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Composite Insulators Market Size - By Voltage (High, Medium, Low), By Application (Cables & Transmission Lines, Switchgears, Transformers, Bus Bars), By Product (Pin Insulators, Suspension Insulators, Shackle Insulators), End Use, Rating, Installation & Forecast, 2024 - 2032

  • Report ID: GMI3029
  • Published Date: May 2023
  • Report Format: PDF

Composite Insulators Market Size

Composite Insulators Market was valued at USD 2.4 billion in 2023 and is anticipated to observe more than 6.9% CAGR from 2024 to 2032, owing to the grid modernization efforts coupled with the respective government initiatives aimed at replacing unreliable infrastructures to reduce power interruptions.

Composite Insulators Market

The industry growth will be fueled by grid modernization efforts and government initiatives aimed at replacing unreliable infrastructures to reduce power interruptions. The introduction of favorable regulatory frameworks by regulators along with encouraging investments for the development of technologies and expansion of power networks will contribute to the positive development of the market. The rising demand for energy efficient units across the industrial sector along with ongoing replacement of conventional electrical components for smooth and reliable T&D operations will augment the market expansion.

Composite insulator is a type of electric insulator and are widely used in electrical power systems as they offer numerous advantages over traditional porcelain or glass insulators. These insulators are composed of a combination of materials, typically including a fiberglass reinforced polymer (FRP) rod or core, silicone rubber housing, and metal end fittings. The unique design and composition of composite insulators make them highly suitable for various applications in transmission and distribution networks. The ongoing adoption of advanced technological systems along with the wide installation of these units across numerous industrial verticals is set to propel the composite insulators market demand.

COVID- 19 Impact

The COVID-19 crisis had a significant impact on the overall demand for composite insulators in the industry. The slowdown in infrastructure projects and the temporary closure of industrial and manufacturing facilities resulted in reduced demand for various types of composite insulators. The growth of electric grid expansion projects and the replacement of aging electrical networks also experienced a slowdown during the crisis. However, the demand for a resilient and modern electrical network started to rebound as governments announced relaxations on imposed lockdowns. In addition, the resumption of industrial activities and rising energy demand across several verticals have also contributed to the industry growth. Furthermore, there will be an increase in the demand for these units driven by the need for a new and uninterrupted supply of electricity will further influence the industry growth.

Composite Insulators Market Analysis

The composite insulators market is expected to witness significant growth due to their high sustainability and cost-effectiveness. For instance, In January 2023, The U.S. government has recently announced a significant investment of USD 2.7 billion to support the expansion and modernization of the rural electric grid, as well as to enhance grid security. This funding will be directed towards 64 electric cooperatives and utilities across the country. The investment aims to bring long-term benefits to rural communities, businesses, and individuals. Furthermore, paradigm shift towards the cost-competitive renewable energy sources to cater to the increasing electricity requirements of the growing global population will further fuel the industry expansion.

The medium voltage composite insulators market will progress steadily due to the need for reliable power supply, the increasing investment in development of transmission & distribution infrastructure in various economies and the advantageous features of the product. The ability of these units to offer durability, lightweight construction, resistance to vandalism, and optimized hydrophobicity will drive the production and adoption of medium composite insulators. Furthermore, the growing emphasis on upgrading the prevailing T&D infrastructure in both developed and emerging economies to ensure the safe and efficient delivery of power will positively influence the market dynamics.

Composite Insulators Market Size, By Application, 2021-2032, (USD Billion)

Composite insulators across transmission lines have witnessed a significant momentum owing to the reliable operation of transmission lines, helping to meet the growing demand for electricity while ensuring the integrity of the power grid. These units are one of the vital components as they provide superior insulation properties compared to traditional ceramic or porcelain insulators. The ability to offer excellent electrical insulation capabilities, helping to prevent leakage current and enhance the overall performance of transmission lines, further contributing to the product deployment. Moreover, beneficial operational advantages including improved insulation, lighter weight, resistance to environmental factors, reduced flashover risk, and enhanced durability contribute to the product demand.

The composite insulators market demand across commercial and industrial segment is driven by increasing investments in the real estate and commercial sectors, coupled with the rapid urban population growth. Government regulations favoring energy-efficient infrastructures and the emphasis on establishing wide-ranging frequency distribution links will garner the positive industry outlook. However, regulators are increasing spending on electrical infrastructure to meet the growing power supply demand from the industrial sector. This, in turn, will stimulate the product usage, providing additional opportunities for market expansion. Overall, the combination of investments in the commercial and industrial sectors, favorable government regulations for energy efficiency, and increased spending on electrical infrastructure will significantly enhance the industry statistics.

Composite Insulators Market Revenue Share, By Product, 2022

The pin composite insulators market is expected to experience significant growth owing to its robust applicability across overhead lines for voltage ratings of up to 33 kV along with its growing integration across sub-transmission & distribution networks. The ability of these units to deliver anti-fog performance, operational flexibility, and ease of manufacturing are some of the key parameters which will further cater to the industry landscape. The widespread requirement of these units in low-voltage transmission and distribution line applications will also play a crucial role in boosting the overall product adoption.

The shackle composite insulators market will foresee tangible growth, driven by the rapid pace of industrialization and urbanization. The increasing investments in the development of new electrical networks and smart grid systems will fuel the product demand by 2032. Additionally, strict government regulations aimed at reducing transmission and distribution losses will positively impact the industry's progression. The growing emphasis on the implementation of long-distance transmission lines with low loss, will enhance the product espousal.

The 33 kV composite insulators market is projected to grow steadily on account of their applicability across wide range of applications in the power and infrastructure sectors.  Accelerating investments aimed at supporting the expansion of electrical networks across commercial and residential infrastructures will drive the demand for these insulators. In addition, the rapid development of micro-grid networks, which require efficient and reliable insulation solutions are contributing to the industry development. Also, the expanding and developing power and infrastructure sectors, along with the rapid deployment of renewable integrated microgrid networks, will positively impact the industry outlook.

Asia Pacific Composite Insulators Market Size, 2021 – 2032, (USD Billion)

The Asia Pacific composite insulators market crossed a valuation of USD 1.1 billion in 2022. The regional industry is anticipated to observe significant momentum on account of the growing population, increasing power generation capacity, and elevating demand for efficient and reliable electricity in several emerging nations across the region. Respective governments have introduced several beneficial policies for the promotion of increase power generation capacities coupled with rapid development of T&D industry is set to accelerate the industry outlook.

Hence, the accelerating investments and expenditure toward the development of T&D networks and expansion of energy grid networks across remote areas have led the industry participants to introduce enhanced technological systems further complementing the industry landscape.

Composite Insulators Market Share

Major companies operating across the composite insulators market are actively engaged in forming strategic alliances, partnerships, and mergers and acquisitions to enhance their industry presence and drive technological innovations. These initiatives enable major players to leverage each other's expertise, resources, and technologies to introduce new and advanced products in the market. By forming alliances and partnerships, companies can collaborate on research and development activities, and expand their market reach along with mergers and acquisitions will assist companies to consolidate their position in the market, acquire new capabilities, and gain a competitive edge.

Key manufacturers in the composite insulators marketplace include:

  • ABB
  • General Electric
  • Siemens Energy
  • LAPP Insulators GmbH
  • Seves
  • GIPRO GmbH
  • Bharat Heavy Electricals Limited (BHEL)
  • Olectra Greentech Limited
  • TE Connectivity
  • Hitachi Energy Ltd
  • PFISTERER Holding AG
  • Hubbell
  • Gamma Insulators
  • Newell Porcelain
  • Peak Demand Inc
  • INAEL Electrical Systems
  • Deccan Enterprises Private Limited
  • Taporel Electrical Insulation Technology Co., Ltd
  • CYG Insulator Co, Ltd
  • Izoelektro

Composite Insulators Industry News

  • In April 2022, PFISTERER Holding AG stared a new facility in Switzerland. The operations in Altdorf will be limited to the high-voltage laboratory and the services area, including training and assembly. The decision to merge the two locations is aimed at establishing a new sales and technology center in Küssnacht, which will involve significant investment and enhance the overall competitiveness of the PFISTERER Group.
  • In April 2021, Olectra Greentech received an order worth USD 4 million to deliver composite long rod insulators. The company’s domestic order to deliver composite insulators with a voltage rating of 765 kV was awarded from an Indian power transmission company whereas the international purchase request to provide 15 KV to 35 KV capacity insulators was placed by an organization present across the U.S.

This composite insulators market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2019 to 2032 for the following segments:

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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 regions and countries:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Russia
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
  • Latin America
    • Brazil
    • Argentina


Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of composite insulators was exceeded USD 2.4 billion in 2023 and will observe 6.9% during 2024 to 2032, owing to the grid modernization efforts, coupled with the government initiatives aimed at replacing unreliable infrastructures to reduce power interruptions.

The medium voltage composite insulators industry share will grow significantly by 2032, on account of benefits offered by the product, such as durability, lightweight construction, resistance to vandalism, and optimized hydrophobicity.

Asia Pacific composite insulators sector was worth over USD 1.1 billion in 2022 and is anticipated to observe significant momentum by 2032, backed by the growing population, increasing power generation capacity, and elevating demand for efficient & reliable electricity in several emerging nations across the region.

ABB, General Electric, Siemens Energy, LAPP Insulators GmbH, Seves, GIPRO GmbH, Bharat Heavy Electricals Limited (BHEL), Olectra Greentech Limited, TE Connectivity, Hitachi Energy Ltd., and PFISTERER Holding AG among others.

Composite Insulators Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 739
  • Countries covered: 19
  • Pages: 450
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