Increasing Energy Consumption Globally Even during the Covid-19 Pandemic Situation is predicted to drive the Utility Poles MarketDownload Sample Reports Overview
The Covid-19 pandemic is predicted to have a negative impact in the growth of the global utility poles market in the forecast period. The market is predicted to recover by Q3/Q4 2022. The utility poles are mostly used to support the overhead power lines and various other public utilities. Due to shutting down of various end use industry, it is predicted to hamper the utility poles market growth in the forecast period. The utility poles market is majorly driven by increase in the energy consumption and expansion of the telecom industry. Development of composite utility poles as it is the most cost-effective material is been used which is predicted to have a significant growth opportunity in the forecast period. During this coronavirus crisis situation, we are helping our clients in understanding the impact of COVID-19 on the utility poles market. Our reports includes the following:
- Technological Impact
- Social Impact
- Investment Opportunity Analysis
- Pre- & Post-COVID Market Scenario
- Infrastructure Analysis
- Supply Side & Demand Side Impact
As per a new report published by Research Dive, the global utility poles market is set to generate a revenue of $ 55,360.7 million by 2026, at a CAGR of 2.7% during the period of forecast. The segmentation of the market has been done based on application, pole size and region. The report provides in-depth insights on drivers, vital segments, opportunities, restraints, and key players of the market.
Factors Affecting the Market Growth
As per our analysts, increasing energy consumption globally is predicted to drive the utility poles market in the forecast period. Moreover, growing undergoing connection is predicted to hamper the market growth in the forecast period.
Between 40ft and 70ft segment will have a Substantial Growth during the Forecast Period
Depending on the pole size, the utility poles market is further divided into below 40ft, between 40ft and 70ft and above 70ft. The between 40ft and 70ft segment was valued at $ 18,282.9 million in revenue in 2018 and is anticipated to grow at 2.8% CAGR. The growth of the segment is predicted to as it is most widely used pole type in most of the end use industry for various application.
Electricity Transmission and Distribution Is Predicted To Be the Most Lucrative Segment
Depending on the application, the utility poles market is further divided into electricity transmission and distribution, telecommunication, street lighting, heavy power lines, sub transmission lines and others. The market size for the electricity transmission and distribution segment was valued at $30,665.6 million in 2018 and is predicted to grow at a CAGR of 2.5% in the forecast period. The consumption of utility poles for electricity transmission and distribution is on a faster pace which will boost the segment in the forecast period.
Regional Breakdown of the Market
Depending on the region, the utility poles market is further divided into North America, Europe, Asia Pacific, and LAMEA. The Asia-Pacific utility poles market was valued at $17,428.3 million in 2018 and is anticipated to rise at 3.1% CAGR during the projected period. Massive population and massive investment by major companies in the region is predicted to boost the region market in the forecast period.
Top Companies Leading the Market
The major key players in the utility pole market players include El Sewedy Electric Company, Hill & Smith Holdings Plc, KEC International, Valmont Industries Inc., Skipper Ltd., Omega Factory, Nippon Concrete Industries Co. Ltd., Pelco products Inc., Stella-Jones, RS Technologies Inc. and FUCHS Europoles GmbH.