Global Composite Insulators Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Composite Insulators Market grew at a CAGR of 5.4% between 2017-2021 and is estimated to be US$ 2,561.4Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 6.2% and is expected to reach a valuation of US$ 4,674.4Mn by 2032 end.
The government’s efforts to replace faulty infrastructure and grid modernization together will fuel the growth of the composite insulators industry. The business dynamics will be favorably impacted by regulatory authorities encouraging investments and a supportive regulatory framework for the acceptance of reliable and enduring insulators. Additionally, upgrading and replacing current and outdated electrical systems will support industry expansion.
ChemView Consulting has analyzed that power distribution networks are being expanded globally to increase power generating capacity and meet rising energy demand, resulting in the global adoption of composite insulators in the commercial, residential, and industrial sectors. These factors are anticipated to fuel the expansion of the combined insulator market throughout the anticipated period, along with the numerous applications for composite insulators.
The lightweight, resilience, excellent hydrophobicity, and vandal resistance of medium voltage composite insulators are driving factors in demand. Throughout the projection, the medium voltage category is anticipated to increase the fastest. The factors influencing utilities’ large outlays for long-distance power transmission will continue to shape the composite insulators industry.
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Segments Covered in Report
By Power Rating:
- <11 kV
- 11 kV
- 22 kV
- 33 kV
- 5 kV
- 145 kV
- 220 kV
- 400 kV
- 800 kV
- 1200 kV
- Commercial & Industrial
- Cables & transmission lines
- Bus bars
- High voltage
- Medium voltage
- Low voltage
- Pin insulators
- Suspension insulators
- Shackle insulators
- Other insulators
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Global Composite Insulators Market
- Based on the voltage, the lightweight, resilience, excellent hydrophobicity, and vandal resistance of medium voltage composite insulators are driving factors in demand. Throughout the projection, the medium voltage category is anticipated to increase the fastest. The factors influencing utilities’ large outlays for long-distance power transmission will continue to shape the composite insulators industry.
- Based on the product, through 2032, growth in the Suspension Insulators product is anticipated to average 6% per year. The product will continue to be used in overhead lines for voltages up to 33 kV, and distribution and sub-transmission lines will favor it, which will affect the expansion of the composite insulators market. High anti-fog performance, operational flexibility, and ease of manufacture are the only key factors influencing the global market acceptability of composite insulators.
- Based on the region, the market for MEA composite insulators is anticipated to grow over $1 billion, with a market share of 29.7%. The market demand will be fueled by the shifting preference for the support mechanisms and endowments provided by state-owned utilities to grow T&D infrastructure.
Key companies covered in the market study are General Electric, Siemens Energy, Bharat Heavy Electricals Limited (BHEL), ABB, INAEL Electrical Systems, Spark Insulators, Saravana Global Energy Limited, Deccan Enterprises Private Limited, Olectra Greentech Limited, GIPRO GmbH, TE Connectivity, Newell, Meister International, CYG Insulator Co., Ltd., Izoelektro, Doubletree Systems, Inc., Lapp Insulators Group.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
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