-based poles likely to have a promising future during the forecast period.
Utility poles industry was pegged at $45.6 billion in 2018 and is projected to reach $58.8 billion by 2026, registering a CAGR of 3.2% from 2019 to 2026. The report provides an extensive analysis of the market dynamics including drivers & restraints, major winning strategies, market size & projections, competitive landscape, and major segments.
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Some of the other factors driving the adoption of utility poles are the expansion of existing electricity networks, increase in electricity access rate in developing and underdeveloped countries, and the introduction of monopoles. Monopoles are the latest invention in this market, however, lack of awareness associated with them is holding the market from maximizing the growth. In addition, composite poles are also introduced in the market that is showing greater potential for the coming years. This pole type has superior properties and is lightweight as compared to other poles, due to which composite poles are expected to register the highest CAGR during the forecast period.
Based on material, the market is segmented into concrete pole, steel pole, wooden pole, and composite pole. The concrete pole segment is expected to manifest the fastest CAGR of 3.7% from 2019 to 2026. However, the wooden pole segment dominated the global utility poles market in 2018, accounting for nearly half of the market.
Based on region, the market is analyzed across Asia-Pacific, North America, LAMEA, and Europe. The global utility poles market across Asia-Pacific held the largest share in 2018, contributing to nearly two-fifths of the market. Moreover, the region is expected to register the fastest CAGR of 3.6% through 2026.
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Some of the major market players studied and profiled in the global utility poles market are Valmont Industries Inc., Skipper Ltd., Nippon Concrete Industries Co. Ltd., El Sewedy Electric Company, Hill & Smith Holdings PLC, Stella-Jones, FUCHS Europoles GmbH, Omega Factory, Pelco products Inc., RS Technologies Inc., and others.
Key Findings of the Study:
•By type, distribution pole emerged as the global leader in 2018 and a similar segment likely to continue its dominance on the global utility poles market. Electric distribution activities required a repeated number of poles as per the electricity demand which drives the growth of this segment.
•By material, wood is the largest revenue-generating segment in 2018. Wood is the pioneer material in the pole making industry due to which it is still used significantly across the globe. However,
•By application, energy transmission and distribution is the major segment accounted for around 70% market share in 2018. Utility poles are mainly required in the energy transmission and distribution activities that make this segment the largest one among others.
•Composite utility poles offer the longest lifespan due to which it is expected to register highest CAGR during the forecast period
Key Market Segments
•By Type
oTransmission Poles
oDistribution Poles
•By Material
oConcrete
oWood
oSteel
oComposites
•By Pole Size
oBelow 40ft
oBetween 40 & 70ft
oAbove 70ft
•By Application
oEnergy transmission & distribution
oTelecommunication
oStreet lighting
oHeavy power lines
oSubtransmission lines
oOthers
David Correa
Allied Analytics LLP
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