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allied market research report
The utility poles market is growing rapidly, driven by the need for efficient energy distribution and the expansion of utility infrastructure.
WILMINGTON, DE, UNITED STATES, October 22, 2024 /EINPresswire / -- According to a new report published by Allied Market Research, titled,“Utility Poles Market ," The utility poles market was valued at $51.5 billion in 2022, and is estimated to reach $67 billion by 2032, growing at a CAGR of 2.7% from 2023 to 2032.
Surge in demand for overhead power lines and telecommunication cables and the global shift toward renewable energy fuel the growth of the utility poles market. However, fluctuating prices of raw materials and the availability of alternatives for transmission have presented significant hurdles for the market penetration. On the contrary, infrastructure upgrades in the energy sector are expected to provide substantial opportunities for the expansion of the utility poles market during the forecast period.
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Market Dynamics
The global energy consumption is driving a rise in demand for utility poles, necessitating efficient and reliable power distribution networks. The telecommunication industry is expanding, necessitating infrastructure support, and utility poles are crucial for deploying cables and equipment. Steel is recognized as a green material due to its recyclability, durability, and potential for reduced environmental impact. This makes steel a preferred choice for utility pole construction.
Another challenge is the growing preference for underground wire or cable networks, influenced by aesthetics, urban planning, and visual impact. This shift poses a challenge for traditional utility pole usage. Environmental concerns and regulations against deforestation also impact the utility poles market. Traditional wooden poles may be limited, prompting the industry to explore alternative materials and construction methods.
The utility sector is also shifting towards using composite materials for utility pole construction, offering advantages such as lightweight construction, environmental resistance, and longevity. This presents an opportunity for the market to address traditional challenges and meet evolving industry needs.
Impact Scenario
.Stringent environmental regulations significantly impact the operations of the utility poles market, especially in major countries committed to mitigating ecological harm.
.The emerging markets such as Brazil and China prioritize the development of renewable energy such as solar and wind for power generation. Furthermore, increase in incentives for rooftop solar installation in India has a positive impact on the utility poles market.
.Surge in demand for energy and rise in awareness among the people toward the environment have led to the shutdown of thermal power plants in Europe and a shift toward sustainable energy sources.
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Segments Overview
The utility poles market scope is segmented based on type, material, pole size, application, and region. By type, the market is divided into transmission poles and distribution poles. On the basis of the material, it is segmented into wood, steel, composites, and concrete. Depending on pole size, the market is categorized into below 40ft, between 40 & 70ft, and Above 70ft. On the basis of application, the market is categorized into electric transmission & distribution, telecommunication, street lighting, heavy power lines, sub-transmission lines, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
In terms of application, the distribution pole segment holds the largest share in utility poles market, driven by the surge in global energy demand. On the other hand, the transmission pole segment is anticipated to witness the fastest Compound Annual Growth Rate (CAGR) growth from 2023 to 2032. This growth is attributed to the increasing demand for power supply and the imperative for safe electricity transmission, with a focus on upgraded designs to withstand changing climatic conditions and global weather patterns. The abovementioned utility poles market trends will boost the demand for transmission poles during the forecast period.
The concrete pole segment is expected to exhibit the fastest CAGR growth from 2023 to 2032 in utility poles market. This utility poles market growth is attributed to the introduction of composite materials in the utility sector, promoting longer lifespan compared to other types. Meanwhile, the wooden pole segment, accounting for nearly half of the market in 2022, remains dominant due to the simultaneous increase in energy consumption and broadband users.
The global utility poles market shows significant regional variation in growth, driven by factors such as infrastructure expansion, rising energy demands, and technological advancements. Asia-Pacific leads the market due to rapid urbanization, industrial growth, and government initiatives aimed at improving electricity access and grid modernization. The focus on smart grid technologies in countries like China and India is accelerating demand for new utility poles to support modern energy infrastructure and communication networks.
North America follows closely, with substantial investments in grid resilience, renewable energy integration, and telecommunications infrastructure. The region's emphasis on sustainability is driving the replacement of aging poles with durable materials like steel and composite poles.
In Europe, the market is propelled by urban modernization projects and the development of sustainable energy solutions. Steel poles are gaining traction due to their strength and recyclability, helping utility providers meet environmental regulations.
Meanwhile, Latin America and the Middle East & Africa regions are seeing steady growth, mainly driven by rural electrification programs, energy distribution projects, and improvements in telecommunication networks to enhance connectivity.
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Competitive Analysis
Major players in the utility poles market analysis include Stella-jones Inc., El Sewedy Electric Company, Fuchs Europoles GmbH, RS Technologies Inc., Omega Factory, Nippon Concrete Industries Co., Ltd., Hill & Smith Holdings Plc, Valmont Industries Inc., Skipper Ltd., Pelco Products Inc, and others. These players contribute to the competitive landscape of the market, driving innovation and advancements in materials and designs to meet the evolving needs of the utility poles industry.
Key Findings of the Study
.By type, distribution poles dominated the market accounting for more than three-fifths of the utility poles market share in 2022.
.Based on pole size, below 40ft is the fastest growing segment with a CAGR of 3.1% from 2023-2032.
.By Application, energy transmission and distribution dominated the market accounting for more than two-thirds of the utility poles market size in 2022.
.Based on the material the steel segment segment is expected to grow at a CAGR of 2.7%, in terms of revenue, during the utility poles market forecast period.
.Region-wise, Asia-Pacific garnered a major share in 2022 in terms of revenue.
David Correa
Allied Market Research
+15038946022 ext.
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