The development and expansion of T&D networks worldwide have a positive impact on the growth of the global electric insulator market. Owing to rising demand for electricity, governments of various countries such as Germany, China, and India are directing their initiatives to build a strong power infrastructure. These initiatives will fuel the enhancement of power generation and T&D infrastructure and facilitate market growth.
Complete report on electric insulator market spread across 55 pages, analyzing 5 major companies and providing 23 data exhibits is now available at:
The analysts forecast global electric insulator market to grow at a CAGR of 6.23% during the period 2016-2020. Smart grids play a significant role in catering to the rising power needs effectively, especially with regard to distribution of electricity. Smart grids enable the integration of distributed energy resources (DERs) such as renewable energy power sources. Conventional energy networks, particularly electricity, are undergoing many changes due to growing contribution from renewable sources and increased demand for electricity, owing to electrification of transport. Electric insulators are essentially deployed in the electrical systems of smart grids. Development in the global smart grid market facilitates more demand for electric insulators.
The global electric insulator market is projected to witness steady growth during the forecast period, and the prospects for its growth will be enhanced by its rising applicability for power generation and in T&D equipment such as transformers, substations, and switchgear. The high demand for bushings from the transformer and switchgear industry is a major factor that will result in this market’s steady CAGR of more than 6% until 2020.
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Segmentation by product type and analysis of the electric insulator market – Bushings and Others (including insulators employed in overhead T&D lines)
Comprehensive segmentation analysis carried out by the analysts has shown that the bushings segment led the market for electric insulators in 2015 and will continue to do so till the end of 2020. Since bushings help to insulate a conductor, they are extensively employed in equipment like transformers, switchgear, and lightning arrestors. Factors such as new product developments and expansion of the power infrastructure, which includes power plants, substations, and T&D network, in APAC will bolster the demand for bushings during the forecast period.
The global electric insulator market is characterized by the presence of intense competition among the top players. In developed countries, the competition is higher due to the presence of numerous global vendors. In emerging economies, such as China and India, the local players dominate this market. The local players have an advantage over global players in terms of product pricing and the availability of a robust supply chain and distribution systems.
The key leading vendors analyzed electric insulator market are ABB, Aditya Birla Nuvo, NGK Insulators, Siemens, and Toshiba.
Other prominent vendors analyzed in this market research are BHEL, Krempel, Maclean-Fogg, PFISTERER, Seves, and WT Henley.
Further, the electric insulator market report states that availability of the raw materials play a crucial role in the production of insulators, and has a direct impact on market growth.
Another related report is Global Switchgear Market 2015-2019, the analysts forecast global switchgear market to grow at a CAGR of 10.71% over the period 2015-2019. The cumulative demand from replacement activities is one of the major factors driving the market. Several electric utilities and non-utility generators are replacing old equipment such as T&D transformers, switchgears, circuit breakers, and pole and line hardware, with technically advanced T&D equipment. The use of legacy T&D equipment leads to huge power losses, thereby reducing overall organizational productivity and hiking operational costs. However, the effective deployment of the latest T&D equipment enables electricity providers to improve their operational productivity.
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Key players in the global switchgear market: ABB, Alstom Grid, GE, Schneider Electric and Siemens.
Other prominent vendors in the market are: BHEL, Crompton Greaves, Eaton, Hyosung Power and Industrial Systems, Mitsubishi Electric, OJSC Power and Xian XD.
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