New York (US), Aug. 16, 2023 (GLOBE NEWSWIRE) -- Glass Insulators Market Overview
According to a Comprehensive Report by Market Research Future (MRFR), “Glass Insulators Market Information by Type, Application, and Region - Forecast till 2032", The glass insulators market can anticipate an increase from USD 0.39 billion in 2023 to USD 0.55 billion by 2032, at 4.20% rate over the appraisal period (2023-2032).
Market Scope
Electrical insulation that is produced from toughened or annealed glass is known as a glass insulator. Electrical lines are frequently shielded with glass insulators to keep them safe and separate from one another. It is typically found in telephone, distribution, and transmission towers. Glass insulators have a low thermal expansion coefficient, a high resistance to cracking, and a high electrical resistance. Therefore, because of these features, it is widely utilized in the distribution of power.
Key market factors enhancing market growth include rising electricity demand, benefits of glass insulators, integration of renewable energy sources, infrastructure development, grid modernization and smart grid initiatives, government regulations and standards, expansion of the telecommunications sector, and technological advancements.
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Market Competitive Landscape:
The well-known developers of glass insulators are
- Zhejiang Tailun Insulator Co. Ltd.
- Seves Group
- Gamma Insulator (Corona Group)
- JSC U.M.E.K.
- maclean power systems
- SHANDONG RUITAI GLASS INSULATOR CO.LTD
- Zhejiang Jinlihua Electric Co. Ltd.
- Victor Insulators
- VERESCENCE La Granja Insulators
- Nanjing Electric
- ZX Insulators
- Incap Limited
- Global Insulator Group
- Hubbell Incorporated
- Sichuan Yibin Global Group
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2032 | USD 0.55 Billion |
| CAGR | 4.20% (2023-2032) |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Key Market Drivers | Refurbishment of Existing grid Networks |
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Market USP Covered:
Market Drivers:
The development of technologies in electrical, distribution & railway, HVDC, HVAC, smart grid, and other industries, where glass insulator is widely used in electrical components, for surge in protection devices, in cables, switchgear, transformers, and busbar as an insulation material due to its insulating property, is what is driving the growth of the glass insulator industry. This is anticipated to fuel the market for glass insulators.
Glass insulators are used extensively in substations, transformers, and off-grid equipment for surge protection because they have excellent dielectric and tensile strengths. The market's expansion has been limited by rising carbon dioxide emission laws and the cost of raw materials used to make glass insulators. The market for glass insulators has declined as a result of these issues.
The market benefits from increased power sector investment, expanding smart grid technology use, and improved power transmission and distribution infrastructure. Additionally, the rise in energy demand stimulates the growth of the glass insulator market by increasing R&D investments in growing grid networks.
Market Restraints:
Strict laws governing carbon dioxide emissions and unfavorable circumstances brought on by the COVID-19 epidemic are impeding the market's expansion.
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COVID 19 Analysis
In addition to having a devastating economic impact on every industry sector, including the automobile and utility industries, the ongoing COVID-19 epidemic has developed into a global calamity. The loss of commercial and industrial activity throughout the crisis has resulted in a major reduction in the demand for power. Lockdowns of major power users, including railroads, have also been observed to lead to several issues. Effects of COVID-19 that are unfavourable to electric utilities may hinder the construction of grid transmission facilities, which may make it more challenging to install glass insulators. Despite ongoing manufacturing delays and resulting equipment limitations, the COVID-19 issue has significantly increased domestic HVAC demand, notably for air conditioners.
Given the importance of the product in HVAC infrastructures, the expansion of the glass insulator business during the anticipated period may be aided by the spike in cooling systems from residential applications.
Market Segmentation
By Type
Suspension glass insulators and pin glass insulators are two different types of glass insulators available on the market. In 2022, the suspension glass insulators market segment was the largest. Due to their reliable mechanical and electrical properties, suspension glass insulators are used to transmit electricity across great distances. Their ability to withstand environmental challenges like pollution and bad weather may have contributed to their success in the market.
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By Application
Distribution and railway applications, HVDC applications, and HVAC applications are all areas where glass insulators are used. In 2022, the HVAC applications category produced the highest revenue. The HVAC business is very concerned with energy efficiency due to its significant energy use. As governments and businesses promote energy efficiency and sustainability, high-efficiency HVAC systems that can reduce energy consumption and running costs are becoming more and more crucial. The focus on energy-efficient HVAC options might have contributed to the segment's revenue growth.
Regional Insights
Since 2022, North America has dominated the liquid packaging market (45.80%). The proliferation of renewable energy installations requires the construction of additional transmission lines and substations that use glass insulators. The development of cleaner, more sustainable energy sources may have raised the demand for glass insulators in the area.
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