Global Transmission Line Market Assessment, By Type [Overhead Transmission Lines, Underground Transmission Lines, Submarine Transmission Lines], By Voltage Range [Low, Medium, High, Extra-High, Ultra-High], By Application [Electricity Transmission, Renewable Energy Integration, Smart Grid Infrastructure], By End-user [Telecommunication, Transportation, Utilities, Industrial and Commercial, Others], By Region, Opportunities and Forecast, 2017-2031F

Global transmission line market is projected to witness a CAGR of 5.52% during the forecast period 2024-2031, growing from USD 104.90 billion in 2023 to USD 161.17 billion in 2031. 

Global transmission line market Size, Future, Growth, Opportunity, Forecast 2031

Global transmission line market is projected to witness a CAGR of 5.52% during the forecast period 2024-2031, growing from USD 104.90 billion in 2023 to USD 161.17 billion in 2031. The market has experienced significant growth in recent years and is expected to maintain a strong pace of expansion in the coming years. &nbsp;
The demand for transmission lines is rising due to the continuously growing population, urbanization, and industrialization worldwide. These lines are vital in connecting the remote renewable energy farms to the urban centers, ensuring a reliable and steady electricity supply. Moreover, transmission lines are responsible for the electrical grid's stability and minimizing energy losses, making them essential for power supply in developing nations.
Asia-Pacific is the most prominent region in the market due to the presence of countries such as China and India. These countries are regarded as powerhouses of electricity and are strongly focused on improving electricity transmission infrastructure in underdeveloped areas. Moreover, governments in the region are taking the initiative for the improvement of power transmission infrastructure, which fosters the demand for transmission lines in the market.
For instance, in February 2024, the Power Construction Company of China successfully completed the construction of the 220kV transmission line section (L61/64) and six new substations in the Lualaba and Upper Katanga Provinces of the Democratic Republic of Congo. The project includes two 220kV double-circuit transmission lines, L41 and L61, spanning over a distance of 190 kilometers. This development aims to alleviate electricity shortages in mining areas and improve Congo&rsquo;s residents' access to power, thereby enhancing livelihoods and promoting economic development, aiding the market growth significantly.
<h2>Huge Investments in Transmission Line Setup is Amplifying Market Growth</h2>
A continuous rise in the need for electricity supply has led to a steep increase in expenditure by the government and private sectors for setting up transmission lines. Transmission lines assure a reliable supply of power, connection of renewable energy sources to the grid, and increase grid strength, thereby preventing blackouts. These lines enhance the efficiency of electricity transmission over long distances by minimizing power losses. Furthermore, well-built transmission lines aid the economic growth of a country by ensuring that the industrial areas and households have a steady power supply. This, in turn, supports the efforts aimed at achieving a safer energy environment, thereby augmenting market growth.
For instance, in July 2024, the European Union (EU) invested around USD 92.21 million in the Eastern Backbone Transmission Line Project to ensure a reliable supply of electricity in Malawi (East Africa). The funding is aligned with the Malawi 2063 objectives and EU Global Gateway Strategy. The project involves the construction of a new 132 kV line on a steel frame tower by replacing the deteriorating 42-year-old wooden pole-mounted lines. The investment will benefit domestic and agro-based industries, mining projects, and rural growth centers by increasing the reliability of power and reducing transmission losses, thereby proliferating the market expedition rate to a great extent.&nbsp;&nbsp;&nbsp;&nbsp;
<h2>Requirement of Transmission Lines in Renewable Energy Infrastructure Is Fueling Market Growth</h2>
Transmission lines are crucial in creating a renewable energy infrastructure since they enable effective electricity transmission from generation sites to consumption centers. Countries across the globe need reliable transmission systems, which could enhance the efficacy of their grid infrastructure. Moreover, government investment in the construction of High-voltage direct current (HVDC) and AC transmission lines is necessary for the proper management to address power fluctuations. Furthermore, a proper renewable energy infrastructure reduces the reliance on fossil fuel to a great extent, allowing sustainable energy transmission worldwide, which, in turn, fuels market growth.
In June 2024, the planning approval of Central-West Orana Renewable Energy Zone (REZ) Transmission project by the Australian government marked the achievement of a huge milestone for the state of New South Wales (NSW) in renewable energy. It became the first REZ transmission project in Australia spanning over a distance of 240 km, aimed at strengthening the renewable energy infrastructure of the country. The project will facilitate the development of central transmission infrastructure to connect big-scale solar, wind, and energy storage projects, which will involve an overall investment worth USD 20 billion. Moreover, REZ has the capacity to transmit at least 4.5 gigawatts (GW) of electricity to power 1.8 million homes, thus promoting a clean energy transition.
Government Initiatives to Act as a Market Growth Catalyst
Government initiatives play a major role in the growth of the market by enhancing grid resilience, reducing transmission losses, and stimulating economic growth through attracting investments. Additionally, supportive government policies drive innovation and technological advancements, thereby ensuring transmission systems to meet the requirements of future energy demands. Governments can pave the way for a greener energy future that benefits the economy and the environment by prioritizing sustainability and efficiency.
In October 2024, the U.S. Department of Energy (DOE) announced a hefty investment of nearly USD 1.5 billion to extend its support to 4 large-scale power grid projects, namely the Smart Grid Investment Grant Program, Pacific Northwest Smart Grid Demonstration Project, Grid Modernization Initiative, and Energy Storage Demonstration Project. The main goal of the funding is to facilitate the electricity transmission infrastructure of the United States by ensuring proper renewable energy supply and improving grid reliability. Moreover, the initiative aims to strengthen the American power supply chain, ultimately leading to a more sustainable energy future.
<h2>Rise in Demand for Overhead Transmission Lines is Fostering Market Growth</h2>
Overhead lines are a cost-effective means of constructing a power transmission network which could extend over long distances. The overhead lines allow power utilities to interconnect far-flung renewable resources such as wind and solar energy farms to urban areas. Additionally, rapid technological advancements with time have enhanced the effectiveness and dependability of overhead transmission systems. Furthermore, the rise in need for enhanced grid resilience aids to the increasing preferences for overhead transmission infrastructure in modern power networks, thereby amplifying the market growth.
For instance, in June 2024, Northern Nevada (NV) Energy Inc., submitted a request to the Reno City Council to approve the construction of a new 11.9-mile long, 120 kV overhead transmission line located between Bordertown (Cold Springs Area) and California substations (Verdi area). The main aim of NV Energy&rsquo;s request was to add redundancy to the existing 120 kV system that supplies bulk power to the West Reno/Vardy area to meet the government regulatory standards.
<h2>Asia-Pacific to Dominate the Global Transmission Line Market Share</h2>
Asia Pacific emerged as a key region in the transmission line market due to the presence of countries such as China, India, Japan, Vietnam, and South Korea. The countries are involved in rapid&nbsp;urbanization, fulfilling the rising energy demand, and investing in major infrastructure, which drives the demand for transmission lines in the region. Moreover, the governments of the aforesaid countries are prioritizing the construction of power transmission networks to boost economic growth and increase energy availability. Furthermore, efforts to integrate renewable energy and modernize old grids for proper electricity distribution are driving market expansion, which, in turn, ensures Asia-Pacific&rsquo;s position as a market leader in the transmission line market.
For instance, in August 2024, Vietnam Electricity Corporation introduced the 500kV circuit-3 power transmission line, which links Quang Trach in the central province of Quang Binh and Pho Noi in the northern province of Hung Yen of Vietnam. These are crucial and urgent power transmission projects that are pivotal in increasing the power transmission capacity. The project will play a major role in improving the stability of the Vietnamese power system, enhancing the electricity supply, and decreasing the risk of overload and congestion in existing 500 kV lines, thereby ensuring national energy security.
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<h2>Future Market Scenario (2024 &ndash; 2031F)</h2>
<ul>
<li>The future transmission lines will require huge sources of renewable energy, including wind and solar power. A steep rise in renewable energy integrations in power transmission will make the environment sustainable. Moreover, a rise in the necessity for long-distance power transmission lines to connect the remote generation sites will increase the demand for efficient transmission lines in the future.</li>
<li>A shift towards decentralized energy systems using smart grid technology through real-time monitoring and control capabilities is expected to significantly enhance the reliability and efficiency of the grid, which will drive market growth in the future.</li>
<li>The developing transmission infrastructure will require massive investments in refurbishments and expansion to meet the growing global energy demand. The governments and private sector will jointly carry out proper funding and conduction of new transmission projects, which will result in adequate electrical energy delivery while supporting economic growth.</li>
<li>Furthermore, a rise in expenditures towards research and development (R&amp;D) activities is expected to lead to the advent of highly advanced power transmission lines, which, in turn, will cater to extensive opportunities for market growth over the forecast years.</li>
</ul>
Report Scope
&ldquo;Transmission Line Market Assessment, Opportunities and Forecast, 2017-2031F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global transmission line market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
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Report Attribute
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Details
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Base Year of the Analysis
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2023
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Historical Period
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2017-2022
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Forecast Period
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2024-2031
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Projected Growth Rate
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CAGR of 5.52% between 2024 and 2031
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Revenue Forecast in 2031
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USD 161.17 billion
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Segments Covered
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Type, Voltage Range, Application, End-user
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Regions Covered
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North America, Europe, South America, Asia-Pacific, Middle East and Africa
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Key Companies Profile
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Hitachi Energy Ltd., Sumitomo Electric Industries, Ltd., Houston Wire &amp; Cable Company, Prysmian S.p.A., ABB Ltd., Nexans S.A., MYR Group Inc., Electronics Research, Inc., Valard Construction Ltd., Salasar Techno Engineering Ltd.
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Customization Scope
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15% free report customization with purchase
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Pricing and Purchase Options
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Avail the customized purchase options to fulfill your precise research needs
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Delivery Format
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PDF and Excel through email (subject to the license purchased)
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In the report,&nbsp;global transmission line market&nbsp;has been segmented into the following categories:&nbsp;
<ul>
<li>By Type
<ul>
<li>Overhead Transmission Lines</li>
<li>Underground Transmission Lines</li>
<li>Submarine Transmission Lines</li>
</ul>
</li>
<li>By Voltage Range
<ul>
<li>Low</li>
<li>Medium</li>
<li>High</li>
<li>Extra-High</li>
<li>Ultra-High</li>
</ul>
</li>
<li>By Application
<ul>
<li>Electricity Transmission</li>
<li>Renewable Energy Integration</li>
<li>Smart Grid Infrastructure</li>
</ul>
</li>
<li>By End-user
<ul>
<li>Telecommunication</li>
<li>Transportation</li>
<li>Utilities</li>
<li>Industrial and Commercial</li>
<li>Others</li>
</ul>
</li>
<li>By Region
<ul>
<li>North America</li>
<li>Europe</li>
<li>Asia-Pacific</li>
<li>South America</li>
<li>Middle East and Africa</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
The market participants in transmission lines are facing fierce competition to gain a competitive edge. Companies are investing a hefty sum towards the technological advancements of transmission lines and forming strategic alliances to properly exploit networks and cost-cutting measures. The competitive environment fosters ongoing enhancement and innovation, enabling firms to more effectively address the increasing demand for sustainable energy solutions while optimizing the use of transmission lines.
In March 2024, Hitachi Energy Ltd. partnered with Grid United to accelerate the deployment of HVDC technology for transmission projects with the aim of strengthening the United States electric grid. The collaboration is focused on creating innovative HVDC systems, which improve the efficiency and reliability of the electric grid. The partnership aims to satisfy the growing demand for a strong power infrastructure while improving the overall resilience of the energy network by employing innovative technologies.
Key Players Operating in the Global Transmission Line Market are:
<ul>
<li>Hitachi Energy Ltd.</li>
<li>Sumitomo Electric Industries, Ltd.</li>
<li>Houston Wire &amp; Cable Company</li>
<li>Prysmian S.p.A.</li>
<li>ABB Ltd.</li>
<li>Nexans S.A.</li>
<li>MYR Group Inc.</li>
<li>Electronics Research, Inc.</li>
<li>Valard Construction Ltd.</li>
<li>Salasar Techno Engineering Ltd.</li>
</ul>
Markets and Data&rsquo;s reports answer the following questions:
<ul>
<li>What is the current and future market size of the product/service in question globally or specific to different countries?</li>
<li>How are the markets divided into different product/service segments and the market size and growth of each segment?</li>
<li>What is the market potential of different product segments and their investment case?</li>
<li>How are the markets predicted to develop in the future and what factors will drive or inhibit growth?</li>
<li>What is the business environment and regulatory landscape specific to the product/service?</li>
</ul>
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Global Transmission Line Market Assessment, Opportunities and Forecast, 2017-2031F

The global transmission line market is likely to experience a substantial growth due to rise in demand for overhead transmission lines, a continuous need for a strong power transmission infrastructure, and increase in investments for transmission line set up by the government and private firms in developing countries.

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