Porcelain Insulators Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3714
Porcelain Insulators Market size will witness robust growth on account of ongoing electrification programs along with growing investments toward electrification of railway lines. For instance, in September 2018, the Government of India announced to invest worth USD 1.75 billion toward 100% electrification of the railway lines across the country. Furthermore, low manufacturing costs, simple construction and ability to withstand Ultra-Violet (UV) radiations are some of the highlighted factors, stimulating the product demand.
Surging investments toward the refurbishment and replacement of aging electrical infrastructure across the developed economies coupled with the growing adoption of smart grid technologies will drive the porcelain insulators market growth. As per the U.S. Energy Information Administration (EIA), in 2017, major utilities across the country had invested over USD 50 billion toward expansion and strengthening of nation’s distribution networks.
Low voltage porcelain insulators market size is set to grow on account of increasing construction of residential and small-scale commercial establishments along with ongoing rural electrification measures across the developing regions. For instance, in 2018, the World Bank granted a loan of USD 350 million to Nigeria, toward the electrification of educational institutes, households and small enterprises. High mechanical strength, minimal leakage current, corrosion resistance and negligible effect of temperature change are some of the key parameters, positively influencing the product demand.
Growing investments toward the expansion of Transmission & Distribution (T&D) infrastructure to support the ongoing large-scale renewable power integration will propel the high voltage porcelain insulators market growth. Rising focus of utilities toward strengthening and modernization of grid networks along with introduction of ambitious renewable integration target of governments will further complement the industry landscape. For instance, in 2018, Germany has set target to achieve 65% electricity generation from renewable sources by 2030.
Asia pacific porcelain insulators market share will witness appreciable growth on account of growing electricity demand and ongoing rural electrification programs. Proliferating population growth, rapid urbanization, and changing consumer lifestyles are few factors which has propelled demand for electricity across the region. In 2016, as per the Central Electricity Authority (CEA), per capita consumption of electricity in India has reached 1,075 kWh, witnessing a growth of over 35% from 2010. In addition, regulatory efforts toward renewable power integration and clean energy economy will propel the business outlook
North America porcelain insulators market size is set to grow on account of positive outlook toward the replacement and modernization of existing grid infrastructure. As per the U.S. Department of Energy (DOE), the country will require investments worth USD 1.5 to 2.0 trillion between 2010 and 2030, for upgradation and replacement of T&D infrastructure. Furthermore, stringent framework on grid modernization along with ongoing infrastructural investments will positively influence the business growth.
Key players operating across the porcelain insulators market are CJI Porcelain, Meister International, National Switchgears, ZPE ZAPEL, Aditya Birla Insulators, Power-grid Switchgears, PPC Insulators, Yigang Precision Ceramics, Akron Porcelain & Plastics, and Metsch Refractories amongst others.
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