Glass Insulator Market size is anticipated to gain significant momentum over 2021-2027, due to its cost-effectiveness as well as high dielectric and tensile strength as compared to porcelain insulators. Several other benefits like excellent resistivity, low coefficient of thermal expansion, and seamless detection of impurities and air bubbles will further amplify the insulator demand in the years ahead.
Glass insulator refers to an insulator for the power transmission line made of toughened or annealed glass. Insulating glass is capable of preventing significant heat transfer and consists of multiple glass pieces separated by spacers made of either structural foam or metal, including aluminum. The space between this glass can also be filled with noble gas, such as krypton and argon.
Increasing adoption of insulated glass in buildings and the growth of the luxury real estate sector in developing countries are key trends bolstering the glass insulator market forecast. Several modern buildings and houses are equipped with insulated glass windows and doors, due to their energy efficiency, eco-friendliness, better insulation, greater security, and noise reduction capabilities. Additionally, gradual rise in spending of the U.S. electric utilities on power transmission systems is also likely to boost glass insulator installations in the upcoming years.
On the basis of application, the global glass insulator market from the HVAC segment is set to exhibit a strong growth rate through 2027. This is driven by the mounting deployment of toughened glass insulators in heating and cooling applications, owing to their ease of visual inspection, long-term mechanical and electrical reliability, and high residual mechanical strength.
The Asia Pacific is likely to emerge as a lucrative revenue pocket for the glass insulator industry by 2027, as a result of the growing initiatives to expand cross-border power transmission networks, where glass insulators play a key role. In 2021, India commenced cross-border electricity trade on the IEX (Indian Energy Exchange), in line with its efforts to build an integrated regional power market in South Asia. The rapid development of ultra-high voltage power lines across China will also contribute to the rising popularity of glass insulators for electricity applications in the region.
Key industry players operating in the glass insulator market include Meister International, INAEL Electrical, MacLean Power Systems, Siemens, Victor, Hubbell, ABB, General Electric, TE, NGK-Locke, SEVES, and Lapp Insulators (Pfisterer), among others. These companies are focusing on new product launches, acquisitions, and mergers, among other strategies to reinforce their position across the global market.
The ongoing COVID-19 pandemic has emerged as a global crisis, creating a dramatic economic impact on every industry sector, including automotive and utilities. The decline in commercial and industrial activities during the crisis has led to a considerable drop in power demand. Meanwhile, disruptions caused by lockdowns on major power consumers, including railway, have also been observed worldwide. Adverse COVID-19 impacts on electric utilities may create roadblocks to the advancement of grid transmission infrastructures, which in turn, could hamper glass insulator installation to some extent.
Despite the ongoing manufacturing delays and subsequent equipment shortages, there has been a significant spike in HVAC demand from the residential sector, specifically air conditioners, during the COVID-19 crisis. This rise in demand for cooling solutions from residential applications may aid the gradual recovery of the glass insulator industry over the forthcoming years, given the key role of the product in HVAC infrastructures.