Global Transmission Towers Market 7.99% CAGR to 2021
PUNE, India, October 17, 2017 /PRNewswire/ --
Global Transmission Towers Market 2017-2021 is Manufacturing & Construction report added on RnRMarketResearch.com. One trend in the market is transition to smart grid. Power generation is transitioning to low-carbon or no-carbon fuels. Therefore, utilities and energy companies are making efforts to accommodate these fuels by changing the functioning of grids and implementing new IT technology. The traditional power grid had linear power generation, a partial connection with its customers, and a one-way communication.
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The analysts forecast global transmission towers market to grow at a CAGR of 7.99% during the period 2017-2021. A transmission tower is the main supporting structure of overhead transmission lines. It is known by diverse names across the world. In Europe, transmission towers are better known as electricity pylon, while they are called hydro towers in Canada. Three disciplines of engineering are majorly involved in the design of a transmission tower, namely: Civil, Electrical, and Mechanical. It supports electrical wires that are heavy and are needed to be connected at a certain height above the ground. It is necessary that these towers are able to withstand natural calamities, such as storms.
According to the transmission towers market report, one driver in the market is need for flexible power systems and changing energy landscape. The demand for power has increased exponentially across the world. Furthermore, the growth in population and rise in the global economy are expected to drive this trend in the future as well. According to the World Bank, the world population is projected to increase from 7.5 billion in 2016 to 8.8 billion by 2035. At present, energy security is the national agenda for any country. From a power generation point of view, the International Energy Agency (IEA) estimates that the global generation of electricity from fossil fuels is expected to reach 61% by 2020.
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Further, the report states that one challenge in the transmission towers market is dependency on electrical equipment imports in emerging countries. India does not have sufficient capacity for manufacturing electrical equipment in large volumes. Hence, it is forced to import Chinese equipment, which come at a low cost. However, such devices pose a threat to the national security. As electrical distribution systems carry power to essential applications, such as telecommunication, water systems, and critical infrastructure, governments and military services adopting low-cost equipment could lead to the hacking of data and power disruption.
Main players in the global transmission towers market are Kalpataru Power Transmission Limited, KEC International, and Nanjing Daji Group. Other Prominent Vendors in the market are: Associated Power Structures, Aster, BS Group, Changshu Fengfan Power Equipment, EMC, Ganges Internationale, IVRCL, Jyoti Structures, Jyoti Americas, Karamtara Engineering, Shandong Dingchang Steel Tower, Skipper, TATA Projects, Union Metal, Weifang Chang'an Steel Tower Stock, Zamil Towers & Galvanizing, and Zhejiang Shengda Steel Tower.
Related report is Global Refrigerated Air Dryer Market (RAD) 2017-2021, the analysts forecast global refrigerated air dryer (RAD) market to grow at a CAGR of 6.90% during the period 2017-2021. This report covers the present scenario and the growth prospects of the global refrigerated air dryer (RAD) market for 2017-2021. To calculate the market size, the report considers the new installations/shipments/sales and excludes retrofit/replacement/spares/aftermarket/services market.
Main players in the Refrigerated Air Dryer Market (RAD): ANEST IWATA, Atlas Copco, Donaldson Company, Eaton Compressor, Ingersoll-Rand, Gardner Denver, HANGZHOU RISHENG DECONTAMINATION EQUIPMENT, BEKO TECHNOLOGIES, KAESER KOMPRESSOREN, SPX FLOW, Parker Hannifin, Chicago Pneumatic, Bossman Instruments Technology, SMC, MTA, Quincy Compressor, Schulz. Browse completes Refrigerated Air Dryer Market (RAD): report at http://www.rnrmarketresearch.com/global-refrigerated-air-dryer-rad-market-2017-2021-market-report.html
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