Rising demand for high security at oilfields to bolster the overall demand

When a power disruption is faced by the transmission line, time is the essence. The systems of emergency response must be ready to go. The spare tower is an emergency response system tower, an essential part of preparedness for emergency response. ERS as a product provides the manufacturing units with production work and its deployment ensures minimal power cuts when tower failures occur. Thus, the losses of interruption of the businesses are brought down. The temporary restoration can be attained in two to three days after the collapse of the transmission line tower / s, instead of various weeks compulsory for stable restoration. It is possible to take up the permanent restoration later or concurrently.

Oil & Gas to dominate the global market throughout 2029

In terms of application, the oil & gas segment led the global ERS towers market in 2020 by accounting more than 45% share. This is majorly due to increasing demand for safety at oil & gas refineries and drilling sites. Rising penetration of ERS towers across oil fields in order to comply with safety norms led by several governmental and non-governmental authorities are anticipated to drive the growth of this segment. Furthermore, increasing oil & gas drilling activities especially in North America and Asia-Pacific are expected to drive the global ERS towers market. Marine segment held the second largest share in 2020 and is anticipated to witness a considerable growth over the forecast period. Rising governmental support to enhance the overall safety & security in marine applications is expected to drive the growth of this segment.

Asia Pacific to register a considerable growth rate

Due to the increasing focus on energy management and technological advances, Asia-Pacific is expected to record a significant growth rate in the ERS towers market over the forecast period. The growing Asia-Pacific oil & gas drilling activities especially in China are increasing the need for ERS towers in this region. Major firms like Lindsey are also planning to open their facilities in China for their growing businesses, mainly due to the low cost of manufacturing and labor. In addition to China, other countries viz. Japan are expected to lead the ERS towers market with their primary colocation marketplaces in Osaka, Tokyo, Indonesia and Nagoya. These countries boost the growth of the market for power connectors. North America dominated the market in 2020 and is anticipated to maintain its dominance throughout the forecast period owing to an established electrical industry as well as rising focus on the safety and security of electrical ecosystem. Countries such as UK and Germany are anticipated to drive the European ERS towers market.

Some of the key manufacturers operating in the global power connectors market include SBB, Lindsey, Mannvit Engineering, Roda SpA, SJS Inc., GAM Industrial Company among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Emergency Response System Towers market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Emergency Response System Towers market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Emergency Response System Towers market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Emergency Response System Towers market?
• Which is the largest regional market for Emergency Response System Towers market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Emergency Response System Towers market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Emergency Response System Towers market worldwide?