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Asia Pacific Composite Insulators Market
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Asia Pacific Composite Insulators Market Size
Asia Pacific Composite Insulators Market was valued at USD 1.2 billion in 2023 and is anticipated to expand at a CAGR of over 6.6% from 2024 to 2032. Efforts to modernize the grid and initiatives by authorities to develop unreliable infrastructure, and reducing power interruptions, are driving the industry growth.
To get key market trends
Favorable initiatives, flourishing investments for expansion of power networks are complementing the industry landscape. For instance, in September 2024, India's National Electricity Plan outlines significant investments of around USD 111 billion in transmission infrastructure to meet growing energy demands. The plan aims to expand network capacity from 4.85 lakh ckm to 6.48 lakh ckm and increase transformation capacity to 2,342 GVA, supporting projected peak power requirements of 458 GW.
Asia Pacific Composite Insulators Market Report Attributes
| Key Takeaway | Details |
|---|---|
| Market Size & Growth | |
| Base Year | 2023 |
| Market Size in 2023 | USD 1.2 Billion |
| Forecast Period 2024 to 2032 CAGR | 6.6% |
| Market Size in 2032 | USD 2.1 Billion |
| Key Market Trends | |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
What are the growth opportunities in this market?
Asia Pacific Composite Insulators Market Trends
The Asia Pacific composite insulators industry is set to grow on account of increasing electricity demand and expansion of transmission and distribution (T&D) grid networks. Government initiatives to enhance electrical infrastructure in areas prone to extreme weather conditions, where conventional units may be less reliable, will augment the product deployment. Favorable initiatives by the authorities for expansion of transmission networks will complement the business landscape. Furthermore, increasing deployment of smart grids and investments in strengthening power grid infrastructure will augment industry landscape.
Asia Pacific Composite Insulators Market Analysis
Learn more about the key segments shaping this market
Cables and transmission lines segment is predicted to hit USD 530 million by 2032. Rising demand for reliable transmission networks to meet increasing electricity needs, coupled with ongoing grid network expansion, is augmenting the business landscape. These units offer superior insulation compared to prevailing insulators, improve transmission line performance and prevent leakage currents, further augmenting product deployment across the application. Government initiatives promoting electrical network deployment in remote areas, along with the refurbishment and replacement of existing electrical components, are further driving industry growth.
Learn more about the key segments shaping this market
The utilities segment is anticipated to witness more than 6% CAGR through 2032. Significant investments in high voltage transmission networks along with rising demand for electricity driven by rapid urbanization and rising population. Ongoing retrofitting of existing electricity networks and the rapid expansion of smart grid systems are positively influencing the industry outlook. Government support to develop energy infrastructure and frequency transmission links along with increased spending on electrical infrastructure to reduce outages will complement the business landscape. Ongoing efforts to enhance power infrastructure efficiency, coupled with large-scale renewable energy deployment, will further shape the Asia Pacific electric insulator business dynamics.
Looking for region specific data?
China composite insulators market is likely to exceed USD 690 million by 2032. Rising electricity demand, efforts to modernize and expand electrical networks and paradigm shift towards integration of renewable energy will complement the industry landscape. Ongoing adoption of smart grid coupled with favorable policies by authorities to enhance electricity infrastructure will positively influence the business dynamics. Furthermore, initiatives by utilities to modernize power transmission and distribution infrastructure, along with ongoing clean energy integration, are increasing demand for composite insulators, further propelling the industry growth.
Asia Pacific Composite Insulators Market Share
Major companies in the Asia Pacific composite insulator industry are focusing on introducing new technologies and products to strengthen their market position. They are also pursuing strategic agreements, collaborations, and partnerships along with mergers and acquisitions, to gain a competitive edge. Hitachi Energy, PFISTERER Holding, Siemens Energy, Aditya Birla, TE Connectivity and KUVAG hold the majority share across the electric insulator industry.
Asia Pacific Composite Insulators Market Companies
Major players operating across the industry include:
- Aditya Birla
- CYG
- Dalian
- Deccan
- Hitachi
- Jiangxi Johnson
- KUVAG
- Navitas
- Nanjing Electric
- Olectra
- PFISTERER
- Rayphen
- SAA Grid
- Siemens
- Suzhou
- Tanho
- Taporel
- TE Connectivity
Asia Pacific Composite Insulators Industry News
- In May 2024, a team of Australian engineers has made significant progress in enhancing the fire and electrical spark resistance of power-pole insulators. This development aims to mitigate the risk of pole-top fires and decrease the frequency of power outages. Researchers from Australian universities have collaborated to improve insulation materials for power poles, with their findings published in a respected international journal. The innovative approach could potentially be applied as a protective layer for existing ceramic and glass insulators, offering improved defense against various environmental challenges including moisture, pollution, and fire hazards.
- In November 2023, Zhongrui Electric exhibited its latest electrical equipment advancements at the Enlit Asia 2023, a key event in the energy industry, commences today, gathering professionals and innovators from the sector. The company invites attendees to visit their booth, where it displayed range of high-quality products, including composite insulators, wall bushings, arresters, and specialized electrical components. These products demonstrate the company’s superior design, durability, and performance in power transmission and distribution. Company representatives were able to provide technical specifications, discuss application scenarios, explained performance benefits, and explored customization options for specific requirements.
This Asia Pacific composite insulators market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2021 to 2032 for the following segments:
Market, By Voltage
- High voltage
- Medium voltage
- Low voltage
Market, By Application
- Cables and transmission lines
- Switchgears
- Transformer
- Bus Bars
- Others
Market, By Product
- Pin Insulators
- Suspension insulators
- Shackle insulators
- Other insulators
Market, By End-Use
- Residential
- Commercial & Industrial
- Utilities
Market, By Rating
- ≤ 11 kV
- > 11 kV to ≤ 22 kV
- > 22 kV to ≤ 33 kV
- > 33 kV to ≤ 72.5 kV
- > 72.5 kV to ≤ 145 kV
- > 145 kV to ≤ 220 kV
- > 220 kV to ≤ 400 kV
- > 400 kV to ≤ 800 kV
- > 800 kV to ≤ 1,200 kV
- > 1,200 kV
Market, By Installation
- Distribution
- Transmission
- Substation
- Railways
- Others
The above information has been provided for the following countries:
- China
- Japan
- India
- South Korea
- Australia
Frequently Asked Question(FAQ) :
How is the Asia Pacific composite insulators market expected to grow from 2024 to 2032?
The Asia Pacific market composite insulators will cross USD 2.1 billion by 2032 and is projected to expand at a CAGR of over 6.6% from 2024 to 2032, driven by favorable government initiatives and substantial investments aimed at expanding power networks.
What factors are contributing to the growth of the cables and transmission lines segment in the APAC composite insulators market?
The cable and transmission lines segment is expected to reach USD 530 million by 2032, as government initiatives promoting electrical network deployment in remote areas and the refurbishment and replacement of existing electrical components.
Which segment in the Asia Pacific composite insulators market is anticipated to witness significant growth?
The utilities segment is slated to witness a CAGR of over 6% through 2032, attributed to significant investments in high-voltage transmission networks.
How is the China composite insulators market expected to evolve by 2032?
The China composite insulators market is likely to exceed USD 690 million by 2032, driven by the adoption of smart grids and favorable policies by authorities to enhance electricity infrastructure.
Who are the major key players operating in the Asia Pacific composite insulators market?
Aditya Birla, CYG, Dalian, Deccan, Hitachi, Jiangxi Johnson, KUVAG, Navitas, Nanjing Electric, Olectra, PFISTERER, Rayphen, SAA Grid, Siemens, Suzhou, Tanho, Taporel, and TE Connectivity are some of the major key players operating in the Asia Pacific composite insulators industry.
