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High Voltage Composite Insulators Market Analysis

Report ID: GMI8313
Published Date: Feb 2024
Report Format: PDF

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High Voltage Composite Insulators Market Analysis

High Voltage Composite Insulators Market Size, By Application (USD Million), 2022 - 2032

Cables & transmission lines application dominated over 30% market share in 2023 and have gained substantial traction on account of their role in ensuring reliable operations, catering to the rising electricity demand, and maintaining power grid integrity. HV composite insulators have exceptional insulation capabilities effectively to prevent leakage current, thereby boosting overall transmission lines performance. Additionally, their operational benefits, including improved insulation, environmental resistance, lighter weight, reduced flashover risk, and enhanced durability, significantly increase the product demand.

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The > 220 kV to ≤ 400 kV segment is projected to witness around 7% CAGR between 2024 and 2032 on account of rising investments for expansion of high voltage transmission networks driven by rapidly growing urban population. Government regulations supporting energy-efficient infrastructures and the push for extensive frequency transmission links further boost the industry outlook. Public & private utilities widely deploy these units to enhance the efficiency and resilience of their power infrastructure as these insulators offer improved insulation properties, reduced flashover risk, resistance to environmental factors, and enhanced durability. Rising spending on grid infrastructure to meet increasing electricity demand is set to drive the product adoption.

Asia Pacific High Voltage Composite Insulators Market Size, (USD Million), 2022 - 2032

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Asia Pacific high voltage composite insulators market is set to reach USD 700 million by 2032, attributed to the population expansion, rising power generation capacity, and increased demand for efficient & reliable electricity across emerging nations. Respective governments implemented favorable policies to promote increased power generation capacities, and rapid development of the transmission and smart grid networks will further drive industry outlook. Moreover, substantial investments for the development of HV networks and expansion of energy grid systems in remote areas, positively shaping the high voltage electric insulators industry landscape.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market valuation of the high voltage composite insulators was reached USD 846 million in 2023 and is expected to register over 6.9% CAGR from 2024 to 2032, owing to ongoing efforts for grid modernization and government initiatives to replace unreliable infrastructures worldwide.

The cables & transmission lines segment held over 30% share of the high voltage composite insulators industry in 2023 and is expected to register an appreciable CAGR from 2024 to 2032, due to their role in ensuring reliable operations and maintaining power grid integrity.

Asia Pacific market for high voltage composite insulators is expected to cross USD 700 million by 2032, due to population expansion, rising power generation capacity, and increased demand for efficient & reliable electricity across emerging nations in the region.

Hitachi Energy Ltd., KUVAG GmbH & Co KG, Maschinenfabrik Reinhausen GmbH, Nanjing Electric Technology Group Co., Ltd., Navitas Insulators Pvt Ltd, and PFISTERER Holding SE, are some of the major high voltage composite insulators companies worldwide.