Insulator Market to touch a valuation of USD 14.42 billion by 2025, growing at a 5.38% CAGR | Market Research Future (MRFR)

Pune, Feb. 08, 2021 (GLOBE NEWSWIRE) — The insulator market outlook appears very promising, mainly due to the continually rising global electricity demand. Additionally, the growth in grid infrastructure worldwide and investments toward the refurbishment of aging grid infrastructure stimulate the global electric insulators market size. As per the report – “Emerging Markets Smart Grid: Outlook 2019”, published by the Northeast Group, LLC, at the beginning of 2019, there were around 54.7 million smart grid meters installed across 50 countries worldwide. This number would grow to 323.6 million over the next five years with regulatory targets and other drivers. This shows that the global insulator market is projected to grow at a high rate during the forecast period. According to Market Research Future, the global insulator market is expected to touch a valuation of approximately USD 14.42 billion by 2025, growing at a 5.38% CAGR during the forecast period (2019-2025). The growing uptake of smart grid technology across developed economies would derive sizeable expenditure toward the modernization of electrical infrastructure. COVID-19 Impact:The COVID-19 outbreak severely hit the insulator market industry, causing huge revenue loss. Insulator manufacturers faced various problems ranging from obtaining raw materials and components required to insulate material production and deliver end products to attract workers from quarantines. Electrical wiring jobs, mainly in the governmental and industrial sectors, were postponed due to strict lockdown mandates. With lockdown mandates having the biggest impact on bringing the production facilities to a halt, manufacturers had to cut down on their production output.
Industry Trends:Aging equipment, the increased gap between the demand-supply ratios in electricity distribution, and growing emphasis toward capacity addition of power generation would influence the insulator industry growth. Increasing legislative measures toward the expansion of reliable grid infrastructure in developing nations would further complement the business landscape.Increasing numbers of smart home and smart city projects drive the market growth. Besides, rising demand for insulating materials from government organizations, commercial sectors, automotive & transportation, and construction bolster the market sales. Moreover, the growing awareness about energy efficiency benefits the environment and technology upgrades, rising and improving wireless communication technology boosts smart lighting.Segmentation:The insulator market analysis is segmented into type, voltage, application, end-use, and region. The type segment is sub-segmented into ceramic, glass, and composite. Among these, the ceramic insulator segment holds the largest market share due to the durability of ceramic materials. Ceramic insulators can perform in harsh/rugged environments with minimal leakage and provide optimum mechanical strength with considerable stress resistance. The voltage segment is sub-segmented into low, medium, and high. Among these, the low voltage segment accounts for the largest market share and is estimated to register higher growth during the review period. Low voltage equipments are extensively used in commercial, residential, and industrial applications for various purposes; therefore, the demand for low voltage insulators is high. The application segment is sub-segmented into cables & transmission lines, transformers, switchgear, busbars, and others. Among these, a transformer is the leading application segment. The transformer segment’s growth is driven by the growing demand from end-users such as utilities, railways & metros, and renewables.The end-user segment is sub-segmented into utility, industries, and others. Among these, the utility segment is expected to dominate the insulator market. The segment growth attributes to increasing investments in transmission & distribution network globally.
By region, the market is bifurcated into the Americas (US, Canada, Mexico, Rest-of-North America) and South America, Europe (the UK, Germany, France, Italy, and Rest-of-Europe), Asia Pacific (China, Japan, India, South Korea, and Rest-of-the-APAC), and Rest-of-the-World. It is observed that the Asia Pacific region has been consistently dominating the global insulator market and is anticipated to maintain its market position in the coming years as well. The market growth attributes to vast investments for developments and upgrades of smart grid infrastructures in the region. Besides, rapid R&D investments in renewable power generation sources and infrastructural activities substantiate the insulator market size. Moreover, spurring growth in end-user industries such as automotive and electronics sectors drive the insulator market growth in the region.China, with its highest installed generation and distribution capacity, dominates the insulator market in the APAC. Also, the high demand for electric supply in China results in fostering the insulator market. Similarly, growing power distribution activities in countries such as Australia, Indonesia, and India drives the regional market’s growth. North America acquires the second position in the global insulator market. Factors such as the growing construction projects and infrastructure development projects in the region drive the market growth. Additionally, the burgeoning electronics sector and the electrical market in the region drive the demand for insulators. The US, with its growing T&D lines, dominates the regional market.The European insulator market has emerged as a profitable market globally. Increased requirement of the wiring harness and other electrical components, in turn, increase the need for electric fuses. Also, factors such as the rapidly growing use of electric instruments in healthcare foster the market’s growth. Furthermore, vast adoption in rapidly growing utilities, industrial, commercial, transportation sectors in the region propels the market growth.
The insulator market is experiencing implementations of several strategic approaches, such as expansion, collaboration, mergers & acquisitions, and product launches. Mature industry players are making strategic investments in Research and development activities and fostering their expansion plans. For instance, recently, on Feb. 01, 2021, PPC Insulators announced that it has predominantly shifted to tight gas-kilns with advanced thermal insulating materials and coatings. Porcelain insulators are green and ecological products for energy transmission and distribution. The possibility of using Bio-Methane is currently being studied with gas- suppliers.
The prominent players profiled in the global Insulator Market report are
General Electric (US)Siemens AG (Germany)Alstom SA (France)PPC Insulators (Austria)Bharat Heavy Electricals Limited. (India)Toshiba Corporation (Japan)Hubbell Incorporated (US)Seves Group (Italy)Dalian Yilian Technology Co. Ltd. (China), andELANTAS GmbH (Germany), among others. Global Distribution Feeder Automation System Market Research Report Information: by Product (Hardware, Software, and Services), Application (Residential, Commercial and Industrial) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) – Forecast till 2025Global Power-to-Gas Market Research Report: Information By Technology (Electrolysis {Alkaline Electrolysis, Polymer Electrolyte Electrolysis and Solid Oxide Electrolysis} and Methanation {Catalytic Methanation and Biological Methanation}), Capacity (Less than 100 kW, 100 kW–1,000 kW and Above 1,000 kW), End User (Commercial, Utilities and Industrial) and Region (North America, Europe, and Asia-Pacific) – Forecast till 2026Global Excitation Systems Market Research Report Information: by Type (DC Excitation System, AC Excitation System (Rotating Thyristor Excitation System and Brushless excitation System) and Static Excitation System), Controller Type (Analog and Digital), Application (Synchronous Motors and Synchronous Generators) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) – Forecast till 2025Global Current Transducer Market Research Report Information: by Technology (Closed Loop and Open Loop), Application (Converter & Inverter, Motor Drive, Battery Management, SMPS and UPS and others), End-Use (Industrial, Transportation, Renewable Energy, Automotive and others) and Region ( Europe, Middle East & Africa, Asia-Pacific, North America and South America) – Forecast till 2025Global Vacuum Interrupter Market Research Report: Information by Rated Voltage (0–15 kV, 15–30 kV and Above 30 kV), Contact Structure (Flat Contact, Spiral Contact and Axial Magnetic/Field Contact), Application (Circuit Breaker, Load Break Switch, Recloser, Contactor, Tap Changer and others), End-Use Industry (Utilities, Oil & Gas, Mining Sector, Transportation Sector and others) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) – Forecast till 2025Global Distribution Automation Market Research Report: Information by Component (Field Device, Software & Services, and Communication Technology), Utility Type (Wired Technology and Wireless Technology) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) – Forecast till 2025Global Diesel Genset Market Research Report: Information By Probability (Stationary and Portable), Power Rating (Up to 100 kVA, 100 kVA–350 kVA, 350 kVA–1,000 kVA and Above 1,000 kVA), Application (Standby, Peak Shaving and Continuous), End-Use (Industrial, Commercial and Residential) – Forecast till 2025Global Power Monitoring System Market Research Report Information: by Component (Hardware, Software, and Services), End-Use (Utilities & Renewables, Data Center, Public Infrastructure, Manufacturing & Process Industry, and others), Region ( Europe, Asia-Pacific, Middle East & Africa, North America and South America) – Forecast till 2025
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