According to a new market report published by Lucintel, the future of the global utility pole market looks promising with opportunities in the electric transmission and distribution sector. The global utility pole market is expected to reach an estimated $52.1 billion by 2024 with a CAGR of 4.1% from 2019 to 2024. The major growth drivers for this market are increasing power generation capacity, growing transmission and distribution infrastructure, and replacement of aging networks.
In this market, steel, concrete, wood and composite are the materials used for manufacturing utility poles. On the basis of comprehensive research, Lucintel forecasts that steel will remain the largest material segment over the forecast period due to its high durability and low maintenance. Lucintel predicts that composite poles are expected to witness the highest growth during the forecast period because they offer rot and corrosion resistance, minimal maintenance, easy installation, and superior strength-to-weight ratio.
Within the global utility pole market, distribution will remain the largest application over the forecast period due to increasing electrification of remote areas in developing economies.
Asia Pacific will remain the largest market and it is also expected to witness the highest growth over the forecast period due to increasing investments in the power sector and improvement in the transmission and distribution networks in developing nations, particularly as China and India.
Emerging trends which have a direct impact on the dynamics of the market include wider use of transmission monopoles and increased usage of composite poles in transmission and distribution. Valmont Industries, KEC International, Qingdao, Skipper, Stella Jones, Europoles, Elsewedy Electric, and Nippon Concrete Industries Co Ltd. are among the major suppliers of utility poles.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global utility pole market by application, material, size, type, and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Global Utility Pole Market 2019-2024”. The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global utility pole market by application, material, size, type, and region, as follows:
By Application [Value ($ Million) and Volume (Thousand Units) from 2013 to 2024]:
By Material [Value ($ Million) and Volume (Thousand Units) from 2013 to 2024]:
By Size [Value ($ Million) and Volume (Thousand Units) from 2013 to 2024]:
• Below 40 ft.
• 40-70 ft.
• Above 70 ft.
By Type [Value ($ Million) and Volume (Thousand Units) from 2013 to 2024]:
By Region [Value ($ Million) and Volume (Thousand Units) from 2013 to 2024]:
• North America
− United States
− United Kingdom
This 215-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or firstname.lastname@example.org. Lucintel offerings include Energy Market Report, Energy Industry, Due Diligence, Capital Investment Analysis and Strategic Growth Consulting.
This report addresses the following key questions:
Q. 1. What are some of the most promising, high growth opportunities for the global utility pole market by application type (transmission and distribution), material (steel, concrete, wood, and composite), size (below 40 feet, 40 to 70 feet, and above 70 feet), type (new and replacement), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2. Which product segment will grow at a faster pace and why?
Q. 3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market and which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q. 11. What M&A activity has occurred in the last 5 years?