GCC Steel Utility Poles Market Size, Share & Trends Analysis Report By Application (Electricity Transmission & Distribution, Lighting, Telecommunications), By Pole Size (Less Than 6 Meter, 6 to 15 Meter), By Country, And Segment Forecasts, 2023 - 2030

GCC Steel Utility Poles Market Size, Share & Trends Analysis Report By Application (Electricity Transmission & Distribution, Lighting, Telecommunications), By Pole Size (Less Than 6 Meter, 6 to 15 Meter), By Country, And Segment Forecasts, 2023 - 2030

GCC Steel Utility Poles Market Growth & Trends

The GCC steel utility poles market size was valued at USD 364.6 million in 2022 and is expected to grow at a CAGR of 6.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing electrical energy consumption owing to the rising population, economic development, and urbanization in GCC countries is contributing to the growth. In addition, an increase in infrastructure investments attributing to smart city project initiatives is fueling the demand for lighting and energy transmission and distribution poles, creating a positive outlook for the market.

In December 2022, the Electricity Interconnection Authority for Gulf Cooperation Council (GCC) commenced the execution of the Gulf electricity interconnection expansion project as a part of its Gulf link project. The project is aimed at enhancing the exchange and transfer of electrical energy among the GCC countries. Also, the project is intended to strengthen Kuwait’s electricity network to avoid power interruptions in the country and ensure the sustainability of electrical energy. Such projects create demand for steel utility poles in the GCC region.

Countries including Qatar, the UAE, and Saudi Arabia are seeing rapid growth in installing street lighting and decorative lighting across public spaces such as malls and parks. For instance, in February 2021, the Sharjah Electricity, Water, and Gas Authority (SEWA) installed 472 lighting poles across the locations in Sharjah, including Suhaila Road, Al-Washa, Fali, and Mleiha.

The ongoing move toward green energy is observed in GCC countries due to an increasing need to augment the electricity generation capacity in the region. For instance, Qatar's government set a target to generate 20% of its power demand from renewable energy sources by 2030; while the UAE aims to generate 50% of its electricity from carbon-free sources by 2050.

In November 2022, the UAE signed an agreement with the U.S. to develop 100 GW of clean energy by 2035, mobilizing an investment of $100 billion. Increasing electricity generation capacity due to such integration of renewable energy is further anticipated to create lucrative growth opportunities for the market.

GCC Steel Utility Poles Market Report Highlights

• Lighting poles is likely to emerge as the fastest-growing segment and exhibit a CAGR of nearly 7.8% from 2023 to 2030 owing to the increasing redevelopment of existing roads, public areas, and tunnels, among others, and the introduction of smart lighting for enhanced convenience
• The demand for steel utility poles less than 6 M in height is expected to increase, growing at a CAGR of around 7% from 2023 to 2030 owing to the rising applications across the residential and urban areas, where smaller poles are needed to support streetlights, traffic signals, and signage
• Saudi Arabia dominated the market in 2022 and is expected to maintain its dominance throughout the forecast period owing to higher electricity consumption, smart city project initiatives, growing population, and burgeoning economy of the country

Please note The report will be delivered in 3-8 business days upon order notification.