PORTLAND, Ore., March 30, 2020 (GLOBE NEWSWIRE) -- According to the report, the global utility poles industry was pegged at $45.6 billion in 2018 and is projected to reach $58.8 billion by 2026, registering a CAGR of 3.2% from 2019 to 2026. The report provides an extensive analysis of the market dynamics including drivers & restraints, major winning strategies, market size & projections, competitive landscape, and major segments.
Rise in the global energy consumption, increase in adoption in the telecommunication industry, and endorsement of steel's material profile as a green material have propelled the growth of the global utility poles market. However, surge in trend for underground wire or cables network and regulations against deforestation hamper the market growth. On the contrary, advent of composites in the utility sector is expected to offer multiple opportunities in the near future.
Based on product, the market is bifurcated into transmission pole and distribution pole. The distribution pole segment held the largest share in 2018, contributing to more than three-fifths of the global utility poles market. However, the transmission pole segment is expected to register the fastest CAGR of 3.6% from 2019 to 2026.
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Based on material, the market is segmented into concrete pole, steel pole, wooden pole, and composite pole. The concrete pole segment is expected to manifest the fastest CAGR of 3.7% from 2019 to 2026. However, the wooden pole segment dominated the global utility poles market in 2018, accounting for nearly half of the market.
Based on region, the market is analyzed across Asia-Pacific, North America, LAMEA, and Europe. The global utility poles market across Asia-Pacific held the largest share in 2018, contributing to nearly two-fifths of the market. Moreover, the region is expected to register the fastest CAGR of 3.6% through 2026.
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Key market players analyzed in the research include Valmont Industries Inc., El Sewedy Electric Company, Skipper Ltd., Nippon Concrete Industries Co. Ltd., RS Technologies Inc., Stella-Jones, Hill & Smith Holdings PLC, Pelco products Inc., Omega Factory.
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