According the latest report published by Market Research Future (MRFR), the global insulator market is set to exhibit a compound annual growth rate of 6% during the assessment period (2018-2023). Growing need for uninterrupted power supply, and increased focus on safety of transmission & distribution networks are among the key factors supporting the market growth. Moreover, replacement of aging electric grids is also creating market opportunities.

Insulators have properties such as high dielectric strength, resistivity and low thermal expansion. Electric insulators have emerged as an important component in electrification activity. They are used in activities such as grid expansion, setting up new transmission and distribution units and developing electrical infrastructure. Insulator are common across the globe; they find application in various industry verticals. With safety regulation becoming more stringent, application of insulation continues to grow in industries.

Modern insulators have compact designs and are cost-effective, which make them suitable for various utilities. The growing demand for electricity is leading to development of new grids, which continues to drive insulator demand worldwide. However, rising raw material price and increased focus on developing alternative solutions may hamper the market during the forecast period.

Also Read: https://www.marketwatch.com/press-release/insulator-market-2020-worldwide-overview-growth-insights-covid---19-impact-analysis-top-manufacturers-opportunity-assistance-and-forecast-to-2025-2020-06-01

Segmental Overview

The segmental analysis of the global insulator market has been conducted on the basis of type, voltage, application, and end user.

By type, the market has been segmented into composite, glass and ceramic.

By voltage, the market has been segmented into low voltage, medium voltage and high voltage. .

By application, the market has been segmented into transformers, cables & transmission lines, busbars, switchgears, surge protection services and others.

Browse Full Report @ https://www.marketresearchfuture.com/reports/insulator-market-3771

APAC Leads the Global Insulator Market

On the basis of region, the global insulator market has been into Asia Pacific (APAC), North America, the Middle East & Africa (MEA) and Latin America.

Among these, the APAC insulator market is expected to remain highly lucrative during the forecast period. Rapid urbanization, industrialization and economic growth in countries such as China and India is reflecting favorably on the market in APAC. At the same time, expansion of the construction & infrastructure sector remains a positive element for the insulator market.

Competitive Analysis

MRFR in its report has covered some of the leading companies operating in the global insulator market, namely Siemens AG (Germany), Aditya Birla Nuvo Ltd. (India), Toshiba Corporation (Japan), Seves Group (Italy), ELANTAS GmbH (Germany), General Electric (U.S.), Dalian Yilian Technology Co. Ltd. (China), Alstom S.A (France), Hubbell Incorporated (U.S) and Bharat Heavy Electricals Limited. (India).