FRP Utility Pole Market Growth Analysis | 2024-2030

Market Insights

The FRP utility pole market was estimated at USD 142 million in 2023 and is likely to grow at a decent CAGR of 4.6% during 2024-2030 to reach USD 195.9 million in 2030.

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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 also has 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 USD 195.9 million in 2030.

Market Drivers

Rapid urbanization and the need for upgraded infrastructure are increasing the demand for durable and reliable utility poles and their incredible performance in areas that are heavily facing natural disasters like hurricanes, floods, and earthquakes.

Segment Analysis

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 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 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.

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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 Insights

“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.

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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.

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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 in the most comprehensive way. 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. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

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)

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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.