The latest research on ‘Global Composite Insulators Market’ aims to provide deep-dive knowledge on various facets of this business sphere for the stipulated timeframe of 2022-2028.
Pune, India, July 05, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, that Global composite insulators market was worth USD 2 billion in 2021 and is anticipated to progress with a CAGR of 7.1% over 2022-2028 to reach a valuation of USD 3.22 billion by the year 2028.
Moving forward, the document also consists of insights about several market segments and key regions, along with growth rate and revenue contribution of sub-markets for the forecast period. At last, the report talks about prominent players of the industry, and emphasize on information about their product/service offerings as well as various measures to strengthen their foothold in the business sphere.
The industry is primarily driven by growing focus on grid network expansion, cognizance about the benefits of composite insulators, and large expenditures by regulatory authorities in the construction of efficient electric infrastructure.
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Moreover, escalating investments in refurbishing old grid networks throughout industrialized countries, as well as increasing usage of smart grid technology are expected to augment industry trends in the coming years.
On the contrary, scarcity of experienced labor, technicians, and standard protocols may stifle the market growth over the analysis period of 2022-2028.
Market segment overview:
Based on product terrain, the market is branched into shackle, suspension, pin, and others. In terms of voltage, the industry is divided into medium voltage, high voltage, and low voltage. On the basis of application ambit, global composite insulators marketplace is classified into busbars, transformers, switchgear, transmission line, and others.
Speaking of installation type, the industry is categorized into railways, substation, transmission & distribution, and others. Among these, transmission & distribution segment is predicted to grow significantly over the analysis timeframe, owing to increasing demand for energy as a result of the growing population around the world. Furthermore, the railways segment is poised to expand at a rapid pace in the coming years, as composite insulators are widely utilized in rail transportation network.
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As per the report, Asia Pacific industry is slated to garner lucrative returns by 2028, due to high product demand as a result of favorable government policies and plans for urbanization, and growth in countries such as India, China, Japan, the Philippines, Indonesia, Thailand, and South Korea.
Whereas United States market is predicted to rise steadily in the coming years, as a result of government measures to ensure a future of sustainable energy, as well as rising infrastructural spending.
TE Connectivity, GIPRO GmbH, Olectra Greentech Ltd., Deccan Enterprises Limited, Saravana Global Energy Limited, Spark Insulators Private Limited, Inael Electrical Systems S.A., ABB Group, Bharat Heavy Electricals Limited (BHEL), Siemens Energy AG, and General Electric Company are the leading players in global composite insulators market.
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Global Composite Insulators Market, by Product (Revenue, USD Billion, 2018-2028)
Global Composite Insulators Market, by Voltage (Revenue, USD Billion, 2018-2028)
Global Composite Insulators Market, by Application (Revenue, USD Billion, 2018-2028)
Global Composite Insulators Market, by Installation (Revenue, USD Billion, 2018-2028)
Transmission & Distribution
Global Composite Insulators Market, Geographical Fragmentation (Revenue, USD Billion, 2018-2028)
Rest of Europe
Rest of Asia Pacific
Rest of the World
Global Composite Insulators Market, Company Profiles (Revenue, USD Billion, 2018-2028)
Olectra Greentech Ltd.
Deccan Enterprises Limited
Saravana Global Energy Limited
Spark Insulators Private Limited
Inael Electrical Systems S.A.
Bharat Heavy Electricals Limited (BHEL)
Siemens Energy AG
General Electric Company
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Billion)
1.2.1. Composite Insulators Market, by Region, 2020-2028 (USD Billion)
1.2.2. Composite Insulators Market, by Voltage, 2020-2028 (USD Billion)
1.2.3. Composite Insulators Market, by Product, 2020-2028 (USD Billion)
1.2.4. Composite Insulators Market, by Installation, 2020-2028 (USD Billion)
1.2.5. Composite Insulators Market, by Application, 2020-2028 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Composite Insulators Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Composite Insulators Market Dynamics
3.1. Composite Insulators Market Impact Analysis (2020-2028)
3.1.1. Market Drivers
18.104.22.168. Expansion of power transmission and distribution sector
22.214.171.124. The rising implementation of smart grid technologies
3.1.2. Market Challenges
126.96.36.199. When exposed to the atmosphere, the efficiency of the device is reduced due to chemical changes
3.1.3. Market Opportunities
188.8.131.52. Significant investment in updating electrical infrastructure
Chapter 4. Global Composite Insulators Market Industry Analysis
4.1. Porter's 5 Force Model
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 market scenario
Chapter 6. Global Composite Insulators Market, by Voltage
6.1. Market Snapshot
6.2. Global Composite Insulators Market by Voltage, Performance - Potential Analysis
6.3. Global Composite Insulators Market Estimates & Forecasts by Voltage, 2018-2028 (USD Billion)
6.4. Composite Insulators Market, Sub Segment Analysis
6.4.1. High Voltage
6.4.2. Medium Voltage
6.4.3. Low Voltage
Chapter 7. Global Composite Insulators Market, by Product
7.1. Market Snapshot
7.2. Global Composite Insulators Market by Product, Performance - Potential Analysis
7.3. Global Composite Insulators Market Estimates & Forecasts by Product, 2018-2028 (USD Billion)
7.4. Composite Insulators Market, Sub Segment Analysis
Chapter 8. Global Composite Insulators Market, by Installation
8.1. Market Snapshot
8.2. Global Composite Insulators Market by Installation, Performance - Potential Analysis
8.3. Global Composite Insulators Market Estimates & Forecasts by Installation, 2018-2028 (USD Billion)
8.4. Composite Insulators Market, Sub Segment Analysis
8.4.1. Transmission and Distribution
Chapter 9. Global Composite Insulators Market, by Application
9.1. Market Snapshot
9.2. Global Composite Insulators Market by Application, Performance - Potential Analysis
9.3. Global Composite Insulators Market Estimates & Forecasts by Application, 2018-2028 (USD Billion)
9.4. Composite Insulators Market, Sub Segment Analysis
9.4.1. Transmission Line
Chapter 10. Global Composite Insulators Market, Regional Analysis
Composite Insulators Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2028
Global Composite insulators market is earmarked to observe significant impetus by 2028, driven by the rising need for, and hefty investments towards refurbishment of grid networks. Additionally, growing adoption of smart grid technology is also slated to foster industry outlook. According to International Energy Agency, it was reported that the electricity grid investments were anticipated to surpass USD 290 billion in 2021. The level of grid investment in the Net Zero Emissions by 2050 Scenario are estimated to triple by 2030, especially for smart grids, which would account for nearly 40% of the total investments in this decade. Geographically, the industry is classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Out of these regions, the Middle East and Africa composite insulators market would grow at a rate of 8% over the forecast period.
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