High Voltage Composite Insulators Market Size - By Application (Cables & Transmission Lines, Switchgears, Transformers, Bus Bars), By End Use (Commercial & Industrial, Utilities), By Rating & Forecast, 2024 - 2032

High Voltage Composite Insulators Market Size

High Voltage Composite Insulators Market was valued at USD 846 million in 2023 and is set to grow at over 6.9% CAGR from 2024 to 2032. Ongoing efforts for grid modernization and government initiatives to replace unreliable infrastructures, reducing power interruptions will significantly contribute to industry expansion.
 

For instance, in November 2023, the European Commission introduced an Action Plan designed to enhance the efficiency, expansion, and rapid deployment of electricity grids. Building upon an existing supportive legal framework for grid rollout in Europe, the plan specifically tackles key challenges related to the digitization, and improved utilization of the EU electricity transmission and distribution grids. Moreover, increasing demand for energy-efficient units coupled with the ongoing replacement of traditional electrical components for smoother and more reliable transmission operations, will further propel the industry growth.
 

COVID- 19 Impact

The COVID-19 pandemic adversely impacted the market size, causing disruptions in manufacturing, facility closures, labor shortages, restricted product deployments, and disruptions in supply chain network. Despite these challenges, collaborative efforts by manufacturers and government authorities to implement new measures aimed at lifting restrictions and ensuring uninterrupted production output, positively contributed to the industry's growth.
 

High Voltage Composite Insulators Market Trends

The high voltage composite insulators industry is set to grow significantly owing to their strong sustainability and cost-effectiveness. These components play a crucial role in providing reliable, clean, and affordable power across global transmission and distribution networks. Governments are actively enhancing electrical infrastructure, driving demand for more reliable alternatives. Moreover, paradigm shift towards adoption of smart grids to meet the rising electricity needs of increasing global population will augment the industry landscape.
 

High Voltage Composite Insulators Market Analysis

Cables & transmission lines application dominated over 30% market share in 2023 and have gained substantial traction on account of their role in ensuring reliable operations, catering to the rising electricity demand, and maintaining power grid integrity. HV composite insulators have exceptional insulation capabilities effectively to prevent leakage current, thereby boosting overall transmission lines performance. Additionally, their operational benefits, including improved insulation, environmental resistance, lighter weight, reduced flashover risk, and enhanced durability, significantly increase the product demand.
 

The > 220 kV to ≤ 400 kV segment is projected to witness around 7% CAGR between 2024 and 2032 on account of rising investments for expansion of high voltage transmission networks driven by rapidly growing urban population. Government regulations supporting energy-efficient infrastructures and the push for extensive frequency transmission links further boost the industry outlook. Public & private utilities widely deploy these units to enhance the efficiency and resilience of their power infrastructure as these insulators offer improved insulation properties, reduced flashover risk, resistance to environmental factors, and enhanced durability. Rising spending on grid infrastructure to meet increasing electricity demand is set to drive the product adoption.
 

Asia Pacific high voltage composite insulators market is set to reach USD 700 million by 2032, attributed to the population expansion, rising power generation capacity, and increased demand for efficient & reliable electricity across emerging nations. Respective governments implemented favorable policies to promote increased power generation capacities, and rapid development of the transmission and smart grid networks will further drive industry outlook. Moreover, substantial investments for the development of HV networks and expansion of energy grid systems in remote areas, positively shaping the high voltage electric insulators industry landscape.
 

High Voltage Composite Insulators Market Share

Key manufacturers in the high voltage composite insulators industry are strengthening their position across the industry as companies are actively pursuing strategic alliances, partnerships, along with mergers and acquisitions. Hitachi Energy Ltd., Siemens Energy, PFISTERER Holding SE, TE Connectivity, SAVER S.p.A. and Maschinenfabrik Reinhausen GmbH holds the majority of market share shaping the industry competition dynamics.
 

High Voltage Composite Insulators Market Companies

Key industry players operating across industry include:

• Bonomi Eugenio SpA
• CYG Insulator Co.,Ltd.
• DECCAN ENTERPRISES PRIVATE LIMITED
• Hitachi Energy Ltd.
• KUVAG GmbH & Co KG
• Maschinenfabrik Reinhausen GmbH
• Nanjing Electric Technology Group Co., Ltd.
• Navitas Insulators Pvt Ltd
• PFISTERER Holding SE
• Rayphen
• SAA GRID TECHNOLOGY CO., LTD.
• SAVER S.p.A.
• Siemens Energy
• TE Connectivity
• Vexila (Pty) Ltd. 
• XGCI
• ZheJiang Smico Electric Power Equipment Co.,Ltd.
• Zhongrui Electric Co., Ltd.
   

High Voltage Composite Insulators Industry News

• In December 2022, KUVAG GmbH and DECCAN Enterprises Private Limited have formed a joint venture to establish advanced facility in Hyderabad, India, to produce composite hollow core insulators. The production facility was strategically positioned to meet the growing global demand for composite hollow core insulators, with operations scheduled in mid-2023.
   
• In April 2022, PFISTERER Holding SE inaugurated a new facility in Switzerland. The Altdorf operations will now focus on the high-voltage laboratory and service areas, encompassing training and assembly. This strategic consolidation aims to establish a cutting-edge sales and technology center in Küssnacht, involving substantial investments to bolster the overall competitiveness of the company.
   

This high voltage 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 Application

• Cables & transmission lines
• Switchgears
• Transformers
• Bus bars
• Others

Market, By End-Use

• Commercial & industrial
• Utilities

Market, By Rating

• > 145 kV to ≤ 220 kV
• > 220 kV to ≤ 400 kV
• > 400 kV to ≤ 800 kV
• > 800 kV to ≤1,200 kV
• > 1,200 kV

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