Ceramic Segment to Dominate Europe Electric Insulator Market During 2021–2028

According to a new market research study on “Europe 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$ 3,709.42 million by 2028 from US$ 2,631.58 million in 2021. The market is estimated to grow at a CAGR of 5.0% from 2021 to 2028. The report provides trends prevailing in the Europe electric insulator market along with the drivers and restraints pertaining to the market growth. Growing industrialization in several countries and escalating railway infrastructure development are the major factor driving the growth of the Europe electric insulator market. However, variation in raw material prices hinders the growth of Europe electric insulator market.    

In case of COVID-19, France is one of the hardest-hit countries by the outbreak across Europe region.  It is expected to suffer an economic hit due to a lack of revenue from various industries. Additionally, with the outbreak of another variant of COVID-19 in the UK, the electric insulator manufacturing in industries is expected to get hampered. The region is a significant manufacturing and industrial hub for sectors such as healthcare, aviation, manufacturing, automotive, and energy & power. Further, due to COVID-19 impact, the demand for electricity in the region decreases, as in 2020, the demand from the commercial sector in UK fell to negative 25% in second quarter. However, in 2021, with the uplifting of lockdowns and vaccination processes, the demand for electricity in industrial and commercial sector is recovering significantly that leads to the growth of electric insulator in the region.

The Europe 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 Europe 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 Europe 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 Europe 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 Europe 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 the UK, Germany, France, Italy, Russia, and rest of Europe.

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 Europe 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, Grasim Industries Limited (Grasim), the parent organization of Aditya Birla Insulators, has formed a joint venture company (JVC) in India with Maschinenfabrik Reinhausen GmbH (MR) of Germany for manufacture and sale of Composite Hollow Core Insulators (CHCI) to serve the power transmission and distribution (T&D) industry globally.