“As per a report by Global Market Insights Inc., U.S. electric towers market size will grow with a CAGR of over 6% through 2028.”

Ongoing growth of the interstate T&D network, in conjunction with the retrofitting and rebuilding of existing electric infrastructure, will power U.S. electric towers & poles market forecast through 2028. According to a Princeton University study, the United States will need to extend its power transmission infrastructure by 60% through 2030, and possibly quadruple it by 2050, to meet its decarbonization goals.

Electrifying buildings and transportation are critical steps that must be taken through the next few years to provide the groundwork for any further approaches. As per the study, it took 150 years to establish the existing electrical grid. In order to achieve net-zero emissions by 2050, the region must build a robust transmission network again in the next 15 years, followed by further efforts in the next 15 years. Seizing the opportunity, leading electric towers and poles manufacturers are leveraging this trend with considerable investments in technologically advanced grid establishments.

Request for a sample copy of this research report@ https://www.decresearch.com/request-sample/detail/5181

The following three trends are likely to boost U.S. electric towers & poles market forecast over 2022-2028:

• Influx of public investments in deployment of new electricity transmission networks

According to geospatial.blogs.com, the electricity generation capacity of the United States constitutes of 10,000 power plants, which excludes small-scale wind farms, residential solar panels.  Approximately 600,000 circuit miles of transmission lines, 240,000 of which are high-voltage, transport power from power plants to distribution networks. Since these power plants are often located at a distance from consumers, the use of extensive networks of transmission power lines is essential to distribute electricity efficiently, and the government has been contributing significantly to this effort.

As per U.S. Energy Information Administration (EIA) statistics, annual investment in regional electric transmission system climbed from $9.1 billion in 2000 to $40.0 billion in 2019. This comprises both new transmission infrastructure investment and maintenance of existing transmission lines. Similarly, according to statistics from Federal Energy Regulatory Commission (FERC), major utilities spent $23.5 billion on new electrical transmission infrastructure in 2019. Station equipment, poles, and overhead electricity lines have garnered a vast number of new investments.

Request for customization@ https://www.decresearch.com/roc/5181

• Role of electric towers in satisfying industrial demands

Modern economies are becoming increasingly reliant on chip technologies that are powered by electricity. According to geostapial.blogs.com, ICT power usage might exceed 20% of overall demand by 2030, with data centers accounting for more than a third of that. The average cost of a data center outage is projected to be $8,851 for every minute the electrical grid is disturbed. These figures emphasize the dire need for a strong electric towers and poles layout across the region, which can support not just the demands of end-user industries, but also those which are inter-connected with them. Between 2022 and 2028, continuous high-capacity transmission line expansion as well as public investments in utilities, are likely to drive the U.S. electric towers & poles market trends.

• Recent developments by regional governments

In 2019, the Midcontinent Independent System Operator (MISO), which covers much of the Midwest and a portion of the Gulf Coast, activated more than $3 billion in transmission infrastructure projects, with more than $2 billion in 2020. To increase grid dependability and meet load growth, these projects restored and rebuilt outdated infrastructure and installed new power lines, towers, and substations. MYRGROUPINC, Kiewit Corporation, Burns & McDonnell, PLH Group, Power Line Services, Inc., and MMR Group are counted amongst the top companies operating in U.S. electric towers & poles industry.

About Us: –

DecResearch.com, powered by GMI, is an online aggregator of information on market research reports. The website provides comprehensive information as well as a detailed ‘Table of Contents’ for reports being regularly published by GMI. Via this platform, users not only get to answers to their questions about these reports, they also have an additional avenue to talk to the sales and research teams of GMI to learn more about the topics of their interest.

Contact Us: –

DecResearch.com

Website: – https://www.decresearch.com

Email: [email protected]