Composite Line Post Insulators Market
Composite Line Post Insulators Market - Global Industry Analysis 2016 - 2020 and Opportunity Assessment 2021 - 2031
Composite Line Post Insulators Market Segmented By Voltage such as Low, Medium, High having Distribution Networks, Transmission Lines, Substations Railways as Installation
Composite Line Post Insulators Market Forecast and CAGR
According to research estimates, the Composite Line Post Insulators market is projected to expand between 5% and 7% CAGR during the 2021 to 2031 assessment period.
The Composite Line Post Insulators market is anticipated to observe moderate growth rate in the forecast period on the back of ageing grid infrastructure overhaul process, coupled with increasing integration of T&D lines and renewable technologies into grid infrastructure.
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What is Driving Demand for Composite Line Post Insulators?
Composite Line Post insulators is a High Voltage (HV) type of insulator which is used in distribution and transmission line and designed based on the IEC, ANSI and other standards. This insulator is constructed from composite materials (silicone rubber) or one piece of porcelain. The post insulator is extensively used in different applications because of its excellent mechanical properties.
As composite line post insulators play crucial part in proper transmission and distribution, with increase in energy demand, line post insulator market is also anticipated to flourish. Increasing Energy demand from commercial and industrial utilities is one of the key factor driving the market, with increasing rate of electrification network architecture set to touch record high in coming years.
According to IEA, after falling by about 1% in 2020 due to the impacts of the Covid-19 pandemic, global electricity demand is set to grow by close to 5% in 2021 and 4% in 2022 – driven by the global economic recovery.
Additionally ageing grid and refurbishment of existing grid infrastructure and increasing integration of renewable energy into grid infrastructure to increase cost effectiveness and efficiency will demand for this insulators in the forecast period.
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Which Opportunity is going to profit Composite Line Post Insulators Market most?
The growing number of smart city initiatives around the world gives a great opportunity for technology firms, service providers, utility companies, and consultancy firms.
Smart cities use technology and optimal resource utilization to manage critical services such as utility, safety, transportation, and health more efficiently and intelligently and therefore smart cities are likely to be very dependable on smart grids for proper working of its activities and functions.
Since smart grids and composite line post insulators are set to grow synchronously, increase in grids or smart grids will pose positive impact on the market.
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US Composite Line Post Insulators Market Growth Outlook
US is one of the top nations in energy consumptions and according to EIA, in 2019, the average annual electricity consumption for a U.S. residential utility customer was 10,649 kilowatt-hours (kWh), an average of about 877 kWh per month.
The US has been known to record a higher rate of power blackouts than any other developed country. The cost of these blackouts to American firms is estimated to be over USD 150 billion per year. 75% of transmission lines and transformers are 25 years old or older, according to the US Department of Energy, owing to which US government is planning to invest large sum to upgrade grid infrastructure and this will significantly impact the market.
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APAC Demand Potential for Composite Line Post Insulators
According to U.S. Energy Information Administration (EIA) the world energy consumption will grow by nearly 50% between 2018 and 2050. Most of this growth comes from countries that are not in the Organization for Economic Cooperation and Development (OECD), and this growth is focused in regions where strong economic growth is driving demand, particularly in Asia.
It is estimated that APAC will observe very significant growth rate in the forecast period. Since APAC has world’s top two populated countries i.e. China and India respectively. The energy demand will increase tremendously and so will demand for composite line post insulators.
Who are the Key Manufacturers and Suppliers of Composite Line Post Insulators?
Some of the leading manufacturers and suppliers of
- Hitachi ABB
- TE Connectivity
- Hunan Yangdong Porcelain Insulators and Electric Co. Ltd
- NGK INSULATORS LTD.
- WINNING ELECTRICAL CO.
Many leading manufacturers are large scale power system manufactures and have agreements and tie-ups with federal and state governments for grids and other related systems for upgrading energy infrastructure.
- Distribution Networks
- Transmission Lines
- North America
- Latin America
- East Asia
- South Korea
- South Asia & Pacific
- ASEAN Countries
- Middle East and Africa
- GCC Countries
- North Africa
- South Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Composite Line Post Insulators Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.