PUBLISHER: Allied Market Research | PRODUCT CODE: 1472201
PUBLISHER: Allied Market Research | PRODUCT CODE: 1472201
Introduction
The global utility poles market was valued at $51.5 billion in 2022, and is projected to reach $67.0 billion by 2032, growing at a CAGR of 2.7% from 2023 to 2032.
Utility poles are also called power poles or electricity poles, which support wires and electric cables that carry electricity from power companies to end users. These support three facilities including electric power, cable television, and telephone. Material used in the production of utility pole is wood, concrete, composite, and steel, and depending on the use of the material, life span of typical utility pole varies.
Market Dynamics
of the factors that drive the utility poles market growth include growing global energy consumption, expansion of the global telecommunication industry, and approval of steel as a green material. Utility poles are mainly employed to support and connect electric wires that carry electric current. Therefore, energy transmission and energy distribution are the two major applications of the utility poles where they play a significant role in supporting utility infrastructure and fulfilling energy needs as per the demand.
On the other hand, the rise in the trend for underground cables and wiring networks limits the growth of the global market. In addition, strict regulations against deforestation are anticipated to challenge the global market growth during the forecast period.
Nevertheless, the emergence of composite utility poles that exhibit superior properties and are cost-effective is projected to offer profitable growth opportunities in the next five years. Acceptance of composite material in the utility industry is the recently observed utility poles market trend across the globe.
Segments Overview
The global utility poles market scope is segmented based on type, material, pole size, application, and region. By type, the market is divided into transmission poles and distribution poles. On the basis of the material, it is segmented into wood, steel, composites, and concrete. Depending on pole size, the market is categorized into below 40ft, between 40 & 70ft, and Above 70ft. On the basis of application, the market is categorized into electric transmission & distribution, telecommunication, street lighting, heavy power lines, sub-transmission lines, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The distribution poles segment held the highest market share in 2022, accounting for over three-fifths of global utility poles revenue. The transmission poles segment is projected to grow at a CAGR of 2.9% from 2023 to 2032. The demand for transmission poles is increasing due to factors like increasing energy consumption, renewable energy expansion, infrastructure development, grid modernization, government initiatives, grid interconnectivity, and technological advancements. Transmission poles are crucial for efficient electricity transmission over long distances.
The wood segment held the highest market share in 2022, accounting for nearly half of global utility poles revenue. Steel is projected to grow at a CAGR of 2.7% from 2023 to 2032 due to its durability, strength, and resilience. Steel poles are suitable for supporting heavy equipment and power lines, especially in extreme weather conditions, and are expected to maintain its leadership status throughout the forecast period.
In 2022, the 40-70ft segment held the highest market share in the global utility poles market, accounting for over two-fifths of revenue. This trend is expected to continue, with above 70ft projected CAGR of 2.8% from 2023 to 2032. Above 70ft utility poles are sought after for their efficiency in high voltage transmission, urbanization, infrastructure development, renewable energy integration, grid resilience, load-bearing capacity, long-term investment, and global connectivity, making them a sustainable and cost-effective solution for future power demand increases.
The energy transmission and distribution segment held the highest market share in 2022, accounting for over two-thirds of global utility poles revenue. The street lighting segment is projected to grow at a CAGR of 2.9% from 2023 to 2032. This growth is driven by factors like urbanization, population growth, road safety, city beautification, crime deterrence, energy efficiency, smart city initiatives, infrastructure upgrades, and government regulations. Utility poles enhance visibility, traffic management, and security in public spaces, and support the installation of energy-efficient lighting technologies like LED, contributing to energy savings and reduced environmental impact.
The Asia-Pacific region holds the highest market share in the global utility poles market, accounting for over two-fifths of revenue in 2022. This market is expected to grow at a CAGR of 3.0% from 2023 to 2032. The region's demand for utility poles is driven by urbanization, infrastructure development, population growth, government initiatives, renewable energy integration, natural disasters, electrification of rural areas, and technological advancements.
The major players operating in the global utility poles market are Stella-jones Inc., El Sewedy Electric Company, Fuchs Europoles GmbH, RS Technologies Inc., Omega Factory, Nippon Concrete Industries Co., Ltd., Hill & Smith Holdings Plc, Valmont Industries Inc., Skipper Ltd., Pelco Products Inc.
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