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Market size and future development trend of composite utility poles
 August 31, 2022
Future global utility pole market
According to Research Dive's utility pole market analysis, the global market will exceed $57,052.3 million by 2026, up from $44,688 million in 2018, growing at a CAGR of 3.0%. North America is expected to grow significantly by 2026, reaching $16,167.4 million. By 2026, Asia Pacific is expected to reach USD 23,020.6 million. They are also the two largest regions in the fiberglass products global market. The utility poles market is primarily driven by technological advancements in composite utility poles and increasing energy consumption across the globe.
At present, the poles used in the world are divided into the following categories according to the material: steel poles, wooden poles, concrete poles and composite materials reinforcement poles. Among them, the development of composite utility poles has created important investment opportunities for the growth of the utility pole market. This is because composite materials are corrosion-resistant, durable, lightweight, and resistant to heavy loads. These composite materials with excellent properties and cost-effective materials will drive the market growth in the coming years. 
The composites market is expected to grow from USD 1,128.4 million in 2018 to USD 1,554.7 million in 2026, growing at a rate of 4.0% over the forecast period. The fastest growing region is Asia Pacific. According to statistics, as early as 2018, the electric pole market in the Asia-Pacific region accounted for 39.1% of the world, and will continue to maintain its dominant position in the future. This is due to the relatively high population density in the Asia-Pacific region, especially the existence of countries with large populations such as India and China.
Advantages of composite materials as utility poles