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Utility Composite Insulators Market Size

Report ID: GMI12152
Published Date: Nov 2024
Report Format: PDF

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Utility Composite Insulators Market Size

The global utility composite insulators market was valued at USD 1.8 billion in 2024 and is estimated to grow at a CAGR of 6.5% from 2025 to 2034. Efforts to modernize the grid, and favorable initiatives by authorities to replace unreliable electrical components, aiming to reduce power interruptions will complement the industry landscape. Additionally, increasing demand for reliable insulator units and initiatives to upgrade electrical components will positively influence the business dynamics.

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Supportive regulations and flourishing investments aimed at expanding power networks will further augment the industry outlook. For instance, in September 2024, the leading utility companies have pledged to invest over USD 116 billion annually in clean grid and power generation infrastructure globally. The Utilities for Net Zero Alliance (UNEZA), introduced at COP28 with guidance from IRENA and the UN Climate Change High-level Champions, aims to accelerate electrification and power system transformation as the world advances in its decarbonization efforts.

Utility Composite Insulators Market Report Attributes
Report Attribute	Details
Base Year:	2024
Utility Composite Insulators Market Size in 2024:	USD 1.8 Billion
Forecast Period:	2025 – 2034
Forecast Period 2025 – 2034 CAGR:	6.5%
2025 – 2034 Value Projection:	USD 3.4 Billion
Historical Data for:	2021 – 2023
No. of Pages:	95
Tables, Charts & Figures:	28
Segments covered:	Voltage, Rating and Region
Growth Drivers:	Increasing investment for development of electric infrastructure Ongoing expansion and refurbishment of existing grid networks Growing adoption of smart grid networks and integration of renewables
Pitfalls & Challenges:	Fluctuating raw material cost

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Authors: Ankit Gupta , Divyendu Sharma

Frequently Asked Questions (FAQ) :

The global market for utility composite insulators was reached USD 1.8 billion in 2024 and is estimated to grow at a 6.5% CAGR from 2025 to 2034, driven by efforts to modernize the grid and replace unreliable electrical components.

The medium voltage segment is anticipated to exceed USD 1.5 billion by 2034, due to its extensive use in grid infrastructures and the expansion of cross-border electrical networks.

The > 11 kV to =< 22 kV segment is expected to grow at a CAGR of over 6% through 2034, supported by investments in distribution networks and increasing electricity demand.

The U.S. utility composite insulators market is projected to reach USD 350 million by 2034, led by renewable energy integration, increasing industrial energy demand, and grid modernization efforts.

Key players in the industry include Bonomi Eugenio, Changan Group, CYG Insulator, Deccan Enterprises, Hitachi Energy, Izoelektro, KUVAG, Maschinenfabrik Reinhausen, Nanjing Electric Technology Group, Navitas Insulators, PFISTERER Holding, Rayphen, SAA Grid Technology, SAVER, Siemens Energy, Victor Insulators, Vexila, and Zhongrui Electric.