Composite Insulators Market Size, Share and Global Trend By Product (Pin, Suspension, Shackle, Others), By Voltage (Low Voltage, Medium Voltage, High Voltage), By Installation (Transmission and Distribution, Substation, Railways, Others), By Application (Transmission lines, Switchgear, Transformers, Busbars, Others), and Regional Forecast, 2024-2032

Electrical insulation is among the key criterion for the transmission and distribution of electric power. Electric power generated from the thermal power plants, hydroelectric power plants, and nuclear power plants, among others transported to the different end users through transmission lines and distribution channels. These transmission lines and distribution channels need proper insulation for preventing losses.

To meet the requirement, manufacturers have developed different insulators such as ceramic insulator, composite insulators, and suspension insulators, among others. The composite insulators are polymeric insulators manufactured from the silicone polymerized rubber and possess excellent thermal resistance, optical properties, mechanical properties, and expansion.

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Based on product, the composite insulators are bifurcated as a pin, suspension, shackle, and others. The application of the composite insulator types depends on the voltage ranges of the transmission lines. For instance, the suspension type of composite insulator is used in the overhead transmission lines for a voltage range of 10 to 800 kV while the dead-end composite insulator is used in the terminal of the pole or tower with a voltage range between 15 to 70 kV. By voltage, the composite insulators are bifurcated as low voltage, medium voltage, and high voltage composite insulators.

The low and medium voltage composite insulators are expected to dominate the composite insulator market. In the application segment, the composite insulators find primary application in rail transmission lines, switchgear, transformers, busbar, and others. Wherein, the power transmission and distribution applications are expected to hold the lion's share in the composites insulators market by end-use.

Composite insulators are used for different types of power systems and have applications in the power transmission and distribution lines. The growing population has created a demand for energy owing to which the power transmission and distribution sector is expected to grow steadily. The growth of the power transmission and distribution sector is expected to drive the composite insulators market during the forecast period. The composite insulators are widely used in the rail transportation industry, and the growth of the rail transportation industry is expected to boost the sale of composite insulators in the coming years.

The composite insulators are prone to chemical changes when exposed to the atmosphere. The changes in the climatic conditions affect the chemical structure of the composite insulators and thus reduce the efficiency of the insulation which in turn is expected to have a negative impact on the growth of composite insulators market.

Key Players Covered

Some of the major companies that are present in the global composite insulators market are DowDuPont Inc, ABB Group, Olectra Greentech Ltd., Radpol S.A., Yamuna Power and Infrastructure Ltd., Wish Composite Insulator Co., Ltd, Safdar Sassani Co., Zhengzhou Orient Power Co., Ltd, Dalian Composite Insulator Co., Ltd, Saver S.p.A, FCI Composite Insulator Ltd., Mettz Group, Positron Inc., Nanjing Electric Group Co., Ltd, Zhejiang Golden Phoenix Electrical Co., Ltd, Grasim Industries Limited, and Excel Composites Oyj.

SEGMENTATION

Regional Analysis

The global composite insulators market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region has witnessed substantial growth in the electrical industry in recent years. The rail transport industry in the region is also growing at a high rate owing to which the composite insulators market is expected to grow at a decent pace in the North America region. The Europe region has witnessed a high growth in the rail transport industry owing to the latest developments, which include the launch of high-speed trains for the Paris-Brussels and the Madrid-Seville routes. Owing to the growth of the rail transport industry in Europe, the composite insulators market is expected to grow at a high rate in the region. The Asia Pacific region is expected to provide lucrative opportunities for the growth of the composite insulators market owing to the rapidly growing rail transport industry in India, Japan, and China. The composite insulators market in the Middle East and Africa region is expected to witness a decent growth owing to the growing power transmission and distribution industry in the region which is driven by the installation of new solar photovoltaic plants in the Middle East and Africa region. Latin America region has a moderately growing rail transport industry, which is expected to provide steady growth for the composite insulators market in the region.

Key Industry Developments

• In June 2019, the government of Thailand announced the signing of a US$ 7.2 billion rail project would be completed in the next month. The government has planned to construct a high-speed rail track joining the Don Mueang, Suvarnabhumi, and U-Tapao airports. This is expected to increase the demand for the composite insulators in the local market.
• In June 2019, Cricket Valley Energy Centre LLC announced 75.6% completion of its 1,100 MW natural gas-fired power plant in Dover. The project is expected to add in the demand for the composite insulators.
• In March 2019, Wish Composite Co., Ltd won bidding for the supply of composite insulator and protection device for cable lightening for the high-speed train power supply. The company is expected to supply the required components for the Xi’an Metro Co., Ltd.