Electric Insulator Market Size, Key Insights, Profiling Companies And Growth Strategies By 2028

The Global Electric Insulator Market is expected to grow from US$ 10,324.5 million in 2021 to US$ 15,309.3 million by 2028; it is estimated to grow at a CAGR of 5.8% during 2021-2028.

Electric insulators play a key role in ensuring safety and stability in power transmission and distribution applications by protecting various components such as transmission lines, steel towers, and substation equipment from unwanted flow of current. Electric insulators are widely used to provide mechanical support and electrical protection to various equipment and systems that are deployed in transmission & distribution centers and substations worldwide.

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Analysis of the Top Market Players:

1. Hitachi ABB Power Grids Group
2. Aditya Birla Insulators
3. General Electric Company
4. Hubbell Incorporated
5. MacLean-Fogg Company
6. NGK Insulators, Ltd.
7. PFISTERER Holding AG
8. SEVES Group
9. Siemens AG
10. TE Connectivity Ltd.

In this report, the market has been segmented on the basis of:

Product Type (Shackle Insulator, Pin Insulator, Suspension Insulator, and Other Product Types)
Material Type (Ceramic, Glass, and Composite)
Application (Transformer, Busbar, Cable, Switchgear, Surge Protection Device, and Other Applications)
End User (Utilities, Industries, and Other End Users)

The companies operating in this market are focusing on providing high quality electric insulators by using advanced technologies and superior materials to meet growing demands of end users. Pin insulator, suspension insulator, strain insulator, post insulator, and shackle insulator are some of the major types of electric insulators that are being used in transmission, distribution, substation, and railways applications globally. These insulators are being used for low, medium and high voltage applications in utilities and industrial applications. The high level of industrial growth in developing regions, rising investments in power & transportation infrastructure by governments worldwide, and upgradation of old grid infrastructure in developed countries are some of the key factors that are driving the demand of various types of electric insulators worldwide.

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The global electric insulator market is segmented on product type, material type, application, end user, and geographic regions. Based on product type, the electric insulator market is segmented into shackle insulator, pin insulator, suspension insulator, and others. The pin insulator segment held the largest market share in 2020. On the basis of material type, the market is segmented into ceramic, glass, and composite. The composite segment is anticipated to be the fastest growing material type during the forecast period of 2021 to 2028. Transformer, busbar, cable, switchgear, and surge protection device among others are the key application areas of global electric insulator market. In 2020, transformer application held the largest market share followed by cables. On the basis of end user, the market is segmented into utilities, industries, and others. The utilities segments are expected to dominate the market over the forecast period. Geographically, the global electric insulator market is segmented into North America, Europe, APAC, MEA, and SAM. In 2020, the market was dominated by APAC region with more than ~34.5% revenue share, followed by North America and Europe.

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