Electric Insulator Market:
Growth opportunities in the electric insulator market look promising over the next six years. This is mainly due to the increasing adoption of renewable energy sources and strong demand for electricity, and rising population and power consumption.
Electric Insulator Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The crucial driver stimulating the growth of the global electric insulator market is the augmenting acquisition of renewable resources. For instance, one of the major countries, Africa, is emphasizing achieving universal electricity access goals by 2025, with a motive to encourage clean and renewable energy solutions adoption. Also, to meet the target, the country needs 160 GW of new generation capacity, 75 million new off-grid connections, and 130 million new on-grid connections, and clean cooking solutions for 150 million households. Thus, it will strengthen the market size. The robust demand for electricity, mainly because of the expanding population and power consumption, will promote market growth. The electricity distribution is performed at different places, starting from power generation units to commercial establishments. The insulators play a major role in the distribution of electricity and offer high resistivity with low conductivity.
The growing demand for stable and reliable power distributional supply is another factor that boosts the market growth. As per the electric insulator market trend, the massive demand for the modernization of existing electrical infrastructure will further fuel the market size. Also, the surging investments in smart grid projects will further pave the way for market growth. The increasing smart city projects provide enormous growth opportunities for utility providers, technology companies, service providers, and consulting organizations as they rely on smart grids to impart tremendous energy to perform the activities and functions. For example, the Smart Dubai project in the UAE intends to direct the paperless transaction and build sustainable cities. However, the escalating number of grey market products with low quality will curb the electric insulator market size. Leading players in the market are facing vigorous competition from unorganized players supplying inexpensive and low-quality products. The growing sales of the electric insulator in the grey market deteriorate the brand names of leaders of the market as low-quality products are sold under their names.
Dielectric Material Type Segment Drivers
Based on the dielectric material type, ceramic/porcelain is anticipated to witness a higher CAGR during the forecast period owing to their vast use in high voltage insulating systems. These insulators have a better dielectric constant than glass, which can conduct more electricity at elevated temperatures, which fuels the market growth.
Electric Insulator Market’s leading Manufacturers:
- Maclean-Fogg
- Bharat Heavy Electricals Limited
- Hubbell
- General Electric
- Grasim Industries Limited
- Lapp Insulators
- Toshiba
- NGK INDUSTRIES, LTD
- Siemens
- ABB
Electric Insulator Market Segmentation:
Segmentation by Dielectric Material Type
- Ceramic/Porcelain
- Glass
- Composite/Polymer
Segmentation by End-User:
- Residential
- Commercial
- Industrial Sector/Utilities
Segmentation by Type:
- Suspension Insulators
- Pin Insulators
- Strain Insulators
- Stay Insulators
- Shackle Insulators
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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