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Utility Composite Insulators Market Trends

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

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Utility Composite Insulators Market Trends

The utility composite insulators industry is expected to grow due to rising electricity demand and the expansion of transmission and distribution grid networks. Favorable initiatives by the authorities to improve electrical infrastructure across regions prone to extreme climatic conditions, where conventional units are less reliable, will drive product deployment. Supportive measures by respective authorities for expanding transmission networks will further enhance the business landscape. Additionally, the increasing adoption of smart grids and investments in strengthening power grid infrastructure will contribute to electric insulators industry growth.

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.