Have a Question?
Electric Insulator Market Forecasts to 2028 - Global Analysis By Type (Suspension Insulator, Shackle Insulator, Pin Insulator and Other Types), Voltage (High, Medium and Low), Material Type (Composite, Ceramic, Glass and Other Material Types), Category (Bushings and Other Categories), Rating (<11 kV, 11 kV and Other Ratings), Installation, Application, End User and Geography
Estimated Year Value (2022)
US $13.50 BN
Projected Year Value (2028)
US $20.49 BN
CAGR (2022 - 2028)
North America, Europe, Asia Pacific, South America, and Middle East & Africa
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa
Highest Growing Market
According to Stratistics MRC, the Global Electric Insulator Market is accounted for $13.50 billion in 2022 and is expected to reach $20.49 billion by 2028 growing at a CAGR of 7.2% during the forecast period. Insulators are not conducive to electrical energy. Insulators have a high resistance and a low conductivity. Insulators are needed in every electrical circuit. Insulators prevent current leakage and protect the safety of persons as well as the stable operation of an electric circuit. Insulators are used to isolate electrical equipment and circuits from outside interference. Mechanical support is provided by electrical insulators in power transmission cables. Electrical insulators used in power transmission lines must be able to bear strains.
According to the power baseline scenario, the world’s power sector will need to invest around $16.4 trillion over the next 30 years, with transmission and distribution infrastructure making up the most significant portion of the subsector.
Government encouraging the development of a sustainable electricity grid
The electrical transmission and distribution system, in conjunction with an integrated and optimised power technology, encompasses power generation, distribution, and storage, allowing customers to distribute electricity effectively. Because of the rising demand for efficient and dependable electrical supply, the T&D network has grown significantly over the years. It is also accompanied by greater government investment and favourable legislation, which encourage the development of a sustainable power system, particularly in developing Asia and Africa.
Power transmission and distribution networks requires massive investment
The expansion of electrical transmission and distribution networks necessitates enormous government and private-sector investments. However, the lack of government aid, combined with the economic recession, may have an impact on industrial growth. Installation of power transmission and distribution infrastructure will cost millions of dollars, depending on the size and needs of the region, without the need for a new power source. Furthermore, in order to achieve the necessary flexibility in available electricity infrastructures, the power grid must combine a number of technologies and components. The lack of a sustainable business model, followed by ineffective regulations and policies, has created impediments to commercial and private investment, impeding the expansion of the transmission and distribution network.
Emerging investment opportunities
Electrical insulators interrupt the flow of electrons. It is utilised in high-voltage systems, circuit boards, as well as electric wire coating and cables. High investments in the rehabilitation of outdated grid infrastructure across developed and developing nations, as well as the acceptance of smart grid technology, are likely to boost the global electric insulators market. The expenditure on electrical infrastructure upgrading, as well as rising urbanisation and repair and replacement of existing assets, demonstrate the enormous demand and market growth potential. Increased demand, capacity bottlenecks, and a growing emphasis on power generation capacity increase will boost the growth of the electric insulator business.
Volatility in raw materials
Rapid fluctuations in raw material prices would have a substantial impact on the manufacturing of electric insulators. The primary materials needed to make insulators include steel and silicon rubber. The costs of these materials are highly volatile and fluctuate regularly. This price volatility might be ascribed to the fact that China, one of the world's top steel producers, has had weak economic development over the last three years. The country's manufacturing industry is likely to deteriorate more in the future, resulting in significant price fluctuations. The fluctuation of raw material prices would be a significant concern for the electric insulator business.
COVID-19 has had a significant impact on the world economy, with disastrous repercussions on global trade, affecting households, businesses, financial institutions, industrial facilities, and infrastructural corporations all at the same time. The new coronavirus has impacted numerous economies and triggered lockdown in many nations, limiting market growth. The shutdown of industrial manufacturers caused a drop in demand for solar-related equipment in most nations throughout the world, resulting in a drop in demand for the electric insulator industry. The decrease in electricity use in industrial facilities around the world during the outbreak has a detrimental impact on market development.
The transformer segment is expected to be the largest during the forecast period
The transformer segment is estimated to have a lucrative growth, due to the government national renewable targets and the replacement of conventional electrical networks. To support the expanding renewable mix, utilities have prioritised grid upgrades and expansion. Favourable policies such as incentives, leverage schemes, feed-in tariffs, and subsidies to stimulate the deployment of sustainable energy sources would, in turn, accelerate corporate growth. Furthermore, the increased installation of various transformer types to fulfil rising electrical demands has resulted in the transformer category holding the biggest market share.
The utilities segment is expected to have the highest CAGR during the forecast period
The utilities segment is estimated to have a lucrative growth, due to the increasing investments & expenditures for the expansion of utility infrastructures and transmission networks across remote locations. Rising R&D operations aimed at updating the grid structure to accommodate increased electricity consumption will propel the industry forward. Furthermore, the incorporation of smart grid technology supported by several rollout programmes will supplement market trends. The existence of the above mentioned electric insulator applications in power generation and transmission utilities would create sufficient opportunities for the industry.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to rapid industrialization and urbanization. It also has a substantial number of megacities and a rapidly growing population. China and India are the region's primary revenue generators. Population growth pushes up demand for power, which drives up demand for passive electrical components like insulators. Smart cities and smart grids are projected to drive the market in the future years.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to the presence of several well-established players in countries such as the U.S and Canada. Furthermore, in the United States, initiatives to improve the electric grid to fulfil energy demand, environmental, and security concerns for the twenty-first century have increased public and private sector grid modernization investments. The presence of R&D centres in countries such as the United States and Canada is likely to boost the region's total electric insulator market.
Key players in the market
Some of the key players profiled in the Electric Insulator Market include Olectra Greentech, Aditya Birla Insulators, Hubbell Power Systems, NGK Insulators, Ltd., ABB Ltd, Siemens AG,GE Grid Solutions, Elsewedy Electric, Zhengzhou Orient Power, INCAP, Hitachi Energy, Almatis GmbH, TE Connectivity and MacLean-Fogg Company
In April 2021, GE Renewable Energy’s Grid Solutions business and Hitachi ABB Power Grids Ltd announced an agreement related to the use of an alternative gas to sulfur hexafluoride (SF?) for use in high voltage equipment. The company also revealed that the partnership will help accelerate the use of fluoronitrile-based eco-efficient insulation and switching gas in high-voltage equipment as an alternative to SF? gas.
In June 2019, ABB has released a DC-based power distribution system known as Onboard Microgrid to help smaller vessels improve fuel efficiency.
In June 2019, Siemens has signed an agreement with the Egyptian Electricity Transmission Company (EETC) to supply the country’s first digital power transformer – Siemens’ Sensformer.
In June 2019, Larsen & Toubro (L&T) has bagged a turnkey contract for building a power generation project worth over Rs 7,000 crore.
• Suspension Insulator
• Shackle Insulator
• Pin Insulator
• Other Types
Material Types Covered:
• Other Material Types
• Other Categories
• <11 kV
• 11 kV
• 22 kV
• 33 kV
• 72.5 kV
• 145 kV
• Other Ratings
• Distribution Networks
• Transmission Lines
• Other Installations
• Surge Protection Devices
• Other Applications
End Users Covered:
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
3 Market Trend Analysis
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Electric Insulator Market, By Type
5.2 Suspension Insulator
5.3 Shackle Insulator
5.4 Pin Insulator
5.5 Other Types
6 Global Electric Insulator Market, By Voltage
7 Global Electric Insulator Market, By Material Type
7.5 Other Material Types
8 Global Electric Insulator Market, By Category
8.3 Other Categories
9 Global Electric Insulator Market, By Rating
9.2 <11 kV
9.3 11 kV
9.4 22 kV
9.5 33 kV
9.6 72.5 kV
9.7 145 kV
9.8 Other Ratings
10 Global Electric Insulator Market, By Installation
10.3 Distribution Networks
10.4 Transmission Lines
10.6 Other Installations
11 Global Electric Insulator Market, By Application
11.2 Surge Protection Devices
11.7 Other Applications
12 Global Electric Insulator Market, By End User
12.4 Other End Users
13 Global Electric Insulator Market, By Geography
13.2 North America
13.3.6 Rest of Europe
13.4 Asia Pacific
13.4.5 New Zealand
13.4.6 South Korea
13.4.7 Rest of Asia Pacific
13.5 South America
13.5.4 Rest of South America
13.6 Middle East & Africa
13.6.1 Saudi Arabia
13.6.4 South Africa
13.6.5 Rest of Middle East & Africa
14 Key Developments
14.1 Agreements, Partnerships, Collaborations and Joint Ventures
14.2 Acquisitions & Mergers
14.3 New Product Launch
14.5 Other Key Strategies
15 Company Profiling
15.1 Olectra Greentech
15.2 Aditya Birla Insulators
15.3 Hubbell Power Systems
15.4 NGK Insulators, Ltd.
15.5 ABB Ltd
15.6 Siemens AG
15.7 GE Grid Solutions
15.8 Elsewedy Electric
15.9 Zhengzhou Orient Power
15.11 Hitachi Energy
15.12 Almatis GmbH
15.13 TE Connectivity
15.14 MacLean-Fogg Company
List of Tables
1 Global Electric Insulator Market Outlook, By Region (2020-2028) ($MN)
2 Global Electric Insulator Market Outlook, By Type (2020-2028) ($MN)
3 Global Electric Insulator Market Outlook, By Suspension Insulator (2020-2028) ($MN)
4 Global Electric Insulator Market Outlook, By Shackle Insulator (2020-2028) ($MN)
5 Global Electric Insulator Market Outlook, By Pin Insulator (2020-2028) ($MN)
6 Global Electric Insulator Market Outlook, By Other Types (2020-2028) ($MN)
7 Global Electric Insulator Market Outlook, By Voltage (2020-2028) ($MN)
8 Global Electric Insulator Market Outlook, By High (2020-2028) ($MN)
9 Global Electric Insulator Market Outlook, By Medium (2020-2028) ($MN)
10 Global Electric Insulator Market Outlook, By Low (2020-2028) ($MN)
11 Global Electric Insulator Market Outlook, By Material Type (2020-2028) ($MN)
12 Global Electric Insulator Market Outlook, By Composite (2020-2028) ($MN)
13 Global Electric Insulator Market Outlook, By Ceramic (2020-2028) ($MN)
14 Global Electric Insulator Market Outlook, By Glass (2020-2028) ($MN)
15 Global Electric Insulator Market Outlook, By Other Material Types (2020-2028) ($MN)
16 Global Electric Insulator Market Outlook, By Category (2020-2028) ($MN)
17 Global Electric Insulator Market Outlook, By Bushings (2020-2028) ($MN)
18 Global Electric Insulator Market Outlook, By Other Categories (2020-2028) ($MN)
19 Global Electric Insulator Market Outlook, By Rating (2020-2028) ($MN)
20 Global Electric Insulator Market Outlook, By <11 kV (2020-2028) ($MN)
21 Global Electric Insulator Market Outlook, By 11 kV (2020-2028) ($MN)
22 Global Electric Insulator Market Outlook, By 22 kV (2020-2028) ($MN)
23 Global Electric Insulator Market Outlook, By 33 kV (2020-2028) ($MN)
24 Global Electric Insulator Market Outlook, By 72.5 kV (2020-2028) ($MN)
25 Global Electric Insulator Market Outlook, By 145 kV (2020-2028) ($MN)
26 Global Electric Insulator Market Outlook, By Other Ratings (2020-2028) ($MN)
27 Global Electric Insulator Market Outlook, By Installation (2020-2028) ($MN)
28 Global Electric Insulator Market Outlook, By Substations (2020-2028) ($MN)
29 Global Electric Insulator Market Outlook, By Distribution Networks (2020-2028) ($MN)
30 Global Electric Insulator Market Outlook, By Transmission Lines (2020-2028) ($MN)
31 Global Electric Insulator Market Outlook, By Railways (2020-2028) ($MN)
32 Global Electric Insulator Market Outlook, By Other Installations (2020-2028) ($MN)
33 Global Electric Insulator Market Outlook, By Application (2020-2028) ($MN)
34 Global Electric Insulator Market Outlook, By Surge Protection Devices (2020-2028) ($MN)
35 Global Electric Insulator Market Outlook, By Transformer (2020-2028) ($MN)
36 Global Electric Insulator Market Outlook, By Cables (2020-2028) ($MN)
37 Global Electric Insulator Market Outlook, By Busbar (2020-2028) ($MN)
38 Global Electric Insulator Market Outlook, By Switchgear (2020-2028) ($MN)
39 Global Electric Insulator Market Outlook, By Other Applications (2020-2028) ($MN)
40 Global Electric Insulator Market Outlook, By End User (2020-2028) ($MN)
41 Global Electric Insulator Market Outlook, By Industries (2020-2028) ($MN)
42 Global Electric Insulator Market Outlook, By Utilities (2020-2028) ($MN)
43 Global Electric Insulator Market Outlook, By Other End Users (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
Frequently Asked Questions
In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: email@example.com or phone: +1-301-202-5929
Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.
Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.
All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: firstname.lastname@example.org or phone: +1-301-202-5929
We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at email@example.com or call us on +1-301-202-5929.
We have 3 different licensing options available in electronic format.
- Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
- 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
- Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.
All our reports are typically be emailed to you as an attachment.
To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.
We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.
We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at firstname.lastname@example.org or call us on +1-301-202-5929.
Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.
WHY CHOOSE US ?
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.