Global Electric Insulator Market is expected to foresee significant growth. The Asia Pacific to lead the growth!

The global electric insulator market was valued at around USD 11 bn in 2020 and is expected to grow at a CAGR of more than 6% during the forecast period of 2021-2027. Insulators are used in every electrical circuit as they have high resistivity and low conductivity. Insulators avoid leakage of current and ensure the safety of humans and the stable operation of an electric circuit. Insulators are used for isolation and to avoid external disturbance of electrical equipment and circuits. Factors that are positively influencing the market size of an electric insulator such as several developed economies are currently investing in the refurbishment of aging grid technology and establishing sustainable electrical networks for carrying electricity generated through renewable sources.

On the other hand, with rapid urbanization and technological developments, governments in the emerging economies are undertaking initiatives, such as smart grid vision and green energy corridors, to create reliable and efficient grid infrastructure to wider the reach of electricity in every corner of a rural and urban area is expected to escalate the market size of electric insulator.

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The electric insulator market caters to extensive market share and is expected to witness a soaring growth rate during the forecasted period as well. Factors such as growing adoption of renewable energy sources, increasing investments in T&D networks, and refurbishment of existing grid networks across the globe. In addition, the development of renewable-based power generation is expected to result in the expansion of T&D infrastructure, increasing demand for electric insulators over the coming years.

Further, insulators find vast applications in different industries as safety devices on account of properties such as low thermal expansion and high dielectric strength. Soaring development in emerging economies rising the adoption of advanced technologies coupled with increasing urbanization leading to smart infrastructure buildings is expected to escalate the market size of electric insulators.

The coronavirus pandemic was declared a public health emergency worldwide by World Health Organization (WHO) in 2020. The strict guidelines were issued by governments and local authorities, industrial, commercial activities even all non-essential operations were halted which had suspended the activities of end-users. COVID-19 has adversely affected the growth of the power industry as it resulted in delayed operations, manpower shortages, and supply chain disruptions, amongst others, in turn, affecting the demand for the electric insulator.

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Based on type, the electric insulator market is classified into ceramic, composite, and glass. The composite segment caters to extensive market share in the electric insulator market and is predicted to be the fastest-growing segment in the forecasted period. Compared with ceramic insulators and glass insulators, composite insulators possess superior mechanical properties, good insulation, anti-pollution flashover performance, and are easily installed and maintained.

Based on voltage, the electric insulator market is categorized into low, medium, and high. The medium voltage segment caters to a significant market share in the electric insulator market. The medium voltage insulator demand is increasing owing to the rising adoption of high insulation resistance insulator material coupled with good thermal conductivity, moisture coupled with high mechanical strength, and convenient processing which is positively influencing the demand for medium voltage to isolate the charged parts with different potential in electrical equipment.

Based on product, the electric insulator market is segmented into a pin, suspension, strain, shackle, and others. The pin insulator segment caters to a substantial market share in the electric insulator market. It is mainly owing to the substantial expenditure incurred in modernizing electrical infrastructure that is anticipated to help in the growth of the pin insulators.

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For a better understanding of the market adoption, the report provides a detailed analysis of major regions and countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, Spain, France, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), ROW. The Asia Pacific caters to extensive market share in the electric insulator market and is expected to grow at an increasing rate. Factors such as the growing demand for electricity in the region is witnessing high growth, owing to rapid industrialization and urbanization are escalating the market size of the electric insulator.

Some of the major players operating in the market are ABB, General Electric, Toshiba, NGK Insulator, Siemens, LAPP Insulators, TE Connectivity, Hubbell, Bharat Heavy Electricals Limited, Seves Group. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

Global Electric Insulator Market Segmentation

Market Insight, by Type

• Ceramic
• Composite• Glass

Market Insight, by Voltage

• Low
• Medium• High

Market Insight, by Product

• Pin
• Suspension• Strain• Shackle• Others

Market Insight, by Application

• Surge Protection Device
• Cables• Switchgear• Transformer• Busbar• Others

Market Insight, by End-User

• Utilities
• Industries• Others

Market Insight, by Region

• North America Electric Insulator Market
  • United States
  • Canada
  • Rest of North America
• Europe Electric Insulator Market
  • Germany
  • United Kingdom
  • Spain
  • France
  • Rest of Europe
• Asia-Pacific Electric Insulator Market
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Rest of the World

Top Company Profiles

• ABB
• General Electric• Toshiba• NGK Insulator• Siemens• LAPP Insulators• TE Connectivity• Hubbell• Bharat Heavy Electricals Limited• Seves Group