Electrical Insulator Market Size, Share, Opportunities, And Trends By Type (Solid (Clay, Plastic, Mica, Teflon, Perfluoroalkoxy, Others), Liquid (Insulator Oil), Gas), By Size (Low Voltage Insulator, Medium Voltage Insulator, High Voltage Insulator), By Application (Automotive, Manufacturing, Consumer Electronics, Healthcare, Communication And Technology, Energy And Power, Others), And By Geography - Forecasts From 2023 To 2028
- Published : Mar 2023
- Report Code : KSI061611606
- Pages : 114
The electrical insulator market is expected to grow at a CAGR of 5.11% over the forecast period. The growth of this market is majorly attributed to the rapid growth of the energy and power industry in many regions across the globe. Governments across the globe are spending huge amounts on the energy and power sector to boost its growth and ensure proper availability of utilities at affordable prices to every individual. According to data from the International Energy Agency (IEA), total investments in the energy sector worldwide were around $1.8 trillion in 2017. Out of this total investment, spending by the governments in the electricity sector was nearly US$ 750 billion while that in oil and gas supply was around US$ 715 billion. Spending by governments on power transmission networks has been one of those sub-sectors which have been receiving a significantly large share of the total investments in the electricity sector. According to data from the Federal Energy Regulatory Commission (FERC) the spending on capital additions for utilities in the US was around $21 billion in 2016 out of which, the spending on transmission additions held a major share. According to the reports, total spending on the transmission of utilities included in the FERC data was nearly $35 billion, with spending in transmission infrastructure alone accounting for around 61% of the total spending. These investments into transmission infrastructure are driving with them the demand for electrical insulators worldwide, thus driving the growth of the market.
By type, the electrical insulator market has been segmented as solid, liquid, and gas-type insulators. Solid insulators are further segmented into clay, plastic, mica, Teflon, Perfluoroalkoxy (PFA), and others. Solid insulators hold a major share in this market on account of the widespread use of these insulators in a wide range of applications. Liquid and gas insulators also hold a significant share and their market is expected to show good growth over the projected period.
By application, the electrical insulator market has been segmented into automotive, manufacturing, consumer electronics, healthcare, communication and technology, energy and power, and others. Power and energy hold a major share in this market on account of increasing spending by the governments on energy transmission infrastructure. The manufacturing and automotive industry are expected to show good growth over the projected period on account of increasing investments in production capacity expansion by major industry players.
Geographically, the electrical insulator market has been segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. North America and Europe hold a significantly large share of this market on account of flourishing industries like automotive, manufacturing, and others in this region. The market in Asia Pacific is anticipated to show rapid growth over the forecast period. The growth will majorly be attributed to huge investments by governments into transmission infrastructure in order to ensure better availability of utilities to every individual.
Major industry players profiled as part of the report are DuPont, ELANTAS GmbH, ITW Formex, KREMPEL GmbH, 3M, Haysite Reinforced Plastics, Vitar Insulation Manufacturers Ltd, Mitsui Chemicals, Inc., ABB, BASF SE, American Micro Industries and Zhejiang Jinlihua Electric Co., Ltd.
The electrical insulator market is segmented by type, size, application, and geography.
• By Type
o Perfluoroalkoxy (PFA)
o Insulator Oil
• By Size
o Low Voltage Insulator
o Medium Voltage Insulator
o High Voltage Insulator
• By Application
o Consumer Electronics
o Communication and Technology
o Energy and Power
• By Geography
• North America
o United States
• South America
• Middle East and Africa
o Saudi Arabia
• Asia Pacific
Haysite Reinforced Plastics
Vitar Insulation Manufacturers Ltd
Mitsui Chemicals, Inc.
American Micro Industries
Zhejiang Jinlihua Electric Co., Ltd.
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