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Electric Insulator Market Size, By Material (Ceramic/Porcelain, Glass, Composite), By Voltage (High, Medium, Low), By Application (Cables & Transmission Lines, Switchgears, Transformers, Busbars), By Product (Pin, Suspension, Shackle, Other Insulators), By End-Use (Residential, Commercial & Industrial, Utilities), By Rating (< 11 kV, 11 kV, 22 kV, 33 kV, 72.5 kV, 145 kV, 220 kV, 400 kV, 800 kV, 1,200 kV), By Installation (Distribution, Transmission, Substation, Railways), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI1272
  • Published Date: Mar 2022
  • Report Format: PDF

Industry Trends

Electric Insulator Market size exceeded USD 4.5 billion in 2021 and projected to expand at over 6% CAGR from 2022 to 2028. Growing measures to ensure safety & stability along with the increasing electric infrastructure spending across power grid applications will spur the market demand.
 

Electric Insulator Market Overview

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The refurbishment & replacement of existing networks primarily across the emerging economies will drive the business scenario. Additionally, stringent government policies toward the development of sustainable electrical networks to increase power generation through clean energy sources will favor the industry expansion.
 

The COVID- 19 crisis has impacted the market operations globally as it resulted in delayed operations, manpower shortages, and supply chain disruptions, amongst others. However, the upliftment of government protocols for global movement and the introduction of several vaccination drives have put the industry operations back to normalcy. In addition, the need to supply power during emergency cases in healthcare and critical power generation facilities has positively impacted the business dynamics.
 

Strong demand for ceramic insulators along with customer inclination toward utilization of high-end products will fuel the market growth

Electric Insulator Market Size

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The ceramic electric insulator market is anticipated to reach USD 2.5 billion by 2028 due to the ability of these units to provide optimal mechanical strength, enhanced hydrophobicity properties, lower leakage current, and significant stress resistance.
 

Moreover, these insulators are poised to register a substantial adoption owing to its excellent insulation quality, elevated fire temperature ratings, optimized durability, and cost-effective availability. The introduction of new government schemes & funding for establishing long electrical networks will propel the industry demand.
 

Expansion of transmission & distribution networks will foster the market value

The medium voltage segment is predicted to observe a 5.8% growth rate till 2028. Ongoing investments toward R&D activities by major industry players to increase the insulation & tensile strength, material density, and expansion coefficient will positively sway the product penetration. Legislative ventures to expand power infrastructures coupled with the increasing urbanization & commercialization will surge the industry growth.
 

Robust development of high-voltage transmission networks coupled with the ongoing advancements in grid infrastructures will boost the high voltage electric insulator market. A paradigm shift toward renewable energy generation including the deployment of large wind & solar based projects will further fuel the industry landscape. Moreover, favorable government norms, policies, schemes, and rebates toward the installation of sustainable power sources will augment the business scenario.
 

Advancement of pin electric insulators across transmission & distribution lines will favor the market progression

The pin insulators segment is expected to attain a CAGR of 5.7% through 2028. This insulator is generally used in 33kV power distribution systems and is made up of glass. They are used in applications across sub-transmission & distribution lines including single- & multi piece as conditioning on the voltage applications. The product offers key advantages including availability of multi-piece construction, high reliability, and ease of installation, stimulating the industry value.
 

Ongoing development of grid networks across remote areas will positively influence the market expansion

The electric insulator market across utilities is estimated to grow on account of escalating investments & expenditures for the expansion of utility infrastructures and transmission networks across remote locations. Upsurge in research & development activities toward modernizing the grid structure to meet the increased electricity demand will boost the industry progression. Furthermore, the integration of smart grid technologies favored by numerous rollout schemes will augment the market trends.
 

The commercial & industrial sector is predicted to grow significantly impelled by the integration of large-scale renewable generation through enhanced monitoring of power systems and consumption of efficient energy systems. By 2023, 65% of electricity companies will be investing in the digital technologies and related platforms to support flexibility services, thereby stimulating a load possibility of up to 35% in terms of installed capacity (IDC).
 

Additionally, the ongoing efforts toward micro-grid establishments to support distributed energy generation with clean energy resources will further support the industry outlook.
 

Surging deployment of micro grid networks across developing countries will propel the market revenue

Ongoing acceptance of micro grids along integration of renewable energy resources will stimulate the electric insulator market growth. Ongoing digitalization with the growing usage of smart artificial intelligence systems will augment the business landscape. The soaring demand for grid modernization coupled with the stringent energy efficiency protocols toward sustainable network expansion will considerably spur the product demand.
 

Ongoing trends toward the integration of advanced networks to meet the challenges of increasing energy demand, aging power grid and spiraling cost of generating electricity will substantially foster the market demand.
 

Development of smart grids will accelerate the industry dynamics

The increasing demand for smart grid structure along with stringent energy-efficiency protocols will energize the industry progression. The smart grid adoption will also open new markets for small and large-scale alternative energy producers to decentralize generation. Regional framework to support the objectives of policies include channelizing investments toward an adaptable and stable grid to meet the rising energy demand.
 

The establishment of a reliable transmission grid support system along with the development of cost-effective products will complement the industry revenue.
 

The transformer application will gain considerable momentum attributed to the increasing proportion of renewable energy

The transformer application is slated to witness noteworthy growth due to the government national renewable targets and the replacement of conventional electrical networks. The utilities have been majorly focusing on grid upgrades and expansion to sustain the growing renewable mix. Favorable policies including incentives, leveraging schemes, feed-in tariffs, and subsidies to promote the deployment of clean energy sources, will in turn further escalate the business growth.
 

APAC region is set to dominate the overall market share

APAC Electric Insulator Market

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The Asia Pacific electric insulator market held a 45% of revenue share in 2021. Growing investments in the development of new & improved power generation facilities to meet the energy demand. In addition, the rapid consumption of electricity by end consumers and several other industries including oil & gas, power generation, mining & metals have led to the development of energy networks on a large scale. Furthermore, the upgrade & refurbishment of electrical grid networks to cater to the energy demand across developing nations will accelerate the industry value.
 

Product innovations & developments will act as a key point for market participants

Major manufacturers operating across the market are ABB, GE, Siemens Energy, Lapp Insulators Group, Seves, Bharat Heavy Electricals Limited, GIPRO GmbH, Olectra Greentech, Doubletree Systems, TE Connectivity, Hitachi Energy, Hubbell, Gamma Insulators, Newell, Peak Demand, Meister International, Zhengzhou Orient Power, INAEL Electrical Systems, Spark Insulators, Saravana Global Energy, INCAP, GK Xianghe Electricals, Deccan Enterprises, TAPOREL, CYG Insulator, Izoelektro, Elsewedy Electric, Southwire Company and NGK INSULATORS.
 

The electric insulator market research report includes in-depth coverage of the industry with estimates & forecasts in terms of “USD” from 2018 to 2028 for the following segments:

Market, By Material

  • Ceramic/Porcelain
  • Glass
  • Composite

Market, By Voltage

  • High
  • Medium
  • Low

Market, By Application

  • Cables & 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
  • 22 kV
  • 33 kV
  • 72.5 kV
  • 145 kV
  • 220 kV
  • 400 kV
  • 800 kV
  • 1200 kV

Market, By Installation

  • Distribution
  • Transmission
  • Substation
  • Railways
  • Others

The above information has been provided for the following regions & countries:

  • North America 
    • U.S.
    • Canada
    • Mexico
    • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Sweden
    • Austria
    • Russia 
  • Asia Pacific 
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Philippines
    • Thailand
    • Malaysia 
  • Middle East & Africa 
    • Saudi Arabia
    • UAE
    • Iran
    • Jordan
    • Turkey
    • Egypt
    • Nigeria
    • South Africa 
  • Latin America 
    • Brazil
    • Argentina
    • Chile

 

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The global market size of electric insulator surpassed $4.5 billion in 2021 and is predicted to record more than 6% CAGR during the forecast timeline of 2022-2028.

The ceramic electric insulators is anticipated to reach $2.5 billion by 2028 as these units cause lower current leakage, offer great mechanical strength, improve hydrophobicity properties, and provide higher resistance to stress.

The medium voltage electric insulators may observe 5.8% CAGR through 2028 due to the heavy investments in R&D to improve the overall electricity infrastructures of various countries.

Pin electric insulators will register a steady CAGR of 5.7% till 2028 as they are widely used in 33kV power distribution systems and have several benefits, such as high reliability, availability of multi-piece construction, and ease of installation, among others.

The Asia Pacific market captured around 45% of the revenue share in 2021 as governments are heavily investing in the development of new and improved power generation systems to meet the rising electricity demands.

Lapp Insulators Group, Seves, Bharat Heavy Electricals Limited (BHEL), ABB, GE, Siemens Energy, and Doubletree Systems, among many others, are the major participants of this industry.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 29
  • Tables & Figures: 773
  • Countries covered: 31
  • Pages: 490

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