The Covid-19 pandemic is predicted to have a negative impact in the growth of the global utlity poles market in the forecast period. Growing energy consumption is predicted to be the major driving factor for the market in the forecast period. Electricity Transmission and Distribution segment is predicted to be the most lucarative in the forecast period. Between 40ft and 70ft type segment is predicted to have the highest market share in the forecast period. Asia-Pacific region market is predicted to have the maximum growth rate in the forecast period.
The emergence of coronavirus pandemic has negatively impacted the global utility poles market growth. Though the markets across the world, are shut down in order to minimize the effect of the pandemic, the utility poles market is hampered for a short span of time. The market is predicted to recover by Q3/Q4 of 2022. The recovery of the market is expected to grow as the telecom industry booming day by day as the utility poles are used and approval of steel material profile as green material boost the market in the forecast period. Moreover, government strict rules and regulation for underground wires and cables, rules against deforestation is predicted to hamper the market in the forecast period. The extension of various underground lines is also predicted to create more investment opportunity for the market in the forecast period.
As per a new report published by Research Dive, the global utility poles market is set to generate a revenue of $ 55,360.7 million by 2026, at a CAGR of 2.7% during the period of forecast.
The segmentation of the market has been done based on application, pole size and region. The report provides in-depth insights on drivers, vital segments, opportunities, restraints, and key players of the market.
Factors Affecting the Market Growth
As per our analysts, increasing energy consumption globally is predicted to drive the utility poles market in the forecast period. Moreover, growing undergoing connection is predicted to hamper the market growth in the forecast period.
Between 40ft and 70ft segment will have a Substantial Growth during the Forecast Period
Based on the Pole size, the global market for utility poles is classified into below 40ft, between 40ft and 70ft and above 70ft. The between 40ft and 70ft segment was valued at $ 18,282.9 million in revenue in 2026 and is anticipated to grow at 2.8% CAGR. The growth of the segment is predicted to as it is most widely used pole type in most of the end use industry for various application.
Electricity Transmission and Distribution Is Predicted To Be the Most Lucrative Segment
Based on the application, the global market for utility poles is classified into electricity transmission and distribution, telecommunication, street lighting, heavy power lines, sub transmission lines and others. The market size for the electricity transmission and distribution segment was valued at $30,665.6 million in 2018 and is predicted to grow at a CAGR of 2.5% in the forecast period. The consumption of utility poles for electricity transmission and distribution is on a faster pace which will boost the segment in the forecast period.
Regional Breakdown of the Market
Based on the region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. The Asia-Pacific utility poles market was valued at $17,428.3 million in 2018 and is anticipated to rise at 3.1% CAGR during the projected period. Massive population and massive investment by major companies in the region is predicted to boost the region market in the forecast period.
Top Companies Leading the Market
The major key players in the utility pole market players include El Sewedy Electric Company, Hill & Smith Holdings Plc, KEC International, Valmont Industries Inc., Skipper Ltd., Omega Factory, Nippon Concrete Industries Co. Ltd., Pelco products Inc., Stella-Jones, RS Technologies Inc. and FUCHS Europoles GmbH.
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