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The composite segment is anticipated to cross over USD 1.6 billion by 2034. Ongoing expansion of power generation facilities and grid modernization efforts have driven the demand for composite insulators, that can withstand high voltage requirements and deliver improved performance, contributing to the efficiency of modern electrical infrastructure. Regulatory bodies are focusing on expansion of T&D networks to strengthen the grid infrastructure along with ongoing research and development investments toward advancements in materials and design innovations, enhancing the performance capabilities will further accelerate the high voltage composite insulator deployment.
The cable & transmission lines segment is set to grow at a CAGR of over 5% through 2034. Growing inclination to ensure reliable operation and meet growing electricity demand along with authorities have implemented supportive policies and programs to encourage power generation capacity expansion, complementing the industry landscape. Government initiatives supporting power generation expansion coupled with paradigm shift towards development of high-capacity transmission lines and focuses on upgrading aging grid infrastructure will augment the industry outlook.
U.S. high voltage electric insulators market is likely to exceed USD 330 million by 2034. Increasing power generation capabilities, growing demand for reliable electricity supply efforts to develop advanced technologies and modernization of grid infrastructure aim to create a more resilient energy system will augment the industry outlook. Governments have implemented supportive policies along with flourishing investment by respective authorities to encourage the expansion of energy generation capacities will complement the industry landscape.