SAARC Transmission Lines Market Size - By Voltage (132 kV to 220 kV, 221 kV to 660 kV, > 660 kV), By Conductor (Conventional, High Temperature) & Forecast, 2023 - 2032

SAARC Transmission Lines Market Size - By Voltage (132 kV to 220 kV, 221 kV to 660 kV, > 660 kV), By Conductor (Conventional, High Temperature) & Forecast, 2023 - 2032

SAARC Transmission Lines Market size is poised to expand at over 7.5% CAGR from 2023 to 2032 driven by the increasing government investments for overall infrastructure development. The rising focus of SAARC nations on enhancing their overall infrastructure is spurring significant investments directed towards the modernization and expansion of power transmission networks. In addition, the need for reliable and efficient energy transfer across borders and regions is boosting the demand for advanced transmission lines.

Furthermore, several governments are committed towards enhancing regional connectivity and economic collaboration to accelerate the infrastructure projects. For instance, in July 2023, KEC International Ltd. received its first international order for a signaling and telecommunication project in the SAARC area. The push for renewable energy sources is also necessitating the development of transmission infrastructure to connect renewable energy-rich areas, augmenting the industry outlook.

The SAARC transmission lines market is segmented into voltage, conductor, and country.

Based on voltage, the industry value from the >660 kV segment is set to gain considerable traction from 2023-2032 owing to the ongoing shift towards higher voltage capacity for enabling more efficient and long-distance electricity transmission. The 660 kV lines are also preferred for minimizing transmission losses and accommodating the rising energy requirements of growing urban centers. With multiple countries investing in modernizing their power infrastructure, the segment is likely to generate substantial revenue.

In terms of conductor, the SAARC transmission lines market size from the conventional segment may record robust growth between 2023 and 2032. Traditional conductors, such as aluminum and steel are witnessing higher adoption due to their proven reliability and cost-effectiveness. Due to SAARC nations expanding their power transmission networks, the demand for conventional conductors is persistent in the face of technological advancements. Additionally, the increasing focus on immediate infrastructure development to meet the escalating energy demands across the region will support the segment growth.

With respect to country, Bangladesh SAARC transmission lines industry is poised to exhibit a robust growth rate through 2032 owing to the increasing energy demand driven by strong economic development and urbanization. Government initiatives to enhance regional connectivity and cross-border power trade are also contributing to the market growth. For instance, in February 2022, Bangladesh announced plans to open a new route for importing power from Nepal, as the Himalayan nation agreed to build a cross-border electrical transmission connection with West Bengal. Moreover, the commitment to renewable energy sources is further necessitating the development of robust transmission lines, thereby propelling the regional market expansion.