Glass Insulators Market Expected to Reach $504.6 Million by 2031—Allied Market Research

The global glass insulator 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 power transmission line insulator manufactured of toughened or annealed glass. Most frequently, a glass insulator is made by combining lime powder with quartz powder, which is then softened at high temperatures. The glass insulator possesses various properties, such as high resistivity and low conductivity. Glass insulators prevent current leakage, assure human safety, and maintain a stable electric circuit. In addition, it is utilized to isolate electrical equipment to prevent outside intrusion.

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. The need for insulators used in electrical infrastructure is to increase as developing nations become further electrified. The fluctuating price of raw materials is the main limitation for the global glass insulator market. The price of raw materials vary because of the imbalance in supply and demand. The price increase of raw materials is also significantly influenced by taxes and import restrictions.

Increase in demand for glass insulators from electrical and electronics sector, expanding construction of infrastructure in the Asia-Pacific region, increasing public awareness of energy-saving approaches, and technological developments in the field of glass insulation are expected to drive the growth of the glass insulator market during the forecast period. Glass insulators have been used in HVAC applications because of its properties, such as low thermal conductivity, electrical resistivity, chemical inertness, and high strength that further make them ideal for use in air conditioning equipment. By keeping a consistent temperature inside an insulated structure and lowering associated operational expenses, these devices assist in reducing energy consumption. In addition, their non-porous design prevents corrosion led by moisture leaking into the core material from the environment. This factor is predicted to create remunerative opportunities for expansion of the glass insulator market in the future.

The glass insulator market forecast is segmented on the basis of type, application, and region. By type, the market is segregated into suspension glass insulator and pin glass insulator. The suspension glass insulator segment dominated the global market, in terms of revenue in 2021, with one-third of the total share. This is attributed to the fact that applications that require high dielectric strength, electrical conductivity, and temperature resistance, such as used in overhead transmission and distribution lines.

By application, the market is divided into distribution & railway, HVDC, and HVAC. The HVAC application dominated the global market in terms of revenue in 2021, with one-third of the total share. This is attributed to increase in demand from the residential sector, particularly air conditioners.

Region-wise, the glass insulator market forecast is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific glass insulator market size is projected to grow at the highest CAGR during the forecast period, and accounted for a major glass insulator market share in 2021.The need for glass insulators rises as more railway lines and seaports are being built since these structures need to be electrified.

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.

Key findings of the study

• By type, the suspension glass insulator segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 4.3% from 2022 to 2031.
• By application, the HVAC segment is anticipated to register the highest CAGR of 4.3% during the forecast period.
• Asia-Pacific garnered the highest glass insulator share of 37.1% in 2021, in terms of revenue, growing at a CAGR of 4.3%.