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The North America transmission infrastructure market is experiencing notable trends, driven by various factors shaping the energy landscape of the region. One significant trend is the increasing focus on grid modernization and expansion to accommodate the growing demand for electricity, driven by population growth, urbanization, and industrial development. This has led to a surge in investments in transmission infrastructure projects aimed at enhancing reliability, efficiency, and resilience of the grid.
Another prominent trend is the transition towards renewable energy sources such as wind and solar power. With the declining costs of renewable energy technologies and the increasing awareness of environmental sustainability, there has been a significant shift towards integrating more renewables into the energy mix. This transition necessitates upgrades and expansion of transmission infrastructure to connect remote renewable energy resources to population centers and load centers.
Furthermore, there is a growing emphasis on enhancing grid flexibility and enabling the integration of distributed energy resources (DERs) such as rooftop solar panels, energy storage systems, and electric vehicles. These DERs are transforming the traditional one-way flow of electricity into a dynamic, decentralized system, requiring upgrades in transmission infrastructure to accommodate bidirectional power flows and optimize grid operations.
In addition to technological advancements, regulatory policies and market dynamics play a crucial role in shaping the transmission infrastructure market trends in North America. Regulatory reforms aimed at promoting competition, incentivizing investment in infrastructure upgrades, and facilitating the integration of renewables are driving market growth. Moreover, market liberalization and the emergence of competitive wholesale electricity markets are fostering greater private sector participation and innovation in transmission infrastructure development.
The increasing frequency and severity of extreme weather events, such as hurricanes, wildfires, and ice storms, are also influencing market trends in the transmission infrastructure sector. These events pose significant risks to the reliability and resilience of the grid, necessitating investments in grid hardening, resilience measures, and advanced technologies to mitigate potential disruptions and ensure uninterrupted power supply.
Moreover, the advent of digitalization, data analytics, and advanced grid technologies is revolutionizing the way transmission infrastructure is planned, operated, and maintained. Smart grid technologies, including advanced sensors, automation, and predictive analytics, are enabling utilities to optimize asset performance, improve grid reliability, and enhance situational awareness.
Furthermore, the electrification of transportation and the growing adoption of electric vehicles (EVs) are driving the need for expanded transmission infrastructure to support increased electricity demand from charging stations and EV fleets. This trend presents both challenges and opportunities for grid operators and infrastructure developers to plan and invest in resilient and scalable transmission solutions to support the electrification of transportation.
Overall, the North America transmission infrastructure market is undergoing significant transformation driven by technological innovation, regulatory reforms, market dynamics, and evolving energy needs. As the region continues to transition towards a cleaner, more sustainable energy future, investments in transmission infrastructure will play a critical role in ensuring the reliability, efficiency, and resilience of the grid while facilitating the integration of renewable energy resources and enabling the electrification of transportation.
North America Transmission Infrastructure Market Highlights:
North America Transmission Infrastructure Market Overview:
North America Transmission Infrastructure Market Size was valued at USD 13.566 Billion in 2022. The North America transmission infrastructure market industry is projected to grow USD 21.99 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.00% during the forecast period (2023 - 2032). The key market driver of the North Americaan transmission infrastructure industry is the continent's growing population and rising electricity demand, which is a result of the growing need for efficient and dependable power distribution.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
North America Transmission Infrastructure Market Trends
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Growing demand for reliable electricity is driving the market growth
One major factor propelling the transmission infrastructure market in North America is the increasing need for reliable electricity. Maintaining a steady and consistent power supply is crucial as societies grow more reliant on energy for everything from industrial operations to home consumption. The increasing tendency of urbanization leads to denser populations and commercial establishments in urban areas, hence increasing the need for energy. The infrastructure of contemporary cities, including the systems for communication, healthcare, and transportation, depends on steady electricity supplies. Furthermore, North America's growing need for dependable power is intimately related to the continent's efforts to become more sustainable and switch to greener energy sources. An efficient and dependable transmission system is essential when nations strive toward increasingly ambitious renewable energy goals, such as higher wind and solar power output. Since renewable energy sources are frequently found in isolated locations or offshore, effective transmission networks are needed to get the power they produce to populated regions.
The transmission infrastructure industry is driven by government policies, especially those that support sustainable energy and grid expansion. To encourage the use of renewable energy sources, governments frequently provide tax breaks, subsidies, or feed-in tariffs. Private investment in wind, solar, and other renewable energy projects is encouraged by these incentives. In order to move electricity from these sometimes isolated regions to areas with high demand, the integration of renewable sources into the energy mix requires a strong transmission system. Moreover, to improve the electrical grid's resilience, efficiency, and dependability, several countries enact modernization-related measures. This calls for the implementation of automation, sophisticated monitoring systems, and smart grid technology. Modernizing the grid makes transmission infrastructure better overall and increases its ability to adjust to changing energy conditions. Thus, driving the North America transmission infrastructure market revenue.
North America Transmission Infrastructure Market Segment Insights:
Transmission Infrastructure Voltage Insights
The North America Transmission Infrastructure market segmentation, based on voltage includes 132 kV to 220 kV, 221 kV to 660 kV, and > 660 kV. The 132 kV to 220 kV segment dominated the market. In order to efficiently carry power over greater distances, higher voltage transmission lines must be developed in conjunction with the integration of renewable energy sources and the growing demand for electricity. Transmission of higher power capacity is made possible by the voltage range of 132 kV to 220 kV, which promotes the growth of renewable energy projects and makes system optimization easier.
Figure 1: North America Transmission Infrastructure Market by Voltage, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Transmission Infrastructure Conductor Insights
The North America Transmission Infrastructure market segmentation, based on conductor, includes Conventional, High Temperature, and Others. The high temperature category generated the most income. High-temperature transmission infrastructure is becoming more prevalent in the market as a result of the continent's changing energy landscape, which calls for increased capacity, decreased losses, and higher efficiency. Additionally, improvements that prioritize lowering transmission losses, raising grid resilience, and boosting overall reliability will gain a significant portion of the North America transmission infrastructure market in the area.
Transmission Infrastructure Country Insights
The transmission infrastructure market in North America is influenced by several factors. These include the need to update outdated infrastructure to improve grid resilience and efficiency, the growing need for dependable electricity, the incorporation of renewable energy sources, and technology breakthroughs. Furthermore, government initiatives like grid development and renewable energy subsidies are vital in propelling investments and progress in the transmission infrastructure market. In addition, there is a growing need for strong transmission networks due to the electrification of several industries and sectors, including transportation. In order to create a more resilient and balanced power system, grid expansion and interconnection initiatives seek to overcome regional differences in energy supply and demand. Innovation and investment in the North American transmission infrastructure industry are also fueled by the shift to smart grids and the uptake of digital technology for monitoring and control.
Figure 2: North America Transmission Infrastructure Market Share By Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
North America Transmission Infrastructure Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the transmission infrastructure market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, transmission infrastructure industry must offer cost-effective items.
Major players in the North America transmission infrastructure market are attempting to increase market demand by investing in research and development operations includes Nexans, Siemens Energy, ABB, General Cable, Prysmian Group, LS Cable & System, KE International, Kalpataru Power Transmission Limited, East African Cables, and Midal Cables Ltd.
Key Companies in the transmission infrastructure market include
- Nexans
- Siemens Energy
- ABB
- General Cable
- Prysmian Group
- LS Cable & System
- KE International
- Kalpataru Power Transmission Limited
- East African Cables
- Midal Cables Ltd.
North America Transmission Infrastructure Market Segmentation:
Transmission Infrastructure Voltage Outlook
- 132 kV to 220 kV
- 221 kV to 660 kV
- > 660 kV
Transmission Infrastructure Conductor Outlook
- Conventional
- High Temperature
- Others
Transmission Infrastructure Regional Outlook
- North America
- US
- Canada
- Mexico
- Rest of North America
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