Electric Insulator Market

Electric Insulator Market size reached USD 11.8 billion in 2021 and is estimated to reach USD 17.6 billion in 2029 and the market is estimated to grow at a CAGR of 5.1% from 2022-2029.

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Market Dynamic

Key Drivers and Emerging Trends

One of the biggest factors that is contributing to the growth of the global electric insulator market size includes the increasing adoption of renewable energy sources. For example, Africa is one of the leading countries that is focusing on achieving universal electricity access goals by 2025, with an aim to support the adoption of clean and renewable energy solutions. In order to meet the target, 160 GW of new generation capacity, 75 million new off-grid connections, 130 million new on-grid connections, and providing 150 million households with clean cooking solutions is needed. Thus, this is opening new doors for the growth of the electric insulator manufacturers. Additionally, the strong demand for electricity, mainly due to the rising population and power consumption, is further propelling the market’s demand. The distribution of electricity is carried out in different places, starting from power generation units to commercial establishments. Electric insulators play a crucial role in the distribution of electricity and provide high resistivity and low conductivity.

One of the emerging electric insulator market trends that is responsible for the growth of the market includes the accelerating demand for the stable and reliable supply of power distribution. There has been an increased demand for the modernization of existing electrical infrastructure, which will further drive the demand for electric insulators over the coming years. Furthermore, the rising investments in smart grid projects is further opening new doors for market growth. The growing smart city projects is presenting opportunities for technology companies, service providers, utility providers, and consulting organizations. Smart city projects depend on smart grids to provide robust energy to perform the key activities and functions. For example, the Smart Dubai project in the UAE aims to conduct the paperless transaction and build sustainable cities.

Restraint in the Global Electric Insulator Market

The rising number of grey market products of low quality is expected to hamper the growth of the market over the coming years. The top players in the market are facing intense competition from unorganized players who supply cheap and low-quality products. The increasing sales of the electric insulator in the grey market are degrading the brand names of the market leaders as low-quality products are sold under their names.

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Dielectric Material Type – Segment Analysis

Based on the dielectric material type, the ceramic/porcelain is projected to grow at a higher CAGR during the forecast period. The electrical insulators made from ceramic are increasingly used in high voltage insulating systems. These insulators have a higher dielectric constant comparatively to glass, which conducts more electricity at elevated temperatures. This property of ceramic insulators is attracting end-users to opt for this insulator over the coming years.

End-User – Segment Analysis

Based on the end-user, the commercial end-users is projected to witness a faster CAGR during the forecast period. The increasing energy demand has surged the need for stable and reliable networks T&D networks. As per IEA, during 2012-2035, planned investments in the electricity sector for the global generating capacity amounts to USD 9.7 trillion, in addition to USD 7.2 trillion for T&D grids. Thus, the rising investment in the electricity sector will drive the demand of the market. The rising blackouts, especially in the U.S. due to aging infrastructure, lack of investments, and lack of clear policies to modernize the grid, further surges the market’s growth.

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Regional – Segment Analysis:

On the basis of regional coverage, Asia-Pacific is projected to grow at a higher CAGR during the forecast period. This is mainly due to the surging demand for electricity owing to rapid industrialization and urbanization. Moreover, the rising power generation capacity and expansion of the transmission and distribution infrastructure in economies including India, China, and Japan. The government of China is focusing on renewable energy and natural gas to fill the gap created by the temporary shutdown of coal-based fired power plants. Thus, the continuous development of the renewable sector is projected to increase the regional market growth. Furthermore, the T&D expenditure in India is growing owing to the power generation capacity and privatization of the distribution sector. According to IBEF, the Indian power sector is undergoing several changes since the government is focusing on achieving “Power for all”. By 2022, solar energy is expected to contribute 114 GW, 67 GW from wind power, and 15 GW from biomass and hydropower. Thus, this is further contributing to the growth of the market in the coming years.

Top Market Players

Some of the leading players operating in the market include ABB, Grasim Industries Limited, Siemens, General Electric, NGK INDUSTRIES, LTD., Hubbell, Toshiba, Bharat Heavy Electricals Limited, Lapp Insulators, and Maclean-Fogg. 

Key Developments:

• • In 2019, ABB introduced the DC-based power distribution system called Onboard Microgrid to help the smaller vessels enhance their fuel efficiency.
  • In 2019, Siemens entered into an agreement with the Egyptian Electricity Transmission Company (EETC) for supplying the country’s first digital power transformer – Siemen’s Sensformer.

Segments covered in the Report:

The global electric insulator market has been segmented on the basis of dielectric material type, end-user, type, and regions. Based on dielectric material type, the market is segmented into ceramic/porcelain, glass, and composite/polymer. Based on end-user, the market is segmented into residential, commercial, and industrial sector/utilities. Based on type, the market is segmented into suspension insulators, pin insulators, strain insulators, stay insulators, and shackle insulators. 

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Key questions answered in this research report:

• • At what pace is the global electric insulator market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global electric insulator market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global electric insulator market?
  • Which dielectric material type generated maximum revenues in 2021 and identify the most promising dielectric material type during the forecast period?
  • What are the various end-user areas of the global electric insulator market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2021)	USD 11.8 billion
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Dielectric Material Type, By End-User, By Type, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	ABB, Grasim Industries Limited, Siemens, General Electric, NGK INDUSTRIES, LTD., Hubbell, Toshiba, Bharat Heavy Electricals Limited, Lapp Insulators, and Maclean-Fogg, among others; a total of 10 companies covered
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Electric Insulator Market by Dielectric Material Type

• • Ceramic/Porcelain
  • Glass
  • Composite/Polymer

Global Electric Insulator Market by End-User

• • Residential
  • Commercial
  • Industrial Sector/Utilities

Global Electric Insulator Market by Type

• • Suspension Insulators
  • Pin Insulators
  • Strain Insulators
  • Stay Insulators
  • Shackle Insulators

Global Electric Insulator Market by Region

• • North America Electric Insulator Market (Option 1: As a part of the free 25% customization)
    • By Dielectric Material Type
    • By End-User
    • By Type
    • US Market All-Up
    • Canada Market All-Up
  • Europe Electric Insulator Market (Option 2: As a part of the free 25% customization)
    • By Dielectric Material Type
    • By End-User
    • By Type
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Electric Insulator Market (Option 3: As a part of the free 25% customization)
    • By Dielectric Material Type
    • By End-User
    • By Type
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Electric Insulator Market (Option 4: As a part of the free 25% customization)
    • By Dielectric Material Type
    • By End-User
    • By Type
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Global Electric Insulator (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ABB
  • Grasim Industries Limited
  • Siemens
  • General Electric
  • NGK INDUSTRIES, LTD.
  • Hubbell
  • Toshiba
  • Bharat Heavy Electricals Limited
  • Lapp Insulators
  • Maclean-Fogg