The electric insulator market size is projected to reach US$ 17702.55 million by 2031 from US$ 11228.26 million in 2023. The market is expected to register a CAGR of 5.8% during 2023–2031. Growing smart city infrastructure is likely to remain a key trend in the market.
Electric Insulator Market Analysis
Many developing nations, including Brazil, Vietnam, Saudi Arabia, India, and others, are concentrating on increasing their industrialization. As part of the "Make in India" initiative, the Indian government is concentrating on growing industries. It is a significant national initiative of the Indian government that aims to improve talent development, encourage innovation, protect intellectual property, make investment easier, and create the nation's best manufacturing infrastructure. Cars, auto components, aviation, biotechnology, chemicals, construction, defense manufacturing, electrical machinery, electronic systems, food processing, IT & BPM, leather, media and entertainment, mining, oil and gas, pharmaceuticals, ports and shipping, railways, renewable energy, roads and highways, space, textile and garments, thermal power, tourism and hospitality, and wellness are among the 25 industries that are the focus of the Made in India program.
Electric Insulator Market Overview
Electrical conductors and electrical insulators are not the same thing. Materials that facilitate the easy flow of electricity through them are known as electrical conductors. Charges can pass through them with ease. Conversely, materials that act as insulators prevent the free passage of electric charges through them. The capacity of conductors to conduct electricity is determined by a property known as conductivity. How much resistance an insulator offers to the flow of electricity determines how effective they are. Resistivity is the name given to this characteristic as opposed to conductivity. Insulators are primarily utilized in situations where it is necessary to stop the flow of electric charges. Because these materials don't have the moveable electric charges needed to spread electric current, they function as efficient non-conductors. The majority of applications for electrical insulators are in electrical equipment. For instance, insulating material is placed over electrical lines that carry power through homes to guard against any potential safety risks.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Electric Insulator Market: Strategic Insights
Market Size Value in US$ 10,324.5 Million in 2021 Market Size Value by US$ 15,309.3 Million by 2028 Growth rate CAGR of 5.8% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Electric Insulator Market: Strategic Insights
Market Size Value in | US$ 10,324.5 Million in 2021 |
Market Size Value by | US$ 15,309.3 Million by 2028 |
Growth rate | CAGR of 5.8% from 2021-2028 |
Forecast Period | 2021-2028 |
Base Year | 2021 |
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to AnalystElectric Insulator Market Drivers and Opportunities
Increasing Demand for Electricity
Total U.S. electricity consumption in 2022 was about 4.07 trillion kWh, according to the U.S. Energy Information Administration. The growing population demands more electricity. With the increase in the electricity demand across commercial, residential, and industrial applications, more transmission and distribution networks are needed to provide electricity across the world, also, according to the data of the Ministry of Power Govt. In India, the electricity generation target (including RE) for the year 2023-24 has been reduced to 1750 Billion Units (BU). i.e., growth of around 7.2% over an actual generation of 1624.158 BU for the previous year (2022-23). The generation during 2022-23 was 1624.158 BU, compared to 1491.859 BU generated during 2021-22, resulting in a growth of approximately 8.87%. Therefore, the increasing demand for electricity and the increasing investments in transmission and distribution networks are boosting the need for electric insulators.
Increasing investments in the projects of smart grids
In order to satisfy the various energy needs of end users, a smart grid is an electricity network that makes use of digital and other cutting-edge technology to monitor and control the transportation of electricity from all generation sources. The government of various regions is investing in smart grid projects significantly. For instance, in October 2023, The US Department of Energy (DOE) earmarked $3.46 billion for 58 smart power grid projects spanning 44 states aimed at fortifying the resilience and reliability of the nation's electric grid. The initiatives, underpinned by the Bipartisan Infrastructure Law, will leverage a total investment of over $8 billion from both federal and private sources. Thus, increasing investments in smart power grids is creating opportunities for the market.
Electric Insulator Market Report Segmentation Analysis
Key segments that contributed to the derivation of the electric insulator market analysis are Product type, material type, application, and end user.
- Based on the Product type, the electric insulator market is divided into shackle insulators, pin insulators, suspension insulators, and other product types. The pin insulators segment held a larger market share in 2023.
- By material type, the market is segmented into ceramic, glass, and composite. The ceramic segment held a larger market share in 2023.
- By application, the market is segmented into transformer, busbar, cable, switchgear, surge protection devices, and other applications.
By end user, the market is segmented into utilities, industries, and other end users.
Electric Insulator Market Share Analysis by Geography
The geographic scope of the electric insulator market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America. APAC dominates the electric insulator market. The electric insulator market in this region is growing due to various factors, such as increasing government initiatives for the electric grid infrastructure and the growing population as well as the economy.
Electric Insulator Market Report Scope
Electric Insulator Market News and Recent Developments
The electric insulator market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the electric insulator market are listed below:
- Avery Dennison Performance Tapes announced the launch of the newly developed Volt Tough™ portfolio of electrical insulation tape solutions. This advanced offering of electrically insulative, single-sided film tapes is engineered to address the challenges of insufficient electrical insulation in EV battery packs. (Source: Signify, Press Release, September 2023)
- China Machinery Industry Federation organized 12 new types of 1000 kV AC, ±800 kV, and ±500 kV DC rod suspension composite insulators independently developed by Nanjing Electric Insulator Co., Ltd. in Nanjing. National product appraisal meeting. Appraisal by experts, the comprehensive technical performance of the product has reached the international advanced level of similar products. (Source: Nanjing Electric Insulator Co., Ltd, Press Release, March 2020)
Electric Insulator Market Report Coverage and Deliverables
The “Electric Insulator Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Electric insulator market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Electric insulator market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- electric insulator market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the electric insulator market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type , Material Type , Application , and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The expected CAGR of the global electric insulator market is 5.8%.
The global electric insulator market is expected to reach US$ 17702.55 million by 2031.
Growing smart city infrastructure is anticipated to play a significant role in the global electric insulator market in the coming years.
The key players holding majority shares in the global electric insulator market are Hitachi ABB Power Grids Group, Aditya Birla Insulators, General Electric Company, Hubbell Incorporated, MacLean-Fogg Company, NGK Insulators, Ltd., PFISTERER Holding AG, SEVES Group, Siemens AG, and TE Connectivity Ltd.
Increasing demand for electricity and Increasing investments in the projects of smart grids are the major factors that propel the global electric insulator market.
APAC dominates the electric insulator market.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Electric Insulator Market
Aug 2024
Automotive Board to Board Connector Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Pin Headers, Sockets, Floating Connector, and Card Edge Connector), Pin Headers (Stacked Headers and Shrouded Headers), Application (Powertrain Control Systems, Infotainment and Navigation Systems, Advanced Driver Assistance Systems (ADAS), Electric Vehicles (EV) and Hybrid Vehicle Systems, Lighting Control Systems, Autonomous Vehicles, and Others), Pitch (Less Than 1 mm, 1–2 mm, and More Than 2 mm), Number of Pin (2–12 Pin, 13–30 Pin, 31–50 Pin, 51–100 Pin, and 100+ Pin), and Geography
Aug 2024
Radiation Hardened Motor Controller and Motor Drive Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Motor Controller and Motor Drive), Motor Drive (AC Drive, DC Drive, and BLDC), Application (Space Exploration, Military and Defense, Nuclear Power Plants, and Others), and Geography
Aug 2024
Pluggable Optics for Data Center Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Switches, Routers, and Servers), Data Rate (100–400 Gb/s, 400–800 Gb/s, and 800 Gb/s and above), and Geography
Aug 2024
LED Flashlight Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Rechargeable LED Flashlight and Non-Rechargeable LED Flashlight), Product (Everyday Carry Flashlights, Tactical Flashlights, and Safety Flashlights), Application (Residential, Commercial, and Military and Law Enforcement), and Geography
Aug 2024
Collaborative Robots Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Payload (5–10 Kgs, Up to 5 Kgs, and Above 10 Kgs), Application (Assembly, Pick and Place, Material Handling, Quality Testing, Machine Tending, Welding, Packaging, and Others), Type (Robotic Arm, Welding Guns, Grippers, and Others), End-user Industry (Automotive, Electronics, Metal and Machinery, Food and Beverage, Logistics, Pharmaceuticals, and Others), Functionality (Static Robot and Mobile Robot), and Geography
Aug 2024
Analog to Digital Converter Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Integrating Analog to Digital Converters, Delta-Sigma Analog to Digital Converters, Successive Approximation Analog to Digital Converters, Ramp Analog to Digital Converters, and Others), Resolution (8-Bit, 10-Bit, 12-Bit, 14-Bit, 16-Bit, and Others), and Application (Industrial, Consumer Electronics, Automotive, Healthcare, Telecommunication, and Others), and Geography
Aug 2024
Adaptive Traffic Control System Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Hardware, Software, and Services), Component (OPAC, SCOOT, RHODES, and SCATS), and Application [Highways and Urban (Cities)] and Geography
Aug 2024
3D Audio Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Hardware, Software, and Services) and End Use Industries (Consumer Electronics, Automotive, Media and Entertainment, Gaming, and Others)