The current rapid expansion of HVTSs in Asia Pacific, Latin America, the Middle East, and Africa is similar to the first wave of electrification and transmission system growth of the 20th century in North America and Europe.
The demand for longer transmission lines is mainly due to the electrification of rural areas and the interconnection of previously standalone utilities.
According to the report, the vendor landscape is also changing, with the focus changing to reconstructing and expanding transmission lines to utility-scale wind and solar in far away areas and deploying large scale HVTS infrastructure in China, India, and parts of Africa.
This development will lead to huge markets over the next decade, which will be leveraged by firms such as General Electric.
GE with its joint venture deal with China XD Group and its merger proposal with Alstom, is eyeing to expand its product manufacturing, sales, and delivery capabilities across several regions.
Navigant Research senior research analyst James McCray said: "The HVTS market will see tremendous capital investment over the next 10 years, as the infrastructure that was installed in the post-World War II era ages out, coal and nuclear generation is retired, and new utility scale renewable wind and solar generation is installed in remote areas.
"As these technologies become more powerful and smarter, the associated IT systems used to manage complicated HVTS deployments now leverage digital wireless sensors in every new piece of equipment, enabling better visibility on the performance, health, and capacity of the transmission system at every point along the way."
