WILMINGTON, Del., Aug. 12, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Wire Pulling And Tensioning Market by Type (Manual Wire Pulling and Tensioning Equipment, Electric Wire Pulling and Tensioning Equipment, Hydraulic Wire Pulling and Tensioning Equipment and Pneumatic Wire Pulling and Tensioning Equipment), and Application (Construction, Power Transmission and Distri
WILMINGTON, Del., Aug. 12, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Wire Pulling And Tensioning Market by Type (Manual Wire Pulling and Tensioning Equipment, Electric Wire Pulling and Tensioning Equipment, Hydraulic Wire Pulling and Tensioning Equipment and Pneumatic Wire Pulling and Tensioning Equipment), and Application (Construction, Power Transmission and Distribution, Telecommunication, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the wire pulling and tensioning market was valued at $3.2 billion in 2023, and is estimated to reach $7.1 billion by 2032, growing at a CAGR of 9.1% from 2024 to 2032.
Prime determinants of growth
The Wire Pulling and Tensioning market is witnessing significant expansion due to rise in demand in urban infrastructure development, renewable energy projects, telecommunications, and construction sectors. Technological advancements in wire tensioning equipment drive efficiency and reliability, further fueling market growth. In addition, increase in investments and government initiatives aimed at modernizing infrastructure contribute to the market's positive outlook. This growth trajectory is expected to continue as industries worldwide prioritize the enhancement of their wire pulling and tensioning capabilities to meet evolving demands efficiently.