Global Electric Insulator Market Dielectric Overview
Electric Insulator market size was valued at USD 11.4 Billion in 2020 and is expected to reach USD 20.86 Billion by 2030 growing at a CAGR of 6.3%
Electric vehicles are not new to this world, but the technological advancement and better concern on controlling pollution have given it an identifier of future mobility. The essential element of the EV, apart from Electric Vehicle Batteries, that’s changes the Internal Combustion engines is an Electric motor. The rapid expansion in the field of power electronics and control techniques has shaped space for various types of electric motors that are used in Electric Vehicles. With having characteristics like high starting torque, high power density, good efficiency, etc.
Global Electric Insulator Market Dielectric Drivers & Restraints
The growth in the deployment of an electric car is the major factor driving the growth for the target market. For instance According to eei.org Electric car utilization has been growing rapidly over the decade, with growth in a stoke of electric passenger cars around 5 million in 2018, with an increase of 63% from the previous year. Additionally some favourable government policies and support in terms of subsidies and grants, tax rebates and other non-financial benefits for buying an electric car such factor boost target market growth. Additionally, the manufacturer is introducing a new vehicle range, improved availability of charging infrastructure and proactive participation by automotive OEMs would drive the global electric vehicle sales.
Global Electric Insulator Market Dielectric Segmentations & Regional Insights
The Electric Insulator market is segmented based on dielectric material type, by end-user, and region.
By Dielectric Material type the electric insulator market is classified into ceramic/porcelain, glass, and composite/polymer. The Ceramic/porcelain type has dominated the electric insulator market Segment, owing to their high used in high voltage insulating systems. Also, these insulators can be custom manufactured to be applied in high-temperature resistors. Therefore the expanding transmission and distribution network, reinforced by growing energy consumption, penetration of renewables in the global energy mix, and some other factors are contributing to growth for target market segment. By End User, the Electric Insulator market is classified into a residential, commercial, and industrial sector/utilities.
Regional Insights:
By region, Asia-Pacific is expected to dominate the electric insulator market. This is an attribute to the growing demand for electricity due to the rapid industrialization and urbanization has increased the power generation capacity and fast expansion of transmission and distribution (T&D) infrastructure in the region, which supports the growth for the target market. for instance, according to UN CSPAP In 2013, Asia pacific population surpasses 65.6 million, with 43.8% living in urban areas. According to UNDESA forecasts, the population of central Asia rise to 82 million by 2050, with 55.2% living in urban areas.
Electric Insulator Market, Dielectric Material Type:
- Ceramic/Porcelain
- Glass
- Composite/Polymer
Electric Insulator Market, By End User:
- Residential
- Commercial
- Industrial Sector/Utilities
Electric Insulator Market, By Region:
- North america
- Middle East & Africa
- Middle East & Africa Electric Insulator Market, By Dielectric Material Type
- Middle East & Africa Electric Insulator Market, By End User
- Middle East & Africa Electric Insulator Market, By Country
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Latin America Electric Insulator Market, By Dielectric Material Type
- Latin America Electric Insulator Market, By End User
- Latin America Electric Insulator Market, By Country
- Brazil
- Mexico
- Rest of Latin America
- Asia Pacific
- Asia Pacific Electric Insulator Market, By Dielectric Material Type
- Asia Pacific Electric Insulator Market, By End User
- Asia Pacific Electric Insulator Market, By Country
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Europe
- Europe Electric Insulator Market, By Dielectric Material Type
- Europe Electric Insulator Market, By End User
- Europe Electric Insulator Market, By Country
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- North America Electric Insulator Market, By Dielectric Material Type
- North America Electric Insulator Market, By End User
- North America Electric Insulator Market, By Country
- U.S.
- Canada
- Middle East & Africa
Global Electric Insulator Market Dielectric Competitive Landscape & Key Players
The key players operating the Electric Insulator market include ABB Ltd., Aditya Birla Nuvo Ltd, NGK Insulators Ltd, Siemens AG, General Electric Company, Bharat Heavy Electricals Limited, Lapp Insulators GmbH, and Hubbell Inc. The key player in the market is focusing on business expansion and agreement strategy. For instance, Swiss-Swedish automation firm ABB has done a framework contract, actually worth above $100m, for major ever grid expansion in Austria.
Global Electric Insulator Market Dielectric Company Profile
- ABB Ltd.
- NGK Insulators Ltd
- Aditya Birla Nuvo Ltd
- Siemens AG
- General Electric Company
- Bharat Heavy Electricals Limited
- Lapp Insulators GmbH
- Hubbell Inc
Global Electric Insulator Market Dielectric Highlights
FAQs
Electric Insulator market is segmented into basis of basis, Dielectric Material Type, End-User, and by a region.
Growth in smart grid infrastructure propels the growth for the target market.
By region, Asia-Pacific is expected to dominate the electric insulator market.
The Key players operating in the Electric Insulator market include ABB Ltd., Aditya Birla Nuvo Ltd, NGK Insulators Ltd, Siemens AG, General Electric Company, Bharat Heavy Electricals Limited, Lapp Insulators GmbH, and Hubbell Inc. The key player in the market is focusing on business expansion and agreement strategy.