Asia Pacific Composite Insulators Market Size - By Voltage, By Application, By product, By End-Use, By Rating, By Installation, Analysis, Share, Growth Forecast, 2024 - 2032

Asia Pacific Composite Insulators Market Size

Asia Pacific Composite Insulators Market was valued at USD 1.2 billion in 2023 and is anticipated to expand at a CAGR of over 6.6% from 2024 to 2032. Efforts to modernize the grid and initiatives by authorities to develop unreliable infrastructure, and reducing power interruptions, are driving the industry growth.
 

Favorable initiatives, flourishing investments for expansion of power networks are complementing the industry landscape. For instance, in September 2024, India's National Electricity Plan outlines significant investments of around USD 111 billion in transmission infrastructure to meet growing energy demands. The plan aims to expand network capacity from 4.85 lakh ckm to 6.48 lakh ckm and increase transformation capacity to 2,342 GVA, supporting projected peak power requirements of 458 GW.
 

Asia Pacific Composite Insulators Market Trends

The Asia Pacific composite insulators industry is set to grow on account of increasing electricity demand and expansion of transmission and distribution (T&D) grid networks. Government initiatives to enhance electrical infrastructure in areas prone to extreme weather conditions, where conventional units may be less reliable, will augment the product deployment. Favorable initiatives by the authorities for expansion of transmission networks will complement the business landscape. Furthermore, increasing deployment of smart grids and investments in strengthening power grid infrastructure will augment industry landscape.
 

Asia Pacific Composite Insulators Market Analysis

Cables and transmission lines segment is predicted to hit USD 530 million by 2032. Rising demand for reliable transmission networks to meet increasing electricity needs, coupled with ongoing grid network expansion, is augmenting the business landscape. These units offer superior insulation compared to prevailing insulators, improve transmission line performance and prevent leakage currents, further augmenting product deployment across the application. Government initiatives promoting electrical network deployment in remote areas, along with the refurbishment and replacement of existing electrical components, are further driving industry growth.
 

The utilities segment is anticipated to witness more than 6% CAGR through 2032. Significant investments in high voltage transmission networks along with rising demand for electricity driven by rapid urbanization and rising population. Ongoing retrofitting of existing electricity networks and the rapid expansion of smart grid systems are positively influencing the industry outlook. Government support to develop energy infrastructure and frequency transmission links along with increased spending on electrical infrastructure to reduce outages will complement the business landscape. Ongoing efforts to enhance power infrastructure efficiency, coupled with large-scale renewable energy deployment, will further shape the Asia Pacific electric insulator business dynamics.
 

China composite insulators market is likely to exceed USD 690 million by 2032. Rising electricity demand, efforts to modernize and expand electrical networks and paradigm shift towards integration of renewable energy will complement the industry landscape. Ongoing adoption of smart grid coupled with favorable policies by authorities to enhance electricity infrastructure will positively influence the business dynamics. Furthermore, initiatives by utilities to modernize power transmission and distribution infrastructure, along with ongoing clean energy integration, are increasing demand for composite insulators, further propelling the industry growth.
 

Asia Pacific Composite Insulators Market Share

Major companies in the Asia Pacific composite insulator industry are focusing on introducing new technologies and products to strengthen their market position. They are also pursuing strategic agreements, collaborations, and partnerships along with mergers and acquisitions, to gain a competitive edge. Hitachi Energy, PFISTERER Holding, Siemens Energy, Aditya Birla, TE Connectivity and KUVAG hold the majority share across the electric insulator industry.
 

Asia Pacific Composite Insulators Market Companies

Major players operating across the industry include:

• Aditya Birla
• CYG
• Dalian
• Deccan
• Hitachi
• Jiangxi Johnson
• KUVAG
• Navitas
• Nanjing Electric
• Olectra
• PFISTERER
• Rayphen
• SAA Grid
• Siemens
• Suzhou
• Tanho
• Taporel
• TE Connectivity
   

Asia Pacific Composite Insulators Industry News

• In May 2024, a team of Australian engineers has made significant progress in enhancing the fire and electrical spark resistance of power-pole insulators. This development aims to mitigate the risk of pole-top fires and decrease the frequency of power outages. Researchers from Australian universities have collaborated to improve insulation materials for power poles, with their findings published in a respected international journal. The innovative approach could potentially be applied as a protective layer for existing ceramic and glass insulators, offering improved defense against various environmental challenges including moisture, pollution, and fire hazards.
   
• In November 2023, Zhongrui Electric exhibited its latest electrical equipment advancements at the Enlit Asia 2023, a key event in the energy industry, commences today, gathering professionals and innovators from the sector. The company invites attendees to visit their booth, where it displayed range of high-quality products, including composite insulators, wall bushings, arresters, and specialized electrical components. These products demonstrate the company’s superior design, durability, and performance in power transmission and distribution. Company representatives were able to provide technical specifications, discuss application scenarios, explained performance benefits, and explored customization options for specific requirements.
   

This Asia Pacific composite insulators market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2021 to 2032 for the following segments:

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Market, By Voltage

• High voltage
• Medium voltage
• Low voltage

Market, By Application

• Cables and transmission lines
• Switchgears
• Transformer
• Bus Bars
• Others

Market, By Product

• Pin Insulators
• Suspension insulators
• Shackle insulators
• Other insulators

Market, By End-Use

• Residential
• Commercial & Industrial
• Utilities

Market, By Rating

• ≤ 11 kV
• > 11 kV to ≤ 22 kV
• > 22 kV to ≤ 33 kV
• > 33 kV to ≤ 72.5 kV
• > 72.5 kV to ≤ 145 kV
• > 145 kV to ≤ 220 kV
• > 220 kV to ≤ 400 kV
• > 400 kV to ≤ 800 kV
• > 800 kV to ≤ 1,200 kV
• > 1,200 kV

Market, By Installation

• Distribution
• Transmission
• Substation
• Railways
• Others

The above information has been provided for the following countries:

• China
• Japan
• India
• South Korea
• Australia