Electric Insulator Market to 2023 – Growing Steady at 5.58% CAGR and Projected to Reach US$ 13.34 Billion
Electric Insulator Market Research Report forecast and Analysis outlook 2018-2023 key product and their regional market and application with major players.
Pune, India – March 31, 2019 /MarketersMedia/ —
Reportsnreports always aims at offering their clients an in-depth analysis and the best research material of the various market. This new report on the global Electric Insulator Market is committed fulfilling the requirements of the clients by giving them thorough insights into the market. An exclusive data offered in this report is collected by research and industry experts team. Electric Insulator Market spread across 152 pages, profiling 12 companies and supported with tables and figures is now available in this Research report.
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The Electric Insulator Market is projected to reach US$ 13.34 Billion by 2023, from an estimated US$ 10.17 Billion in 2018, at a CAGR of 5.58%. This growth can be attributed to the growing adoption of renewable energy sources, increasing investments in T&D net works, and refurbishment of existing grid networks across the globe.
The composite segment is estimated to be the fastest growing segment the forecast period. Composite insulators consist of silicone rubber housing and sheds, fiberglass core rod and metal end fittings. Composite insulators have certain advantages such as lightweight, improved transmission line aesthetics, less gunshot damage, high shock resistance, and ease of installation.
“Transformer: The fastest growing market for electric insulators”
The transformer segment, by application, is estimated to be the fastest growing during the forecast period. Increasing installation of various transformer types for meeting the rising electricity requirements has led to the largest share of the transformer segment in the total electric insulator market.
“Asia Pacific: The fastest growing market for electric insulators”
Asia Pacific is estimated to be the fastest growing market for electric insulators by 2023 and is projected to grow at the highest CAGR during the forecast period. Increase in population, urbanization, and growth of the industrial sector have increased the demand for power in China and India. The governments of Asia Pacific countries are planning to develop more electrical grid and power generation capacity, which would further boost the demand for insulators in the region.
The distribution of primary interviews is as follows:
• By Company Type: Tier 1- 60%, Tier 2- 23%, and Tier 3- 17%
• By Designation: C-Level- 35%, Managers- 25%, and Others- 40%
• By Region: North America-18%, Europe-22%, Asia Pacific- 29%, Middle East- 18%, Africa- 8%, and South America-5%
Report Highlights:
• To forecast the growth of the electric insulator market with respect to the major regions (Asia Pacific, Europe, North America, South America, Middle East, and Africa)
• To strategically analyze the electric insulator industry with respect to individual growth trends, future expansions, and contributions to the market
• To provide detailed information about major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
• To analyze competitive developments such as new product development, mergers & acquisitions, expansions & investments, and contracts & agreements, in the electric insulator industry
• To strategically profile key players and comprehensively analyze their market rankings and core competencies
Top Key Players in the Electric Insulator Market include are ABB (Switzerland), GE (US), Siemens (Germany), Toshiba (Japan), Aditya Birla (India).
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Target Audience for Electric Insulator Market:
• Component manufacturers and suppliers
• Electric utilities
• Consulting companies in the power sector
• Electrical insulators manufacturing companies
• State and national regulatory authorities
• Government and power research organizations
• Renewable energy companies
• Power grid infrastructure companies
• Power plant project developers
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Source: MarketersMedia
Release ID: 497073
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