Market Trends of Power Transmission Tower Industry
This section covers the major market trends shaping the Power Transmission Tower Market according to our research experts:
Double-Circuit Expected to Witness Significant Growth
- Double-circuit towers are used for double-circuit transmission line networks, which are strongly preferred in the power industry due to their various technical advantages. A double circuit transfers twice the power and is far less expensive to establish. The biggest advantage of the transmission line is that if one circuit goes out of service at a high load, one can load the other up to an emergency rating, and the customers would not know the difference.
- In developing countries, there has been continuous growth in the power transmission network due to increasing power demand for economic growth and the growing population. For example, in India, the transmission network growth was envisaged in every five-year term, with the 2016-2021 figure as 4,56,716 Circuit Kilo Meters (CKM). The country has even more transmission line projects in the queue to go parallel with the enhancing power demand for various applications.
- For example, in May 2022, the Rural Electrification Corporation Transmission Projects Company Limited (RECTPCL) invited applications to establish the 765kV Banaskantha-Ahmedabad double-circuit line in India with 330MVAr, 765kV switchable line reactors on every circuit at the end of the Ahmedabad substation.
- In other countries, too, many double-circuit transmission line projects have been tabled in the recent picture. For instance, in February 2022, 1175km and 600kV HVDC (High Voltage Direct Current) overhead double-circuit transmission line project was planned in the United States to deliver renewable power from a wind power plant in Wyoming to Colorado, Utah, and Nevada.
- Such large-scale power transmission projects will likely positively impact the double-circuit tower market in the coming years.
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Middle-East and Africa Expected to Dominate the Market
- The Middle East and African region have a number of under-developed countries where there is still a need for access to electricity. Thus, the respective governments and private players have planned many power generation and distribution projects with both conventional as well as renewable power plants.
- In Ghana, the rural areas where a huge population is still struggling with unreliable and intermittent power supply, frequent power outages have been the focus of the government for the power generation and distribution projects planned recently.
- For example, in February 2022, the VRA Wind Energy Project-II was planned in Greater Accra, Ghana. It involves the construction of a 76MW wind power plant and power transmission infrastructure by the developer Volta River Authority, the state-owned power distribution company of the country. The project will include around 80 meters high towers in the transmission infrastructure. The project is expected to get completed in the year 2023.
- Furthermore, in the Gulf region, Saudi Arabia and Oman have contemplated building a cross-border electricity grid interconnection in the near future. Such large-scale power trading projects will lead to huge power infrastructure expansion in the region.
- Owing to such developments, the power transmission tower market is likely to have a boost in the region.
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