Lucintel Forecasts Utility Pole Market to Reach $47.0 Billion by 2027

Category: Business

According to the recent study the Utility Pole Market is projected to reach an estimated $47.0 billion by 2027 from $36.4 billion in 2021, at a CAGR of 4.4% from 2021 to 2027. Growth in this market is primarily driven by increasing power generation capacity, growing transmission and distribution infrastructure, and replacement of aging networks. Browse 129 figures / charts and 102 tables in this 215 -page report to understand trends, opportunities and forecast in 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). Download sample report by clicking on below link https://www.lucintel.com/utility-pole-market.aspx “Steel market is expected to remain the largest segment during the forecast period.” Based on material, the utility pole market is segmented into steel, concrete, wood, and composite. Lucintel forecasts that the steel market is expected to remain the largest segment 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 utility pole market, the distribution segment is expected to remain the largest application” Based on application the distribution segment is expected to witness the highest growth over the forecast period due to increasing electrification of remote areas in developing economies. “Asia pacific will dominate the utility pole market in near future” 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. Download Brochure of this report by clicking on https://www.lucintel.com/utility-pole-market.aspx Major players of utility pole market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Valmont Industries, KEC International, Qingdao, Skipper, Stella Jones, Europoles, Elsewedy Electric, Nippon Concrete Industries Co Ltd are among the major utility pole providers. This unique 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 click on this link https://www.lucintel.com/utility-pole-market.aspx or helpdesk@lucintel.com