Electric Insulator Market Analysis

Global Electric Insulator Market Overview:

Electric Insulator Market Size was valued at USD 11.11 Billion in 2023. The Electric Insulator market industry is projected to grow from USD 11.77 Billion in 2024 to USD 17.59 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.16% during the forecast period (2024 - 2032). Utilities are progressively improving their current infrastructure to accommodate the fast integration of renewables and distributed technologies onto the grid are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Electric Insulator Market Trends

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  Growing spending on transmission and distribution networks is driving the market growth

  
  

Market CAGR for electric insulator is being driven by the rising spending on transmission and distribution networks. More than 60 million km of transmission and distribution lines must be constructed, upgraded or replaced to fulfill the increased demand for power. According to the power baseline scenario, the power industry will require around $16.4 trillion in investment over the next 30 years, with transmission and distribution facilities accounting for the lion's share. The industrial preference for advancing current electrical infrastructure has affected the industry outlook positively. 

Electricity demand, efficiency benefits, and the possibility to reduce carbon emissions are some of the primary causes driving huge investment in electricity transmission infrastructure and electric insulators. Electrical insulators stop the electron flow of current. It's utilized in high-voltage systems, circuit boards, and electric wire coating and cables, among other things. The worldwide electric insulators market is likely to be driven by high investments in repairing aging grid infrastructure across major and emerging nations and the acceptance of smart grid technologies. T

he investment in modernizing electrical infrastructure, rising urbanization and rehabilitation, and replacing existing assets demonstrate the enormous demand and market development potential. Increased demand, capacity limitations, and a growing emphasis on power production capacity increase will all contribute to the growth of the electric insulator sector. A smart grid is an advanced circuit technology that allows for remote monitoring of proper operation. Smart devices use two-way communication technologies, allowing the utility to communicate with them and manage their operation to detect defects. 

Increases in Investments in smart city initiatives have created enormous opportunities for market actors, service providers, utility suppliers, and consultancy firms. With technology and adequate resource utilization, critical services such as utilities, safety, transportation, and health must be managed more efficiently and intelligently. The growth rate of smart cities depends on smart grids providing reliable electricity to accomplish the job. APAC's rapid urbanization will likely drive the adoption of smart city technology.

High investments in smart grid technology, distribution system automation, and power quality equipment are boosting demand for electric insulators in Japan, South Korea, India, China, and Australia. Ceramic insulators often have a greater dielectric constant that does not fluctuate much with temperature, as opposed to glass, which conducts more electricity at higher temperatures, implying that the dielectric constant of glass varies with temperature. 

The expanding transmission and  rising energy consumption, distribution network, and the penetration of renewables in the energy mix will likely increase demand for ceramic electrical insulators.  This is a positive indicator for the transmission and distribution market and thus offers a bright market outlook for ceramic electric insulators in the coming years. Thus, driving the Electric Insulator market revenue.

Electric Insulator Market Segment Insights:

Electric Insulator Type Insights

Based on type, the Electric Insulator market segmentation includes ceramic, composite, and glass. The ceramic segment dominated the market, accounting for 35% of market revenue. Ceramic electrical insulators are typically employed in high-voltage insulating systems. Furthermore, these insulators may be customized for use in high-temperature resistors. Ceramic insulators often have a greater dielectric constant that does not fluctuate much with temperature, as opposed to glass, which conducts more electricity at higher temperatures, implying that the dielectric constant of glass varies with temperature.

Electric Insulator Voltage Insights

Based on voltage, the Electric Insulator market segmentation includes low, medium, and high. The high segment dominated the market because of these units' widespread use in numerous transmission systems. The growing construction of high-capacity transmission networks designed to transfer electrical signals across great distances will lead to increased product demand.

Electric Insulator Application Insights

Based on application, the Electric Insulator market segmentation includes cable, transformer, switchgear, busbar, and others. The transformer segment dominated the market because of the government's national renewable ambitions and the replacement of traditional electricity networks. Utilities have prioritized grid upgrades and expansion to support the expanding renewable mix. Favorable policies such as incentives, leverage schemes, feed-in tariffs, and subsidies to support the deployment of renewable energy sources would, in turn, drive market expansion even further.

Electric Insulator End User Insights

Based on End Users, the Electric Insulator market segmentation includes utilities, industries, and others. The utilities category generated the most income. The electric insulator market in utilities is expected to expand due to increased investments and expenditures for constructing utility infrastructures and transmission networks in remote areas. Growing R&D operations aimed at modernizing the grid system to accommodate growing power consumption will propel the sector forward.

Figure 1: Electric Insulator Market, by End User, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Electric Insulator Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World.  Because of a growth in the number of people afflicted by cardiovascular devices and obesity, the North American Electric Insulator market will dominate this industry. Furthermore, the increasing number of well-established health clubs and exercise facilities will drive market expansion in this area.

The major countries studied in the market report are The US, Canada, German, the UK, Italy,France, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Electric Insulator Market Share By Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe has the second-largest market share for Electric insulators. The European power grid is high and is expected to be high throughout the projection period due to the availability of an excellent standard for renewable energy integration and utilization in the area. It can also help other developed and emerging nations improve energy transformation and attain a high share of renewable energy consumption. Furthermore, the German Electric Insulator market dominated, while the UK Electric Insulator market grew fastest in Europe.

From 2023 to 2032, the Asia-Pacific Electric Insulator Market will develop quickly because of developing economies such as India and China. Due to rising expenditures in the smart grid infrastructure development, T&D spending, growing dependency on renewable power production sources, and infrastructural activity in the recent past. Furthermore, China's Electric Insulator market had the highest market share, while India's was the fastest expanding in the Asia-Pacific region.

Electric Insulator Key Market Players & Competitive Insights

Leading market companies are extensively spending R&D on increasing their product lines, which will help the Electric Insulator market grow even more. Important market developments include new product releases, contractual agreements, acquisitions and mergers, greater investments, and collaboration with other organizations. The Electric Insulator industry must produce cost-effective merchandise to flourish and thrive in a more competitive and increasing market climate.

Manufacturing locally to reduce operating costs is an effective business strategy manufacturers use in the worldwide Electric Insulator industry to serve clients and expand the market sector. The Electric Insulator industry has provided some of the most important benefits recently.  Olectra Greentech Limited (Olectra),  GE Renewable Energy and other major competitors in the Electric Insulator market are seeking to improve market demand by investing in R&D efforts.

GE Renewable Energy is a branch of General Electric that manufactures and provides services. Its headquarters are in Boulogne-Billancourt, France, and it concentrates on developing renewable energy systems. Wind (onshore and offshore), hydroelectric, and solar (concentrated and photovoltaic) power generation facilities are among its offerings.

GE's Grid Solutions division includes Alstom's former subsidiary, Alstom Grid, and the high-voltage power grid equipment and engineering capabilities of Areva T&D, a former part of the French multinational Areva.. In May 2021, The Grid Solutions unit of GE Renewable Energy and Hitachi ABB Power Grids Ltd. announced an agreement to use an alternate gas to sulfur hexafluoride in high-voltage equipment.

Olectra Greentech Limited is India's Pure Electric Bus manufacturer, with production facilities in Hyderabad, India. Olectra is electric bus manufacturer, having developed and deployed all varieties of electric buses in India. After dominating the commercial run of electric buses, the business is expanding its product range in the e-mobility area with electric trucks and electric tippers. 

In April 2021, Olectra Greentech, a renowned maker of electric insulators, has received a significant order for the delivery of composite long rod insulators worth USD 4 million. An Indian power transmission company placed a domestic order for electric insulators with a voltage rating of 765 kV with the business.

Key Companies in the Electric Insulator market include

• ABB (Switzerland)


• General Electric (US)


• Siemens (Germany)


• NGK Insulators (Japan)


• Hubbell (US)


• Toshiba (Japan)


• Bharat Heavy Electricals Limited (India)


• Lapp Insulators (Germany)


• Maclean Fogg (US)


• Southwire Company (US).

Electric Insulator Industry Developments

April 2022:PFISTERER Holding AG has begun operations in a new Swiss plant. The high-voltage laboratory and services, such as training and assembly, will be the primary emphasis of the Altdorf location. As part of this strategic move, the two facilities will be merged to form a new sales and technology center in Küssnacht. The concentration of resources and investments in the new center seeks to improve the company's overall competitiveness. Creating the sales and technology center will allow the corporation to service its clients better while driving product innovations.

February 2022:Recticel Insulation stated that its multilayer thermal insulation solutions have been certified by the Programme for Endorsement of Forest Certification (PEFC). The business claims to be the first to synthesize polyisocyanurate (PIR) and polyurethane (PUR). The insulation producer will sell thermal insulation products with multilayer paper facings derived from wood fibers supplied from PEFC-certified and sustainably managed forests.

It is in the same way that Phoenix Tower obtained investments from Grain and BlackRock in March 2024 for its expansion. It will be used to expand tower infrastructure worldwide with the goal of meeting new and existing market demands. This means positive changes in the electric insulator market dynamics due to the increasing need for telecommunication towers.

For example, Indus Towers Limited, the biggest telecom tower company globally, joined hands with Hi-COM Network Private Limited, one of the leading internet service providers, during February 2024 to enrich their telecommunications infrastructures and promote eco-sustainability.

The above is an instance where SEWA announced at least four power transmission stations with a capacity of 33 kV are operational, while seven others have been completed since January 2024.

This is exemplified by Ather Energy putting up its 580th public fast charging point (Ather Grid) in October 2022 across all Indian towns, totaling about fifty-six cities. The rapid increase in EVs, as well as their charging stations, indicates good times ahead for the electric insulator sector.

Recticel Insulation made an interesting announcement this February, saying that it had managed to attain certification for its multilayer thermal insulation products under the PEFC program. In addition, this has seen Recticel Insulation become the first PIR and PUR manufacturer anywhere on earth that has ever received such recognition. With immediate effect, these multi-layer paper facings are sourced from sustainably managed forests, which are PEFC-certified across all thermal insulation products produced by Recticel Insulation. This step demonstrates the firm’s approach towards using forest fiber coming from sources with environmental authority.

Thus, GE Renewable Energy’s Grid Solutions business collaborated with Hitachi ABB Power Grids Ltd during April 2021 to change HV equipment forever. Thus, they introduced a new concept whereby fluoronitrile-based coolants were being promoted as opposed to SF₆ gas by these firms. The entire program for the development and deployment of an eco-efficient F-gas alternative insulation gas (SF₆) can be seen as a joint venture between these companies. Besides illustrating their commitment to sustainability, this move by partners will hasten the adoption of environmentally friendly solutions in high-voltage equipment, thus promoting green technology.

Electric Insulator Market Segmentation:

Electric Insulator Type Outlook

• Ceramic


• Composite


• Glass

Electric Insulator Voltage Outlook

• Low


• Medium


• High

Electric Insulator Application Outlook

• Cable


• Transformer


• Switchgear


• Busbar


• Others

Electric Insulator End User Outlook

• Utilities


• Industries


• Others

Electric Insulator Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America