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India electric insulator industry is anticipated to grow on account of rising electricity demand, development of existing grid infrastructure and paradigm shift toward the adoption of smart grid systems. Growing investment and expenditure across new power generation facilities and adoption of enhanced technological solutions across energy generation establishments will further complement the business outlook. Moreover, increasing electricity consumption across the industrial and commercial establishments, accelerating power generation capacities, and growing need for reliable power infrastructure will positively shape the business dynamics.
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.
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.
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.
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.