Electric Insulator Market: Current Analysis and Forecast (2021-2027)

Electric Insulator Market: Current Analysis and Forecast (2021-2027)

The Global Electric insulator market was valued at around 11 bn in 2020 and is expected to grow at a CAGR of more than 6% during the forecast period (2021-2027). Insulators are used in every electrical circuit as they have high resistivity and low conductivity. Insulators avoid leakage of current and ensure the safety of humans and the stable operation of an electric circuit. Insulators are used for isolation and to avoid external disturbance of electrical equipment and circuits. Factors that are positively influencing the market size of an electric insulator such as 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, with 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 to wider the reach of electricity in every corner of a rural and urban area is expected to escalate the market size of electric insulator.ABB, General Electric, Toshiba, NGK Insulator, Siemens, LAPP Insulators, TE Connectivity, Hubbell, Bharat Heavy Electricals Limited, Seves Group. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
"Amongst type, composite segment holds the major share”

Based on type, the electric insulator market is classified into ceramic, composite, and glass. The composite segment caters to extensive market share in the electric insulator market and is predicted to be the fastest-growing segment in the forecasted period. Compared with ceramic insulators and glass insulators, composite insulators possess superior mechanical properties, good insulation, anti-pollution flashover performance, and are easily installed and maintained.
"Amongst voltage, medium segment holds the major share”

Based on voltage, the electric insulator market is categorized into low, medium, and high. The medium voltage segment caters to a significant market share in the electric insulator market. The medium voltage insulator demand is increasing owing to the rising adoption of high insulation resistance insulator material coupled with good thermal conductivity, moisture coupled with high mechanical strength, and convenient processing which is positively influencing the demand for medium voltage to isolate the charged parts with different potential in electrical equipment.
"Amongst end-user, industries segment holds the major share”

Based on end-user, the electric insulator market is classified into utilities, industries, and others. The industry segment caters to a considerable share of the electric insulator market. The increasing growth of industries that require major power consumption is mining, construction, and agriculture. Continuous development of industries and urbanization in developing countries are creating the scope and demand for the electric insulator to ensure power distribution efficiency.
"Asia Pacific represents one of the extensive market shares of global Electric Insulator Market”

For a better understanding of the market dynamics of the global electric insulator. The Asia Pacific caters to extensive market share in the electric insulator market and is expected to grow at an increasing rate. Factors such as the growing demand for electricity in the region is witnessing high growth, owing to rapid industrialization and urbanization are escalating the market size of the electric insulator.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.