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India Electric Insulators Market Size
India Electric Insulators Market was valued at USD 423.6 million in 2023 and is projected to attain about 7% CAGR from 2024 to 2032. Growing measures to ensure safety and stability along with increasing expenditure for development of electric infrastructure across power grid will complement the industry growth.
Refurbishment of prevailing infrastructures and flourishing investments for expansion of transmission networks will augment the business landscape. Moreover, encouraging government policies toward development of electrical networks to boost power generation through renewables will favor the industry landscape.
How big is India electric insulators market?
The market size of India electric insulators was worth over USD 423.6 million in 2023 and is set to grow at a CAGR of over 7% during 2024 and 2032, owing to refurbishment of prevailing infrastructures and flourishing investments for expansion of transmission networks.
How will cables & transmission lines application contribute to India electric insulators industry size?
The cables and transmission lines application segment is projected to exhibit 5.5% CAGR over 2024 to 2032, backed by the escalating investments to develop new grid infrastructure, coupled with new initiatives to boost the rural electrification rate.
Why are composite electric insulators gaining traction in India?
India composite electric insulators market is projected to be worth over USD 300 million by 2032, on account of the increasing need to overcome transmission breakdown and mitigate environmental pollution.
Which companies define the competitive landscape of India electric insulator market?
Grasim Industries Limited, Modern Insulators Ltd, Adpro Pvt. Ltd., GR Enterprises, Siemens Energy, Insulators and Electricals Company, Incap Limited, S.C. Electric Company, Olectra Greentech Limited, and Spark insulators among others.