The Glass Insulators Market to grow by USD 196.4 million from 2022 to 2027 | The growing need for energy efficiency in buildings to boost market growth - Technavio

NEW YORK, Aug. 31, 2023 /PRNewswire/ -- The glass insulators market is expected to increase by USD 196.4 million from 2022 to 2027, registering a CAGR of  4.17%, according to the latest research report from Technavio. The growing need for energy efficiency in buildings is a key factor driving market growth. Key energy consumption segments include commercial and residential buildings, especially those with refrigerators and air conditioners. Insulation materials are widely used to reduce energy loss, improving construction efficiency. Due to rising energy costs, governments emphasize the importance of adopting energy-efficient products to address rising energy prices. Hence, these factors are expected to drive market growth during the forecast period. Discover Electrical Components and equipment industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View Sample Report!

Company Landscape

The glass insulators market is fragmented and the companies are deploying organic and inorganic growth strategies to compete in the market.

Company Offering

• Glass Insulators Inc - The company offers glass insulators in two basic configurations, dual pane, and triple pane.
• Global Insulator Group LLC - The company offers glass insulators such as Suspension disc-type glass insulators, and HV glass suspension insulators.
• Incap Ltd. - The company offers glass insulators such as Suspension Insulator DC Type, Suspension Insulator Fog Type, and Suspension Insulator Standard Type.

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Key Market Segmentation

The market is segmented by type (suspension glass insulators and pin glass insulators), and application (HVAC, distribution and railway, and HVDC).

• The suspension glass insulators segment is estimated to witness significant growth during the forecast period. Suspension glass insulators are insulating devices made from glass, commonly used in overhead power transmission and distribution lines. Furthermore, they are used to hang and support conductors. These insulators are designed to withstand a wide range of voltage levels,  from low voltage systems to extra high voltage (EHV) systems. Their main application is in overhead power transmission and distribution lines. Hence, these factors are expected to drive segment growth during the forecast period.

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Regional Market Outlook

By geography, the market is segmented by APAC, North America, Europe, South America, and the Middle East and Africa.

APAC is estimated to contribute 51% to the growth by 2027. China is the key contributor to the market in the region, In addition, it is a major producer and consumer of insulation material. Increasing infrastructure development, coupled with China's emergence as a global manufacturing hub, is driving the use of insulation products in the region. The growing number of construction companies in China could particularly propel market expansion. Hence, these factors are expected to drive market growth in the region during the forecast period.

For more key highlights on the regional market share of most of the above-mentioned countries.- View Sample Report

Market Dynamics

• Major Trend - The green building developments influencing sales prospects is a major trend in the market.
• Significant Challenge - The lack of a skilled workforce is a significant challenge restricting market growth.

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

Companies Mentioned

• ELECTRO PORCELANA GAMMA SAS
• Glass Insulators Inc.
• Global Insulator Group LLC
• Hemingray Glass Company LLC
• Hubbell Inc.
• Incap Ltd.
• JSU U.M.E.K
• Lviv Insulator Co.
• MacLean Fogg Co.
• MacLean Power Systems
• Meister International LLC
• Nanjing Electric Group Co. LTD.
• SEDIVER SAS
• SEVES Group S.a r.l.
• Sichuan Yibin Global Group Co. Ltd.
• UAB AIZ
• Verescence France
• VICTOR INSULATORS INC.
• Zhejiang Jinlihua Electric Co. LTD.
• Zhejiang Tailun Insulator Co. Ltd.

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

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SOURCE Technavio