Market Research Future published a research report on “Electric Insulator Market Research Report- Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast Report to 2023.
Market Analysis
The global electric insulator market is predicted to develop at a 5.88% CAGR between 2018- 2023 states the recent Market Research Future (MRFR) analysis. Electric insulator, simply put, is a form of material that helps in resisting the flow of the electric current. Generally, it is used in every electric device in the transmission and the distribution line. It comes in different voltage capacities of low, medium, and high and is mostly used in cable, busbar, switchgear, transformer, and other applications. These insulators are made of ceramic, glass, and composite. Utilities and industries are some its end users.
Various factors are propelling the global Electric Insulator Market share. As per the current MRFR report, such factors include rising adoption of renewable energy sources, growing investments in T &D networks, refurbishment of current grid networks worldwide, and growing acceptance of smart grid technology. Additional factors adding market growth include sizable investment towards modernization of electrical infrastructure, rapid urbanization, and growing emphasis on the capacity of power generation.
On the contrary, rising grey market products of inferior quality, massive investment, economic slowdown, and lack of government assistance are factors that may impede the global electric insulator market growth over the forecast period. Besides, the COVID-19 impact is also impacting the market growth to some extent which is expected to improve by the year end.
Key Players
Eminent players profiled in the global electric insulator market report include Southwire Company (US), Maclean Fogg (US), Lapp Insulators (Germany), Bharat Heavy Electricals Limited (India), Toshiba (Japan), Hubbell (US), NGK Insulators (Japan), Siemens (Germany), General Electric (US), and ABB (Switzerland), among others.
Market Segmentation
MRFR report offers a broad segmental analysis of the Electric Insulator market on the basis of type, voltage, application and end-user.
Based on type, it is segmented into ceramic, composite and glass. Of these, ceramics will have the largest share in the market over the forecast period. Ceramic insulators are capable of performing in rugged environments and with minimal leakage. Besides it offers considerable stress resistance and optimum mechanical strength.
Based on voltage, the Electric Insulator market is segmented into low, medium and high. Of these, low voltage segment will dominate the market over the forecast period as it is widely used in industrial, residential and commercial applications for different purposes. Thus, its demand is in-line with urban and industrial developments.
Based on application, it is segmented into cable, transformer, switchgear, busbar and others. Of these, transformers will dominate the market over the forecast period. The burgeoning need for electrical equipment from various end-users such as renewables, railways and metros and utilities are projected to fuel the market.
Based on end-user, the Electric Insulator market is segmented into utilities, industries and others. Of these, utilities will lead the market over the forecast period owing to growing investments in T&D network coupled with upgradation of aging technology especially in developed nations namely Australia, Canada and the US.
Regional Analysis
By region, the Electric Insulator market covers growth opportunities and latest trends across North America, Asia Pacific, Europe, South America and Middle East and Africa. Of these, APAC will rule the roost in the Electric Insulator market over the forecast period owing to growing dependence on infrastructural activities and renewable sources of power generation, transmission and distribution spending and growing investments in the development of smart grid infrastructure. India and China are the key contributors here as they are heavily investing in transmission and distribution infrastructure for catering the growing needs for electricity. In North America, the Electric Insulator market will have the second major share as refurbishment and replacement of the current infrastructure is the chief requirement in the local transmission and distribution scenario. The Electric Insulator market in Europe will have a favorable growth with smart grid technology gaining momentum especially amid European Union countries. Renewed emphasis on renewable energy sources is being developed in the UK and Germany.
Table of Content
- Industry Overview
- Major Segmentation, classification, Application ect
- Production Electric Insulator Market Analysis
- Sales Electric Insulator Market Analysis
- Consumption Market Analysis
- Production, Sales and Consumption Market Comparison Analysis
- Competition Analysis by Players
- Marketing Channel Analysis
- New Project Investment Feasibility Analysis
- Industrial Chain, Sourcing Strategy and Downstream Buyers
- Marketing Strategy Analysis Distributors/Treads
- Global and Regional Market Forecast
- Electric Insulator Market dynamics
- Electric Insulator Market Effect Factors Analysis
- Conclusion
- Research Methodology
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