Market Insights
“The FRP utility pole market was estimated at US$ 142 million in 2023 and is likely to grow at a decent CAGR of 4.6% in the long run to reach US$ 196 million in 2030”.
Market Dynamics
In the FRP poles category, utility poles play a vital role, having the highest penetration among all applications. Wooden utility poles are prone to damage from fire, rotting, and degradation, whereas FRP poles have proven their ability to overcome these challenges efficiently. Apart from this, FRP poles also offer significant weight reduction which creates ease of transportation and is also having a longer life span with reduced maintenance.
The FRP utility pole market has experienced a marginal impact of the pandemic as power projects, such as transmission and distribution, have been in operation throughout the year with an overall low disruption. The market is estimated to blossom at a healthy pace in 2023, followed by maintaining its growth thrust in the coming five years, reaching an estimated value of US$ 196 million in 2030.
Segment Analysis
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Segmentations
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List of Sub-Segments
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Segments with High Growth Opportunity
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Application-Type Analysis
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Transmission, Distribution, and Telecommunication
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Distribution is expected to remain the largest application type in the market over the next five years.
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Process-Type Analysis
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Pultrusion, Filament Winding, and Centrifugal Casting
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Filament winding holds a giant share in the market by process type.
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Length-Type Analysis
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Up to 20ft, 20-40ft, and Above 40ft
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20-40 ft poles accounted for the largest share of the length type.
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Resin-Type Analysis
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Polyurethane, Polyester, and Others
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Polyurethane is likely to maintain its dominance during the forecast period, and polyester is expected to grow at the highest rate.
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Region Analysis
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North America, Europe, Asia-Pacific and Rest of the World
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North America is expected to remain the largest market over the next five years.
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By Application Type
“Distribution is expected to remain the largest application type in the market during the forecast period.”
- Based on the application type, the market is segmented into Transmission, Distribution, and Telecommunication.
- Distribution is expected to bring the largest demand in terms of application over the next five years. Since the high penetration of FRP poles in distribution applications in the major markets, it has led to the huge dominance of this segment. Various fire disaster incidents have proven FRP to be an efficient claimant over wood counterparts in the power distribution poles.
By Process Type
“Filament winding holds a giant share in the market with most of the manufacturers engaged in manufacturing FRP poles through this process.”
- Based on the process type, the market is segmented into Pultrusion, Filament Winding, and Centrifugal Casting.
- The Filament winding holds a giant share in the market with most of the manufacturers engaged in manufacturing FRP poles through this process. Excellent dimensional stability and established technology in rounded/cylindrical parts have led to the high prevalence of the process in the market. Pultrusion also offers sizable market opportunities.
By Resin Type
“Polyurethane is likely to maintain its dominance during the forecast period, whereas polyester is expected to grow at the highest rate”.
- Based on the resin type, the market is segmented into polyurethane, polyester, and others.
- Polyurethane is likely to maintain its dominance during the forecast period, whereas polyester is expected to grow at the highest rate during the same period. There is a higher penetration of polyurethane in the USA than in any other country in the world. Most of the manufacturers are using polyester resins, whereas some of them have a presence in the epoxy resins too.
Regional Analysis
“North America is expected to remain the largest market for FRP utility poles during the forecast period”.
- In terms of regions, North America is expected to remain the largest market over the next five years. The USA is by far the world’s largest market for FRP utility poles, maintaining decades of leadership in the industry.
- Asia-Pacific represents huge whitespace opportunities with China being the sweet spot of the regional market. Various key countries, such as South Korea, India, Indonesia, Australia, Canada, Norway, Germany, and France, are currently diminutive markets with an overall low penetration of FRP in utility poles.
Critical Questions Answered in the Report
- What are the key trends in the global market?
- How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
- What is the impact of COVID-19 on the global market?
- What are the key strategies adopted by the major vendors to lead in the market?
- What is the market share of the top vendors?
Market Segmentation
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The FRP utility pole market is segmented into the following categories.
By Application Type
- Transmission
- Distribution
- Telecommunication
By Process Type
- Pultrusion
- Filament Winding
- Centrifugal Casting
By Length Type
- Up to 20ft
- 20-40ft
- Above 40ft
By Resin Type
- Polyurethane
- Polyester
- Others
By Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
Key Players
The market is highly fragmented with the presence of several small players. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the FRP utility pole market.
Here is the list of the Top Players (Based on Dominance)
- RS Technologies Inc
- Shakespeare (Valmont Industries)
- Ameron (NOV)
- Creative Composites Group
- Elsewedy Electric
- Intelli Pole (Highland Industries)
- Nangtong Wellgrid Composite Material Co., Ltd.
- Shanghai Tunghsing Composites Co., Ltd.
- Europoles
- Strongwell Composites
Note: The above list does not necessarily include all the top players in the market.
Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com
Research Methodology
- This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s FRP utility pole market realities and future market possibilities for the forecast period.
- The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
- The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
- This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
- More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
- We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
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Key questions this report answers
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Relevant contents in the report
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How big is the sales opportunity?
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In-depth Analysis of the FRP Utility Pole Market
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How lucrative is the future?
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Market forecast and trend data and emerging trends
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Which regions offer the best sales opportunities?
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Global, regional, and country-level historical data and forecasts
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Which are the most attractive market segments?
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Market Segment Analysis and Forecast
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Which are the top players and their market positioning?
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Competitive landscape analysis, Market share analysis
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How complex is the business environment?
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Porter’s five forces analysis, PEST analysis, Life cycle analysis
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What are the factors affecting the market?
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Drivers & challenges
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Will I get the information on my specific requirements?
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10% free customization
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Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances.
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.
