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North America Electric Insulators Market Size

Report ID: GMI11743
Published Date: Oct 2024
Report Format: PDF

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North America Electric Insulators Market Size

North America Electric Insulators Market was valued at USD 793.1 million in 2023 and is estimated to register more than 5.1% CAGR between 2024 and 2032. Increasing electricity demand, efforts to modernize the grid, and initiatives by authorities to develop reliable infrastructure and reduce power interruptions are driving industry growth.

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Favorable government policies and growing investments for the expansion of power networks are augmenting the industry landscape. For instance, in August 2024, the U.S. Department of Energy has initiated a significant grid enhancement program, investing USD 2.2 billion across 18 states, aiming to fortify the electrical infrastructure against climate-related challenges. Key objectives include upgrading over 100 miles transmission systems, integrating renewable energy sources and expand capacity.

North America Electric Insulators Market Report Attributes
Report Attribute	Details
Base Year:	2023
North America Electric Insulators Market Size in 2023:	USD 793.1 million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5.1%
2032 Value Projection:	USD 1.2 Billion
Historical Data for:	2021 - 2023
No. of Pages:	85
Tables, Charts & Figures:	15
Segments covered:	Material, Voltage, Application, Product, End-Use, Rating, Installation, and Country
Growth Drivers:	Rising investments for development of electric infrastructure Refurbishment of existing grid networks Ongoing adoption of smart grid along with initiatives toward clean power generation
Pitfalls & Challenges:	Fluctuating raw material cost

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Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The North America market for electric insulators was reached USD 793.1 million in 2023 and is set to register at a CAGR of 5.1% from 2024 to 2032, propelled by rising electricity demand, grid modernization efforts, and infrastructure development to reduce power interruptions.

The composite segment is expected to surpass USD 650 million by 2032, driven by the growing use of advanced insulator materials and the replacement of electrical components in transmission and distribution networks.

Electric insulators in cable transmission lines is expected to grow at a CAGR of over 4% through 2032, led by rising electricity demand, government support for grid expansion, and the need for high-capacity transmission lines.

The U.S. market for electric insulators is set to cross over USD 850 million by 2032, owing to increased power generation capacity and rising demand for reliable electricity.

Major key players operating in the industry include Gamma Insulator, Hitachi Energy, Hubbell, KUVAG, Lapp Insulators US, Maclean Power Systems, MAR-BAL, Meister International, Newell Porcelain, NGK Insulators, Peak Demand, PPC Austria Holding, Pfisterer Holding, Sediver, Siemens Energy, TE Connectivity, The Gund Company, and Victor Insulators.