|By Business Wire||
|August 20, 2014 06:33 AM EDT||
Research and Markets (http://www.researchandmarkets.com/research/4979kb/global) has announced the addition of the "Global Transmission Tower Market 2014-2018" report to their offering.
The analysts forecast the Global Transmission Tower market will grow at a CAGR of 7.98 percent over the period 2013-2018.
This report considers the present scenario and forecasts the growth prospects of the Global Transmission Tower market for the period 2014-2018. To calculate the size of the market, the report considers revenue generated from the total sales of transmission towers globally.
Initially, North American and Western European countries were dominating the Transmission Tower market but the trend is now shifting to Southeast Asian, South Asian, Eastern European, and Latin American countries, where the economies are gradually developing. There is a growing demand for power in these countries due to increased urbanization and availability of cheap resources and labor. Therefore, in the near future, these parts of the world are going to dominate the Transmission Tower market.
According to the report, the market is mainly driven by an increase in industrialization in developing countries such as India and China. This leads to increased demand for electricity in these countries and, hence, the demand for transmission towers.
Further, the report states that declining profit margins of vendors is one of the major challenges. As a result of the presence of numerous local and international vendors in the market, they are offering similar products at competitive prices. This leads to a decline in profit margins.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Key Market Drivers
- Increasing Demand for Towers in APAC Region
- T&D Infrastructure Renovation and Expansion
- Increased Industrialization in Developing Economies
Key Market Challenges
- Declining Profit Margin of Vendors
- Need to Meet Government Regulations and Industry Standards
- Substantial Investment of Resources
Key Market Trends
- Asian Economies Growing Steadily
- Shift of T&D market from North America and Western Europe to South-East Asia, South Asia, Eastern Europe, and Latin American countries
- Expected Boom in Exports
- ABB Ltd.
- Crompton Greaves Ltd.
- Siemens AG
- Tebian Electric Apparatus Stock Co. Ltd.
Other Prominent Vendors
- Associated Power Structures Pvt. Ltd.
- Changshu Fengfan Power Equipment Co. Ltd.
- Kalpataru Power Transmission Ltd.
- Karamtara Engineering Pvt. Ltd.
- KEC International Ltd.
- Nanjing Daji Iron Tower Manufacturing Co. Ltd.
- Shandong Dingchang Tower Co. Ltd.
- Weifang Changan Steel Tower Stock Co. Ltd.
- Zhejiang Shengda Steel Tower Co. Ltd.
For more information visit http://www.researchandmarkets.com/research/4979kb/global
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