Electric Insulator Market Size, Trends and Insights By Material (Ceramic/Porcelain, Composite, Glass), By Voltage (Low, Medium, High), By Application (Cables & Transmission Lines, Transformer, Switchgears, Bus Bars, Others), By Product (Pin Insulators, Shackle Insulators, Suspension Insulators, Other Insulators), By End-use (Commercial & Industrial, Residential, Utilities), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Lutron Electronics Company
- Zumtobel Group
- Acuity Brands
- Alera Lighting
- Others
Reports Description
The surging installation of smart grids is boosting the market’s growth.
According to Custom Market Insights (CMI), The Global Electric Insulator Market size was estimated at USD 12.6 Billion in 2021 and is expected to reach USD 13.47 billion in 2022 and is expected to hit around USD 20.5 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 5% from 2022 to 2030.
The report examines the Electric Insulator market’s drivers and restraints and their impact analysis. Also, the report mentions global opportunities prevailing in the Electric Insulator market.
Electric Insulator Market: Overview
An electric insulator is a product made of silicon rubber, fiberglass, and metal end fittings. It often has high tensile strength, is small, and is quite durable. In recent years, the demand for the product has increased due to these advantages.
Electric insulators can stop the passage of electricity in the wrong direction. They are now used as capacitor dielectrics and coatings for wires.
Electric insulators can also be employed in power transmission and distribution networks because they protect against the adverse effects of electricity.
Electric Insulator Market: COVID–19 Impact Analysis
The COVID-19 epidemic has had a detrimental effect on the world market for electric insulators. Electric equipment manufacturing facilities were closed due to the strict regulatory requirements set by governments of various nations worldwide, which negatively impacted the demand for them during the epidemic. However, all types of electrical building projects were put on hold.
The impact on the market was further exacerbated by the absence of professional labor in the sector and the paucity of raw materials. The governments implemented these limitations to slow the virus’s spread during the pandemic dramatically. The market is anticipated to rebound as intelligent cities become more commonplace and restrictions are relaxed.
Electric Insulator Market: Growth Drivers
Rising investments in transmission & distribution networks
A total of over 60 million kilometers of transmission and distribution lines will need to be constructed, renovated, or replaced to accommodate the rising demand for electricity, which is predicted to increase at a CAGR of 1.85%. According to the power baseline scenario, the world’s power sector will need to invest around $16.4 trillion over the next 30 years, with transmission and distribution infrastructure making up the most significant portion of the subsector.
The industry outlook has been favorably impacted by the industrial tendency to improve the current electrical infrastructure. The vast global investment in the transmission of electrical infrastructure and the electric insulator is being driven by several important considerations, including the demand for power, opportunities for efficiency increases, and the possibility of reducing carbon emissions.
Installations of smart grids
A smart grid is a circuit system that uses cutting-edge technology to monitor regular operation remotely. Due to the two-way communication capabilities of the intelligent devices, the utility may interact with them and regulate their process to find errors.
The critical market actors, service providers, utility providers, and consulting firms have much to gain from the increase in investments in innovative city projects. With the use of technology and the wise use of resources, it is necessary to handle essential services like utility, safety, transportation, and health more effectively and wisely.
The ability of intelligent grids to deliver reliable electricity for carrying out functions is essential to the development pace of intelligent cities. APAC is projected to adopt smart city technologies due to its high urbanization rate.
Emerging investment opportunities
Electrical insulators block the flow of current’s electrons. It is utilized in high-voltage systems, circuit boards, and the coating and cables of electric wires. The global electric insulators market is anticipated to be driven by high investments in renovating outdated grid infrastructure across developed and developing nations and the acceptance of smart grid technology.
The money spent on updating the electrical infrastructure, along with the rising urbanization, renovation, and replacement of existing assets, demonstrate the market’s enormous demand and growth potential. In addition, demand growth, capacity constraints, and a growing focus on power generation capacity increase will all contribute to the expansion of the electric insulators sector.
Electric Insulator Market: Segmentation Analysis
The Electric Insulator market is segmented into material, voltage, product, and application in our research scope. The medium voltage market is anticipated to witness a high CAGR from 2022-2030. Major industry participants’ ongoing investments in R&D operations to improve the insulation and tensile strength, material density, and expansion coefficient would favorably affect product penetration. In addition, expanding electrical infrastructure through legislative action will be accelerated by rising urbanization and commercialization.
The market for high-voltage electric insulators will grow owing to the robust development of high-voltage transmission networks and ongoing improvements in grid infrastructures. The industry landscape will be further fueled by a paradigm shift toward producing renewable energy, including deploying sizable wind and solar-based projects. Furthermore, the business environment will be improved by reasonable government regulations, plans, programs, and rebates for installing renewable energy sources.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 12.6 Billion |
| Projected Market Size in 2030 | USD 20.5 Billion |
| Market Size in 2022 | USD 13.47 Billion |
| CAGR Growth Rate | 5% CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Prominent Players | Lutron Electronics Company, Zumtobel Group, Acuity Brands, Alera Lighting, Flexonics, Hubbell Lighting Inc, Hytronik, Northlight Group LLP, Crestron Electronics Inc, ROHM Semiconductor, Texas Instrument, Kosnic Lighting Ltd, Cooper Lighting LLC, and Others |
| Key Segment | By Material, Voltage, Application, Product, End-use, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Key Insights:
- As per the analysis shared by our research analyst, the Electric Insulator market is estimated to grow annually at a CAGR of around 5% over the forecast period (2022-2030).
- In terms of revenue, the Electric Insulator market size was valued at around USD 12.6 billion in 2021 and is projected to reach USD 20.5 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The Electric Insulator market research offers a comprehensive analysis of the present market and projections through 2020–2030 to help find possibilities to profit from the existing market.
- The study includes data on the significant market drivers, challenges, and opportunities and their effects.
- The study elaborates on the SWOT analysis and Porter’s Five Forces model.
- The market study’s value chain analysis gives a comprehensive picture of the stakeholder’s responsibilities.
Recent Development
- February 2022: Recticel Insulation declared that their multilayer thermal insulation products had been awarded the Programme for the Endorsement of Forest Certification (PEFC) seal. The business asserts that it did so first among producers of polyurethane (PUR) and polyisocyanurate (PIR). The thermal insulation producer will market products with multilayer paper facings composed of wood fibers from sustainably managed and PEFC-certified forests.
- April 2021: GE Renewable Energy’s Grid Solutions company and Hitachi ABB Power Grids Ltd. recently announced an agreement regarding using an alternate gas to SF6. Sulfur hexafluoride (SF6) is a gas used in high-voltage equipment. The business also disclosed that the collaboration would hasten the use of SF6 gas substitutes, such as fluoronitrile-based eco-efficient insulation and switching gas, in high-voltage equipment.
Regional Landscape
In revenue in 2021, the Asia Pacific electric insulator market accounted for around 45%. Increasing investments are being made in constructing new and enhanced power-producing facilities to accommodate the need for energy. Additionally, the large-scale growth of energy networks has been facilitated by the growing use of electricity by end users and by several other industries, such as oil & gas, power production, mining, and metals. Additionally, the value of the business will increase as electrical grid networks are upgraded and renovated to meet the demand for energy in developing countries.
Competitive Landscape
These leading companies in the worldwide electric insulator market are examined in the report. To strengthen their position and competitiveness in the market, these firms have effectively used strategies including joint ventures, expansion, collaborations, new product releases, partnerships, and others. The research helps examine significant companies’ recent market changes, product portfolios, financial results, and operating segments.
Prominent Players:
- Lutron Electronics Company
- Zumtobel Group
- Acuity Brands
- Alera Lighting
- Flexonics
- Hubbell Lighting Inc
- Hytronik
- Northlight Group LLP
- Crestron Electronics Inc
- ROHM Semiconductor
- Texas Instrument
- Kosnic Lighting Ltd
- Cooper Lighting LLC
The global Electric Insulator market is segmented as follows:
By Material
- Ceramic/Porcelain
- Composite
- Glass
By Voltage
- Low
- Medium
- High
By Application
- Cables & Transmission Lines
- Transformer
- Switchgears
- Bus Bars
- Others
By Product
- Pin Insulators
- Shackle Insulators
- Suspension Insulators
- Other Insulators
By End-use
- Commercial & Industrial
- Residential
- Utilities
On the basis of Geography
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research methodology
- Chapter 2. Executive Summary
- 2.1 Global Electric Insulator Market, (2022 – 2030) (USD Billion)
- 2.2 Global Electric Insulator Market : snapshot
- Chapter 3. Global Electric Insulator Market – Industry Analysis
- 3.1 Electric Insulator Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Rising investments in transmission & distribution networks
- 3.2.2 Installations of smart grids
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Material
- 3.7.2 Market attractiveness analysis By Voltage
- 3.7.3 Market attractiveness analysis By Application
- 3.7.4 Market attractiveness analysis By Product
- 3.7.5 Market attractiveness analysis By End-use
- Chapter 4. Global Electric Insulator Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Electric Insulator Market: company market share, 2021
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Electric Insulator Market – Material Analysis
- 5.1 Global Electric Insulator Market overview: By Material
- 5.1.1 Global Electric Insulator Market share, By Material, 2021 and 2030
- 5.2 Ceramic/Porcelain
- 5.2.1 Global Electric Insulator Market by Ceramic/Porcelain, 2022 – 2030 (USD Billion)
- 5.3 Composite
- 5.3.1 Global Electric Insulator Market by Composite, 2022 – 2030 (USD Billion)
- 5.4 Glass
- 5.4.1 Global Electric Insulator Market by Glass, 2022 – 2030 (USD Billion)
- 5.1 Global Electric Insulator Market overview: By Material
- Chapter 6. Global Electric Insulator Market – Voltage Analysis
- 6.1 Global Electric Insulator Market overview: By Voltage
- 6.1.1 Global Electric Insulator Market share, By Voltage, 2021 and 2030
- 6.2 Low
- 6.2.1 Global Electric Insulator Market by Low, 2022 – 2030 (USD Billion)
- 6.3 Medium
- 6.3.1 Global Electric Insulator Market by Medium, 2022 – 2030 (USD Billion)
- 6.4 High
- 6.4.1 Global Electric Insulator Market by High, 2022 – 2030 (USD Billion)
- 6.1 Global Electric Insulator Market overview: By Voltage
- Chapter 7. Global Electric Insulator Market – Application Analysis
- 7.1 Global Electric Insulator Market overview: By Application
- 7.1.1 Global Electric Insulator Market share, By Application, 2021 and 2030
- 7.2 Cables & Transmission Lines
- 7.2.1 Global Electric Insulator Market by Cables & Transmission Lines, 2022 – 2030 (USD Billion)
- 7.3 Transformer
- 7.3.1 Global Electric Insulator Market by Transformer, 2022 – 2030 (USD Billion)
- 7.4 Switchgears
- 7.4.1 Global Electric Insulator Market by Switchgears, 2022 – 2030 (USD Billion)
- 7.5 Bus Bars
- 7.5.1 Global Electric Insulator Market by Bus Bars, 2022 – 2030 (USD Billion)
- 7.6 Others
- 7.6.1 Global Electric Insulator Market by Others, 2022 – 2030 (USD Billion)
- 7.1 Global Electric Insulator Market overview: By Application
- Chapter 8. Global Electric Insulator Market – Product Analysis
- 8.1 Global Electric Insulator Market overview: By Product
- 8.1.1 Global Electric Insulator Market share, By Product, 2021 and 2030
- 8.2 Pin Insulators
- 8.2.1 Global Electric Insulator Market by Pin Insulators, 2022 – 2030 (USD Billion)
- 8.3 Shackle Insulators
- 8.3.1 Global Electric Insulator Market by Shackle Insulators, 2022 – 2030 (USD Billion)
- 8.4 Suspension Insulators
- 8.4.1 Global Electric Insulator Market by Suspension Insulators, 2022 – 2030 (USD Billion)
- 8.5 Other Insulators
- 8.5.1 Global Electric Insulator Market by Other Insulators, 2022 – 2030 (USD Billion)
- 8.1 Global Electric Insulator Market overview: By Product
- Chapter 9. Global Electric Insulator Market – End-use Analysis
- 9.1 Global Electric Insulator Market overview: By End-use
- 9.1.1 Global Electric Insulator Market share, By End-use, 2021 and 2030
- 9.2 Commercial & Industrial
- 9.2.1 Global Electric Insulator Market by Commercial & Industrial, 2022 – 2030 (USD Billion)
- 9.3 Residential
- 9.3.1 Global Electric Insulator Market by Residential, 2022 – 2030 (USD Billion)
- 9.4 Utilities
- 9.4.1 Global Electric Insulator Market by Utilities, 2022 – 2030 (USD Billion)
- 9.1 Global Electric Insulator Market overview: By End-use
- Chapter 10. Electric Insulator Industry – Regional Analysis
- 10.1 Global Electric Insulator Industry Regional Overview
- 10.2 Global Electric Insulator Industry Share, by Region, 2021 & 2030 (USD Billion)
- 10.3. North America
- 10.3.1 North America Electric Insulator Industry, 2022 – 2030 (USD Billion)
- 10.3.1.1 North America Electric Insulator Industry, by Country, 2022 – 2030 (USD Billion)
- 10.3.1 North America Electric Insulator Industry, 2022 – 2030 (USD Billion)
- 10.4 North America Electric Insulator Industry, by Material, 2022 – 2030
- 10.4.1 North America Electric Insulator Industry, by Material, 2022 – 2030 (USD Billion)
- 10.5 North America Electric Insulator Industry, by Voltage, 2022 – 2030
- 10.5.1 North America Electric Insulator Industry, by Voltage, 2022 – 2030 (USD Billion)
- 10.6 North America Electric Insulator Industry, by Application, 2022 – 2030
- 10.6.1 North America Electric Insulator Industry, by Application, 2022 – 2030 (USD Billion)
- 10.7 North America Electric Insulator Industry, by Product, 2022 – 2030
- 10.7.1 North America Electric Insulator Industry, by Product, 2022 – 2030 (USD Billion)
- 10.8 North America Electric Insulator Industry, by End-use, 2022 – 2030
- 10.8.1 North America Electric Insulator Industry, by End-use, 2022 – 2030 (USD Billion)
- 10.9. Europe
- 10.9.1 Europe Electric Insulator Industry, 2022 – 2030 (USD Billion)
- 10.9.1.1 Europe Electric Insulator Industry, by Country, 2022 – 2030 (USD Billion)
- 10.9.1 Europe Electric Insulator Industry, 2022 – 2030 (USD Billion)
- 10.10 Europe Electric Insulator Industry, by Material, 2022 – 2030
- 10.10.1 Europe Electric Insulator Industry, by Material, 2022 – 2030 (USD Billion)
- 10.11 Europe Electric Insulator Industry, by Voltage, 2022 – 2030
- 10.11.1 Europe Electric Insulator Industry, by Voltage, 2022 – 2030 (USD Billion)
- 10.12 Europe Electric Insulator Industry, by Application, 2022 – 2030
- 10.12.1 Europe Electric Insulator Industry, by Application, 2022 – 2030 (USD Billion)
- 10.13 Europe Electric Insulator Industry, by Product, 2022 – 2030
- 10.13.1 Europe Electric Insulator Industry, by Product, 2022 – 2030 (USD Billion)
- 10.14 Europe Electric Insulator Industry, by End-use, 2022 – 2030
- 10.14.1 Europe Electric Insulator Industry, by End-use, 2022 – 2030 (USD Billion)
- 10.15. Asia Pacific
- 10.15.1 Asia Pacific Electric Insulator Industry, 2022 – 2030 (USD Billion)
- 10.15.1.1 Asia Pacific Electric Insulator Industry, by Country, 2022 – 2030 (USD Billion)
- 10.15.1 Asia Pacific Electric Insulator Industry, 2022 – 2030 (USD Billion)
- 10.16 Asia Pacific Electric Insulator Industry, by Material, 2022 – 2030
- 10.16.1 Asia Pacific Electric Insulator Industry, by Material, 2022 – 2030 (USD Billion)
- 10.17 Asia Pacific Electric Insulator Industry, by Voltage, 2022 – 2030
- 10.17.1 Asia Pacific Electric Insulator Industry, by Voltage, 2022 – 2030 (USD Billion)
- 10.18 Asia Pacific Electric Insulator Industry, by Application, 2022 – 2030
- 10.18.1 Asia Pacific Electric Insulator Industry, by Application, 2022 – 2030 (USD Billion)
- 10.19 Asia Pacific Electric Insulator Industry, by Product, 2022 – 2030
- 10.19.1 Asia Pacific Electric Insulator Industry, by Product, 2022 – 2030 (USD Billion)
- 10.20 Asia Pacific Electric Insulator Industry, by End-use, 2022 – 2030
- 10.20.1 Asia Pacific Electric Insulator Industry, by End-use, 2022 – 2030 (USD Billion)
- 10.21. Latin America
- 10.21.1 Latin America Electric Insulator Industry, 2022 – 2030 (USD Billion)
- 10.21.1.1 Latin America Electric Insulator Industry, by Country, 2022 – 2030 (USD Billion)
- 10.21.1 Latin America Electric Insulator Industry, 2022 – 2030 (USD Billion)
- 10.22 Latin America Electric Insulator Industry, by Material, 2022 – 2030
- 10.22.1 Latin America Electric Insulator Industry, by Material, 2022 – 2030 (USD Billion)
- 10.23 Latin America Electric Insulator Industry, by Voltage, 2022 – 2030
- 10.23.1 Latin America Electric Insulator Industry, by Voltage, 2022 – 2030 (USD Billion)
- 10.24 Latin America Electric Insulator Industry, by Application, 2022 – 2030
- 10.24.1 Latin America Electric Insulator Industry, by Application, 2022 – 2030 (USD Billion)
- 10.25 Latin America Electric Insulator Industry, by Product, 2022 – 2030
- 10.25.1 Latin America Electric Insulator Industry, by Product, 2022 – 2030 (USD Billion)
- 10.26 Latin America Electric Insulator Industry, by End-use, 2022 – 2030
- 10.26.1 Latin America Electric Insulator Industry, by End-use, 2022 – 2030 (USD Billion)
- 10.27. The Middle-East and Africa
- 10.27.1 The Middle-East and Africa Electric Insulator Industry, 2022 – 2030 (USD Billion)
- 10.27.1.1 The Middle-East and Africa Electric Insulator Industry, by Country, 2022 – 2030 (USD Billion)
- 10.27.1 The Middle-East and Africa Electric Insulator Industry, 2022 – 2030 (USD Billion)
- 10.28 The Middle-East and Africa Electric Insulator Industry, by Material, 2022 – 2030
- 10.28.1 The Middle-East and Africa Electric Insulator Industry, by Material, 2022 – 2030 (USD Billion)
- 10.29 The Middle-East and Africa Electric Insulator Industry, by Voltage, 2022 – 2030
- 10.29.1 The Middle-East and Africa Electric Insulator Industry, by Voltage, 2022 – 2030 (USD Billion)
- 10.30 The Middle-East and Africa Electric Insulator Industry, by Application, 2022 – 2030
- 10.30.1 The Middle-East and Africa Electric Insulator Industry, by Application, 2022 – 2030 (USD Billion)
- 10.31 The Middle-East and Africa Electric Insulator Industry, by Product, 2022 – 2030
- 10.31.1 The Middle-East and Africa Electric Insulator Industry, by Product, 2022 – 2030 (USD Billion)
- 10.32 The Middle-East and Africa Electric Insulator Industry, by End-use, 2022 – 2030
- 10.32.1 The Middle-East and Africa Electric Insulator Industry, by End-use, 2022 – 2030 (USD Billion)
- Chapter 11. Company Profiles
- 11.1 Lutron Electronics Company
- 11.1.1 Overview
- 11.1.2 Financials
- 11.1.3 Product Portfolio
- 11.1.4 Business Strategy
- 11.1.5 Recent Developments
- 11.2 Zumtobel Group
- 11.2.1 Overview
- 11.2.2 Financials
- 11.2.3 Product Portfolio
- 11.2.4 Business Strategy
- 11.2.5 Recent Developments
- 11.3 Acuity Brands
- 11.3.1 Overview
- 11.3.2 Financials
- 11.3.3 Product Portfolio
- 11.3.4 Business Strategy
- 11.3.5 Recent Developments
- 11.4 Alera Lighting
- 11.4.1 Overview
- 11.4.2 Financials
- 11.4.3 Product Portfolio
- 11.4.4 Business Strategy
- 11.4.5 Recent Developments
- 11.5 Flexonics
- 11.5.1 Overview
- 11.5.2 Financials
- 11.5.3 Product Portfolio
- 11.5.4 Business Strategy
- 11.5.5 Recent Developments
- 11.6 Hubbell Lighting Inc
- 11.6.1 Overview
- 11.6.2 Financials
- 11.6.3 Product Portfolio
- 11.6.4 Business Strategy
- 11.6.5 Recent Developments
- 11.7 Hytronik
- 11.7.1 Overview
- 11.7.2 Financials
- 11.7.3 Product Portfolio
- 11.7.4 Business Strategy
- 11.7.5 Recent Developments
- 11.8 Northlight Group LLP
- 11.8.1 Overview
- 11.8.2 Financials
- 11.8.3 Product Portfolio
- 11.8.4 Business Strategy
- 11.8.5 Recent Developments
- 11.9 Crestron Electronics Inc
- 11.9.1 Overview
- 11.9.2 Financials
- 11.9.3 Product Portfolio
- 11.9.4 Business Strategy
- 11.9.5 Recent Developments
- 11.10 ROHM Semiconductor
- 11.10.1 Overview
- 11.10.2 Financials
- 11.10.3 Product Portfolio
- 11.10.4 Business Strategy
- 11.10.5 Recent Developments
- 11.11 Texas Instrument
- 11.11.1 Overview
- 11.11.2 Financials
- 11.11.3 Product Portfolio
- 11.11.4 Business Strategy
- 11.11.5 Recent Developments
- 11.12 Kosnic Lighting Ltd
- 11.12.1 Overview
- 11.12.2 Financials
- 11.12.3 Product Portfolio
- 11.12.4 Business Strategy
- 11.12.5 Recent Developments
- 11.13 Cooper Lighting LLC
- 11.13.1 Overview
- 11.13.2 Financials
- 11.13.3 Product Portfolio
- 11.13.4 Business Strategy
- 11.13.5 Recent Developments
- 11.1 Lutron Electronics Company
List Of Figures
Figures No 1 to 38
List Of Tables
Tables No 1 to 127
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
|
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| Demand-side |
|
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
|
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Prominent Players:
- Lutron Electronics Company
- Zumtobel Group
- Acuity Brands
- Alera Lighting
- Flexonics
- Hubbell Lighting Inc
- Hytronik
- Northlight Group LLP
- Crestron Electronics Inc
- ROHM Semiconductor
- Texas Instrument
- Kosnic Lighting Ltd
- Cooper Lighting LLC
- Others
FAQs
“Asia Pacific” region will lead the global Electric Insulator market during the forecast period 2022 to 2030.
The key factors driving the market are Rising investments in transmission & distribution networks and installations of smart grids.
The key players operating in the Electric Insulator market are Lutron Electronics Company, Zumtobel Group, Acuity Brands, Alera Lighting, Flexonics, Hubbell Lighting Inc, Hytronik, Northlight Group LLP, Crestron Electronics Inc, ROHM Semiconductor, Texas Instrument, Kosnic Lighting Ltd, Cooper Lighting LLC.
The global Electric Insulator market is expanding growth with a CAGR of approximately 5% during the forecast period (2022 to 2030).
The global Electric Insulator market size was valued at USD 12.6 Billion in 2021 and it is projected to reach around USD 20.5 Billion by 2030.
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