The transmission and tower market will grow, but maybe not fast enough in USA
- Dec 4, 2020 5:40 pm GMT
According to a report put together by Technavio, titled Global Power Transmission Lines and Towers Market 2020-2024, the transmission and towers market will continue to grow slower than previously expected in the very near future due to COVID, but will bounce back in late 2021 or early 2022. The market is expected to post a year-over-year growth rate of just 2.42 percent in 2020.
Unsurprisingly, the greatest market growth is expected to come out of the APAC region. As I pointed out in a post a couple weeks back: “Since 2014, China has built 260 gigawatts of transmission capacity that has come on line or will in the next few years. In that same time frame, the United States has added just 3 gigawatts.”
As appeals for accelerated carbon cutting become louder and louder, I expect to see more transmission projects come into the fray in North America. Right now, projects are difficult to get okayed because of various factors: regulations, nimbyism, and partisanship. However, if my mainstream news feed is any indication, opinion makers are starting to realize the importance of transmission and are making noise about it. In a democracy, noise usually leads to change. Fingers crossed.
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