Electrical Insulator Market - Forecasts from 2018 to 2023

The electrical insulator market is expected to grow at a CAGR of 5.11% over the forecast period of 2017-2023. The growth of this market is majorly attributed to rapid growth of energy and power industry in many regions across the globe. Governments across the globe are spending huge amounts into energy and power sector to boost its growth and ensure proper availability of utilities at affordable prices to every individual. According to a data from the International Energy Agency (IEA), total investments in energy sector worldwide were around $1.8 trillion in 2017. Out of this total investment, spending by the governments in electricity sector was nearly US$ 750 billion while that in oil and gas supply was around US$ 715 billion. Spending by governments into power transmission network has been one of those sub-sectors which have been receiving a significantly large share of the total investments in electricity sector. According to a data from the Federal Energy Regulatory Commission (FERC) the spending on capital additions for utilities in the US was around $21 billion in 2016 out of which, the spending into transmission additions held a major share. According to the reports, total spending into transmission of utilities included in the FERC data was nearly $35 billion, with spending in transmission infrastructure alone accounting for around 61% of the total spending. These investments into transmission infrastructure are driving with them the demand for electrical insulators worldwide, thus driving the growth of the market.

By type, the electrical insulator market has been segmented as solid, liquid and gas type insulators. Solid insulators are further segmented into clay, plastic, mica, teflon, Perfluoroalkoxy (PFA) and others. Solid insulators hold a major share in this market on account of widespread use of these insulators in a wide range of applications. Liquid and gas insulators also hold a significant share and their market is expected to show a good growth over the projected period.

By application, the electrical insulator market has been segmented into automotive, manufacturing, consumer electronics, healthcare, communication and technology, energy and power, others. Power and energy holds a major share in this market on account of increasing spending by the governments into energy transmission infrastructure. Manufacturing and automotive industry are expected to show a good growth over the projected period on account of increasing investments into production capacity expansion by major industry players.

Geographically, the electrical insulator market has been segmented into North America, South America, Europe, Middle East and Africa, and Asia Pacific. North America and Europe hold a significantly large share in this market on account of flourishing industries like automotive, manufacturing and others in this region. The market in Asia Pacific is anticipated to show a rapid growth over the forecast period. The growth will majorly be attributed to huge investments by governments into transmission infrastructure in order to ensure better availability of utilities to every individual.

Major industry players profiled as part of the report are DuPont, ELANTAS GmbH, ITW Formex, KREMPEL GmbH, 3M, Haysite Reinforced Plastics, Vitar Insulation Manufacturers Ltd, Mitsui Chemicals, Inc., ABB, BASF SE, American Micro Industries and Zhejiang Jinlihua Electric Co., Ltd.

Segmentation

The electrical insulator market is segmented by type, size, application and geography.

By Type

Solid
Clay
Plastic
Mica
Teflon
Perfluoroalkoxy (PFA)
Others
Liquid
Insulator Oil
Gas

By Size

Low Voltage Insulator
Medium Voltage Insulator
High Voltage Insulator

By Application

Automotive
Manufacturing
Consumer Electronics
Healthcare
Communication and Technology
Energy and Power
Others

By Geography

North America

United States
Canada
Mexico
Others

South America

Brazil
Argentina
Others

Europe

UK
Germany
France
Italy
Others

Middle East and Africa

Saudi Arabia
UAE
Israel
Others

Asia Pacific

Japan
China
India
Australia
Others