Electric Insulator Market Set To Soar Past USD 19.61 Billion By 2030

(MENAFN- GlobeNewsWire - Nasdaq) The global Electric Insulator market size is expected to reach USD 19.61 billion by 2030 and exhibit a CAGR of 5.6% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing electricity demand due to urbanization and industrialization, expansion of the transmission and distribution infrastructure, growing investments in renewable energy sources like wind and solar, the need for grid reliability and resilience, advancements in insulator materials and technology, and regulatory mandates for enhancing power system efficiency and safety are fueling the market's growth.

Westford, USA, Feb. 13, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest's latest global research of the Electric Insulator market , increasing adoption of composite insulators for their lightweight and durable properties, a shift toward higher voltage transmission lines and substations, the integration of smart monitoring and sensor technologies for preventive maintenance, growing emphasis on sustainable and environmentally friendly insulator materials, and the globalization of electric infrastructure projects leading to standardized insulator designs and specifications are the trends that aid in the market's growth.

Browse in-depth TOC on the "Electric Insulator Market"

  • Pages - 157
  • Tables - 91
  • Figures - 76

An electric insulator is a material that does not allow electric current to flow freely through it. Insulators have a high electrical resistance, making it difficult for electrons to move through them.

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Prominent Players in the Electric Insulator Market

  • ABB
  • Siemens
  • Hubbell
  • Toshiba
  • Bharat Heavy Electricals Limited (BHEL)
  • General Electric
  • Alstom
  • El Sewedy Electric Company
  • TE Connectivity
  • Asian Insulators
  • Subsea 7
  • MacLean-Fogg
  • LAPP Insulators Group
  • W T Henley
  • Corning

Composite Insulators Demand to Grow Substantially in the Forecast Period

Composite Insulators dominate the global online market because they are known for their lightweight construction, making them easier to handle and install than traditional porcelain or glass insulators. Their durability and resistance to physical damage make them a preferred choice, especially in areas prone to severe weather conditions.

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Transmission Lines is the Leading Application Segment

In terms of application, transmission lines are the leading segment due to the increasing urbanization and industrialization have led to a rising demand for electricity. As a result, expanding and upgrading transmission infrastructure to transmit power from generation sources to distribution networks and end-users is needed.

Asia-Pacific is the leading Market Due to the Technological Advancements

Region-wise, Asia-Pacific is one of the largest growing markets with a huge emphasis on technological advancements. Rapid industrialization and urbanization driving the need for expanding electrical infrastructure, large-scale investment in power generation, transmission, and distribution projects, and a growing focus on renewable energy sources, leading to increased demand for insulators in solar and wind power projects.

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A recent report thoroughly analyzes the major players operating within the Electric Insulator market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Electric Insulator.

Key Developments in the Electric Insulator Market

  • Recticel Insulation made an exciting announcement, stating that its multilayer thermal insulation products had received certification from the Programme for the Endorsement of Forest Certification (PEFC). This accomplishment positions the company as the first producer of polyisocyanurate (PIR) and polyurethane (PUR) to achieve such recognition. Recticel Insulation's thermal insulation products will now incorporate multilayer paper facings derived from sustainably managed forests that are PEFC-certified. This initiative showcases the company's commitment to utilizing wood fibers from environmentally responsible sources.

Key Questions Answered in Electric Insulator Market Report

  • What specific growth drivers are projected to impact the market during the forecast period?
  • Can you list the top companies in the market and explain how they have achieved their positions of influence?
  • In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?

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