Transmission Towers Market Update, Analysis, Forecast, 2022 – 2028

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Transmission Towers Market Update, Analysis,
Forecast, 2022 2028

• The Transmission Towers Market research report
  analysis from recent past with an eye on coming
  years in this report that also offers projections
  towards industry targeted at helping in business
  decisions. Global transmission tower market size
  will record more than 4 CAGR during the forecast
  period of 2022-2028.
• Global transmission tower market has seen
  commendable progress due to the strong demand for
  a continuous supply of electricity across urban
  and rural areas. Governments are announcing
  supportive initiatives to expand the network of
  transmission distribution (TD) systems.
• Power outage and poor functioning of grid
  networks have become some of the major causes of
  concern for developed and developing nations.
  With the rising establishment of industries and
  use of connected technologies, the pressure to
  keep up with the strong electricity demand has
  overwhelmed the power supply networks.

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• These companies are launching new and improved
  versions of their products to expand their range
  of offerings. For instance, in August 2021, TATA
  Power announced plans to develop a 3-circuit
  high-tension transmission tower at a metro
  construction site in Mumbai, India. The tower
  will carry 220 kV of power lines and provide a
  continuous electricity supply during the
  construction work.

• Electricity consumption has reached an all-time
  high in recent years due to the growing
  industrialization and urbanization. With the
  work-from-home trend picking up pace, especially
  since the COVID-19 pandemic period, the need for
  an uninterrupted supply of electricity has
  skyrocketed.

• The rising adoption of wireless systems and
  advanced technologies like AI, machine learning,
  and IoT has significantly increased the
  installation of these facilities. According to
  reports, data centers consume nearly 200 terawatt
  hours (TWh) every year, which is more than the
  total energy consumption of some nations. This
  will further improve the demand for
  high-performing transmission lines.

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• Regional Analysis

• According to the National Bureau of Economic
  Research (NBER), U.S. citizens spent around USD 6
  billion more on residential energy consumption
  between April and July 2020 as compared to
  pre-COVID times. Over the next few years, the
  deployment of transmission towers to support
  incessant power demand will continue to see an
  uptick.
• In December 2020, Mexico witnessed the failure of
  two major transmission lines, which disconnected
  8.7 GW of generation capacity. The incident left
  one-third of the country without power. Such
  mishaps have prompted organizations and
  governments to work on various ways to enhance
  the load-bearing capacity of transmission towers
  and fulfill peoples electricity needs.

• Competitive Analysis

• QUANTA SERVICES, Utkarsh India Limited, Jyoti
  Structures Limited, Valard Construction, NEXANS,
  Burns McDonnell, Power Line Services, Inc, and
  Wilson Construction, among others

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