The analyst has forecasted that the global Electric Insulator market will reach to market value of USD xxx billion by 2030, growing at a CAGR of xxx%. This growth can be attributed to the increased availability of renewable energy resources, increased investment in T&D and the renovation of existing global grid networks.
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However, increasing the quality of low grade products on the market can hamper market growth. Utilities are increasingly upgrading their existing infrastructure, with rapid grid integration of renewables and the distributed technology.
50% Increase in World Energy Usage by 2050, Led by Growth in Asia
The world’s energy consumption in the industrial sector is increasing by more than 30% between 2018 and 2050. By 2050, the global consumption of industrial energy reached approximately 315 BTU. The energy consumption of transport increases by almost 40% between 2018 and 2050. This increase is driven mainly by non-OECD countries, which consumed almost 80 percent more energy from 2018 to 2050. Energy in these countries grows considerably faster than in many OECD countries for both personal and freight movement. End-use consumption growth leads to 79 percent increase in electricity generation between 2018 and 2050. The use of electricity in the residential sector is growing as increasing population and living standards in non-OECD countries are increasing demand for equipment. The use of electricity also increases in the transport sector as electric plug-in vehicles enter the floor and electricity for railway applications expands. These factors leads to increasing network of electric transmission and distribution, which in turn is increasing demand for electric insulators.
Government Encouraging the Development of a Sustainable Electricity Grid
The electrical transmission and distribution system together with an integrated and optimized power technology includes power generation, distribution and storage to allow customers to distribute power effectively. Due to the increased requirements for efficient and reliable electricity supply, expansion of the T&D network has increased considerably over the years. It is also complemented by increased government investment and favourable regulations, thus encouraging the development of a sustainable electricity grid, especially in the development countries of Asia and Africa. The growing concern regarding grid stability and supply protection meant that existing grid infrastructure in North America and Europe must be modernised. As a result, the smart grid and substation automation technologies have been rapidly implemented, and demand for advanced and efficient transmission and distribution infrastructure across regions has been growing.
Renewable Energy Adoption Among Consumers Has Increased
Renewable energy adoption among consumers has increased with enhanced developments in energy storage technologies. However, the use of solar panels and batteries is concentrated in small clusters due to their high installation costs and reliability in electricity generation. This led to a low penetration of renewable energy, leading to a high level of dependence on fossil fuels. But as carbon footprints and greenhouse gas emissions are increasingly concerned, combined with national goals for renewable integration, developing and developed economies have increased the use of clean energy to increase the efficiency of electricity generation.
Speedy growth in renewable energy resources used to generate power has also encouraged the development of infrastructure for transmission and substation. Because it can produce only under adequate conditions, and because it is not capable of generating large-scale power compared to traditional sources, renewable energy often can be unfavourable. The introduction of smart grid technology is necessary to control power demand across the entire distribution system to increase the penetration of renewable energy into the energy mix. The implementation of substation automation technologies will allow efficient monitoring and real-time renewable power supply with minimal chances of power outage for electricity consumers.
Power Transmission and Distribution Networks Requires Massive Investment
The development of power transmission and distribution networks requires massive government-based and private-sector investments. However, the lack of government assistance in combination with economic slowdown may affect industry growth. Depending on region size and need, the installation of power transmission and distribution systems will cost millions without a new power source being required. Moreover, to achieve the necessary flexibility in available electricity infrastructures, the power grid needs to incorporate several technologies and components. The absence of a viable business model followed by improper regulations and policies has created barriers to commercial and private investment, affecting the expansion of the transmission and distribution network.
Pool of Opportunities in the global market
Decentralizing Projects and Use of New Technologies
Distributed power systems that rely on solar energy and batteries can harden a grid and make it more resilient. Mini-grids and micro grids, because they do not rely on long-distance transmission wires, can provide useful backup generation in case of grid failure. Indeed, most electricity outages result from damage to transmission lines and transformers rather than generation facilities.
Opportunities to Enhance Climate Adaptation Practice
Adaptability and resilience is based on flexibility and novel approaches, not simply on stronger structures. Developing holistic approaches that combine climate adaptation and ecosystem services ensures the resilience of infrastructure and cities, while at the same time restoring valuable environmental parameters that are essential for supporting the existence of thriving societies. An example of how this could work is EU-CIRCLE: their innovative framework to support resilience across European Infrastructure is based on rising climate pressures, and presents findings in a unified manner within a holistic resilience model.
Smart Grid Projects Increased Investment
A smart grid is a sophisticated technology that allows smart devices to monitor standard operations remotely. These devices have two-way technologies of communication which allow the tool to interact with each device and control its operation in order to detect and remove defects. Increasing intelligent city projects globally offers technology firms, service providers, suppliers, and consulting firms an enormous opportunity. Smart cities provide more efficient, intelligent use of technology and proper use of resources to manage major services such as utilities, security, transportation and health. Smart cities will likely depend on intelligent grids for solid energy for key activities and functions. The urbanization rate in the APAC is highest, with smart city technologies being adopted both in developed and developing countries in the region. More investment in smart grid technologies and smart cities, including the automation of the distribution network, electrical equipment and demand response, could open up new opportunities for the electrical insulator market in countries such as Japan, South Korea, and Australia.
This global Electric Insulator market report can keep you informed and up to date with the developments in the market, across four different regions: North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
With reference to this report, it details the key investments trend in the global market, subdivided by regions, capital and operational expenditure and project type. Through extensive secondary research and interviews with industry experts, The analyst has identified a series of market trends that will impact the Electric Insulator market over the forecast timeframe.
The report will answer questions such as:
• How is the electric insulator market evolving?
• What is driving and restraining the electric insulator market?
• How will each electric insulator submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2030?
• How will the market shares for each electric insulator submarket develop from 2020 to 2030?
• What will be the main driver for the overall market from 2020 to 2030?
• Will leading electric insulator markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
• How will the market shares of the national markets change by 2030 and which geographical region will lead the market in 2030?
• Who are the leading players and what are their prospects over the forecast period?
• What are the electric transmission & distribution projects for these leading companies?
• How will the industry evolve during the period between 2020 and 2030?
Reasons Why You Must Order and Read This Report Today:
The report provides forecasts for the Global Electric Insulator market, by TYPE, for the period 2020-2030
• Ceramic Based Insulators Market 2020-2030
• Composite Based Insulators Market 2020-2030
• Glass Based Insulators Market 2020-2030
• Other Types Based Insulators Market 2020-2030
The report provides forecasts for the Global Electric Insulator market, by Voltage, for the period 2020-2030
• Low Voltage Insulators Market 2020-2030
• Medium Voltage Insulators Market 2020-2030
• High Voltage Insulators Market 2020-2030
• Other Voltage Insulators Market 2020-2030
The report provides forecasts for the Global Electric Insulator market, by Application, for the period 2020-2030
• Transformer Insulators Market 2020-2030
• Cables Insulators Market 2020-2030
• Switchgear Insulators Market 2020-2030
• Busbar Insulators Market 2020-2030
• Surge Protection Devices Insulators Market 2020-2030
• Other Applications Insulators Market 2020-2030
The report provides forecasts for the Global Electric Insulator market, by End-User, for the period 2020-2030
• Utilities Insulators Market 2020-2030
• Industrial Insulators Market 2020-2030
• Other End-User Insulators Market 2020-2030
The report provides forecasts for the Global Electric Insulator market, by Region, for the period 2020-2030
• North America Insulators Market 2020-2030
• Europe Insulators Market 2020-2030
• Asia-Pacific Insulators Market 2020-2030
• Middle East & Africa Insulators Market 2020-2030
• Latin America Insulators Market 2020-2030
Middle East & Africa electric insulator market was valued at US$xxx billion in 2019 and is anticipated to grow at a CAGR of xxx% from 2020-2030 to reach at market value of US$xxx billion by 2030. The market is anticipated to grow at a CAGR of xxx% in the first half of the forecast period while the second half of the forecast period is anticipated to grow at CAGR of xxx%. Overall Middle East & Africa Electric Insulator market is anticipated to grow at CAGR of xxx% from 2020 to 2030.
The report reveals global regulations and agreements affecting the Electric T&D Industry.
The report includes Leading Companies analysis in the Electric Insulator Market Companies
• Companies with T&D projects
• Expansion Contractors
The report provides detailed profiles of the leading companies operating within the Electric Insulator market:
• Bharat Heavy Electricals Limited
• General Electric Company
• K-Line Insulators Limited
• L&T Hydrocarbon Engineering
• Lapp Insulators
• NGK Insulators
• PPC Austria Holding GmbH
• Solar Turbines
• Southwire Company
• Subsea 7
• TE Connectivity
• Vericor Power
This independent 401-page report guarantees you will remain better informed than your competitors. With 287 tables and figures examining the Electric Insulator market space, the report gives you a direct, detailed breakdown of the market. PLUS, Capital expenditure and installed units by Type and by Region, as well as in-depth profiles of Companies that will keep your knowledge that one step ahead of your rivals.
This report is essential reading for you or anyone in the energy sector. Purchasing this report today will help you to recognise those important market opportunities and understand the possibilities there. I look forward to receiving your order.
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