US Power Transmission Steel Poles Market is expected to reach US$ 758.32 million by 2030
Emphasis on Eco-Friendly and Sustainable Technologies in Aqua Farming to Provide Growth Opportunities For US Power Transmission Steel Poles Market Growth During 2023–2030
According to a new market study on "US Power Transmission Steel Poles Market Forecast to 2030 – COVID-19 Impact and Regional Analysis – by Pole Size and Application," the US power transmission steel poles market is expected to grow from US$ 422.65 million in 2022 to US$ 758.32 million by 2030; it is estimated to register a CAGR of 7.9% from 2023 to 2030. The report provides trends prevailing in the market, and drivers and restraints impacting the US Power Transmission Steel Poles market size.
There is a rising energy demand in the US due to increasing industrialization and urbanization. According to the Annual Energy Outlook 2023 by the US Energy Information Administration, the total energy consumption is expected to rise by 0%–15% across all sectors, including industrial, transportation, residential, and commercial, in the US from 2022 to 2050. These growing sectors boost the need for electrical infrastructures. They also need a reliable power supply, contributing to the demand for transmission steel poles to transmit electricity from power generation sources to the industrial and urban areas. Thus, the rising demand for electricity due to the expansion of these sectors is fueling the US power transmission steel poles market size.
US Power Transmission Steel Poles Market Revenue and Forecast to 2030 (US$ Million)
According to Annual Energy Outlook 2023, growing energy consumption and declining costs for zero-carbon generation technologies lead to the availability of inexpensive electricity, driving the electrification demand in the end-use sectors such as residential, commercial, and industrial. In addition, the upsurge in the adoption of electric vehicles and opening of new manufacturing plants and charging stations boost the infrastructure developments in the US transportation sector, which needs electricity. Thus, rising demand for electricity is contributing to the US power transmission steel poles market growth.
Valmont Industries Inc, Weatherspoon & Williams LLC, Sabre Industries Inc, Browning Enterprise Inc, Nello Corp, SAE Towers Holdings LLC, Metalpol SA de CV, Central Steel Service Inc, Nova Pole International Inc, Nucor Corp, Meyer Utility Structures are among the key US Power Transmission Steel Poles Market players profiled in the research study. The mentioned market players adopt organic growth strategies such as product launches and expansions to sustain their position in the US Power Transmission Steel Poles market.
The US power transmission steel poles market is segmented on the basis of pole size and current. Based on pole size, the market is segmented into below 40ft, 40 to 70ft, and above 70ft. Based on application, the US power transmission steel poles market is segmented into electricity transmission and distribution, telecommunication, street lighting, heavy power lines, sub transmission lines, and others. The US Power Transmission Steel Poles market is anticipated to grow at significant CAGR during the forecast period.
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