Glass Insulators Market Research, 2031
The global glass insulators market size was valued at $345.8 million in 2021, and is projected to reach $504.6 million by 2031, growing at a CAGR of 3.9% from 2022 to 2031.
A glass insulator is a type of electrical insulation, which is made from toughened or annealed glass. Glass insulators are often used to protect electrical wires and prevent them from interacting with each other. It is usually found in transmission towers, distribution poles, and telephone poles. Glass insulators possess low coefficient of thermal expansion, high cracking resistance, and high electrical resistance. Thus, owing to such functionalities, it is extensively used in electricity distribution.
The growth in glass insulator industry is driven by rise in industrialization, urbanization, rise in disposable income, and increase in electrical, distribution & railway, HVDC, HVAC, smart grid, and others, where glass insulator is used widely in electrical components, for surge in protection device, in cables, switchgear, transformer, busbar as an insulation material due to its insulating property, and high electrical resistance property. This is predicted to propel the growth of the glass insulator market.
Glass insulator offer high dielectric and tensile strength, owing to which, it is widely used in substation, transformer and off-grid infrastructure for surge protection. Increasing regulations of carbon dioxide emissions and rise in prices of raw materials, which are used in the production of glass insulators have hampered the growth of the market. These factors are responsible for the downfall of the glass insulator market.
The glass insulator market forecast is segmented on the basis of type, application, and region. On the basis of type, the market is categorized into suspension glass insulator and pin glass insulator. On the basis of application, it is divided into distribution & railway, HVDC, and HVAC. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
High investment in the power sector, rising adoption of smart grid technologies, as well as advancement of power transmission and distribution infrastructure. Furthermore, increasing R&D investment toward evolving grid networks due to rise in electricity demand accelerates the glass insulator market growth.
The global glass insulator market analysis include profiles of leading players, such as Gamma Insulator, Global Insulator Group, Hubbell, Incap Limited, JSU U.M.E.K, MacLean Power Systems, Nanjing Electric, Seves Group, Shandong Ruitai Glass Insulator Co., Ltd., Sichuan Yibin Global Group, VERESCENCE La Granja Insulators, Victor Insulators, Zhejiang Tailun Insulator Co. Ltd., Zhejiang Jinlihua Electric Co., Ltd., and ZX Insulators. The key players have adopted numerous strategies such as product launch, acquisition, and business expansion to stay competitive in the market. The market is analyzed and estimated in accordance with the impacts of the drivers, restraints, and opportunities. The period studied in this report is 2021–2031. The report includes the study of the glass insulator market with respect to the growth prospects and restraints based on regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.
By type, the suspension glass insulator segment dominated the market. The growth in the suspension glass insulator segment is driven by rise in industrialization, urbanization, rise in disposable income, and increase in the electrical, distribution & railway, HVDC, HVAC, and smart grid where suspension glass insulator is used widely as electrical components, for surge protection device, in cables, switchgear, transformer, busbar as an insulation component due to its insulating property and high electrical resistance property.
By application, the HVAC segment dominated the global glass insulator market in 2021. Modern appliances require AC power. Therefore, setting up converter stations at endpoints to transform DC electricity into AC power is more expensive. As a result, demand for flexible AC transmission equipment is expected to increase. The need for flexible AC transmission equipment from industrial sectors, electric utilities, railroads, renewable energy sources, and the oil & gas industries is expected to rise in the coming years.
By region, Asia-Pacific dominated the global glass insulator market in 2021, and is projected to remain the fastest-growing segment during the forecast period. Due to increased urbanization, population, and industrial sectors in nations of China and India, the Asia-Pacific region is the largest market for glass insulators. As a result, the use of glass insulators in transformers, switchgear, electric cables, and protective devices is growing along with the industrial sector. The expansion of the insulator industry is further aided by the numerous transmission and distribution line projects.
IMPACT OF COVID-19 ON THE GLOBAL GLASS INSULATOR MARKET
The ongoing COVID-19 pandemic has turned into a global crisis, creating a stunning economic effect on every industry sector, including automotive and utilities. There has been a significant decrease in the demand for power as a result of the loss in commercial and industrial activity throughout the crisis. Lockdowns on significant power users, such as railroads, have also been seen to cause widespread problems. Unfavorable COVID-19 effects on electric utilities could obstruct the development of grid transmission facilities, which in turn might make it more difficult to install glass insulators. The COVID-19 problem has resulted in a considerable increase in HVAC demand from the residential sector, particularly air conditioners, despite the continuous manufacturing delays and ensuing equipment constraints. This surge for cooling systems from residential applications may aid the gradual rise of the glass insulator industry during the forecasted period, given the key position of the product in HVAC infrastructures.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the glass insulators market analysis from 2021 to 2031 to identify the prevailing glass insulators market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the glass insulators market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global glass insulators market trends, key players, market segments, application areas, and market growth strategies.
Glass Insulators Market Report Highlights
| Aspects | Details |
 By Type |
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 By Application |
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 By Region |
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 Key Market Players | VERESCENCE La Granja Insulators, Nanjing Electric, ZX Insulators, JSC U.M.E.K., Global Insulator Group, SHANDONG RUITAI GLASS INSULATOR CO.LTD, Zhejiang Jinlihua Electric Co., Ltd., Victor Insulators, Incap Limited, Seves Group, Sichuan Yibin Global Group, Zhejiang Tailun Insulator Co. Ltd., Gamma Insulator (Corona Group), maclean power systems, Hubbell Incorporated |
Analyst Review
The global glass insulator market is expected to exhibit high growth potential. Glass insulator refers to an insulating material for the power transmission line made of toughened or annealed glass. Insulating glass, which has numerous panels separated by spacers composed of either structural foam or metal, including aluminum, is able to significantly reduce heat transfer. Noble gases like krypton and argon can also be used to fill the space between these glasses.
In addition, suspension type insulators offer more adaptability to the power line and reduces mechanical stresses. The advantage of using suspension type insulators in conjunction with steel supporting structure is that it lessens the conductor's susceptibility to cross-arm effects, allowing the tower to serve as a lightning rod. If the load on the transmission line increases quickly, increasing the line voltage rather than adding more conductors can meet the increased demand. Additional line insulation requirements for suspension type insulators can be met by simply attaching one or more discs to the string.
Asia-Pacific is expected to hold the largest market share in glass insulators throughout the forecast years, as a huge number of manufacturers of glass insulators operate business in this region. In Asian nations like China, Japan, South Korea, and India, the need for power has surged due to population growth, urbanization, and the expansion of the industrial sector. The market for glass insulators is expanding as a result of rising investments in power transmission infrastructure and increased government efforts to ensure a clean energy economy.
The CXOs further added that sustained economic growth and the development of the electricity distribution have surged the demand for glass insulators.
The growing need for a steady and dependable source of power distribution is the key factor driving the global glass insulator market. Demand for glass insulators is expected to increase when existing electrical infrastructure is modernized.
Key players operating in the global glass insulator market include, Gamma Insulator, Global Insulator Group, Hubbell, Incap Limited, JSU U.M.E.K, MacLean Power Systems, Nanjing Electric, Seves Group, Shandong Ruitai Glass Insulator Co., Ltd., Sichuan Yibin Global Group, VERESCENCE La Granja Insulators, Victor Insulators, Zhejiang Tailun Insulator Co. Ltd., Zhejiang Jinlihua Electric Co., Ltd., and ZX Insulators.
Additional growth strategies, such as expansion of production capacities, acquisition, and partnership in the development of the innovative products from manufacturers have helped to attain key developments in the India gasketed plate heat exchanger market trends.
The need for insulators used in electrical infrastructure is to increase as developing nations become further electrified. Growing HVAC application, increasing awareness of energy-saving approaches, and technological developments in the field of glass insulation are the emerging trends in the glass insulator market.
The North America region will provide more business opportunities for glass insulator market in coming years.
Natixis Investment Managers, Flexjet and AMG are the potential customers of glass insulator industry.
The glass insulator market is segmented on the basis of type, application, and region. On the basis of type, suspension glass insulator holds the maximum share. On the basis of application, HVAC application holds the maximum share. By Region-wise, Asia -Pacific holds the maximum share of the glass insulator market.
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