The glass insulators market is expected to gross $504.6 million globally by 2031 at a CAGR of 3.9%, according to Allied Market Research

Increasing industrialization and urbanization and surging adoption of glass insulators in distribution and railways, HVDC, HVAC and other applications are driving the growth of the global insulator market glass.

PORTLAND, Oregon., August 25, 2022 /PRNewswire/ — Allied Market Research has released a report titled, “Glass Insulators Market By Type (Suspension Glass Insulators, Pin Glass Insulators), By Application (Distribution & Railway Applications, HVDC Applications, HVAC Applications): Global Opportunity Analysis and Industry Forecast, 2021 -2031.” According to the report, the world glass insulation industry generated $345.8 million in 2021, and should reach $504.6 million by 2031, displaying a CAGR of 3.9% from 2022 to 2031. The report provides a detailed analysis of the market drivers and opportunities, Covid-19 pandemic, key segments and major players.

Main determinants of growth

increasing industrialization and urbanization, increasing adoption of glass insulators in distribution and railways, HVDC, HVAC and other applications, and wide use in substations, transformers and off-grid infrastructure are driving the growth of the global glass insulators market. However, stringent regulations related to carbon dioxide emissions and soaring commodity prices are restraining the growth of the market. On the other hand, increasing R&D investment towards power grids with increasing electricity demand and increasing adoption of smart grid technologies present new opportunities in the coming years.

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Covid-19 scenario

  • Glass insulator production activities have been completely or partially stopped during the lockdown due to unavailability of sufficient manpower and supply chain disruptions worldwide. In addition, the shortage of raw materials has affected production processes.
  • The demand from various application sectors such as distribution and railways, smart grid and others has decreased significantly due to the shutdown of daily operations during the lockdown. However, demand picked up steadily after the lockdown.
  • There were obstacles to the development of network transmission facilities. These obstructions, in turn, have led to a decrease in the installation of glass insulators.
  • Due to the lockdown restrictions in place, people have been forced to stay at home. This, in turn, has increased the demand for HVAC systems. Consequently, the demand for glass insulators has increased despite production delays and supply chain disruptions. The demand will gradually increase after the pandemic.

The Suspension Glass Insulator Segment to Maintain Its Leading Position Over the Forecast Period

Based on type, suspension glass insulators segment accounted for the largest market share in 2021, contributing approximately three-fifths of the global glass insulators market, and is expected to maintain its leading position during the period. forecast. Moreover, this segment is estimated to manifest the largest CAGR of 4.3% from 2022 to 2031. This is due to increase in industrialization and urbanization and increase in electrical, distribution and railway, HVDC, HVAC and smart grid in which suspension glass insulator is widely used as electrical components and protection device. Moreover, it is widely used in cables, transformers, switchgears and busbars as an insulating component for its insulating property and high electrical resistance property. The report also analyzed the pinned glass insulators segment.

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HVAC applications segment will maintain its dominant share during the forecast period

Based on applications, the HVAC application segment contributed the largest market share in 2021, accounting for almost two-fifths of the global glass insulators market, and is expected to maintain its dominant share during the forecast period. Furthermore, this segment is estimated to exhibit the highest CAGR of 4.3% from 2022 to 2031. This is attributed to the growing demand for electricity for data centers which is increasing the large-scale use of insulators glass in power distribution units. Additionally, the need for flexible AC transmission equipment for railways, electric utilities, renewable energy sources, and oil and gas sectors is increasing the demand for glass insulators. The report also discusses segments including distribution and railway applications and HVDC applications.

Asia Pacific to maintain its highest contribution throughout the forecast period

Based on the region, Asia Pacific accounted for the largest market share in 2021, holding nearly two-fifths of the global glass insulators market, and is expected to maintain its highest contribution throughout the forecast period. This is due to the increase in urbanization, population and industrial sectors in countries such as China and India and the use of glass insulators in electrical cables, switchgear, transformers and protection devices. However, North America is expected to grow at the highest CAGR of 4.4% from 2022 to 2031, driven by increasing demand for glass insulators from industries, electric utilities, railways, water sources, renewable energy and oil and gas industries in the region. The research also analyzes regions including Europe and LAMEA.

Main market players

  • Global Insulation Group
  • Gamma Isolator (Corona Group)
  • Hubbell Inc.
  • Incap Limited
  • JSC UMEK
  • Maclean Power Systems
  • Nanjing Electric
  • Sichuan Yibin Global Group
  • Shandong Ruitai Glass Insulator Co.Ltd.
  • Seves Group
  • Victor Insulators
  • VERESCENCE La Granja Insulators
  • ZX Insulators
  • Zhejiang Tailun Insulator Co.Ltd.
  • Zhejiang Jinlihua Electric Co., Ltd.

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Allied Market Research (AMR) is a full-service market research and business advisory division of Allied Analytics LLP based in Portland, OR. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

Pawan KumarCEO of Allied Market Research, directs the organization towards the provision of high quality data and information. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.

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SOURCE Allied Market Research

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