Market Highlights
The
need for continuous uninterrupted electric supply is growing because of the
worldwide rise in population and rapid industrialization. The increasing need
of reliable electric supply and subsequent investment in transmission &
distribution network, grid expansion, and developing safe electrical
infrastructure is expected to drive the growth of the global insulator market.
The
insulator market in the Asia-Pacific region is expected to grow the fastest
during the forecast period. The rapid industrialization, urbanization, and fast
economic growth with growing electrical infrastructure in the countries such as
India and China, will drive the market for insulators.
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Industry Overview
Growing
electricity demand coupled with growing concern for safe transmission &
distribution of electricity and the increasing grid infrastructure, will boost
the global insulator market size over the forecast timeline. The unique
property of insulators to resist the energy transmission from one medium to
another, would make them convenient for various applications.
Insulators
are classified based on their capacity types, as ceramic, glass and composite
insulator. The ceramic insulator holds major share in the current market and is
expected to continue its dominance in global insulator market, owing to
properties such as, environmental friendliness, better electrical strength than
other two insulators, high resistance to rodents, termites, birds & other
animals to climate changes, and conditions such as dust, salinity and high
moisture. Besides, they are cheap & easy to install, which will foster the
growth of global insulator market.
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Industry Segmentation
The
market has been analyzed based on product types, voltage, applications, end use
and regions.
On
the basis of voltage type, the medium voltage segment is expected to dominate
the market for insulators. The rise in the number of power plants, substations,
industries and gird lines, that utilize medium voltage insulators lead to the
growth of medium voltage insulator market
Asia-Pacific region is
expected to grow at the fastest rate
Rapid
urbanization & industrialization in countries such as China, India,
Indonesia and Australia demand continuous electric supply for the operations of
industries, data centers, emergency services, and commercial & household
purposes. Ageing conventional transmission & distribution network often hinders
the supply for continuous power. This is creating a lucrative market for
insulators in this region.
Key Players
The
key players of global insulator market are General Electric (U.S.), Siemens AG
(Germany), Alstom S.A (France), Aditya Birla Nuvo Ltd. (India), Bharat Heavy
Electricals Limited. (India), Toshiba Corporation (Japan), Hubbell Incorporated
(U.S), Seves Group (Italy), Dalian Yilian Technology Co. Ltd. (China) and
ELANTAS GmbH (Germany).
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