DUBLIN, Sept 25, 2018 /PRNewswire/ --
The "Electric Insulator Market by Type (Ceramic, Glass, and Composite), Voltage (Low, Medium, and High), Category (Bushings), End-User (Utilities, Industries), Application (Transformer, Cables, Busbar), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global electric insulator market is projected to reach a market size of USD 13.34 billion by 2023, at a CAGR of 5.58%, from an estimated USD 10.17 billion in 2018.
Increasing investments in T&D networks, refurbishment of the existing grid networks, and growing adoption of renewable energy sources are some of the major drivers of the electric insulator market. Increasing investments in smart grid projects and HVDC transmission methods for long-distance transmission could act as the opportunities for the electric insulator market.
The report segments the electric insulator market, by type, into ceramic, composite, and glass. The ceramic insulator segment is expected to hold the largest market share in 2018 as ceramic insulators can perform in rugged environments with minimal leakage and provide optimum mechanical strength with considerable stress resistance. These advantages are some of the key factors that support the growth of the ceramic insulator market.
The electric insulator market, by voltage, is segmented into low, medium, and high. The low voltage segment is expected to dominate the electric insulator market in 2018. Low voltage equipment are extensively used in commercial, residential, and industrial applications for various purposes; therefore, the demand for low voltage electric insulators is in-line with industrial and urban developments. Rise in electrical grid infrastructure spending and growing access to electricity in rural & remote areas of developing economies are driving the market for low voltage electric insulators.
The report segments the electric insulator market, by application, into cable, transformer, switchgear, busbar, surge protection device, and others (auxiliary equipment). The transformer segment is expected to lead the electric insulator market in 2018. The growing demand for electrical equipment from end-users such as utilities, railways & metros, and renewables is expected to drive the electric insulator market.
The electric insulator market, by end-user, is segmented into utilities, industries, and others. The others segment includes railways & metros, renewables, commercial, and residential. The utilities segment is expected to dominate the electric insulator market in 2018. The segment includes transmission & distribution utilities (both governmental and privately owned). This is due to increasing investments in transmission & distribution network globally and upgrading of aging technology in the developed nations such as the US, Canada, and Australia.
The report further segments the electric insulator market, by category, into bushings and other insulators. Other insulators include line post insulator, pin type insulator, strain insulator, suspension insulator, and shackle insulator. Other insulators, such as the line post, disc type, and suspension type insulators, are generally preferred than bushings. This dominance is mainly seen due to the relatively high number of insulators used in T&D lines. This trend is also supported by the continuous and large increment in the global T&D line length.
In this report, the electric insulator market has been analyzed with respect to 6 regions, namely, Asia Pacific, North America, Europe, South America, Middle East, and Africa. The market in Asia Pacific is estimated to be the largest electric insulator market, from 2018 to 2023.
China and India are heavily investing in T&D infrastructure to meet the growing demand for electricity. North America is the second most lucrative markets for electric insulators as replacement and refurbishment of the existing infrastructure is the major requirement in the local T&D scenario. Meanwhile, Europe is another major market for electric insulators, since the concept of smart grid technologies is gaining momentum particularly among the European Union (EU) countries. A renewed focus on renewable sources of energy is being developed in countries such as Germany and the UK. These upcoming power generation sources are expected to push the growth of new T&D lines, which in turn would increase the requirements for electric insulators.
Industrial Insulators Market
Increasing availability of low-quality gray market products could act a restraint for the electric insulator market. The volatility in the prices of raw materials poses a major challenge for the electric insulator market.
The leading players in the electric insulator market are ABB Ltd. (Switzerland), Aditya Birla Nuvo Ltd. (India), General Electric, Siemens AG (Germany), and Toshiba Corporation (Japan). Contracts & agreements are the most commonly adopted strategies by the top players. This was followed by new product launches.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Electric Insulator Market, 2018-2023
4.2 Electric Insulator Market, By Type
4.3 Electric Insulator Market, By Category
4.4 Electric Insulator Market, By Voltage
4.5 Electric Insulator Market, By Application
4.6 Electric Insulator Market, By End-User
4.7 Asia Pacific Electric Insulator Market
5 Market Overview
5.2 Market Dynamics
5.3.1 Increasing Investments in T&D Networks
5.3.2 Refurbishment of Existing Grid Networks
5.3.3 Growing Adoption of Renewable Energy Sources
5.4.1 Increasing Grey Market Products of Low Quality
5.5.1 Increasing Investments in Smart Grid Projects
5.5.2 Hvdc Transmission Methods for Long-Distance Transmission
5.6.1 Volatility in Raw Material Prices
6 Electric Insulator Market, By Type
6.2 Ceramic Insulator
6.3 Composite Insulator
6.4 Glass Insulator
7 Electric Insulator Market, By Voltage
7.2 Low Voltage
7.3 Medium Voltage
7.4 High Voltage
8 Electric Insulator Market, By Category
8.3 Others Insulator
9 Electric Insulator Market, By Application
9.6 Surge Protection Device
10 Electric Insulator Market, By End-User
11 Electric Insulator Market, By Region
12 Competitive Landscape
12.2 Ranking of Players and Industry Concentration, 2017
12.3 Competitive Scenario
12.3.1 Contacts & Agreements
12.3.2 New Product Launches
12.3.3 Investments and Expansions
12.3.4 Mergers & Acquisitions
13 Company Benchmarking
- Aditya Birla Nuvo
- General Electric
- NGK Insulators
- Bharat Heavy Electricals Limited
- Lapp Insulators
- Seves Group
- TE Connectivity
For more information about this report visit
Research and Markets
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SOURCE Research and Markets