Electric insulator: Key market research findings
- Emergence of HDVC transmission lines
- Rapid growth of the T&D sector
Technavio has released a new market research report on the global electric insulator market, which is expected to grow at a CAGR of more than 6% by 2020. The rising demand for power generation worldwide has paved way for new constructions and revamping of transmission networks. Electric insulators are used for power generation and in T&D equipment such as transformers, substations, and switchgear. Bushings are the most popular electric insulators, finding exclusive usage in the transformer and switchgear industry. APAC dominates the global electric insulator market, owing to developments in power generation, transmission, and distribution coupled with the growth in railway infrastructure in the emerging countries.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The emergence of high-voltage direct current (HDVC) transmission lines has prompted electric insulator vendors to direct their R&D expenditure to manufacture electric insulators for HVDC applications. The HVDC technology is stable and easily controllable, and can be inter-connected with AC power networks that are otherwise non-compatible. Growing penetration of HVDC systems in the power sector will boost the demand for electric insulators over the next few years,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research
The rapid growth of the T&D sector is the primary growth driver for this market. In T&D systems, the overhead conducting lines are supported by towers or poles that are grounded to the Earth. To avoid the flow of current from the conductor to the Earth through towers and poles, an electric insulator is placed between the tower or pole and the current-carrying conductor. The capability of electric insulators to aid in the establishment of T&D networks and the associated electrical systems will result in its augmented adoption during the estimated period.
The leading players in the global electric insulator market include ABB, Aditya Birla Nuvo, NGK Insulators, Siemens, and Toshiba. This market is characterized by the presence of intense competition among the top players. In developed countries, the competition is higher due to the presence of numerous global vendors. In emerging economies, such as China and India, the local players dominate this market. The local players have an advantage over global players in terms of product pricing and the availability of a strong supply chain and distribution systems.
A more detailed analysis is available in the Technavio report, Global Electric Insulator Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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