Report : Asia-Pacific Electric Insulator Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Shackle Insulator, Pin Insulator, Suspension Insulator, and Other Product Types), Material Type (Ceramic, Glass, and Composite), Application (Transformer, Busbar, Cable, Switchgear, Surge Protection Device, and Other Applications), and End User (Utilities, Industries, and Other End Users)

Transformer Segment to Dominate APAC Electric Insulator Market During 2021–2028

According to a new market research study on “APAC Electric Insulator Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type, Material Type, Application, and End User” is expected to reach US$ 5,764.49 million by 2028 from US$ 3,614.23 million in 2021. The market is estimated to grow at a CAGR of 6.9% from 2021 to 2028. The report provides trends prevailing in the APAC electric insulator market along with the drivers and restraints pertaining to the market growth.  Growing trend of smart cities and smart grids and surging electricity demand are the major factor driving the growth of the APAC electric insulator market. However, raw material prices fluctuation hinders the growth of APAC electric insulator market.     

In case of COVID-19, APAC is highly affected specially India. The COVID-19 that emerged in China has affected several neighboring countries such as India, South Korea, and Japan, among others. China and India are the most prominent manufacturing hub in the region and have an enhanced focus on industrialization. The growth of the manufacturing industry has been hampered due to lockdown but soon expected to recover the development by enhancing the production capabilities in the second half of the year 2021. The imposition of a ban on commercial activities has disrupted the industrial supply chains in APAC region, leading to raw material shortages. Further, due to COVID-19 outbreak, the demand of electricity in the region falls in 2020. However, with uplifting of lockdown in 2021, the electricity demand and production both increasing due to the working of industrial and commercial sector. Therefore, with growing electricity demand, the need for electric insulator is also rising.

The APAC electric insulator market has been segmented based on product type, material type, application, end user, and country. Based on product type, the market is segmented into shackle insulator, pin insulator, suspension insulator, and other product types. The pin insulator segment dominated the APAC electric insulator market in 2020 and suspension insulator segment is expected to be fastest growing during forecast period. Based on material type, the market is segmented into ceramic, glass, and composite. The ceramic segment dominated the APAC electric insulator market in 2020 and composite segment is expected to be fastest growing during forecast period. Based on application, the market is segmented into transformer, busbar, cable, switchgear, surge protection device, and other applications. The transformer segment dominated the APAC electric insulator market in 2020 and same segment is expected to be fastest growing during forecast period. Based on end user, the market is segmented into utilities, industries, and other end users. The utilities segment dominated the APAC electric insulator market in 2020 and same segment is expected to be fastest growing during forecast period. Based on country, the market has been segmented into China, Japan, India, South Korea, Australia, and rest of APAC.

Aditya Birla Insulators; General Electric Company; Hitachi ABB Power Grids Group; Hubbell Incorporated; MacLean-Fogg Company; NGK Insulators, Ltd.; PFISTERER Holding AG; SEVES Group; Siemens AG; and TE Connectivity Ltd. are among the leading companies in the APAC electric insulator market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Siemens Energy and the International Renewable Energy Agency (IRENA) have signed a partnership agreement aimed at advancing the global energy transition based on renewable energy, in support of sustainable development goals and climate action.     

Contact Us
Contact Person: Sameer Joshi 
Phone: +1-646-491-9876

Download Free PDF Brochure