Electric Insulators Market Size By Material (Ceramic/Porcelain, Glass, Composite), By Voltage (High, Medium, Low), By Application (Cables and transmission lines, Switchgears, Transformers, Busbars), By Category (Pin, Suspension, Shackle), By End Use (Residential, Commercial & Industrial, Utilities) Industry Analysis Report, Regional Outlook (U.S, Canada, Mexico, UK, Germany, France, Spain, Italy, Sweden, Austria, Russia, China, Japan, India, South Korea, Australia, Indonesia, Philippines, Thailand, Malaysia, Saudi Arabia, UAE, Iran, Kuwait, Jordan, Turkey, Egypt, Nigeria, South Africa, Brazil, Argentina, Chile, Venezuela), Application Potential, Competitive Market Share & Forecast, 2017 – 2024
Published Date: January 2018 | 400 Pages | Report ID: GMI1272 Report Format: PDF
Electric Insulators Market size for 2016 was valued over USD 4 billion and is set to witness an annual installation of over 1 billion units by 2024.
Europe Electric Insulators Market Size, By Material, 2016 & 2024 (Million Units)
Increasing investments toward upgradation of existing grid networks in developed nations coupled with growing adoption of smart grid technology will significantly drive the market. Rapid urbanization coupled with increasing expenditure toward development of electrical infrastructure will further stimulate the product demand. According to the World Energy Outlook, USD 3.4 trillion of the total T&D investments contribute to the replacement and refurbishment of existing assets.
Exponential increase in the consumption of electricity coupled with growing focus toward addition of power generation capacity will stimulate the market share. Government measures toward expansion of grid networks for necessitating the infrastructure buildout in developing nations will further augment the industry growth. According to the World Bank, around 55% of the total T&D investment across the Asia Pacific and Africa will be driven by the need to extend transmission lines to 75 million km.
Electric Insulators Market, By Material
Porcelain insulators market is predicted to exceed USD 2 billion by 2024. These are considered as mature products and are constantly being replaced by their polymeric counterparts. However, they hold apparent market dominance in regard to the only accepted technology due to conservatism in certain areas of the world.
Composite insulators market is anticipated to witness appreciable growth on account of its wide applicability in transmission and distribution voltage ranges. The primary impetus for their increased adoption by power utilities offer considerable advantage over inorganic insulators.
Electric Insulators Market, By Voltage
Medium voltage in 2016 accounted for over 25% of global electric insulators market share. The wide applicability across commercial and residential establishments will propel the industry growth. Favourable power distribution reforms coupled with increasing commercialization will further augment industry outlook.
High voltage electric insulators market is set to grow owing to expansion of transmission networks to integrate a sustainable electric infrastructure across developing regions. Expansion of HVDC lines to meet the increasing demand for reliable electricity along with favourable electricity reforms will further complement the business landscape.
Electric Insulators Market, By Application
Cables and transmission lines are set to grow owing to rising energy demand coupled with favourable inclination toward the expansion of cross border transmission network. Increasing focus toward deployment of HVDC lines for reduction of energy losses will further boost the electric insulators market size.
In 2016, transformers accounted for 19% of global electric insulators market share. Ongoing expansion of existing grid networks in developing nations and refurbishment of aging infrastructure across developed nations will foster the product demand. The introduction of smart transformers to ensure effective monitoring and control of T&D networks will further embellish the industry landscape.
Electric Insulators Market, By Product
Pin Insulators are projected to grow over 5% by 2024. These products find applications in sub transmission and distribution lines and can be multi-piece and single-piece, depending on the application voltage. They are primarily used for voltages up to 33 kV.
Suspension insulators market is predicted to grow pertaining to its large-scale integration across high voltage areas. These insulators are used for voltages beyond 33 kV and are economical when compared with available counterparts. The product consists of a series of discs connected in the form of a string by metal rings.
Electric Insulators Market, By End-Use
Utilities in 2016 accounted for over 30% of the global electric insulators market share. Ongoing development of grid networks to fulfil the rising energy demand coupled with investments toward the integration of smart grid technologies will boost the business landscape. Increasing investments from institutions comprising International Finance Corporation and World Bank attributable to requirement of new T&D infrastructure will further complement the business outlook.
Residential electric insulators market is set to grow owing to rising energy demand coupled with rapid urbanization across developing regions. Increasing focus toward micro-grid establishments for renewable energy integration will further stimulate the industry growth.
Electric Insulators Market, By Region
China electric insulators market is predicted to reach over 200 million units by 2024. Significant focus on expansion and upgradation of their existing electrical network coupled with favourable reforms ensuring energy efficiency will stimulate the product demand. In 2016, State Grid Corporation of China plans to invest 28% more to expand its power transmission network over the next five years.
Ongoing technological advancements along with deployment of reliable grid support mechanism will stimulate the U.S. electric insulators market. The Federal Energy Regulatory Commission reported transmission expenditures to be increased to about USD 15.9 billion in 2015 increasing by USD 5.8 billion in 2006.
Competitive Market Share
Eminent industry players in the electric insulators market include ABB, General Electric, Siemens, Lapp Insulators, Hubbell Incorporated, NGK Insulators, Aditya Birla Nuvo Ltd., Seves Group, Maclean Fogg, BHEL, Elsewedy Electric and TE Connectivity among others.
Extensive investments toward R&D for the development of cost effective and light weight insulators along with M&A has been a key strategic inference by leading industry participants to propel the product deployment.
Electric Insulators Industry Background
Electrical Insulators are materials that prevent the flow of unwanted current to the earth from supporting points of electrical systems. Insulators are used in electrical systems to separate and support electric conductors by providing a very high resistive path to the flow of current. The insulators find applications in electric network to provide electrical and mechanical support.
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