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India Electric Insulators Market Trends

Report ID: GMI2830
Published Date: Jul 2023
Report Format: PDF

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India Electric Insulators Market Trends

The significant growth of new investment influx in expanding electric networks coupled with new targets that support the entire value chain of electric power generation, transmission, and distribution will favor the market demand. In addition, rapidly rising energy consumption propelled by the massive population outburst have created encouraging demand for advanced electricity grid equipment. The shifting focus of national administrative bodies towards clean energy generation projects along with introduction of enhanced technologies will further bolster the India electric insulators market outlook.

For instance, in December 2022, the Ministry of New and Renewable Energy, India, confirmed that the overall renewable energy capacity addition totaled over 14.2 GW between January to October 2022 as compared to 11.9 GW during the corresponding period last year. Moreover, the increasing targets for green electricity production, ongoing research & development efforts to enhance T&D technologies, and the expansion of the grid networks industry are some of the key imperatives positively propelling the industry landscape.

Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The market size for electric insulators in India reached USD 420 million in 2023 and is poised to expand at 7% CAGR during 2024 to 2032.

The India composite electric insulators industry is projected to experience a growth rate of over 7.5% through 2032, on account of the increasing need to overcome transmission breakdown and mitigate environmental pollution.

The cables and transmission lines application segment is projected to hold a substantial market share over 2023-2032, backed by the escalating investments to develop new grid infrastructure, coupled with new initiatives to boost the rural electrification rate.

Grasim Industries Limited, Modern Insulators Ltd, Adpro Pvt. Ltd., GR Enterprises, Siemens Energy, Insulators and Electricals Company, Incap Limited, S.C. Electric Company, Olectra Greentech Limited, and Spark insulators.