Technology

Power transmission towers & cables market forecast to expand at 7 pc CAGR by '23

MUMBAI: The power transmission towers and cables market is expected to exceed more than US$ 14 billion by 2023 expanding at a CAGR of more than 7.0 per cent in the given forecast period 2015 and 2023, according to Market Research Engine's new report which also covered Indian companies such as Kalpataru Power Transmission.

Power transmission towers and cables are used to transmit and distribute or broadcast the electricity to all the end user from power production unit. The important supporting element of transmission line is transmission tower. It is a fundamental part of global power transmission infrastructure. These power transmission tower having variety of design, shape and located at an suitable height from land. These towers are made up of different materials includes steel, concrete, lattice and wood. For transmitting power to a particular location it uses transmission lines which having heavy conductor and various types of cable. The power transmission towers and cables has view increase growth in the current period, as growing requirement for electricity in all over world. It changes the old power transmission tower and cable infrastructure into latest version.

The major driving factors of transmission towers and cables market are as follows:

• Require for efficient transmission scheme
• Rising demand for electricity across the world

The restraints factors of transmission towers and cables market are as follows:

• Complex development and approval procedures holdup projects

The patient engagement solutions market is segmented on the lines of its type and geographical region. Under type segmentation it covers power transmission cable and power transmission towers. The transmission towers and cables market is geographic segmentation covers various regions such as North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Each geography market is further segmented to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, India, Brazil, and GCC countries.

The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market. Key players profiled in the report include General Cable Technologies Corp., Southwire Co. LLC, Zhejiang Shengda Steel Tower Co. Ltd., KEC International Ltd., Kalpataru Power Transmission Ltd., Nexans S.A., Prysmian S.p.A., Shandong Dingchang Tower Co. Ltd., Nanjing Daji Iron Tower Manufacturing Co. Ltd., and Sumitomo Electric Industries Ltd.

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