High Voltage Composite Insulators Market
PUBLISHED: 2024 ID: SMRC25706
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High Voltage Composite Insulators Market

High Voltage Composite Insulators Market Forecasts to 2030 - Global Analysis By Insulator Type (Suspension Insulators, Line Post Insulators, Braced Insulators, Station Post Insulators and Other Insulator Types), Material Type (Silicon Rubber, EPDM (Ethylene Propylene Diene Monomer) and Other Material Types), Voltage Range, Application, End User and by Geography

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4.9 (33 reviews)
Published: 2024 ID: SMRC25706

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global High Voltage Composite Insulators Market is accounted for $846.0 million in 2023 and is expected to reach $1536.6 million by 2030 growing at a CAGR of 8.9% during the forecast period. High-voltage composite insulators are cutting-edge electrical parts made to withstand high-voltage power distribution and transmission systems. Usually, these insulators are made of a polymer-reinforced core material, such as fiber glass or epoxy. Comparing composite materials to traditional porcelain insulators, their overall performance, mechanical strength, and resilience to environmental variables are all improved. Moreover, low weight, increased resistance to pollutants, and increased resistance to electrical tracking are just a few benefits of using high-voltage composite insulation.

According to the International Electrical and Electronics Engineers Association (IEEE), high voltage composite insulators have gained widespread recognition for their superior performance, offering enhanced mechanical strength, resistance to environmental factors, and overall reliability in high-voltage power transmission and distribution systems.

Market Dynamics: 

Driver: 

Growing need for dependable transmission infrastructure for power

Demand for dependable power transmission infrastructure is growing globally, and this has a big impact on the high-voltage composite insulator market. There is an increasing demand for durable parts that can tolerate high voltages and guarantee a steady supply of energy as countries work to modernize and improve their electrical networks. Furthermore, the demand for increased mechanical strength and endurance above conventional alternatives is met by high-voltage composite insulators, thanks to their sophisticated materials and design.

Restraint:

Expense factors and initial investment

The initial cost of these sophisticated components is a major barrier to the market for high-voltage composite insulators. High-voltage composite insulators provide advantages in the long run, although they can cost more up front than more conventional options. Additionally, this aspect could impede the general adoption of these insulators by discouraging utilities with tight budgets or projects with strict cost constraints.

Opportunity:

Increasing focus on modern grid infrastructure

The market for high-voltage composite insulators has a lot of potential due to the growing emphasis on grid modernization. Modern and updated electrical infrastructure is expensive; therefore, utilities and power providers are under pressure to find cutting-edge parts that will improve the grid's resilience, efficiency, and dependability. Moreover, owing to their technological advantages, high-voltage composite insulators are in a good position to take advantage of this.

Threat:

Intense market rivalry

The existence of fierce competition is one of the main risks to the high-voltage composite insulator market. Many producers enter the market as it grows, which causes price wars and pressure on margins. Furthermore, the potential for rivals to offer comparable goods at cheaper costs can have an effect on the market share and profitability of current companies, making strategic differentiation and innovation necessary to maintain a competitive advantage.

Covid-19 Impact: 

The COVID-19 outbreak caused significant disruptions in the market for high-voltage composite insulators. The production and deployment of high-voltage composite insulators were negatively impacted by supply chain disruptions, lockdown procedures, and project delays. However, the business showed indications of recovery as the sector adjusted to safety procedures and remote labor, as well as a greater dependence on robust electrical infrastructure. Resurgent demand for high-voltage composite insulators is anticipated in the post-pandemic era due to the emphasis on modernizing power grids for improved reliability and efficiency, while caution should be exercised regarding potential obstacles in supply chain dynamics and market uncertainty.

The Suspension Insulators segment is expected to be the largest during the forecast period

In the high-voltage composite insulator market, the suspension insulator segment usually has the largest market share. Conductor support and insulation are provided by suspension insulators, which are frequently employed in overhead transmission lines. They are appropriate for various voltage levels due to their design, which facilitates the efficient distribution of electrical and mechanical stresses. The versatility, dependability, and resistance to adverse environmental conditions of suspension insulators are the main factors driving their high demand. Furthermore, suspension insulators are used in safe overhead transmission systems and this necessity is anticipated to drive the high-voltage composite insulator market as the power sector grows, particularly in developing nations.

The Cables & Transmission Lines segment is expected to have the highest CAGR during the forecast period

Alongside the growth of power infrastructure, the Cables & Transmission Lines segment has seen the highest CAGR. By offering insulation and mechanical support, high-voltage composite insulation is essential to improving the dependability and efficiency of these transmission lines. Strong transmission systems utilizing composite insulators in cables and lines are anticipated to be necessary as the world's demand for electricity rises due to urbanization and industrialization, which would likely result in high growth. Additionally, due to their durability and portability, these insulators will probably be used more frequently in the Cables & Transmission Lines market, protecting the efficiency and integrity of high-voltage power transmission networks.

Region with largest share:

The Asia-Pacific region holds the largest market share for high-voltage composite insulators. Rapid urbanization and industrialization in nations like China and India have raised energy consumption to a considerable degree, necessitating the construction of high-voltage infrastructure. Furthermore, investments in renewable energy initiatives, including solar and wind farms, have helped the high-voltage composite insulator business in the area expand. The need for high-quality insulators that can tolerate high voltages and harsh weather conditions has increased due to the growth of transmission and distribution networks as well as the emphasis on updating old infrastructure.

Region with highest CAGR:

The Middle East and Africa (MEA) is anticipated to have the highest CAGR in the market for high-voltage composite insulators. Rapid industrialization, urbanization, and infrastructure development are occurring in the MEA region, which is driving up energy consumption and necessitating the installation of high-voltage transmission and distribution networks. The area is also rich in natural resources, especially gas and oil, which make upgrading and expanding the electrical infrastructure necessary. Moreover, strong expansion of the high-voltage composite is anticipated as a result of government initiatives that are supportive of sustainable and dependable energy solutions.

Key players in the market

Some of the key players in High Voltage Composite Insulators market include TE Connectivity, CYG Insulator Co., Ltd., Nanjing Electric, Aditya Birla Insulators, Siemens Energy, Vexila (Pty) Ltd., Lapp Insulators, ABB Ltd, Hitachi Energy Ltd., General Electric Company (GE), PPC Insulators, Exel Composites, Deccan Enterprises Private Limited and Pfisterer Holding SE.

Key Developments:

In December 2023, TE Connectivity Ltd. announced that it has entered into a definitive agreement to acquire AdvancedCath, a contract manufacturer serving medical device OEMs, for $190 million in cash. The purchase will allow TE's medical business to provide customers with more completely integrated products. TE's medical business designs and manufactures connectors, sensors and components for use in surgical, interventional catheter, imaging, diagnostic and therapeutic healthcare applications.

In December 2023, The IEC International Standards Promotion Center (Nanjing) and Huawei signed a strategic cooperation agreement to cooperate extensively across multiple fields to accelerate the digital transformation of the electric power industry in China. In accordance with the agreement, the IEC International Standards Promotion Center (Nanjing) and Huawei will develop mechanisms for mutual high-level visits and regular exchanges.
 
In November 2023, German multinational technology conglomerate Siemens AG intends to enter into a share purchase agreement with Siemens Energy to acquire an 18% stake in Siemens Ltd. India from Siemens Energy, for a purchase price of 2.1 billion euro in cash, the company said on Wednesday. This would increase Siemens’ stake in the publicly listed Siemens Ltd. India from 51% to 69%, while Siemens Energy’s stake would decrease from 24% to 6%.

Insulator Types Covered:
• Suspension Insulators
• Line Post Insulators
• Braced Insulators
• Station Post Insulators
• Other Insulator Types 
 
Material Types Covered:
• Silicon Rubber
• EPDM (Ethylene Propylene Diene Monomer)
• Other Material Types 

Voltage Ranges Covered:
• Low Voltage (up to 69 kV)
• Medium Voltage (69 kV to 230 kV)
• High Voltage (above 230 kV)
• Other Voltage Ranges 

Applications Covered:
• Cables & Transmission Lines
• Switchgears
• Transformers
• Power Distribution
• Substations
• Bus Bars
• Other Applications 

End Users Covered:
• Commercial & Industrial
• Utilities
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
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 2021, 2022, 2023, 2026, and 2030
- 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
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary            
             
2 Preface            
 2.1 Abstract           
 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          
  2.5.3 Assumptions          
             
3 Market Trend Analysis            
 3.1 Introduction           
 3.2 Drivers           
 3.3 Restraints           
 3.4 Opportunities           
 3.5 Threats           
 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 High Voltage Composite Insulators Market, By Insulator Type            
 5.1 Introduction           
 5.2 Suspension Insulators           
 5.3 Line Post Insulators           
 5.4 Braced Insulators           
 5.5 Station Post Insulators           
 5.6 Other Insulator Types           
             
6 Global High Voltage Composite Insulators Market, By Material Type            
 6.1 Introduction           
 6.2 Silicon Rubber           
 6.3 EPDM (Ethylene Propylene Diene Monomer)           
 6.4 Other Material Types           
             
7 Global High Voltage Composite Insulators Market, By Voltage Range            
 7.1 Introduction           
 7.2 Low Voltage (up to 69 kV)           
 7.3 Medium Voltage (69 kV to 230 kV)           
 7.4 High Voltage (above 230 kV)           
 7.5 Other Voltage Ranges           
             
8 Global High Voltage Composite Insulators Market, By Application            
 8.1 Introduction           
 8.2 Cables & Transmission Lines           
 8.3 Switchgears           
 8.4 Transformers           
 8.5 Power Distribution           
 8.6 Substations           
 8.7 Bus Bars           
 8.8 Other Applications           
             
9 Global High Voltage Composite Insulators Market, By End User            
 9.1 Introduction           
 9.2 Commercial & Industrial           
 9.3 Utilities           
 9.4 Other End Users           
             
10 Global High Voltage Composite Insulators Market, By Geography            
 10.1 Introduction           
 10.2 North America           
  10.2.1 US          
  10.2.2 Canada          
  10.2.3 Mexico          
 10.3 Europe           
  10.3.1 Germany          
  10.3.2 UK          
  10.3.3 Italy          
  10.3.4 France          
  10.3.5 Spain          
  10.3.6 Rest of Europe          
 10.4 Asia Pacific           
  10.4.1 Japan          
  10.4.2 China          
  10.4.3 India          
  10.4.4 Australia          
  10.4.5 New Zealand          
  10.4.6 South Korea          
  10.4.7 Rest of Asia Pacific          
 10.5 South America           
  10.5.1 Argentina          
  10.5.2 Brazil          
  10.5.3 Chile          
  10.5.4 Rest of South America          
 10.6 Middle East & Africa           
  10.6.1 Saudi Arabia          
  10.6.2 UAE          
  10.6.3 Qatar          
  10.6.4 South Africa          
  10.6.5 Rest of Middle East & Africa          
             
11 Key Developments            
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures           
 11.2 Acquisitions & Mergers           
 11.3 New Product Launch           
 11.4 Expansions           
 11.5 Other Key Strategies           
             
12 Company Profiling            
 12.1 TE Connectivity           
 12.2 CYG Insulator Co., Ltd.           
 12.3 Nanjing Electric           
 12.4 Aditya Birla Insulators           
 12.5 Siemens Energy           
 12.6 Vexila (Pty) Ltd.            
 12.7 Lapp Insulators           
 12.8 ABB Ltd           
 12.9 Hitachi Energy Ltd.           
 12.10 General Electric Company (GE)           
 12.11 PPC Insulators           
 12.12 Exel Composites           
 12.13 Deccan Enterprises Private Limited           
 12.14 Pfisterer Holding SE           
             
List of Tables             
1 Global High Voltage Composite Insulators Market Outlook, By Region (2021-2030) ($MN)            
2 Global High Voltage Composite Insulators Market Outlook, By Insulator Type (2021-2030) ($MN)            
3 Global High Voltage Composite Insulators Market Outlook, By Suspension Insulators (2021-2030) ($MN)            
4 Global High Voltage Composite Insulators Market Outlook, By Line Post Insulators (2021-2030) ($MN)            
5 Global High Voltage Composite Insulators Market Outlook, By Braced Insulators (2021-2030) ($MN)            
6 Global High Voltage Composite Insulators Market Outlook, By Station Post Insulators (2021-2030) ($MN)            
7 Global High Voltage Composite Insulators Market Outlook, By Other Insulator Types (2021-2030) ($MN)            
8 Global High Voltage Composite Insulators Market Outlook, By Material Type (2021-2030) ($MN)            
9 Global High Voltage Composite Insulators Market Outlook, By Silicon Rubber (2021-2030) ($MN)            
10 Global High Voltage Composite Insulators Market Outlook, By EPDM (Ethylene Propylene Diene Monomer) (2021-2030) ($MN)            
11 Global High Voltage Composite Insulators Market Outlook, By Other Material Types (2021-2030) ($MN)            
12 Global High Voltage Composite Insulators Market Outlook, By Voltage Range (2021-2030) ($MN)            
13 Global High Voltage Composite Insulators Market Outlook, By Low Voltage (up to 69 kV) (2021-2030) ($MN)            
14 Global High Voltage Composite Insulators Market Outlook, By Medium Voltage (69 kV to 230 kV) (2021-2030) ($MN)            
15 Global High Voltage Composite Insulators Market Outlook, By High Voltage (above 230 kV) (2021-2030) ($MN)            
16 Global High Voltage Composite Insulators Market Outlook, By Other Voltage Ranges (2021-2030) ($MN)            
17 Global High Voltage Composite Insulators Market Outlook, By Application (2021-2030) ($MN)            
18 Global High Voltage Composite Insulators Market Outlook, By Cables & Transmission Lines (2021-2030) ($MN)            
19 Global High Voltage Composite Insulators Market Outlook, By Switchgears (2021-2030) ($MN)            
20 Global High Voltage Composite Insulators Market Outlook, By Transformers (2021-2030) ($MN)            
21 Global High Voltage Composite Insulators Market Outlook, By Power Distribution (2021-2030) ($MN)            
22 Global High Voltage Composite Insulators Market Outlook, By Substations (2021-2030) ($MN)            
23 Global High Voltage Composite Insulators Market Outlook, By Bus Bars (2021-2030) ($MN)            
24 Global High Voltage Composite Insulators Market Outlook, By Other Applications (2021-2030) ($MN)            
25 Global High Voltage Composite Insulators Market Outlook, By End User (2021-2030) ($MN)            
26 Global High Voltage Composite Insulators Market Outlook, By Commercial & Industrial (2021-2030) ($MN)            
27 Global High Voltage Composite Insulators Market Outlook, By Utilities (2021-2030) ($MN)            
28 Global High Voltage Composite Insulators Market Outlook, By Other End Users (2021-2030) ($MN)            
             
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.             

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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