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Global Composite Insulators Market Share, Size, Trends, Growth, Analysis, Overview, Forecast: By Product: Suspension, Pin, Shackle, Others; By Installation: Railways, Substation, Transmission and Distribution, Others; By Voltage: High Voltage, Medium Voltage, Low Voltage; By Application; Regional Analysis; Competitive Landscape; 2023-2028

Global Composite Insulators Market Outlook

The global composite insulators market size reached a value of over USD 2 billion in 2022. The market is further estimated to grow at a CAGR of 7.00% in the forecast period of 2023-2028.

 

Rising Adoption of Suspension Insulators to Propel the Market Growth 

Based on product, the increasing adoption of suspension insulators is aiding the composite insulators market growth. There is an increasing availability of different suspension insulators, such as the cap and pin type and the Hewlett or interlink type, offering consumers with diverse choices for different applications. Suspension composite insulators are increasingly used in voltages beyond 33KV as they offer easy installation compared to pin-type insulators. 

 

There is an increasing need for insulation with the rise in operating voltage, which is surging the adoption of suspension insulators owing to their lower price, high performance, and reduced mechanical stresses in this insulator arrangement. As discs are connected in series with the string in suspension insulators depending on the voltage, the requirement for replacing the whole string during the damage of a unit is eliminated.

 

Suspension insulators offer flexibility to the transmission line and partly protect conductors that are placed below them from lightning, which is bolstering their adoption. Further, exceptional features of suspension insulators like lightweight, unbreakable, high strength, and strong explosion protection, among others, are accelerating the composite insulators market development.

 

Market Segmentation

Composite insulators, also called synthetic insulators, are used in the electrical power sector to support conductors, hold them in position, and separate them from one another. Composite insulators limit current flow and protect from the dangerous effect of electricity.

 

The market for composite insulators, by product, is divided into:

  • Suspension
  • Pin
  • Shackle
  • Others

 

Based on installation, the market is classified into:

  • Railways
  • Substation
  • Transmission and Distribution
  • Others

 

On the basis of voltage, the market is segmented into:

  • High Voltage
  • Medium Voltage
  • Low Voltage

 

Based on application, the market is classified into:

  • Switch Gears
  • Transmission Lines
  • Busbars
  • Transformers
  • Others

 

The regional markets for composite insulators can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Increasing Demand for Electricity to Drive the Market Growth of Composite Insulators

The rising demand for electricity worldwide is leading to the transmission of power through overhead lines; and composite insulators are increasingly used to electrically isolate these line conductors from the support structure and provide them with mechanical support. The expanding railways across the globe and the application of composite insulators in the overhead rail electric traction system to supply power to the train's locomotives are contributing to the composite insulators market expansion. 

 

Silicone rubber, the main component of composite insulators, offers excellent ozone resistance performance and stability against different weather conditions, which is propelling the use of composite insulators. Additionally, the short manufacturing process time of composite insulators is significantly reducing their delivery periods. 

 

Various government initiatives towards replacing porcelain or glass insulators with composite insulators owing to their favourable properties are accelerating the composite insulators market development. For instance, the Indian Railways are increasingly using composite insulators over glass or porcelain due to their multiple advantages, such as excellent contamination and pollution performance, low maintenance, cost-effectiveness, lightweight, and resistance to damages. 

 

The increasing R&D activities by key market players to offer composite insulators that provide excellent performance in adverse climates and harsh environmental conditions are expected to augment the market over the forecast period.

 

Key Players in the Global Market for Composite Insulators

The report gives a detailed analysis of the following key players in the global composite insulators market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

 

  • Radpol S.A.
  • Wish Composite Insulator Co., Ltd.
  • Doubletree Systems, Inc.
  • Saver SpA
  • Bonomi Eugenio SpA
  • Others

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Installation
  • Voltage
  • Application
  • Region
Breakup by Product
  • Suspension
  • Pin
  • Shackle
  • Others
Breakup by Installation
  • Railways
  • Substation
  • Transmission and Distribution
  • Others
Breakup by Voltage
  • High Voltage
  • Medium Voltage
  • Low Voltage
Breakup by Application
  • Switch Gears
  • Transmission Lines
  • Busbars
  • Transformers
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Radpol S.A.
  • Wish Composite Insulator Co., Ltd.
  • Doubletree Systems, Inc.
  • Saver SpA
  • Bonomi Eugenio SpA
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Composite Insulators Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Composite Insulators Historical Market (2018-2022) 
    8.3    Global Composite Insulators Market Forecast (2023-2028)
    8.4    Global Composite Insulators Market by Product
        8.4.1    Suspension
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Pin
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Shackle
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
        8.4.4    Others
    8.5    Global Composite Insulators Market by Installation 
        8.5.1    Railways
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Substation
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Transmission and Distribution
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
        8.5.4    Others
    8.6    Global Composite Insulators Market by Voltage
        8.6.1    High Voltage
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Medium Voltage
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Low Voltage
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022)
            8.6.3.3    Forecast Trend (2023-2028)
    8.7    Global Composite Insulators Market by Application
        8.7.1    Switch Gears
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022)
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Transmission Lines
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022)
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    Busbars
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022)
            8.7.3.3    Forecast Trend (2023-2028)
        8.7.4    Transformers
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2022)
            8.7.4.3    Forecast Trend (2023-2028)
        8.7.5    Others
    8.8    Global Composite Insulators Market by Region
        8.8.1    Market Share
            8.8.1.1    North America
            8.8.1.2    Europe
            8.8.1.3    Asia Pacific
            8.8.1.4    Latin America
            8.8.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2018-2022)
        9.1.2    Forecast Trend (2023-2028)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2018-2022)
        9.2.2    Forecast Trend (2023-2028)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2018-2022)
        9.3.2    Forecast Trend (2023-2028)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2018-2022)
        9.4.2    Forecast Trend (2023-2028)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2018-2022)
        9.5.2    Forecast Trend (2023-2028)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    Radpol S.A.
            11.2.1.1    Company Overview
            11.2.1.2    Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Certifications
        11.2.2    Wish Composite Insulator Co., Ltd.
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Certifications
        11.2.3    Doubletree Systems, Inc.
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Certifications
        11.2.4    Saver SpA
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Certifications
        11.2.5    Bonomi Eugenio SpA
            11.2.5.1    Company Overview
            11.2.5.2    Product Portfolio
            11.2.5.3    Demographic Reach and Achievements
            11.2.5.4    Certifications
        11.2.6    Others
12    Industry Events and Developments

 

List of Key Figures and Tables

1.    Global Composite Insulators Market: Key Industry Highlights, 2018 and 2028
2.    Global Composite Insulators Historical Market: Breakup by Product (USD Billion), 2018-2022
3.    Global Composite Insulators Market Forecast: Breakup by Product (USD Billion), 2023-2028
4.    Global Composite Insulators Historical Market: Breakup by Installation (USD Billion), 2018-2022
5.    Global Composite Insulators Market Forecast: Breakup by Installation Channel (USD Billion), 2023-2028
6.    Global Composite Insulators Historical Market: Breakup by Voltage (USD Billion), 2018-2022
7.    Global Composite Insulators Market Forecast: Breakup by Voltage Channel (USD Billion), 2023-2028
8.    Global Composite Insulators Historical Market: Breakup by Application (USD Billion), 2018-2022
9.    Global Composite Insulators Market Forecast: Breakup by Application (USD Billion), 2023-2028
10.    Global Composite Insulators Historical Market: Breakup by Region (USD Billion), 2018-2022
11.    Global Composite Insulators Market Forecast: Breakup by Region (USD Billion), 2023-2028
12.    North America Composite Insulators Historical Market: Breakup by Country (USD Billion), 2018-2022
13.    North America Composite Insulators Market Forecast: Breakup by Country (USD Billion), 2023-2028
14.    Europe Composite Insulators Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    Europe Composite Insulators Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    Asia Pacific Composite Insulators Historical Market: Breakup by Country (USD Billion), 2018-2022
17.    Asia Pacific Composite Insulators Market Forecast: Breakup by Country (USD Billion), 2023-2028
18.    Latin America Composite Insulators Historical Market: Breakup by Country (USD Billion), 2018-2022
19.    Latin America Composite Insulators Market Forecast: Breakup by Country (USD Billion), 2023-2028
20.    Middle East and Africa Composite Insulators Historical Market: Breakup by Country (USD Billion), 2018-2022
21.    Middle East and Africa Composite Insulators Market Forecast: Breakup by Country (USD Billion), 2023-2028
22.    Major Exporting Countries by Value
23.    Major Importing Countries by Value
24.    Major Exporting Countries by Volume
25.    Major Importing Countries by Volume
26.    North America Historical Price Trends and Forecast 2018-2028
27.    Europe Historical Price Trends and Forecast 2018-2028
28.    Asia Pacific Historical Price Trends and Forecast 2018-2028
29.    Latin America Historical Price Trends and Forecast 2018-2028
30.    Middle East and Africa Historical Price Trends and Forecast 2018-2028
31.    Global Composite Insulators Market Structure

Key Questions Answered in the Report

In 2022, the market attained a value of above USD 2 billion.

The market is assessed to grow at a CAGR of 7.00% between 2023 and 2028.

The major market drivers include the growing popularity of silicone rubber, the rising use of composite insulators in expanding railways, favourable properties and short manufacturing process time of composite insulators, and the rising demand for suspension insulators owing to their multiple advantages such as easy installation and cost-effectiveness.

The key trends guiding the growth of the market include the increasing demand for electricity, the rising need for composite insulators to support conductors, and the development of excellent composite insulators by market players.

The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The significant products of composite insulators include suspension, pin, and shackle, among others.

Composite insulators are typically used in power grids, high-voltage products, and railways to separate and support electrical conductors.

The various installations of composite insulators include railways, substation, and transmission and distribution, among others.

The different voltages of composite insulators include high voltage, medium voltage, and low voltage.

The various applications of composite insulators include switch gears, transmission lines, busbars, and transformers, among others.

The major players in the market are Radpol S.A., Wish Composite Insulator Co., Ltd., Doubletree Systems, Inc., Saver SpA, and Bonomi Eugenio SpA, among others.

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