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Asia Pacific Composite Insulators Market Size

Report ID: GMI11624
Published Date: Sep 2024
Report Format: PDF

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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.

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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 Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific Composite Insulators Market Size in 2023:	USD 1.2 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.6%
2032 Value Projection:	USD 2.1 Billion
Historical Data for:	2021 - 2023
No. of Pages:	90
Tables, Charts & Figures:	14
Segments covered:	Voltage, Application, Product, End-Use, Rating, Installation and Country
Growth Drivers:	Increasing investment for power generation and development of electric infrastructure Ongoing expansion and refurbishment of existing grid networks along with ongoing renewable integration
Pitfalls & Challenges:	Fluctuating raw material cost

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Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The Asia Pacific market composite insulators will cross USD 2.1 billion by 2032 and is projected to expand at a CAGR of over 6.6% from 2024 to 2032, driven by favorable government initiatives and substantial investments aimed at expanding power networks.

The cable and transmission lines segment is expected to reach USD 530 million by 2032, as government initiatives promoting electrical network deployment in remote areas and the refurbishment and replacement of existing electrical components.

The utilities segment is slated to witness a CAGR of over 6% through 2032, attributed to significant investments in high-voltage transmission networks.

The China composite insulators market is likely to exceed USD 690 million by 2032, driven by the adoption of smart grids and favorable policies by authorities to enhance electricity infrastructure.

Aditya Birla, CYG, Dalian, Deccan, Hitachi, Jiangxi Johnson, KUVAG, Navitas, Nanjing Electric, Olectra, PFISTERER, Rayphen, SAA Grid, Siemens, Suzhou, Tanho, Taporel, and TE Connectivity are some of the major key players operating in the Asia Pacific composite insulators industry.