NGK Insulators, Ltd., Aditya Birla Insulators, Siemens Gas and Power GmbH & Co. KG, General Electric, and Hubbell Incorporated, among others, are the major players in the global electric insulator market.
The global electric insulator market is expected to grow at a CAGR of about 5.7 % in the forecast period of 2022-2027. As per the analysis by Expert Market Research, the market is expected to be driven by the rising demand for energy and the refurbishment of ageing grid technology.
The market for electric insulators is positively driven by certain factors, such as the growing investments in the renovation of ageing grid infrastructure and the increasing adoption of renewable energy sources globally. Furthermore, rapid industrialisation and urbanisation and the initiatives and subsidies given by the governments for shifting to renewable energy are aiding the market growth. The Asia Pacific region countries are improving the power generation facilities to meet the demands of the surging population.
Siemens Gas and Power GmbH & Co. KG (ENR:Xetra) in September 2021 announced the signing of a contract with Greenlink Interconnector Limited to deliver technology to support high-voltage direct current conversion. The contract, signed by Siemens with Sumitomo Electric, its consortium partner, is for the Greenlink 190 km electricity interconnector that would link the power grids between Great Britain and Ireland. With an interlinked system, power can flow towards either country, depending upon the specific demand and supply, improving the overall grid stability.
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NGK Insulators, Ltd is a Japanese manufacturer of electric insulators, environmental systems, industrial ceramic products, and electronic parts, including ceramic catalyst carriers for exhaust gas purification, high-pressure compaction systems, gas analysers, automotive honeycombs for exhaust filtering, and sewer cleaning equipment. The company has 45 consolidated subsidiaries and two equity-method affiliates, employing 19,695 people. It has branches in the United States, France, Belgium, Poland, Thailand, Australia, Indonesia, China, and South Africa. NGK Insulators, Ltd had consolidated sales of JPY 452 billion as of March 2021.
Aditya Birla Insulators is the largest manufacturer of electric insulators in India a leading manufacturer of porcelain electrical insulators globally. The company's products include hollow and solid core insulators for substation applications, insulators for railway electrification, porcelain disc, pin, and post insulators, composite long rod insulators for T&D lines and polymer insulators. It is a division of Grasim Industries Limited and operates in over 58 countries worldwide.
Siemens Gas and Power GmbH & Co. KG, a global leader in energy solutions, is a subsidiary of Siemens AG, a German multinational company. The company was renamed in 2020 to Siemens Energy Global. It offers products for power generation, transmission, industrial applications, renewable energy, and other energy businesses in more than 90 countries.
|Headquarters:||Massachusetts, United States|
General Electric is a diversified global technology and financial services company operating in power, renewable energy, aviation, and healthcare industries. The company's vast portfolio of products as well as services include power generation, oil and gas production equipment, aircraft engines, industrial products, medical imaging, and financing. It operates in over 170 countries with about 174,000 employees globally.
|Headquarters:||Connecticut, United States|
Hubbell Incorporated is an American multinational company that produces electronic and electrical products for markets ranging from commercial and industrial to utility and telecommunications. The products sold by the company are connectors, lighting fixtures, measurement equipment, plugs, receptacles, and processing components for voice and data signals. It owns multiple brands such as Aclara, Acme Electric, Delmar, Fargo, TayMac and others in sectors such as power and utilities, lighting and controls, electrical and wiring, oil and gas, and data communications.
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