Electric Insulator Industry - Regional Synopsis
On the basis of geographical analysis, the global electric insulator market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Asia Pacific industry is expected to hold largest revenue share by 2037, owing to rapidly growing population and urbanization, and increasing demand for power in the region. As per the World Bank, the total urban population of East Asia and Pacific as a percentage of the region’s total population was 60.695 percent in 2020, up from 59.887 percent and 59.052 percent in 2019 and 2018 respectively.
growing number of electric vehicle charging stations, especially in China and Japan, is also expected to boost the market growth of the region in the upcoming years. Moreover, the market in North America is projected to acquire the largest share during the forecast period ascribing to the high in-flow of investments in the power generation sector, and strong presence of prominent market players in the region.
