The utility poles market is expected to grow at a compound annual growth rate (CAGR) of 3.5% from 2021 to 2030.
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A utility pole is a column that carries overhead power lines, fiber optic cable, electrical cable, and supports transformers and streetlights. A utility pole is also known as a telecommunication pole, a power pole, a transmission pole, a telephone pole, a hydro pole, or a telegraph pole depends on its application.
The demand for utility poles in the telecommunication and electricity sector is expected to show some promising growth in the market. Apart from that, the increasing population in the countries will automatically develop the need for electricity. Thus, it will generate tremendous demand for utility poles in such countries.
The advent of Steel- based poles has reinforced the growth of the global utility pole market. Several advantages of steel utility poles, such as ease of installation, durability, reliability, and lower life cycle costs, are driving the replacement of wooden poles. North America has over 150 million utility poles. 70% of the total numbers of poles are wooden poles, of which 2.5 are getting replaced by steel poles. Thus, such advancements are expected to expand the opportunities for the steel-based poles market.
Apart from that, the increasing adoption of the utility poles, owing to the development of electricity networks, rising electricity access rates in developing countries, and the invention of monopoles would exhibit favorable results in the growth of the global utility poles market.
The U.S. Bureau of Economic Analysis and the U.S. Census Bureau reports that the goods and services deficit rose from $68.7 billion in January 2023 to $70.5 billion in February, an increase of $1.9 billion. Due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion, the goods and services deficit increased in February. The goods and services deficit has decreased this year by $35.5 billion, or 20.3% when compared to the same period in 2022. $10.8% more, or $49.5 billion, was exported. Imports cost $2.2% more, or $14.0 billion, than exports.
COVID-19 pandemic
The COVID-19 pandemic impacted the entire business sector in various nations, owing to the nationwide lockdown, strict rules, and threat of the virus. These factors lead to a decrease in electricity demand, which translates to an over 10% reduction in overall electricity demand. The shutdown of the industrial sector for few months brought a maximum slump in the requirement for electricity. However, a decrease in COVID-19 cases will help resume the industry growth at the same pace.
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Regional Analysis
The presence of a vast number of factories in North America will extend the contribution of the region to the global utility poles market. Moreover, highly populated countries such as India and China in the Asia-pacific region are expected to fuel the growth of the market. The countries have witnessed a high demand for electricity across the region, which will expectedly fuel the growth of the market by increasing the demand for utility poles.
Key Market Segments
By Application
Energy transmission & distribution
Telecommunication
Street lighting
Heavy power lines
Subtransmission lines
Others
By Type
Transmission Poles
Distribution Poles
By Material
Concrete
Wood
Steel
Composites
By Pole Size
Below 40ft
Between 40 & 70ft
Above 70ft
By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
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Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Key Market Players
Valmont industries Inc. (U.S.)
Skipper ltd. (India)
Nippon concrete industries co., ltd. (Japan)
Elsewedy Electric Co S.A.E (Egypt)
Hill & Smith Holdings PLC (U.K.)
Stella-Jones Inc (Canada)
FUCHS Europoles GmbH (Germany)
Omega factory (Europe)
Pelco Products Inc. (U.S.)
RS Technologies Inc. (Canada)
Other Prominent Players
Aim of the Report
This study aims to determine the market size of various segments and countries with forecast values for next ten years.
Within the regions and countries studied, the report covers both qualitative and quantitative aspects of the industry.
It also provides detailed information about the crucial aspects such as drivers & challenges that will influence the market’s future growth.
The report will also include investment opportunities in micro markets for stakeholders. In addition, an in-depth analysis of key players’ products and the competitive landscape.
Key questions answered in the global market report are:
— How does a global company acquire markets?
— What are its core strategies and policies?
— What factors will influence the market over the forecast period?
— What are the factors driving and restraining the market?
— What are the leading competitors in the global market?
— Which region is growing at a higher pace in the global market?
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