The global electric insulators market size is estimated to showcase a CAGR of 3.5% in the review period 2023 to 2033. It is projected to reach USD 6.5 billion by 2033.
A valuation of about USD 4.6 billion is expected from the electric insulators market in 2023. It will likely construct a certain profit potential worth USD 1.9 billion in the assessment period.
| Attributes | Key Insights |
|---|---|
| Electric Insulators Market Estimated Size (2023E) | USD 4.6 billion |
| Projected Electric Insulators Market Valuation (2033F) | USD 6.5 billion |
| Value-based Electric Insulators Market CAGR (2023 to 2033) | 3.5% |
Key Electric Insulators Market Highlights
Adoption of Nanotechnology in North America to Spur Demand
In North America, countries such as the United States and Canada are projected to push growth in the high-voltage glass insulator industry. Rising trend toward developing nanotechnology and advanced materials is anticipated to aid demand.
Key electric insulators market participants are expected to develop new insulating properties and materials such as glass, porcelain, and composite materials in North America. These would enable them to refine the performance and quality of their in-house insulators.
The emergence of nanotechnology in the region also allows for developing insulators equipped with nano-coatings. These coatings will likely improve their resistance to environmental elements such as moisture, UV radiation, and pollution. Such ongoing innovations are projected to help companies across North America make their products highly durable, primarily in harsh weather conditions.
Emergence of Smart Insulators and IoT to Push Sales in Asia Pacific
Increasing Internet of Things (IoT) technology integration in the electric insulators market across Asia Pacific might accelerate demand. Launching smart electric insulators in China, Japan, and India will likely create new opportunities for the ceramic insulator industry.
Smart insulators are expected to help evaluate the performance and condition of electrical infrastructure and power lines in real time with communication & sensor capabilities. These can also detect problems such as partial discharges, vibrations, or overheating.
The ability of smart electric insulators to transfer information for fault prevention and proactive maintenance to utility companies may also spur sales. Growing digitization in Asia Pacific is projected to drive demand as the need for electric grids to enhance sustainability, reliability, and efficiency is surging.
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The global electric insulators market grew at a decent CAGR of around 5.5% in the historical period from 2018 to 2022. It is projected to witness a CAGR of 3.5% from 2023 to 2033. The global market for electric insulators stood at a valuation of USD 4.4 billion in 2022.
| Electric Insulators Market Historical CAGR (2018 to 2022) | 5.5% |
|---|---|
| Electric Insulators Market Historical Value (2022) | USD 4.4 billion |
Electric insulators are anticipated to be utilized as coatings for electric poles. These help improve safety by separating external contact from live electrical components. Electrical insulation is projected to lower the risk of fire accidents and accidental electrocution, keeping structures and pedestrians safe.
According to the National Fire Protection Association (NFPA), 126 workers lost their lives in the United States in 2020 due to electrical exposure. Direct electrical exposure (56%) was the cause of about three out of five injuries.
Around 44 percent of those who died due to injuries they sustained had a job in construction or extraction. About 20 percent of those employed were in repair, maintenance, and installation jobs.
Increasing cases of power loss backed by electrical leakage are also expected to propel the electrical insulating varnish market. These insulators might be used in electric poles to help maintain the cohesion of power distribution systems. They can enhance energy efficiency and lower wastage by keeping the electricity flow in specific conductive pathways.
Pollution, moisture, and rain are environmental factors that can often damage electric poles. These can further result in the degradation and corrosion of electric poles. Electric insulators are projected to be used as a coating to lower maintenance costs and strengthen the lifespan of poles.
Implementing strict safety standards worldwide is anticipated to compel electrical authorities and municipalities to utilize insulating coatings on electric poles. These help to comply with the safety norms.
The table below provides the latest trends observed in the global electric insulators market, growth obstacles, and upcoming opportunities. Appropriate business strategies for the electric insulators market enable stakeholders to invest in the right area and gain profit.
| Attributes | Key Factors |
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| Latest Trends |
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| Upcoming Opportunities |
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Principal Consultant
The below table explains the electric insulator market demand from the top 5 countries. Regional forecast for the electric insulators market by country states that the United States is anticipated to remain at the forefront by topping a size of USD 1.3 billion by 2033.
China might reach USD 870.4 million in 2033. Japan is expected to follow the United States and China to create a moderate electric insulator demand worth USD 499.3 million.
| Countries | Market Value (2033) |
|---|---|
| United States | USD 1.3 billion |
| United Kingdom | USD 245.8 million |
| China | USD 870.4 million |
| Japan | USD 499.3 million |
| South Korea | USD 334.0 million |
In the below table of the growth potential of electric insulators market, CAGRs of the top 5 countries are provided. Out of the 5, China is likely to lead the electric insulators market by exhibiting a CAGR of 4.5% from 2023 to 2033. Followed by this, the United Kingdom and South Korea are expected to witness electric insulator sales at the same CAGR of 3.9%.
| Countries | Value-based CAGR (2023 to 2033) |
|---|---|
| United States | 3.5% |
| United Kingdom | 3.9% |
| China | 4.5% |
| Japan | 3.1% |
| South Korea | 3.9% |
The United States electric insulators market is anticipated to rise at a CAGR of 3.5% from 2023 to 2033. It is expected to top a valuation of USD 1.3 billion by 2033 in the electrical insulation materials market.
The electric insulators market in this country is set to be driven by rising demand for electricity in the United States. This is expected to propel the demand for smooth energy distribution and transmission.
Electric insulators are expected to be ideal solutions for ensuring safe electricity flow and preventing leakage currents in transformers. Increasing demand for transformers to step down or up voltage levels is projected to support growth.
Increasing focus of power companies in the United States on reliability and safety is anticipated to accelerate growth. They are striving persistently to enhance the operations of transformers by equipping electric insulators.
They are creating new insulators that resist pollution, humidity, and extreme temperatures. Growing need to lower the risk of electrical failures and provide an uninterrupted power supply is also expected to foster demand.
As per the United States Energy Information Administration (EIA), the energy used in the country in 2022 was around 4.05 trillion kWh. It was a record-high number, 14 times higher than the amount used in 1950. From 1950 to 2022, the total amount of energy consumed in the United States grew all but 11 times, and eight of those instances occurred after 2007.
The United Kingdom is anticipated to register a CAGR of 3.9% in the electric insulators market in the assessment period. It is expected to reach a valuation of USD 245.8 million by 2033.
Increasing demand for electric vehicles (EVs) in the United Kingdom is projected to accelerate the electric vehicle insulation market through 2033. Lithium-ion batteries with high capacities are considered crucial for the functioning of EVs as these help with power storage. These premium batteries often generate heat during discharging and charging.
The batteries might result in critical thermal problems. Hence, automakers are expected to use electric insulators to maintain the safety of battery packs, lower the risk of short circuits, and propel electrical isolation. With the ongoing expansion of the EV industry in the United Kingdom, electric insulator demand is anticipated to rise for thermal management.
According to the Government of the United Kingdom, the number of EVs has tripled in northern England. The government's push for more affordable and environmentally friendly transportation is set to create hundreds of thousands of green jobs nationwide.
The country has maintained its position as a global leader in the conversion to electric vehicles. It is projected to help drivers save money on gas and advance toward the country’s net zero goals.
China is projected to exhibit a CAGR of 4.5% in the forecast period between 2023 and 2033. It is expected to create a total financial potential worth USD 309.3 million by 2033 in the electric insulators market.
Electricity markets are a tool used internationally to preserve affordability and encourage decarbonization while ensuring the security of electricity. China has been making significant efforts toward the implementation of these markets.
The 2020 targets of a peak in carbon dioxide emissions by 2030 and a transition to carbon neutrality by 2060 have given China additional impetus to increase its footprint. In developing and implementing markets, the country has assumed a leadership position. The advice to develop a single national market system calls for greater coordination between provinces to better resource sharing.
As per a report published by the Energy Technology Network, China's installed non-fossil energy-producing capacity now exceeds 50% of the nation's total. To accomplish a target of reaching peak carbon emissions before 2030, it has recently invested enormous resources in the creation of renewable energy infrastructure. It has also started constructing new wind and solar plants and hydroelectric dams in the west of the nation.
Japan is estimated to register a CAGR of 3.1% in the forecast period in the electric insulators market. The country is projected to reach USD 499.3 million by 2033.
Increasing use of electric insulators in developing conference halls and buildings is expected to drive sales in Japan. These are set to offer a high level of acoustic comfort. Companies are set to create new products with sound-absorbing properties to provide occupants with a comfortable and quiet environment.
Privacy is a key factor in office buildings and conference halls during discussions and meetings. Advanced electric insulators can ensure that confidential data remains safe by preventing conversations from being overheard.
Offices in Japan are expected to look to create quiet workspaces to help boost the concentration and productivity of employees. Hence, they are projected to equip their spaces with electric insulators to lower sound propagation. These can offer a noise-less environment for employees, thereby accelerating productivity.
South Korea is set to expand at a CAGR of 3.9% in the estimated time frame. It registered a considerable CAGR of 8.1% in the historical period from 2018 to 2022 in the electric insulators market.
The electric insulators market in South Korea is projected to be fueled by their increasing use of wires and cables. These are set to find extensive use as coatings in wires and cables to offer electrical insulation.
They are anticipated to help lower the flow of electric current in wires and cables between conductive elements. They are set to help prevent short circuits and ensure the integrity of power transmissions or electrical signals.
Ability of electric insulators to minimize the risk of fire hazards and electrical shocks by improving the safety of electrical equipment is likely to aid demand. These are anticipated to develop new barriers to prevent live electrical components from human contact. This is expected to help protect equipment and people, pushing the electrical insulation tape market.
The table below highlights the global demand for electric insulators by segment. Under segments, the demand for ceramic electric insulators will likely remain high during the assessment period.
The ceramic segment, while smaller, is set to showcase a significant CAGR of 3.3% through 2033. It is expected to be followed by composites and glass segments.
| Category | Segment |
|---|---|
| Sub-category | Ceramic |
| Value-based CAGR (2023 to 2033) | 3.3% |
Based on segments, the ceramic category is expected to generate a considerable electric insulators market share through 2033. It is projected to witness a CAGR of 3.3% from 2023 to 2033. It expanded at a steady CAGR of 5.3% in the historical period.
Increasing investments by several countries in infrastructure development, such as expanding power distribution and transmission networks, might drive the segment. Growing need for such networks is anticipated to propel ceramic electric insulator demand as these are considered crucial components in electrical systems.
Ongoing shift toward renewable energy sources such as solar and wind power is anticipated to result in the development of novel power generation facilities globally. Demand for ceramic electric insulators might rise with their ability to promote electricity distribution and transmission in these facilities efficiently.
Ability of ceramic electric insulators to resist harsh climatic conditions and promote grid resilience is also expected to propel demand. Sales of premium-quality ceramic electric insulators are set to surge as they can ensure the smooth operation of power grids amid harsh weather conditions.
The table below highlights global demand for electric insulators by end-use. Under end-use, the demand for electric insulators will likely remain high in the utilities sector during the assessment period.
The utilities segment, while smaller, is set to showcase a significant CAGR of 3.1% through 2033. It is expected to be followed by industrial and other segments.
| Category | End-Use |
|---|---|
| Sub-category | Utilities |
| Value-based CAGR (2023 to 2033) | 3.1% |
In terms of end-users, the utility segment is anticipated to showcase a CAGR of 3.1% from 2023 to 2033. It recorded a CAGR of around 5.1% from 2018 to 2022.
Growing modernization of electric utilities to improve dependency and efficiency will likely propel electric insulator sales. These are primarily used to upgrade distribution networks, transmission lines, and substations.
Several companies in the utilities sector are expected to face the challenge of aging infrastructure that requires replacement, repair, or maintenance. Increasing use of electric insulators for maintaining the efficiency and safety of electrical equipment is likely to drive demand.
Ceramic electric insulators might find extensive use in the utility sector as these are considered environmentally friendly. These are highly durable and resistant to UV radiation, moisture, and pollution. Utility companies are anticipated to incline toward these insulators to maintain long-term reliability and lower maintenance costs.
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Leading electric insulator market players strive to cater to clients' wide range of needs by broadening their product offerings. They are designing novel types of electric insulators that would meet multiple applications, environmental conditions, and voltage levels. This type of diversification is expected to enable them to gain access to a wide client base.
Renowned electric insulator suppliers are striving to strengthen their geographic presence. To do so, they are developing new distribution networks and production facilities in niche areas amid the rising power demand. This strategy might enable them to lower transportation costs, improve customer service, and expand into new areas.
Reputed players in the electric insulators market are also focusing on developing unique products that are environmentally friendly with the growing need for sustainability. They produce novel electrical insulators that enhance energy efficiency and lower leakage currents. They are also focusing on embracing eco-friendly manufacturing processes to attract more clients.
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| Attribute | Details |
|---|---|
| Estimate Electric Insulators Market Size (2023) | USD 4.6 billion |
| Projected Electric Insulators Market Valuation (2033) | USD 6.5 billion |
| Value-based Electric Insulators Market CAGR (2023 to 2033) | 3.5% |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Value (USD billion) |
| Segments Covered in Electric Insulators Market Study | Segment, End-Use, Region |
| Regions Covered in Electric Insulators Market Report | North America; Latin America; East Asia; South Asia Pacific; Western Europe; Eastern Europe; Middle East & Africa |
| Key Countries Covered in Worldwide Electric Insulators Market | United States, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, Russia, GCC Countries, India, China, Japan and Australia |
| Electric Insulators Market Top Players | ABB Group; Bharat Heavy Electricals Ltd; KREMPEL GmbH; MacLean-Fogg Company; NGK Insulators Ltd |
| Electric Insulators Market Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
The global electric insulators market might top USD 6.5 billion by 2033.
Ceramic electric insulators are expected to witness a 3.5% CAGR from 2023 to 2033.
The electric insulators market is set to showcase high growth in the utilities sector.
ABB Group and Bharat Heavy Electricals Ltd are the leading manufacturers.
Expansion of power transmission networks is a key electric insulators market trend.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Segment 5.1. Ceramic 5.2. Composites 5.3. Glass 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-Use 6.1. Utilities 6.2. Industrial 6.3. Other End-Uses 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. ABB Group 17.2. Bharat Heavy Electricals Ltd. 17.3. KREMPEL GmbH 17.4. MacLean-Fogg Company 17.5. NGK Insulators Ltd. 17.6. PFISTERER Holding AG 17.7. Siemens Energy 17.8. Toshiba Corporation 17.9. WT Henley 17.10. Hubbell 18. Assumptions & Acronyms Used 19. Research Methodology
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Electric Insulators Market
