The market for "Electric Insulator" is estimated to reach $8.95 Billion at a CAGR of 6.4% from 2014 to 2019.The growing demand for electricity is seen in both the developing regions as well as the developed regions. The evolution of smart grid is further boosting the need for the up-gradation of the existing T&D infrastructure. European energy markets have already started transitioning towards the smart grid technology with large investments being made in France and U.K. With the continued increase in the electricity T&D expenditure in the near future, the electric insulators market is growing.
An insulator is an electrical component which is used to provide insulation between two conductors. It can also be used to provide mechanical support in its area of application. Along with this, the insulator also resists electrical stress, and environmental stress which may arise due to weather changes. Electric insulators thus form a vital and integral component of the power T&D infrastructure.To meet the growing demand for energy particularly in developing regions such as Asia-Pacific, there is a need for increasing the power transmission & distribution (T&D) infrastructure as well. This is evident as the global expenditure on T&D is increasing every year.
Continued demand for electricity in highly populated countries such as India and China has boosted the development of power T&D infrastructure which also involves insulators. The length of the installed T&D lines over the next five years is likely to be the highest in Asia-Pacific among all regions. Also, the T&D expenditure in Asia-Pacific is also the highest among all the regions. North America occupies the second most lucrative market electric insulators after Asia-Pacific as the replacement and refurbishment of the existing infrastructure is the major requirement in the local T&D scenario.
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Asia-Pacific- Electric insulator market size in terms of revenue is expected to occupy the largest market share in the next five years
Asia-Pacific is the largest market for electric insulators. The region which did fairly well in the last 10 years, accounted for approximately 34% of the total market in 2013. The growth rate is also comparatively high for Asia-Pacific which can be attributed to the continued investments in the T&D network expansion within the region.
Ceramic Insulators– Major type for the electric insulator market
Electric insulator based types are categorized into three primary segments: ceramic, glass, and composite insulators. The major market is captured by ceramic type insulators which involve the use of the ceramic made insulators. On the other hand, composite insulators demonstrate the higher growth rate in the electric insulator market. The key driver for the market is the increasing energy demand resulting in the increase in T&D installed line length.
Scope of Report:
On the basis of Type
- Ceramic Insulators
- Glass Insulators
- Composite Insulators
On the basis of Application
- Cables & transmission lines
- Transformers
- Switchgears
- Bus bars
- Surge protection devices
- Others
On the basis of Voltage
- Low Voltage
- Medium Voltage
- High Voltage
On the basis of Category
- Bushings
- Other Insulators
On the basis of End-User
- Utilities
- Industries
- Others
On the basis of Region
- North America
- South America
- Asia-Pacific
- Middle East
- Europe
- Africa
The Leading Players of the market such as ABB Ltd. (Switzerland), Aditya Birla Nuvo Ltd. (India), Alstom (France), Siemens AG (Germany), and Toshiba Corporation (Japan) have been profiled to provide the scenario of the competitiveness in the electric insulator market.
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