Covid-19 Impact & Market Status:
Ever since the pandemic struck in 2019 and gradually spread globally by 2020, stern business decisions had to be activated to align with erratic market dynamics in the global steel utility space. As physical contact has to be curtailed to the maximum, industries faced a crisis in terms of supply and demand structures. Imbalanced demand-supply cycles have grossly affected the revenue cycles of the global steel utility market. Food restrictions and business discontinuity in production facilities have caused massive losses in the steel utility poles industry, opine research experts. Compared to the non-COVID scenario, there will be a decrease in investments in electricity transmission and distribution across different areas and/or countries. As a result, investment in development and replacement projects for electrical transmission poles has decreased across the market.
The Steel Utility Poles Market is expected to reach 130 Billion (USD) during the forecast period at a 7% CAGR.
Middle East and South Africa
Highest demands for steel utility poles has been identified in the APAC region recently. Furthermore, rising energy access rates in these nations are projected to encourage the worldwide steel utility poles market to adopt developed products in the approaching years. In addition, the continuous expansion of energy transmission infrastructure in order to supply electricity to remote and rural areas in the region is expected to drive the worldwide steel utility poles market in the future years.
Above 70 feet pole had the second biggest share, and it is expected to expand significantly throughout the forecast period. Electric wires must frequently pass through animal sanctuaries for transportation; poles taller than 70 feet are chosen to protect them from wildlife.
Steel utility poles' better material and chemical qualities, as well as the introduction of steel composite utility poles, are expected to fuel significant growth in the worldwide steel utility poles market in the coming years.
Advancement in the telecommunication industry coupled with spurt in electricity consumption are identified as twin forces for the global steel utility market growth in recent years. The trend is also expected to spill further in the projection timeline.
The introduction of steel composite utility poles is expected to fuel significant growth global steel utility poles market.
Steel utility poles are steel columns or posts that support power lines and other public utilities overhead. The two types of electric power lines carried by utility poles are distribution lines and sub-transmission lines. Local substations provide power to clients via distribution lines. Transmission lines connect regional substations to local substations and transport higher voltage power.
The "Steel Utility Poles Market" is predicted to develop at a 4.3 percent CAGR from 200.7 million USD in 2020 to 306.6 million USD in 2029.
Infrastructural developments such as improved street lighting is witnessing enormous funding across developed and developing nations alike. This is expected to impact the steel utility poles market favorably in the projection timeline.
Steel's reputation as a green material has sparked interest in replacing aged wooden electric distribution poles with steel poles. The advantages of steel utility poles are ample; thus fostering high-end adoption across end-use industries. As global initiatives towards curbing environmental impact is gaining center stage, reliance on steel utility poles over conventionally used wood poles is expected to rise further. Need for mindful energy consumption, conservation of animal life, and lowering of greenhouse gases are furthering the adoption of the steel utility poles. Significant developments in the telecommunication space is likely to suffice growth in the steel utility poles space. Aside from that, the market is being driven by rising energy usage. Steel is also gaining popularity as an environmentally friendly material for utility poles. As a result, prominent players are deploying steel electric poles to help reduce greenhouse gas emissions, terrestrial bone disturbance in forests, habitat disruption, and untreated trash generation.
However, the growing tendency of using and installing underground wire and cable networks may limit product acceptance in the global steel utility poles market in the near future.
The major market players of Global Steel Utility Poles Market are Valmont Industries, DAJI Towers, KEC International, Al-Babtain, Dingli, Nello Corporation, Debao Tower, Western Utility Telecom, TAPP, Meyer Utility Structures, Fengfan Power, Pelco Products, Hidada, Europoles, and Jiangsu Baojuhe among others. To accelerate the rate of technical breakthroughs in their industry, manufacturers and vendors in the global steel utility poles market conduct frequent and regular research and development operations.
Major Developments in Global Steel Utility Poles Market:
- Vectren Corporation and CenterPoint Energy, Inc. announced their merger in February 2019, and the new firm was named CenterPoint Energy, with headquarters in Houston. With regulated electric and natural gas utility companies in eight states and over 7 million metered consumers, this consolidated corporation is well-positioned.
Steel Utility Poles Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 306.6 million|
|Growth Rate||CAGR of 4.3 % during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Valmont Industries, DAJI Towers, KEC International, Al-Babtain, Dingli, Nello Corporation, Debao Tower, Western Utility Telecom, TAPP, Meyer Utility Structures, Fengfan Power, Pelco Products, Hidada, Europoles, and Jiangsu Baojuhe among others|
Key Segments of Global Steel Utility Poles Market
Type Overview, 2019-2029 (USD Million)
- Below 40 ft
- 40-70 ft
- Above 70 ft
Application Overview, 2019-2029 (USD Million)
- Distribution Lines
- Transmission Lines
Regional Overview, 2019-2029 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa