Utility Vegetation Management Market is Expected to Reach USD 39.27 billion by 2029

Pune, India, April 11, 2023 (GLOBE NEWSWIRE) — The utility vegetation management market size size was valued at USD 22.87 billion in 2021 and USD 24.28 billion in 2022. The market is expected to reach USD 39.27 billion by 2029 with a CAGR of 7.1% during the forecast period. Utility vegetation management refers to the analysis of vegetation growth and safe removal. Increasing number of investments in distributed energy resources has boosted the mileage of power lines, which is propelling the demand for vegetation management in utilities. Fortune Business Insights™ shares this information in its report titled “Utility Vegetation Management Market, 2022-2029.”

Industry Developments:

November 2022: AiDash announced a strategic investment of USD 10 million from SE Ventures, backed by Schneider Electric. AiDash is a provider of satellite and AI-powered operations, maintenance, and sustainability solutions. The fund will be used to augment its satellite- and AI-powered vertical SaaS products.

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Report Highlights:

Drivers and Restraints:

Increasing Number of Severe Weather Disasters to Drive Market Development

Increasing number of severe weather disasters and conditions are projected to drive the utility vegetation management market growth. Extreme weather conditions increase the probability of trees outside the right-of-way falling into and tripping electric power lines which calls for urgent remediation measures. Moreover, global warming has led to the rise in temperatures, reducing pruning cycles, and increasing the recurrence of vegetation treatment around utilities. Increase in mileage power lines for enhancing the power is set to propel the market growth.

However, high cost of vegetation management is expected to impede the market expansion.

COVID-19 Impact:      

Halt on Ongoing Transmission and Distribution Projects Led to Negative Market Growth

The outbreak of the COVID-19 pandemic affected the deployment of new grid infrastructure. It also affected the ongoing transmission and distribution projects. Moreover, new project investments were reduced due to lower electricity requirements in industries. There has been a rise in the development of green technology which propelled the market growth.

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Segments:

Treatment Segment to Have Maximum Share with Increasing Adoption of Regulation Technologies

Based on service, the market is divided into treatment, pre-planning & monitoring, and reactive repair. The treatment segment is estimated to have the maximum share in the segment due to increasing adoption of vegetation removal and growth regulation technologies. The pre-planning & monitoring segment is set to have the highest CAGR due to technologies such as aerial monitoring such as drones, satellites, and LiDAR.

Insecticides & herbicides to be the Prime Part as they are Utilized Most to Remove Weed Growth

According to technology, the market is divided into insecticides & herbicides, plant growth regulators, LiDAR, and others. The insecticides & herbicides segment is set to hold the largest part as insecticides & herbicides are utilized most to remove weed growth near transmission lines and to control insects near the vegetation, which might damage power lines. Plant growth regulators are used to control the growth of weeds in the area of electrical utility infrastructure.

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Report Coverage:

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.

Regional Insights:

North America to Lead the Market Share due to its High Spending Power

North America has the dominant utility vegetation management market share due to the region’s high spending in vegetation management services and solutions. According to Leidos’ Commercial Energy, electric utilities in the U.S. spend almost USD 7 billion annually on utility vegetation management services and solutions.  

Europe is projected to show an important growth with Germany dominating the region due to technological advancements.

Increasing developments and rapid rate of urbanization are surging the demand for electricity, which is expanding the transmission lines in the region. Infrastructural development is set to propel the market growth.

Competitive Landscape:

Investments in New Technologies by Key Players to Drive Market Course

The market is fragmented into numerous players who are actively investing in new software development for monitoring purposes. They are investing in various technologies such as LiDAR and satellite imagery, Machine Learning and Artificial Intelligence (ML/AI), cloud computing, analytics and automation, real-time applications, and automated change detection. In August 2021, Earth Observation company LiveEO’s satellite-based vegetation monitoring solution for the medium-voltage network was rolled out with the German grid operator E.DIS.

List of Key Players Profiled in the Report:

• Corteva (U.S.)
• NM Group (U.S.)
• BASF SE (U.S.)
• Boultbee Vegetation Management (U.S.)
• Helena Professional Products (U.S.)
• Iapetus Infrastructure Services (U.S.)
• Leidos (U.S)
• TRC Companies, Inc (U.S.)
• Capgemini (France)
• IBM (India)
• Cyient (U.S.)
• GETAC (Taiwan)
• ArborSystems, Inc. (U.S.)

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Table of Content:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Emerging Trends – For Major Countries
  • Latest Technological Advancement
  • Regulatory Landscape
  • Porters Five Forces Analysis
  • Impact of COVID-19 on the Utility Vegetation Management Market
• Global Utility Vegetation Management Market Analysis (USD Billion), Insights, and Forecast, 2018-2029
  • Key Findings / Summary
  • Market Analysis, Insights, and Forecast – By Service
    • Treatment
    • Pre-planning and Monitoring
    • Reactive Repair
  • Market Analysis, Insights, and Forecast – By Technology
    • Insecticides & Herbicides
    • Plant Growth Regulators
    • LiDar
    • Others
  • Market Analysis, Insights, and Forecast – By Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa
• North America Utility Vegetation Management Market Analysis (USD Billion), Insights, and Forecast, 2018-2029
  • Key Findings / Summary
  • Market Analysis, Insights, and Forecast – By Service
    • Treatment
    • Pre-planning and Monitoring
    • Reactive Repair
  • Market Analysis, Insights, and Forecast – By Technology
    • Insecticides & Herbicides
    • Plant Growth Regulators
    • LiDar
    • Others

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