Steel Lattice Tower Market was valued at USD 25.7 Billion in 2022 and is projected to reach USD 38.9 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
The steel lattice tower market has seen substantial developments between 2018 and 2022, driven by rising demand for energy transmission, telecommunications, and infrastructure expansion. These towers have become critical in supporting power transmission networks, ensuring reliable communication signals, and serving as essential components in modern infrastructure. With growing urbanization and the increasing need for efficient energy distribution, the market for steel lattice towers surged during this period. According to various market reports, the steel lattice tower market was valued at several billion USD in 2022, with a consistent annual growth rate of around 4-5%. The primary demand drivers during this period were the construction of new power grids, the expansion of cellular networks, and the integration of renewable energy sources, particularly wind and solar energy, which require robust transmission towers.
However, looking ahead to the period from 2023 to 2033, the demand for steel lattice towers is expected to experience shifts due to evolving market dynamics. Factors such as technological advancements in tower design, new materials for construction, and shifts in energy policy could influence future demand. The increasing focus on renewable energy, specifically the need for offshore wind farms, will drive the need for specialized steel lattice towers capable of supporting heavy transmission cables in challenging environments. Moreover, the global trend towards 5G technology and increased mobile network penetration will create a surge in demand for telecom towers, which often utilize steel lattice structures for support.
With renewable energy and telecom sectors driving future demand, the steel lattice tower market is projected to grow at a robust rate over the next decade. It is expected that the market will expand due to the ongoing infrastructure projects in emerging economies, increased investments in sustainable energy, and continued urbanization in various parts of the world. For instance, the Asia Pacific region, particularly China and India, is poised to experience significant demand as they rapidly expand their energy grids and telecommunications networks. Furthermore, advancements in tower materials, such as the introduction of hybrid structures combining steel with carbon fiber or aluminum, may influence production costs and overall demand for steel lattice towers in the years to come. As we enter a new phase of global infrastructure development, the role of steel lattice towers in supporting critical energy and communication networks will only grow stronger.
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KEC International
ROHN
Valmont Industries
GORD Telecom
Sabre Industries
Ehresmann Engineering
Great Plains Towers
Trylon
American Tower
NELLO
LeBLANC Group
Locweld
Fabrimet
BM Industrial
Hengshui Kehang Metal Structure
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Steel Lattice Tower Market
Telecommunication
Electricity
Meteorological Monitoring
Based on Types the Market is categorized into Below types that held the largest Steel Lattice Tower market share In 2023.
Self-Supporting Tower
Guyed Tower
Triangular Tower
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Steel Lattice Tower Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Steel Lattice Tower Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Steel Lattice Tower Market, By Type
6. Global Steel Lattice Tower Market, By Application
7. Global Steel Lattice Tower Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Steel Lattice Tower Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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