The rising investments in the expansion of grids across national & international borders is sure to augment power transmission lines and towers market trends in the forthcoming years. The last few months indeed, have witnessed numerous investments in power projects and transmission line upgradations by public and private bodies. Several regional governments have permitted some of the prominent giants in power transmission lines and towers industry to expand and refurbish the existing power setups. These initiatives have come amidst the backdrop of concerns stemming from energy shortage and the subsequent implementation of the green energy grid. In fact, government bodies have also framed long-term policies to increase the dependency on renewable energy grids, propelling power transmission lines and towers industry trends.
Europe Transmission Lines & Towers Market Size, By Voltage, 2017 & 2024 (USD Million)
Some of the recent regional investment instances that have had a considerable influence on the global power transmission lines and towers market are elaborated as below:
Power transmission lines & towers industry firm Sterlite Power to expand Brazilian operations
Eyeing the escalating infrastructure developments in the region, most of the energy companies have been making extensive investments in Brazil. The country’s growing energy grid potential is generating a wide range of business opportunities for the players to invest in. On these grounds, Sterlite Power, an India based energy company recently made it to the headlines for planning to invest USD 4 billion in Brazil to develop energy projects by 2022.
Incidentally, the company, in 2017, also won orders to construct power transmission lines across Brazil, cementing its position in the regional power transmission lines & towers market. Currently, the firm is also participating in government auctions to get orders for new projects. In the future, it is anticipated that power transmission companies are likely to take the advantage of the growing energy operations across Brazil – a trend that is poised to generate competitiveness in LATAM power transmission lines and towers market.
Germany to impel Europe power transmission lines and towers industry trends
Since quite a while now, most of the EU member nations have been looking forward to increasing the dependency on renewable energy sources. The depleting fossil fuel resources and growing concern to reduce carbon footprints are the major causes promoting renewables across Europe. The German government has been particularly proactive in this regard, having planned to become 65% dependent on renewable energy sources by 2030, fueling the requirement of investments in power grids.
In order to facilitate the 2030 objective, the Federal grid operator, BNetzA is focusing on the deployment of more power lines. The growing involvement of the government in grid expansions is thus likely to boost Germany power transmission lines and towers market, which by extension will have an impact on the Europe industry.
Investments in electricity transmission network across Australia to propel APAC power transmission lines and towers market share
In Australia, the Melbourne based energy company, AusNet Services has signed a deal with Goldwind Australia and the Australian Energy Market Authority to build a power transmission network outside Victoria. AusNet plans to deploy power transmission lines from the Stockyard Hill Wind Farm to the Haunted Gully. The construction of this line will begin in July 2018 and will last for the end of 2019, with an investment of AUD 140 million.
With AusNet Services being one of largest diversified energy network business in Victoria operating three regulated networks, experts deem that the construction of this transmission line will prove to be highly profitable for the region. Australia is likely to be a witness to many more such investments to build electricity transmission and distribution lines, thereby stimulating the regional power transmission lines and towers market size.
It would be prudent to mention that transmission lines need to be refurbished after few years of use due to damages. Regional governments have been implementing power grid policies in this regard, to reinstall damaged transmission lines, further augmenting this business space.
The fast-track implementation of power projects across the globe are remarkably strengthening the power transmission lines and towers market. Furthermore, the shifting trends toward the growing adoption of renewables for fulfilling energy needs will also boost the product demand over the years ahead. Aided by continuous maintenance activities and transmission line construction projects to enable uninterrupted power supply, by the end of 2024, power transmission lines and towers market size is expected to cross USD 60 billion.