Global industrial insulator market is anticipated to witness significant growth over the forecast period owing to the rapid expansion of transmission and distribution (T&D) networks. Industrial insulators are primarily made of three types of materials namely ceramic, composite, and glass insulators. Insulators are of numerous types including pin type, suspension, strain, shackle, bushing, station post, and cut-out insulators. Increasing energy demand is expected to increase the T&D line length which is expected to stimulate the demand for industrial insulators over the next seven years. Rising demand for composite insulators owing to their lightweight and good electrical and mechanical properties is expected to boost the demand in transmission lines. Moreover, insulators are used to control energy efficiency and it reduces the carbon footprint which is expected to fuel the market growth. However, increasing the use of efficient blowing agents is causing depletion of the ozone layer and environmental safety issues which are expected to restrain market growth over the forecast period. In addition, stringent government regulations and policies are also expected to restrict demand over the next seven years.
Industrial insulators find wide applications in transformers, cables & transmission lines, switchgear, surge protection devices, bus bar, tanks & vessels, chimneys & exhausts, fire protection, pipelines, boilers, process equipment, railways, automotive industries, solar collectors, petrochemical, pulp & paper, chemical, refining, gas processing, heavy manufacturing, heating, ventilating, & air conditioning (HVAC) and offshore sector. Growing demand for power is expected to increase the use of switchgear and cables & transmission lines which in turn is anticipated to surge the demand for industrial insulators over the forecast period. Moreover, rapid industrialization and urbanization are expected to surge the market growth owing to the use of insulators to supply electricity to various industries and households. Furthermore, advancement in technologies in various sectors including oil and gas which has ventured into deep and ultra-deep drilling at offshore locations is expected to accelerate demand over the next seven years. In addition, improvements in infrastructure and railway industries are expected to propel the market growth owing to the need for higher safety standards, improved efficiency, and fire protection. Rising demand for automobiles in China, India, U.S., and Mexico is driving manufacturers to invest more in industrial insulators which help in noise reduction, fire protection, and reduction in heat loss leading to improved efficiency and safety standards. Fluctuating fuel prices is expected to propel industrial consumers to improve their efficiency in operations which is predicted to impact the industrial insulators market growth significantly over the upcoming period.
North America is anticipated to grow significantly over the forecast period owing to rapid growth in the infrastructure, oil and gas, and automobile industries, particularly in the U.S. and Canada. The retrofit market is expected to contribute towards market growth mainly in the U.S. on account of the induction of new technology and safety practices in old infrastructure. Europe is expected to augment the demand for industrial insulators mainly in Italy, UK, France, Spain, and Germany on account of the growing automobile, industrial, and power sectors. Moreover, rising employment of the smart grid concept predominantly in Europe coupled with the growing use of renewable energy for electricity generation has increased the expansion of the T&D network. Asia Pacific has huge potential for market growth pertaining to industrialization and real estate boom, particularly in China, India, Malaysia, and Japan. Moreover, the high demand for energy owing to the rising population, increasing standards of living, and developing economies is anticipated to have a positive impact on market growth. Furthermore, growing need to conserve energy in this region coupled with increasing environmental safety requirements is expected to augment the demand over the next seven years. Global warming and changing climatic conditions all over the globe is expected to boost the industrial insulator market owing to their use to reduce energy losses.
Global key players in the industrial insulator market include ABB Ltd., Alstom, Toshiba Corporation, Aditya Birla Nuvo Ltd., Siemens AG, WS Industries Ltd., and Saint-Gobain. Advancements in technology by various companies to produce more efficient insulators that provide good electrical and mechanical properties are expected to spur market growth. Isover provides various products for HVAC, industry, marine, and OEM insulations.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Contact us now
ESOMAR & Great Work to Place Certified
ISO 9001:2015 & 27001:2022 Certified
"The quality of research they have done for us has been excellent."
The ongoing pandemic has led to a decline in exploration activities in the oil & gas sector. A number of EPC projects have also witnessed an indefinite pause that has transpired into a slump in the requirement for drilling and excavation services. Economic repercussions of the trend are expected to be highly evident in the Middle East. The report will account for Covid19 as a key market contributor.