The composite insulators industry is anticipated to grow on account of rising electricity demand along with expansion of T&D grid networks. Initiatives by respective governments to improve electrical infrastructure, in areas prone to extreme climatic conditions further affecting the reliability of conventional units which will fuel the product demand. Moreover, growing deployment of smart grids flourishing investment toward strengthening the power grid infrastructure will augment the electric insulators industry landscape.
Authors:
Ankit Gupta, Divyendu Sharma
Frequently Asked Questions (FAQ) :
The market size of composite insulators was reached USD 2.4 billion in 2023 and is anticipated to observe a growth rate of over 6.9% through 2032, owing to the grid modernization efforts, coupled with the government initiatives aimed at replacing unreliable infrastructures to reduce power interruptions.
The utilities segment is set to witness a CAGR of over 6.5% through 2032, backed by the rising investments in high voltage transmission networks, driven by urban population growth, along with government support for energy-efficient infrastructures.
Asia Pacific composite insulators market is projected to hit USD 2 billion by 2032, backed by the growing population, increasing power generation capacity, and elevating demand for efficient & reliable electricity in several emerging nations across the region.
ABB, General Electric, Siemens Energy, LAPP Insulators GmbH, Seves, GIPRO GmbH, Bharat Heavy Electricals Limited (BHEL), Olectra Greentech Limited, TE Connectivity, Hitachi Energy Ltd., and PFISTERER Holding AG among others.
