Electric Insulator Market Size, Industry Share | Forecast 2029

Electric Insulator Market was valued at USD 11.8 billion in 2021 and is projected to touch USD 17.6 billion in 2029, growing at a CAGR of 5.1% during 2022–2029.

The factors driving the growth of Electric Insulator Market includes increasing focus on utilizing renewable sources of energy, emerging need to upgrade the power grid infrastructure, rise in the number of smart grid projects around the world and growing demand for stable and reliable supply of power distribution. According to the report published by Bloomberg, the Global Smart Grid Market was calculated around USD 66.96 billion in 2017 and is expected to reach USD 169.18 billion by the end of 2025, expanding at a CAGR of 12.4% over the forecast period (2018–2025), which will accelerate the Global Electric Insulator Market in the approaching years. Moreover, technological advancements in electric insulators, increasing deployment of electric insulators in buildings, high mechanical and stress resistance properties of porcelain electric insulators and rise in the consumption of electricity across the globe, are some of the additional factors supplementing the Electric Insulator Market size. In addition, the increasing investments by leading players on research and development, rapid urbanization, rising population growth rates and growing disposable incomes, are further contributing towards the market growth.

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However, growth of the Electric Insulator Market is hindered due to fluctuations in the prices of raw materials.

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

Based on Dielectric Material Type, the Ceramic/Porcelain segment is predicted to grow at a significant CARG during the forecast period

Increasing use of ceramic electric insulators in high voltage insulating systems, is the major factor pushing Global Electric Insulator Market.

Based on End-User, the Commercial segment is projected to grow at a robust CAGR over the forecast period

Growing consumption of electricity, frequent blackouts and emerging need to modernize the ageing gird infrastructure, are some of the factors responsible for growth of the segment.

Based on Region, the Asia-Pacific region is anticipated to expand at a remarkable CAGR during the forecast period

Growing consumption of electricity, Government policies promoting the use of renewable sources of energy, rapid industrialization, rise in the number of smart city projects, increasing per capita income and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.

Key Development

• In 2019, ABB launched the DC-based power distribution system called Onboard Microgrid, which will help the smaller vessels enhance their fuel efficiency.
• In 2019, Siemens signed an agreement with the Egyptian Electricity Transmission Company (EETC) to supply country’s first digital power transformer — Siemen’s Sensformer.

Market Segmentation

Segmentation by Dielectric Material Type

• Ceramic/Porcelain
• Glass
• Composite/Polymer

Segmentation by End-User

• Residential
• Commercial
• Industrial Sector/Utilities

Segmentation by Type

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

Segmentation by Region

• Asia Pacific
• China
• Japan
• India
• Rest of APAC
• North America
• United States of America
• Canada
• Europe
• United Kingdom
• Germany
• France
• Spain
• Rest of Europe
• RoW
• Brazil
• South Africa
• Saudi Arabia
• UAE

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