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China Electric Insulators Market size to grow at 5% CAGR by 2024

Author : Rahul Sankrityayan | Published Date : 2019-08-22 

Electric Insulators Market report research highlights key dynamics of the global sector. The potential of the industry has been investigated along with the key challenges. The current market scenario and prospects of the sector has also been studied.

China electric insulator market is anticipated to gain over 5% by 2024. Extensive government initiatives for the grid renovation projects along with increasing funding across the industrial & utility-based electrification systems will enhance the business landscape. Rising focus toward the development of energy-efficient equipment coupled with shifting trends for the extension of overhead electric cables will stimulate product penetration in the industry.

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Electric Insulators Market is estimated to reach over USD 6 billion by 2024. Growing investments toward upgradation of existing infrastructure and smart grids will amplify the electric insulators market. Growing private & public spending to avail continuous power supply will further augment the industry outlook. The Asian Development Bank in 2017, announced upgradation of electrical infrastructure with funding of USD 6.5 million in Southeast Asia.

UK electric insulator market is projected to grow on account of stringent energy-efficiency protocols along with rising focus toward increasing power generation capacity. Channelized funding by regulators for the efficient generation and distribution of electricity will complement the business growth.

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Porcelain electric insulators market will grow owing to industry dominance and technical maturity. Minimum corrosion & leakage along with the capability to operate in extreme environment and temperature changes are the key parameters driving the product penetration.

Rising installation of electric networks across industrial and commercial establishments favored by growing demand for electricity will foster the electric insulator market. In addition, government programs toward the upgradation of power grid, including smart grid development and grid energy storage will enhance the industry growth.

Growing demand for reliable and safe power along with rural electrification initiatives across the emerging markets will stimulate the growth of electric insulators market. Continuous research and development investment coupled with the adoption of economy of scale by product manufacturers will favor the business landscape.

Medium voltage electric insulators market is estimated to witness substantial growth on account of their wide application in commercial and residential establishments. Increasing commercialization coupled with power distribution reforms toward development & expansion of distribution networks will further favor the business outlook.

Railways electric insulator market is predicted to expand on account of growing demand for reliable transport infrastructure network. Massive funding by the government for the extension of grid networks for developing optimized and efficient electric infrastructure will positively influence the industry outlook. Light weight, high-strength and vandal-resistance are the key product developments to ensure the uninterrupted railway signals which will further stimulate the business growth.

145 kV electric insulator market will expand owing to growing demand across the primary & secondary transmission networks. Operational safety and potential to withstand mechanical load are few key features supporting product penetration.

Notable players across the electric insulators market includes Siemens, ABB, Elsewedy Electric, Maclean Fogg, Seves Group, TE Connectivity, NGK Insulators and Lapp Insulators.

 

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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