Asia pacific electric insulator market value will witness significant growth on account of the increasing investments toward the upgradation of legacy grid infrastructure along with growing efforts toward the establishment of new smart grid network. In addition, rising measures to reduce the electricity demand-supply mismatch will further complement the product demand over the forecast period.
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Increasing electricity demand and aging equipment are few of the key underlying factors favoring product installation. In addition, growing investments toward smart city initiatives will further fuel the product adoption. For instance, the government of India invested over USD 14 billion under the India smart city mission till March 2018. In addition, growing focus toward 100% electrification, most notably across rural areas has created a favorable business scenario.
Porcelain electric insulator market will witness significant gains on account of increasing investments towards enhancing the existing power transmission capabilities. Substantial stress resistance capabilities with optimum mechanical strength are the prominent factors favoring product installation. In addition, the ability of these insulators to offer reliable operation in high temperature will further augment the industry outlook over the forecast timeline.
Medium voltage insulator is set to witness growth on account of increasing investments toward the development of new residential & commercial establishments. Ongoing urbanization coupled with the introduction of supportive regulations & policies aimed toward expanding the grid infrastructure, most notably across developing nations will further boost the product demand. Moreover, shifting trends toward the replacement of existing infrastructure in line with the adoption of stringent technical standards will positively influence the business growth.
Electric insulator market from transformer application is anticipated to witness strong growth on account of growing concerns over increasing losses and power thefts. Rising focus toward real time monitoring of power systems & networks will augment the business growth. For instance, the introduction of new transformers based on internet of things (IOT) platform will enable efficient monitoring of electrical grids, thereby favoring product demand.
Residential insulators will witness significant growth on account of increasing energy demand complemented by the rapid urbanization. Shifting trends toward the adoption of clean energy resources across the power generation & mobility sector has proliferated the business landscape. In addition, ongoing efforts toward the establishment of microgrids to effectively support renewable energy integration will further stimulate the product demand.
Asia Pacific electric insulator market from 11 kV insulators will witness gains on account of ongoing investments towards development of new and advanced distribution networks. Increasing applications of low voltage insulator across residential establishments will also compliment the business growth over the forecast timeframe. In addition, the growing demand for sustainable energy mix across the energy portfolio will further boost the product demand over the forecast timeframe.
Some major players operating across the industry are ABB, NGK Insulators Ltd, Aditya Birla Nuvo, BHEL, Toshiba, Krempel, Olectra Greentech, TE connectivity, Lapp Insulators, Deccan Enterprises, Dalian Yilian Technology Co Ltd, Zhejiang Zhongneng Electrical Co Ltd amongst others.