Electric Insulators Market revenue to cross USD 7.5 Bn by 2028: Global Market Insights Inc.

Major electric insulators market players include ABB, GE, Siemens Energy, Lapp Insulators Group, Seves, Bharat Heavy Electricals Limited, GIPRO GmbH, Olectra Greentech, Doubletree Systems, TE Connectivity, Hitachi Energy, Hubbell, Gamma Insulators, Newell, Peak Demand, Meister International, Zhengzhou Orient Power, INAEL Electrical Systems, Spark Insulators, Saravana Global Energy, INCAP, GK Xianghe Electricals, Deccan Enterprises, TAPOREL, CYG Insulator, Izoelektro, Elsewedy Electric, Southwire Company and NGK INSULATORS.

SELBYVILLE, Del., April 5, 2022 /PRNewswire/ -- The electric insulators market size is expected to record a valuation of USD 7.5 billion by 2028, according to the most recent study by Global Market Insights Inc. The market demand is attributed to the increasing usage of smart grid technologies and favorable regulatory frameworks toward the adoption of renewables.

Growing urbanization & population rate along with escalating expenditure on energy networks will boost the market growth. Moreover, the rapidly mounting energy consumption coupled with a shifting emphasis toward energy-efficient technologies will complement the industry expansion.

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The electric insulators market for composite insulator is anticipated to showcase a significant gain on account of its increasing applicability of these units across high voltage T&D networks. The accelerated acceptance of these units across higher voltage transmission networks due to their high efficiency, lightweight, and surface energy is stimulating the industry progression. In addition, excellent hydrophobic surface properties and higher mechanical strength are some of the imperative parameters, positively influence the product demand.

High-voltage insulator in the electric insulators market hold an appreciable market share attributed to its wide scale utilization across long transmission networks. These insulators ensure safe energy transmission & reliable power supply across utilities impelled by their operational flexibility, enhancing the product adoption. Furthermore, considerable expenditure by utilities toward the development of high-capacity energy transmission networks has fostered the momentum for high-capacity transmission components, driving the industry demand for high-voltage insulators.

The 1,200 kV electric insulators market will register substantial growth propelled by the expansion of ultra-high-capacity electrical networks coupled with increased focus toward the addition of power generation capacity. The rapid urbanization & industrialization along with the rising applicability of these units across transmission networks owing to the ability to withstand numerous mechanical loads will fuel the market progression.

The suspension insulators segment is poised to observe a 6.7% growth rate till 2028. These insulators are utilized in widespread applications across distribution & sub-transmission lines in single-piece or multi-piece forms, depending on the voltage of application. High operational flexibility, anti-fog performance, and ease of manufacturing are some of the prominent factors encouraging product penetration. Additionally, growing electrification programs to connect remote locations with a reliable electricity supply will accelerate the demand for electric insulators.

Middle East & Africa electric insulators market is predicted to witness admirable growth due to the rising electricity demand and surging development of new grid networks. The increasing demand for the replacement and revamping of the conventional transmission networks subjected to stringent energy efficiency protocols will boost the market expansion. However, the lack of effective grid infrastructure in line with prevailing demand supply mismatch will energize the industry growth.

Key players operating across the market include ABB, GE, Siemens Energy, Lapp Insulators Group, Seves, Bharat Heavy Electricals Limited, GIPRO GmbH, Olectra Greentech, Doubletree Systems, TE Connectivity, Hitachi Energy, Hubbell, Gamma Insulators, Newell, Peak Demand, Meister International, Zhengzhou Orient Power, INAEL Electrical Systems, Spark Insulators, Saravana Global Energy, INCAP, GK Xianghe Electricals, Deccan Enterprises, TAPOREL, CYG Insulator, Izoelektro, Elsewedy Electric, Southwire Company and NGK INSULATORS.

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Some prime findings of the electric insulators market report include:

• The market is estimated to grow led by the rising energy demand along with upgrading & refurbishment of the existing electrical grid networks.
• Favorable regulations toward the development of efficient electrical infrastructures and expansion of cross-border energy transmission networks will spur the market value.
• Surging integration of advanced electrical components across utility infrastructures together with ongoing renovation activities will drive the 145 kV industry expansion.

Table of Contents (ToC) of the report

Chapter 3 Composite Insulators Market Insights

3.1  Industry ecosystem analysis

3.2  Innovation & technology landscape

3.3  Regulatory landscape

3.4  COVID- 19 impact on the industry outlook

3.4.1  Top 10 countries impacted by COVID- 19

3.4.2  Overall view

3.5  Industry impact forces

3.5.1  Growth drivers

3.5.2  Industry pitfalls & challenges

3.6  Growth potential analysis

3.7  Porter's Analysis

3.8  Competitive landscape, 2021

3.9  PESTEL Analysis

Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/electric-insulator-market 

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SOURCE Global Market Insights Inc.