According to the recent study the composites insulator market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 7% to 9% from 2023 to 2028. Growth in this market is primarily driven by rapid modernization of power lines, growing emphasis on grid network expansion and increasing adoption of renewable energy source.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in composites insulator market by voltage (high voltage, medium voltage, and low voltage), application (cable & transmission line, switchgear, transformer, bus bar, and others), product (pin, suspension, shackle, and others), end use industry (residential, commercial & industrial, utility, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“High voltage market is expected to remain the largest segment during the forecast period.”
Based on voltage, the composites insulator market is segmented into high voltage, medium voltage, and low voltage. Lucintel forecasts that the high voltage market is expected to remain the largest segment due to the growing demand for high voltage insulators for long-distance electricity transmission among industries.
“Within the composites insulator market, the utility segment is expected to remain the largest end use industry”
Based on end use industry the utility segment is expected to witness the highest growth over the forecast period due to the increasing wide-ranging transmission establishment and rising plans for implementation of electrification.
“Asia pacific will dominate the composites insulator market in near future”
APAC will remain the largest region due to the rising energy demand across emerging nations, rising construction of transmission and distribution (T&D) infrastructure, and growing industrial sector in the region.
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Major players of composites insulator market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. General Electric, Siemens Energy, Bharat Heavy Electricals, ABB, INAEL Electrical, Spark Insulators, Saravana Global Energy are among the major composites insulator providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/composites-insulator-market.aspx or [email protected]