Transmission Tower Market boosted by Asia-Pacific demand for transmission tower equipment
The Transmission Tower Market deals with development, manufacture and distribution of transmission towers. Transferring power through tower transmission, a lattice tower is the most popular type, is common for most countries right now. A structure enabling tower transmission can be described as tall and made of steel. This huge steel structure is necessary for supporting overhead transmission lines.
Overhead transmission lines usually consist of at least one transmission line conductor. A transmission line conductor is commonly organized in multiples of three. As air takes care of insulation, the Transmission Tower Market has found that tower transmission is one of the cheapest ways to transmit great quantities of power over long distances.
Scope & Regional Forecast of the Transmission Tower Market
The rising Transmission Tower Market demand is due to expanding electricity facilities, replacing outdated equipment, advances in design of transmission towers and improvements in distribution infrastructure. The challenges for the Transmission Tower Market are largely limited to the variable prices of raw materials like steel and import-export tariffs.
A transmission line conductor is a crucial component in the process of tower transmission. Transmission tower types like the lattice tower are used for the conveyance of AC as well as DC for various applications. Hence, transmission tower manufacturers make sure that their final product can withstand natural disasters and extreme weather conditions. The design of transmission towers is always up for further innovation and advances.
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While the demand from developed countries remains relatively stable, the Transmission Tower Market is keen on meeting the rapidly growing needs of developing nations like India and China. A significant population within both Asian countries do not even have access to electricity facilities. Hence, the Asia-Pacific region dominates the Transmission Tower Market share and is also expected to exhibit the fastest demand growth till at least 2021 according to IndustryARC findings.
Meanwhile, the North America and Europe markets are boosting technological innovations and demand for replacing old or outdated equipment. In 2015, North America held the second highest share, behind Asia-Pacific, in the Transmission Tower Market.
Segmentations & Key Players Involved in the Transmission Tower Market
The Transmission Tower Market can be broken down into various segmentations on the basis of –
Type of Current: Alternating Current and Direct Current.
Design of Transmission Towers: Tubular Steel, Wood, Concrete and Lattice Towers.
Some of the key players involved in the Transmission Tower Market according to IndustryARC are as follows:
- Tebian Electric Apparatus Stock Co. Ltd.
- Siemens AG
- Crompton Greaves Ltd.
- ABB Ltd.
- SAE Tower Holdings, LLC
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