The global transmission towers market size is slated to record significant escalation up to 2028 backed by the growing demand for electricity in key regions globally. Additionally, rapid urbanization has increased power requirements across various facilities, which is likely to further boost industry growth through the forecast timespan.

Notably, China consumes more than 6.3 trillion kilowatts of energy per hour yearly while the United States makes use of over 3.9 trillion kWh energy annually. Thus, soaring demand for electricity has played a vital role in product adoption in recent years.

Moreover, the emerging trend of smart grids worldwide is also fostering the demand for transmission towers. Burgeoning initiatives and measures by different authoritative bodies in the smart grid industry have been favorable for transmission towers market progress. For instance, in April 2021, the ASEAN Center of Energy, an ASEAN organization operating in the energy sector, and the Indian Smart Grid Forum, a government-backed firm focused on the advancement of smart grid technologies, inked an MoU for cooperation for decarbonization initiatives in ASEAN member states in several areas, including smart grids, electric mobility, and renewable energy development.

Furthermore, companies have been implementing effective strategic initiatives to fortify their business standing, which has positively influenced product outlook. To cite an instance, in August 2021, Tata Power, an electric power distribution expert, announced that it had designed and proposed a novel high-tension transmission tower to expedite the construction of the Mumbai Metro. With this move, the company intended to accelerate the development of the public transport infrastructure while providing uninterrupted, reliable, and quality power supply.

The overall transmission towers industry has been divided in terms of voltage, structure, and region. In the regional landscape, the Europe transmission towers market share is primed to expand at an appreciable pace over the analysis timeline. This growth can be ascribed to the paradigm shift toward the expansion of existing grid networks as well as the construction of new networks. In addition, surging consumer inclination for the integration of technologies like artificial intelligence (AI) systems in the grid infrastructure is projected to further stimulate regional market progression.

On the other hand, the Latin America transmission towers market is anticipated to grow at a robust pace through the forecast period to attain a sizable share in the market by the end of 2028. An upsurge in investments in cross-border distribution networks is estimated to bolster product demand in the region in the coming years. Furthermore, escalating integration of renewable energy networks is also foreseen to supplement the growth of the LATAM market.