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As per the research study, the global utility poles market is estimated to grow at a CAGR of 3.2% during the forecast period 2019-2026. The global utility poles market was valued $45.6 billion in the year 2018 and is anticipated to reach $58.8 billion by the end of the year 2026.
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The global utility poles market is driven by major factors such as rise in adoption of utility poles in the telecommunication industry, growth in the global energy consumption and approval of material profile of steel as a green material. However, regulations against deforestation and increase in trend for cables and underground wire network will hamper the market growth in the future period.
Segmentation Overview of the Global Utility Poles Market
The concrete pole segment is growing at a CAGR of 3.7% during the forecast period 2019-2026
The material segment of the global utility poles market is sub-segmented into wood, steel, composites and concrete. The concrete pole segment is estimated to grow at a CAGR of 3.7% during the forecast period 2019-2026. The segment growth is attributed to advent of composite material in the utility sector that offers longer lifespan over other material types. However, the wood segment dominated global market in the year 2018 by acquiring ~50% of the segment share. The segment dominance is attributed to growth in broadband users and increase in energy consumption.
The distribution pole segment contributed ~60% of the segment share in the global utility poles market
The distribution pole segment dominated the type segment with ~60% of the segment share in the year 2018. The segment dominance is attributed to growth in demand of energy across the globe. Whereas, the other segment i.e. the transmission pole segment is estimated to grow at the fastest CAGR of 3.6% compared to distribution pole segment during the forecast period. The segment growth is attributed to necessity for safe electricity transmission and increase in demand for power supply.
The pole size segment and application are the other major market segments with various sub-segments. Heavy power lines, sub transmission lines, street lighting, telecommunication, electricity transmission & distribution and others are sub-segments under the application segment.
Geographical Overview of the Global Utility Poles Market
The global utility poles market is segmented on the basis of various geographical regions, such as:
As per the market study, the Asia Pacific utility poles market is expected to become lucrative regional segment followed by North America market. The APAC market held the largest market share in the global marketplace by contributing ~40% of the market share. Also, the APAC region accounted to grow at a CAGR of 3.6% through 2026. The regional growth is attributed to increase in focus on technological advancements, increase in demand for telecom service and presence of several new players in the region. The research study also offers detailed analysis of the utility poles market across other regions such as Europe and LAMEA.
Market Competition Insights
RS Technologies Inc., Omega Factory, Pelco products Inc., Hill & Smith Holdings PLC, Stella-Jones, Nippon Concrete Industries Co. Ltd., El Sewedy Electric Company, Valmont Industries Inc. and Skipper Ltd. are some of the major key players included in the research study of the global utility poles market.
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