Electric Insulator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Electric Insulator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global electric insulator market size reached US$ 12.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5.3% during 2023-2028.

Electric insulators refer to materials that exhibit poor electrical conductivity due to the lack of free-flowing electric charge. When a source of electromotive force (EMF) is applied, they demonstrate characteristics like high resistivity and assist in efficiently concentrating the flow of the electric current. Apart from this, they avert the current from flowing in the direction where it is not required. Some of the commonly used electric insulators include ceramic, glass, composite materials, air, rubber, plastic, wood, silk, paper, etc. They are generally used for coating wires, in electricity distribution networks and as dielectrics in capacitors.

One of the key functions of insulators is to offer protection against the hazardous effects of electricity, which makes them useful in electricity transmission and distribution (T&D) networks. Further, insulators find vast applications in different industries as a safety device on account of properties such as low thermal expansion and high dielectric strength. Moreover, several developed economies are currently investing in the refurbishment of aging grid technology and establishing sustainable electrical networks for carrying electricity generated through renewable sources. On the other hand, owing to the factors like rapid urbanization and technological developments, governments in the emerging economies are undertaking initiatives, such as smart grid vision and green energy corridors, to create reliable and efficient grid infrastructure. This is helping in ensuring that electricity reaches every corner of the country.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global electric insulator market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on material, voltage, category, installation, product, rating, application and end use industry.

Breakup by Material:

Ceramic/Porcelain
Glass
Composites
Others

Breakup by Voltage:

Low
Medium
High

Breakup by Category:

Bushings
Other Insulators

Breakup by Installation:

Distribution Networks
Transmission Lines
Substations
Railways
Others

Breakup by Product:

Pin Insulator
Suspension Insulator
Shackle Insulator
Others

Breakup by Rating:

<11 kV
11 kV
22 kV
33 kV
72.5 kV
145 kV
Others

Breakup by Application:

Transformer
Cable
Switchgear
Busbar
Surge Protection Device
Others

Breakup by End Use Industry:

Utilities
Industries
Others

Breakup by Region:

Asia Pacific
North America
Europe
Middle East and Africa
Latin America

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being ABB, NGK Insulators Ltd, Aditya Birla Nuvo, Siemens AG, General Electric, Hubbell Incorporated, Bharat Heavy Electricals Limited, Toshiba, Krempel, MacLean-Fogg, PFISTERER, Seves Group, WT Henley, etc.

Key Questions Answered in This Report:
How has the global electric insulator market performed so far and how will it perform in the coming years?
What are the key regional markets in the global electric insulator industry?
What has been the impact of COVID-19 on the global electric insulator industry?
What is the breakup of the market based on the material?
What is the breakup of the market based on the voltage?
What is the breakup of the market based on the category?
What is the breakup of the market based on the installation?
What is the breakup of the market based on the product?
What is the breakup of the market based on the rating?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the global electric insulator industry?
What are the key driving factors and challenges in the global electric insulator industry?
What is the structure of the global electric insulator industry and who are the key players?
What is the degree of competition in the global electric insulator industry?
What are the profit margins in the global electric insulator industry?