Research Nester released a report titled “Composite Insulators Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers the detailed overview of the composite insulators market in terms of market segmentation by type, application and region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The composite insulators market is anticipated to expand at a CAGR of around 9% over the forecast period i.e. 2019-2027. The growth of the market is driven by rise in infrastructure spending on account of modernization of power grids and expansion of power distribution network in order to increase the power generation capacity. Additionally, precise framework towards power conservation is likely to favor the adoption of composite insulators which is further anticipates to contribute towards the considerable growth of the market in upcoming years. On the basis of type, composite insulators market is segmented into braced line post, horizontal vee, insulated cross-arm, line post, pivoting braced post and suspension, out of which, suspension composite insulators are anticipated to hold the major share on account of the increased utilities in numerous areas and their ability to provide high efficiency. On the basis of application, it is segmented into low voltage line and high voltage line, out of which, high voltage line is estimated to grow at the highest rate on the back of increase in investments in high voltage transmission lines around the globe.
By region, the composite insulators market in North America is anticipated to hold the largest market share over the forecast period on the back of rising government investments for the modernization of grids. The composite insulators market in Europe is further estimated to grow on account of rapid urbanization in the region. Furthermore, the market in Asia Pacific is anticipated to grow at highest rate on the back of rising demand of power and increase in power generation capacity of the emerging economies.
Growing Investment in Power Infrastructure to Support the Market Growth
Rise in investments for development of effective grid infrastructure on the back of power distribution reforms has paved way for large scale adoption of composite insulators owing to their diverse applications in commercial, residential and industrial areas. These factors are anticipated to considerably support the growth of the market over the forecast period.
However, the challenges faced by the market at in various regions including decrease in efficiency of the composite insulators when exposed to humid weather conditions are anticipated to hinder the adoption of composite insulators.
This report also provides the existing competitive scenario of some of the key players of the composite insulators market which includes company profiling of key companies such as ABB (SWX: ABBN), Bonomi Eugenio SpA, Deccan Enterprises Limited, General Electric (NYSE: GE), Inael Electrical Systems, Olectra Greentech Limited.( NSE: OLECTRA), PFISTERER Holding AG, SAVER S.p.A., Siemens (ETR: SIE) and Seves. The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the composite insulators market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.