Low Voltage Composite Insulators Market Size - By End Use (Residential, Commercial & Industrial), By Rating (≤ 11 kV, > 11 kV to ≤ 22 kV, > 22 kV to ≤ 33 kV, > 33 kV to ≤ 72.5 kV, >72.5 kV) & Forecast, 2024 - 2032

Low Voltage Composite Insulators Market Size

Low Voltage Composite Insulators Market size was valued at USD 587.8 million in 2023 and is set to grow at CAGR of 7.3% between 2024 and 2032. Rapidly increasing efforts to modernize the grid, coupled with favorable initiatives by authorities for replacement of unreliable electrical components to minimize power interruptions, will complement the industry growth. Supportive regulations, coupled with investments for the expansion of power networks, are positively influencing the industry outlook.
 

For instance, in April 2024, The European Investment Bank allotted a substantial EUR 805 million investment focused on clean energy initiatives, including enhancement of Germany's electricity distribution system. Furthermore, increasing demand for reliable insulator units and initiatives to upgrade existing electrical components for enhanced operations, will augment the business dynamics.

 

Low Voltage Composite Insulators Market Trends

The low voltage composite insulators industry is anticipated to grow on account of increasing electricity demand, coupled with the expansion of transmission and distribution grid networks. Accelerating investment toward improving the electrical infrastructure coupled with growing smart grids deployment will complement the industry outlook.
 

For instance, in August 2024, California received a USD 600 million grant from the U.S. Department of Energy, which will fund upgrades on 100 miles of transmission lines. The initiative aims to improve reliability and expedite the delivery of clean and affordable energy. Moreover, government initiatives aim to enhance the electrical infrastructure, especially in regions vulnerable to extreme climatic conditions, addressing the reliability challenges of conventional units, which is set to boost the product demand.
 

Low Voltage Composite Insulators Market Analysis

Commercial & industrial segment is anticipated to surpass over USD 770 million through 2032. Increasing electricity demand along with ongoing expansion of grid networks, have accelerated the need for a reliable transmission and distribution network further shaping the business dynamics. Rapidly expanding commercial and industrial establishments driven rapidly increasing urbanization along with rapidly increasing energy consumption have positively influenced the business dynamics.
 

Furthermore, government initiatives to deploy electrical networks across remote areas, coupled with the refurbishment and replacement of existing electrical components, to deliver a dependable electricity supply, augmenting the industry outlook.
 

> 11 kV to ≤ 22 kV segment is set to witness a CAGR of over 7% through 2032. The low voltage composite insulators market for these insulators is fueled by their diverse applications in the power and infrastructure sectors. Growing investments aimed at enhancing electrical distribution networks to deliver reliable power across commercial and residential establishments will positively influence the business landscape. Rapid deployment of micro-grid networks, which necessitate efficient and reliable insulation solutions, along with government support for energy-efficient infrastructures will significantly boost the industry growth.
 

The Asia Pacific low voltage composite insulators market is set to grow over USD 560 million by 2032. Rising population growth, urbanization, and growing demand for power across various sectors will complement the business landscape. Accelerating investments for expansion of electrical networks and deployment of renewable-integrated grid networks, will augment the business landscape.
 

For instance, In January 2024, State Grid Corp of China unveiled plans to invest over USD 69.6 billion this year. The investment aims to bolster the grid and transmission & distribution (T&D) network, ensuring stable power supply and promoting green energy consumption. Furthermore, stringent regulatory environment aimed at decreasing T&D losses, coupled with supportive policies from authorities to boost power generation capacity, is set to boost the Asia Pacific electric insulator industry landscape.
 

Low Voltage Composite Insulators Market Share

Major players operating in the low voltage composite insulators industry are focusing on introducing enhanced technological products, to expand their presence couple with pursuing strategic partnerships, collaborations, mergers and acquisitions to gain their competitive edge. Hitachi Energy Ltd., Siemens Energy, KUVAG GmbH & Co KG, DECCAN ENTERPRISES PRIVATE LIMITED, and Taporel Electrical Insulation Technology Co., Ltd. holds majority of the market share in the industry.
 

Low Voltage Composite Insulators Market Companies

Major manufacturers players operating across industry comprising of:

• CYG Insulator Co.,Ltd.
• Dalian Hivolt Power System Co.,Ltd.
• DECCAN ENTERPRISES PRIVATE LIMITED
• ENSTO
• Hitachi Energy Ltd.
• Jiangxi Johnson Electric Co. Ltd.
• KUVAG GmbH & Co KG
• Nooa electric co., ltd.
• PFISTERER Holding SE
• SAA Grid Technology Co., Ltd.
• SAVER S.p.A.
• SHEMAR
• Siemens Energy
• Taporel Electrical Insulation Technology Co., Ltd.
• Vexila (Pty) Ltd.
   

Low Voltage Composite Insulators Industry News

• In October 2023, Shemar announced to expand its operations an investment of USD 80 million into a project in Brazil, establishing a showroom for its offerings. These products encompass insulator solutions tailored for lines and substations, utilizing composite materials as a substitute for traditional glass and porcelain. The company assures a significant reduction in capital expenditure and a near-total elimination of operational expenditure for the projects.
   
• In August 2023, Modern Insulators Limited approved a proposal to set up a wholly owned subsidiary named Modern Composites Private Limited, dedicated to manufacturing composite insulators. Once incorporated, this subsidiary will be classified as a related party company. Any transactions with this related party will adhere to an arm's length basis. The acquisition was expected to be finalized by the second quarter of 2023-24. The entire share capital subscription would be made in cash, with the company planning to inject up to INR 50 million in equity share capital, potentially in multiple tranches.
   

The low voltage composite insulators market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2021 to 2032 for the following segments:

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Market, By End-Use

• Residential
• Commercial & Industrial

Market, By Rating

• ≤ 11 kV
• > 11 kV to ≤ 22 kV
• > 22 kV to ≤ 33 kV
• > 33 kV to ≤ 72.5 kV
• >72.5 kV

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Italy
  • Russia
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
• Latin America
  • Brazil
  • Argentina