Emergency Response System Towers Market To Be Driven By Rapid Growth Of The Global Oil & Gas Industry
According to a new market research report published by Brisk Insights, “Emergency Response System Towers Market (Type – Waist Type, Guyed V Type and Others; Application – Oil & Gas, Marine and Others) by – Growth, Future Prospects and Competitive Analysis, 2019 - 2027”, the overall emergency response system towers market worldwide was valued at US$ 3.70 Bn in 2018 and is set to grow with a CAGR of 5.4% during the forecast period.
Normally, unexpected service disruptions caused by storm, flood or fire toppled transmission towers could mean a long-term outage situation. It will take weeks or even months, depending on the time of year, to rebuild affected line sections with towers of the same types as those often damaged. Fortunately, thanks to the development of emergency response systems (ERS), which can be installed in a matter of hours, usual service can be quickly restored even when work proceeds to finish whatever repairs are essential for the affected sections.
The ERS structures are designed to quickly bypass permanent transmission towers at any voltage in any terrain. Towers can be damaged or destroyed by soil erosion, storms, earthquakes, ice, willing acts and flooding. ERS structures are crafted to return lines to service quickly. ERS structures allow the user to replace or rebuild the permanent structures despite any time constraints by quickly and safely bypassing damaged permanent structures. The motivation of power supply companies to restore service after line structure collapses as quickly as possible goes far beyond monetary considerations alone. There are also potential political and social repercussions, such as the risk of unrest, when for extended periods local populations are deprived of power. All these issues affect the power system operator and require them to restore service as soon as possible. ERS application is not limited to calamitous events that damage sections of the line. Sometimes an existing line needs to be re-routed for a short period of time to cater to a construction project or to enable sustained power flow when a line is somehow being upgraded.
By type, the waist type segment dominated the global market in 2018. This is majorly due to its wide range of voltage carrying capacities. Since these towers are easy to assemble, these towers are widely used in uneven terrains and plateaus. ERS application is not limited to calamitous events that damage sections of the line. Sometimes an existing line needs to be re-routed for a short period of time to accommodate a construction project or to allow continued power flow while a line is somehow being upgraded. The guyed V tower is anticipated to hold the second largest share due to cost effectiveness, large number of suppliers and less weight. Moreover, use of guyed V towers in a wide range of electrical applications is anticipated to drive the overall growth.
With a market share of over 40 percent in 2018, North America dominated the ERS tower market. Some of the factors responsible for its large share are the local presence of key players, established infrastructure and technological advances. Despite the buoyant and growing worldwide demand, less than a handful of suppliers, mostly based in North America, are currently serving the ERS market. Asia-Pacific is projected to witness the fastest growth during the forecast period. This is majorly due to increasing investments in the enhancement of electrical grid, rising penetration of ERS towers in untapped areas of India and China as well as rapid development of the Southeast Asian economies. Furthermore, increasing inclination of manufacturers to set up their facilities in China and India owing to cheap labor, supportive governmental policies as well as low cost of raw materials are some other key aspects driving the Asia-Pacific ERS towers market.
Some of the key manufacturers operating in the global power connectors market include SBB, Lindsey, Mannvit Engineering, Roda SpA, GAM Industrial Company among others. Major players are adopting several marketing strategies such as acquisitions & mergers, product launch, product innovation, geographical expansion and partnerships in order to maintain their goodwill in the ever competitive market.
Browse the full report at https://www.briskinsights.com/report/emergency-response-system-towers-market
The Global Emergency Response System Towers Market is Segmented into:
By Type Segment (2017–2027; US$ Bn)
By Application Segment (2017–2027; US$ Bn)
By Geography Segment (2017–2027; US$ Bn)
*Complete segmentation list is on report page