U.S. Electric Towers and Poles Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

U.S. Electric Towers and Poles Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

U.S. Electric Towers and Poles Market will witness 5.4% CAGR over 2024-2032, largely due to increasing investments in renewable energy and the need for modernized grid infrastructure. As the country transitions towards cleaner energy sources, the demand for efficient transmission and distribution systems is expected to surge. According to the U.S. Energy Information Administration, renewable energy sources accounted for about 20% of U.S. electricity generation in 2022, and this share is expected to grow significantly. This shift is accompanied by significant government initiatives and funding aimed at enhancing the reliability and sustainability of the nation's power grid, further propelling market growth.

The overall U.S. Electric Towers and Poles Market is categorized based on Product, Voltage, and States.

The transmission towers segment will spearhead growth in the U.S. Electric Towers and Poles Market throughout 2024-2032. Transmission towers, integral to supporting high-voltage power lines, are increasingly vital as the U.S. upgrades its grid to accommodate renewable energy sources. These towers ensure the efficient and reliable transmission of electricity over long distances, which is crucial in connecting remote renewable energy plants to the grid. The surge in wind and solar power installations, alongside the aging infrastructure, necessitates substantial investment in new and replacement transmission towers, driving market expansion.

The > 11 kV - 33 kV voltage range will witness notable growth in the U.S. Electric Towers and Poles Market from 2024 to 2032. This voltage range is crucial for medium-scale distribution networks that connect substations to end-users. The increasing adoption of distributed energy resources (DERs) like rooftop solar panels and battery storage systems is driving the need for enhanced distribution networks that can efficiently manage variable energy flows. Investments in upgrading existing infrastructure and developing new networks to support DERs are expected to fuel demand for towers and poles within this voltage range.

New Mexico will exhibit impressive growth in the U.S. Electric Towers and Poles Market between 2024 and 2032, driven by its robust renewable energy sector. The state is a leading producer of wind and solar energy, necessitating substantial investment in transmission and distribution infrastructure to connect renewable energy sources to the grid. In addition, New Mexico's commitment to achieving carbon neutrality by 2045 and ongoing grid modernization efforts support market expansion. The state's favorable regulatory environment and government incentives further attract investments in electric towers and poles, solidifying its position as a key growth region.