Glass Insulator Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3765
Glass Insulator Market size is driven by increasing investments to renovate the existing grid infrastructure across developed countries in line with the ongoing integration of smart grid technology. Advanced expenditure for the grid networks modernization in line with regulatory measures to reinstall unreliable network in order to curb power interruptions will further augment the industry dynamics. The Federal Energy Regulatory Commission specified that the electric companies across the U.S. made investments worth USD 160 billion to develop new transmission and distribution architecture from 2013 to 2016.
Rising prominence toward the development of grid networks coupled with soaring investments by government authorities for the expansion of effective electric network will complement the glass insulator market size. The Canada Infrastructure Bank (CIB) in accordance with the local & provincial regulatory bodies authorized a fund allocation worth USD 35 billion to enhance the country’s traditional grid network. Paradigm shift toward cost-competitive sustainable energy sources electricity generation for the abruptly increasing population will further stimulate the industry outlook.
Ongoing enhancement of transmission network to avail reliable and safe power across emerging countries will escalate the glass insulator market growth. Significant investments by various utilities for long-route electricity transmission will further energize the industry dynamics. Compact size, higher resistance along with greater mechanical compressive strength when compared to ceramic insulators are the key features positively influencing the business potential.
Transmission lines & cables will witness growth owing to rising advancement of HVDC lines. Increasing legislative funding for the development of cross-border transmission units will further propel the glass insulator market. Ability of these units to minimize the current leakage and capability to endure conductor load will integrate a favorable business scenario.
Rising demand for lightweight & reliable glass insulators for incorporating a sustainable production mechanism will stimulate the product deployment. Rapid expansion of residential establishments in line with ongoing urbanization will positively sway the glass insulator market. Moreover, the operational sustainability of these units to operate across diverse environments will complement the industry landscape.
Government initiatives toward clean energy economy and sustainable power integration will boost the glass insulator market. Support mechanisms & endowments offered by state-owned utilities for the development of transmission & distribution network will further propel the industry potential. In 2016, the State Grid Corporation of China declared to develop the electrical transmission network of the region by rising its fund flow by 28% over next five years.
Eminent industry players operating across the glass insulator market includes Lapp Insulators, SEVES, NGK-Locke, TE, General Electric, ABB, Hubbell, Victor, Siemens, MacLean Power Systems, INAEL Electrical and Meister International.
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