Electric Insulator Market Size, Share and Global Trend By Material (Ceramic Insulator, Composite Insulator, Glass Insulator), By Voltage (Low, Medium, High), By Product Type (Pin, Suspension, Strain, Shackle, Others), By Application (Surge Protection Device, Cables, Switchgear, Transformer, Busbar, Others) and Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
Demand for electricity is multiplying on account of the increasing population and increasing power consumption per capita. Stable and reliable supply of electricity is key to the development of all countries. Distribution of electricity is carried out in a variety of places; right from power generation units to commercial establishments. Electric insulators are mandatory for the distribution of electricity. Electrical insulators have become necessary because it ensures the safety of both man and machine.
Insulators are not conducive to electrical energy. Insulators have high resistivity and low conductivity. Insulators are used in every electrical circuit. Insulators avoid leakage of current and ensure the safety of humans and stable operation of an electric circuit. Insulators are used for isolation and avoid external disturbance of electrical equipment and circuits. Electrical insulators in power transmission lines are used as mechanical support. Electrical insulators used in power transmission lines should be able to withstand stresses.
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Electrical insulators can be made of ceramic, composite, and glass type materials. Based on voltage, the electric insulator can be segmented as low, medium, and high voltage. Based on product type, electrical insulators can be divided into Pin, Suspension, Strain, Shackle type, and Others. Electric insulators are used in power transmission cables, switchgear, transformers, busbar, and others.
The primary market driver for the global electric Insulator market is the increasing demand for a stable and reliable supply of power distribution. Modernization of existing electrical infrastructure will boost demand for electric insulators. The rising electrification of developing countries will spur the demand for insulators used in electric infrastructure.
The critical market restraint for the global electric insulator market is the oscillating price of raw materials. The cost of raw material fluctuates due to the difference in supply and demand. Tariffs and trade restriction play also play a significant role in increasing prices of raw material.
Key Players Covered
Some of the major companies that are present in the Electric Insulator market are ABB, Siemens Energy, GE Grid Solutions, Hubbell Power Systems, NGK Insulators, Ltd., Aditya Birla Insulators, MacLean-Fogg Company, Elsewedy Electric, Seves Group, BHEL, TE Connectivity, Modern Insulators, and Almatis GmbH.
SEGMENTATION
SEGMENTATION | DETAILS |
By Material | · Ceramic Insulator · Composite Insulator · Glass Insulator |
By Voltage | · Low · Medium · High |
By Product Type | · Pin · Suspension · Strain · Shackle · Others |
By Application | · Surge Protection Device · Cables · Switchgear · Transformer · Busbar · Others |
By Geography | · North America (the USA and Canada) · Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe) · Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific) · Latin America (Brazil, Mexico, and Rest of Latin America) · Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa) |
Regional Analysis
Based on the region, the electric insulator market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The government of the USA has taken the initiative to modernize, upgrade, and refurbish aging electrical infrastructure. Similar efforts are made in Europe, China, Australia, and Canada. Such actions are expected to boost demand for the electrical insulator market. The introduction of long-distance high voltage transmission all over the world has spurred the need for electric insulators. Electrification in developing countries of Latin America, Asia-Pacific, Middle-East, and Africa will raise the market of the electrical insulation shortly. The emergence of renewable power generation projects in Europe, Asia-Pacific, Middle-East, and Latin-America has increased the need for the electric insulator market.
Key Industry Developments
- In 2019, ABB has released a DC-based power distribution system known as Onboard Microgrid to help smaller vessels improve fuel efficiency.
- In 2019, Siemens has signed an agreement with the Egyptian Electricity Transmission Company (EETC) to supply the country’s first digital power transformer – Siemens’ Sensformer.
- In 2019, Larsen & Toubro (L&T) has bagged a turnkey contract for building a power generation project worth over Rs 7,000 crore.
- Ongoing
- 2023
- 2019-2022
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