Global Composite Insulators Market is valued at approximately USD 2 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.1 % over the forecast period 2022-2028. Composite Insulators are a special type of insulation control that can play an important role in overhead transmission lines. The market for Composite Insulators will rise due to the increased focus on grid network expansion, the benefits of Composite Insulators, and significant expenditures by regulatory authorities in the construction of efficient electric infrastructure. Rising investments in restoring old grid networks across industrialized countries and the increased usage of smart grid technology are also expected to boost the Composite Insulators market. Because of the rising need for energy as a result of the growing population, the power transmission and distribution industry are likely to drive the Composite Insulators market. Composite Insulators are widely utilized in the rail transportation business, and sales of Composite Insulators are likely to increase in the coming years as the rail transportation industry grows. The Composite Insulators market will also be fueled by new product launches, developments, acquisitions and mergers, partnerships, and agreements among key industry players creating opportunities for the Composite Insulator Market. For instance- Cricket Valley Energy Centre LLC announced in June 2019 that the 1100 MW natural gas-fired power facility in Dover was 75.6 percent complete. The project is expected to gain demand for Composite Insulators. However, a dearth of experienced labor, technicians, and the lack of standard protocols impedes the growth of the market over the forecast period of 2022-2028.
The key regions considered for the Global Composite Insulators Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Product demand would be boosted by favourable government policies and plans for urbanisation and growth in nations including China, India, Japan, Indonesia, the Philippines, Thailand, and South Korea. From 2022 to 2028, the Asia Pacific regional market is expected to grow at the fastest rate. The market for Composite Insulators in the United States is also expected to grow steadily owing to government initiatives to provide a sustainable energy future along with increased infrastructural expenditures.
Major market players included in this report are:
General Electric
Siemens Energy
Bharat Heavy Electricals Limited (BHEL)
ABB, INAEL Electrical Systems
Spark Insulators
Saravana Global Energy Limited
Deccan Enterprises Private Limited
Olectra Greentech Limited
GIPRO GmbH
TE Connectivity
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Pin
Suspension
Shackle
Others
By Voltage:
High Voltage
Medium Voltage
Low Voltage
By Installation:
Transmission and Distribution
Substation
Railways
Others
By Application:
Transmission Line
Switchgear
Transformers
Busbars
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Composite Insulators Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
