The North American Region to Experience High Growth Rate
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 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 electrical insulator is employed in an electrical system to stop unwanted current flow. In the electrical system, the insulator is essential. Practically no current can pass over this extremely high resistive circuit. Electrical current or charges can travel in a single or numerous directions thanks to the electrical conductor’s substance. It helps to save energy costs by preventing the passage of excessive voltage in an electric circuit. Additionally, it reduces pollution emissions and improves the efficiency of electronic system processes. Additionally, it guards against electrocution and electric shock.
Browse the full “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 2023–2032” report at https://www.custommarketinsights.com/report/electric-insulator-market/
The business scenario will be driven by renovating and replacing existing networks, particularly in emerging markets. The growth of the business will also be aided by strict government regulations for the construction of sustainable electrical networks that will increase electricity generation from renewable energy sources.
Global market operations have been hampered by the COVID-19 situation, which among other things, led to operations being delayed, a lack of labor, and supply chain disruptions. However, improving government guidelines for international travel and launching multiple immunization initiatives have returned business operations to normal. Additionally, providing power during emergencies in major power-producing plants and healthcare facilities has favorably impacted the business dynamics.
The global Electric Insulator market is categorized into material, voltage, product, and application. Based on material, the ceramic segment is estimated to dominate the market in 2021 owing to its superior mechanical strength, improved hydrophobicity, reduced leakage current, and high-stress resistance.
These insulators are also anticipated to experience significant adoption due to their superior insulating quality, increased fire temperature ratings, enhanced durability, and affordable availability. In addition, new government initiatives and funding for building extensive electricity networks will spur industry demand.
Based on the product, the pin insulators segment will notice considerable growth from 2022 to 2030. This glass-based insulator is typically utilized in 33 kV power distribution systems. In addition, they are used in single- and multi-piece applications throughout sub-transmission and distribution lines as voltage conditioning. Significant benefits of the product, such as the availability of multi-piece construction, excellent reliability, and simplicity of installation, are driving up industry value.
The Asia Pacific is anticipated to dominate the global electric insulator market in 2021. An important factor driving the expansion of the electric insulator market is the rapid industrialization and urbanization of nations like India and Japan, which results in a rise in the use of electricity. Developing the electric insulator market in the Asia Pacific could be further aided by key players in the industry setting up R & D centers in nations like India.
|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)|
|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 Players Insights
Our market analysis includes a section specifically devoted to key players operating in the Electric Insulator market. Our analysts overview each player’s financial statements, product benchmarking, and SWOT analysis. In addition, the competitive landscape section includes key development strategies, market share analysis, and market positioning analysis of globally mentioned competitors.
- Lutron Electronics Company
- Zumtobel Group
- Acuity Brands
- Alera Lighting
- Hubbell Lighting Inc
- 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:
- Cables & Transmission Lines
- Bus Bars
- Pin Insulators
- Shackle Insulators
- Suspension Insulators
- Other Insulators
- Commercial & Industrial
On the basis of Geography
- The U.S.
- The UK
- Rest of Europe
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Rest of Latin America