According to the latest report by IMARC Group, titled "India Electric Insulator Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the India electric insulator market size reached US$ 379.8 Million in 2022. An electric insulator is a material comprising rubber, glass, plastic, and ceramic that exhibits low electrical conductivity and demonstrates high resistance when a source of electromotive force (EMF) is applied to them. It assists in concentrating the flow of electric current and preventing it from flowing wherein it is not required. It is used for coating wires and distributing electric networks and acts as dielectrics in capacitors. At present, the rising need for home appliances, such as televisions, refrigerators, mixers, freezers, dryers, microwaves, ovens, and washing machines, is catalyzing the demand for electric insulator in India.
India Electric Insulator Market Trends:
The increasing installation of heating, ventilation and air conditioning (HVAC) systems in residential, commercial, and industrial areas represents one of the major factors driving the demand for electric insulators in India. Moreover, the growing electricity consumption and power generation in the country are catalyzing the need for electric insulators to minimize the instances of power failures. In addition, rising environmental concerns and energy security among the masses are increasing the adoption of renewable energy sources, such as wind and solar power in India. Apart from this, electric insulators find application in the automotive industry for effective charging systems. This, coupled with the increasing demand for hybrid and electric vehicles (H/EVs) on account of the growing concerns about carbon emissions, is favoring the growth of the market. Furthermore, the increasing sales of consumer electronic products like smartphones, tablets, laptops, desktops, and gaming consoles on account of rapid urbanization and expanding purchasing power of consumers is propelling the growth of the market. Besides this, the growing use of electric insulators in the telecommunication industry to allow efficient transmission and processing of signals is creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 557.4 Million by 2028, exhibiting a CAGR of 6.6% during 2023-2028.
- On the basis of the material, the market has been segmented into ceramic/porcelain, glass, composites, and others. At present, ceramic/porcelain represented the biggest segment.
- Based on the voltage, the market has been classified into low, medium, and high. Presently, high voltage holds the largest market share.
- On the basis of the category, the market has been categorized into bushings and other insulators. Bushings currently accounted for the biggest market share.
- Based on the installation, the market has been segregated into distribution networks, transmission lines, substations, railways, and others. Presently, distribution networks represent the largest segment.
- On the basis of the product, the market has been divided into pin insulator, suspension insulator, shackle insulator, and others. Pin insulator currently accounted for the biggest market share.
- Based on the rating, the market has been segmented into <11 kV, 11 kV, 22 kV, 33 kV, 72.5 kV, 145 kV, and others. Presently, 33 kV holds the largest share.
- On the basis of the application, the market has been categorized into transformer, cable, switchgear, busbar, surge protection device, and others. Transformer currently accounted for the biggest market share.
- Based on the end use industry, the market has been classified into utilities, industries, and others. Presently, utilities represent the largest segment.
- On the basis of the region, the market has been divided into North India, West and Central India, South India, and East India. Amongst these, West and Central India enjoys the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
|Base Year of the Analysis
||Material, Voltage, Category, Installation, Product, Rating, Application,
End Use Industry, Region
||North India, West and Central India, South India, East India
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