North America 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)
Market Introduction
North America is one of the technologically advanced regions, with the presence of major economies such as the US, Canada, and Mexico. The developed countries in the region are known for adopting advanced technologies, high standards of living, and developed infrastructure. Several industries such as automotive, transportation, electronics, and telecommunications, in the region are expanding their production scale to cater to consumer demands. The increase in power consumption is one of the factors for the growth of the electric insulator market in North America. According to the Thomson Reuters data of 2021, US power consumption will rise by 1.6% this year as the state and local governments ease COVID-19 lockdowns. Further, the Energy Information Administration (EIA) has projected that the power demand will rise to a two-year high of 3,864 billion kilowatt-hours (kWh) in 2021 and 3,931 billion kWh in 2022 from a coronavirus-depressed, of about 3,803 billion kWh in 2020. Further, in North America, it has been observed that the number of smart grid projects has increased in recent years. For instance, in 2021, the Sault Smart Grid Project (SSG Project) started in Canada. This project is expected to transform the entire distribution system through integrating various technologies such as voltage optimization, distribution automation, and advanced metering infrastructure. Similarly, the Canadian government is investing over US$ 960 million to upgrade the electricity grid and use renewable energy to generate clean, affordable electricity in communities across Canada. Therefore, the increase in the number of smart grid projects across North America is also boosting the need for electric insulators.
In case of COVID-19, North America is among the worst-hit regions by the pandemic. The US, Canada, and Mexico have witnessed a significant rise in the number of COVID-19 infected patients. COVID-19 has negatively impacted manufacturing businesses in the region in four critical areas, such as supply chain/operations, workforce, 2020 investments, and product offering. In the first nine months, overhead costs, including expenses for sales, research & development (R&D), and administration of various providers fell adversely, due to severe measures taken during the pandemic. The North American market suffered a loss in the year 2020 owing to the high number of COVID-19 cases, specifically in the US. Such as, there is a decline in the power consumption of about -3.9% from past year in 2020. However, in 2021, after the uplifting of lockdowns and ongoing vaccination processes, the electricity demand in commercial and industrial areas are recovering slowly. As in US, the commercial sector demand remained around 5% in the first quarter of 2021.
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Market Overview and Dynamics
The North America electric insulator market is expected to grow from US$ 2,774.37 million in 2021 to US$ 3,983.90 million by 2028; it is estimated to grow at a CAGR of 5.3% from 2021 to 2028. Rising trend of smart cities and smart grids is expected to fuel the market growth. With the rise in urbanization and the emergence of advanced technologies, many countries are focusing on building smart cities for a healthier and luxurious lifestyle. For instance, in 2021, Toyota announced that their Smart City project had begun. The city is envisioned to be a smart city that is a “living laboratory” spread across 175 acres and will be used to test autonomous vehicles, along with consumer and industrial grade robotics, and above all, the integration of artificial intelligence with the personal lives and mobility of its residents. The city was initially announced back in January 2020 at the Consumer Electronics Show, Las Vegas, where it was described as a “prototype city of the future where all ecosystems are connected.” In smart cities, the key services including utility, transportation, safety, and health are managed more efficiently using technology and proper utilization of resources. Smart cities are likely to depend on smart grids to provide robust energy to perform the key activities and functions. Therefore, with the growing number of smart city projects, the need for electric insulators is required for applicable in smart power grids, which will drive the North America market growth.
Key Market Segments
In terms of product type, the pin insulator segment accounted for the largest share of the North America electric insulator market in 2020. In terms of material type, the ceramic segment held a larger market share of the North America electric insulator market in 2020. In terms of application, the transformer segment held a larger market share of the North America electric insulator market in 2020. Further, the utilities segment held a larger share of the North America electric insulator market based on end user in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America electric insulator market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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.
Reasons to buy report
- To understand the North America electric insulator market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America electric insulator market
- Efficiently plan M&A and partnership deals in North America electric insulator market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America electric insulator market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
North America Electric Insulator Market Segmentation
North America Electric Insulator Market - By Product Type
- Shackle Insulator
- Pin Insulator
- Suspension Insulator
- Other Product Types
North America Electric Insulator Market - By Material Type
- Ceramic
- Glass
- Composite
North America Electric Insulator Market - By Application
- Transformer
- Busbar
- Cable
- Switchgear
- Surge Protection Device
- Other Applications
North America Electric Insulator Market - By End User
- Utilities
- Industries
- Other End Users
North America Electric Insulator Market - By Country
- US
- Canada
- Mexico
North America Electric Insulator Market - Company Profiles
- 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
- TE Connectivity Ltd.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Electric Insulator Market – By Product Type
1.3.2 North America Electric Insulator Market – By Material Type
1.3.3 North America Electric Insulator Market – By Application
1.3.4 North America Electric Insulator Market – By End User
1.3.5 North America Electric Insulator Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Electric Insulator Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Electric Insulator Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Electricity Demand
5.1.2 Increasing Industrialization in Several Countries
5.2 Market Restraints
5.2.1 Change in Raw Material Prices
5.3 Market Opportunities
5.3.1 Surging Railway Infrastructure Development
5.4 Future Trends
5.4.1 Rising Trend of Smart Cities and Smart Grids
5.5 Impact Analysis of Drivers and Restraints
6. Electric Insulator Market – North America Analysis
6.1 North America Electric Insulator Market Overview
6.2 North America Electric Insulator Market –Revenue and Forecast to 2028 (US$ million)
7. North America Electric Insulator Market Analysis – By Product Type
7.1 Overview
7.2 North America Electric Insulator Market Breakdown, By Product Type, 2020 and 2028
7.3 Shackle Insulator
7.3.1 Overview
7.3.2 Shackle Insulator: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
7.4 Pin Insulator
7.4.1 Overview
7.4.2 Pin Insulator: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
7.5 Suspension Insulator
7.5.1 Overview
7.5.2 Suspension Insulator: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
7.6 Other Product Types
7.6.1 Overview
7.6.2 Other Product Types: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
8. North America Electric Insulator Market Analysis – By Material Type
8.1 Overview
8.2 North America Electric Insulator Market Breakdown, By Material Type, 2020 and 2028
8.3 Ceramic
8.3.1 Overview
8.3.2 Ceramic: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
8.4 Glass
8.4.1 Overview
8.4.2 Glass: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
8.5 Composite
8.5.1 Overview
8.5.2 Composite: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
9. North America Electric Insulator Market Analysis – By Application
9.1 Overview
9.2 North America Electric Insulator Market Breakdown, By Application, 2020 and 2028
9.3 Transformer
9.3.1 Overview
9.3.2 Transformer: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
9.4 Busbar
9.4.1 Overview
9.4.2 Busbar: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
9.5 Cable
9.5.1 Overview
9.5.2 Cable: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
9.6 Switchgear
9.6.1 Overview
9.6.2 Switchgear: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
9.7 Surge Protection Device
9.7.1 Overview
9.7.2 Surge Protection Device: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
9.8 Other Applications
9.8.1 Overview
9.8.2 Other Applications: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
10. North America Electric Insulator Market Analysis– By End User
10.1 Overview
10.2 North America Electric Insulator Market Breakdown, By End User, 2020 and 2028
10.3 Utilities
10.3.1 Overview
10.3.2 Utilities: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
10.4 Industries
10.4.1 Overview
10.4.2 Industries: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
10.5 Other End Users
10.5.1 Overview
10.5.2 Other End Users: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
11. North America Electric Insulator Market – Country Analysis
11.1 Overview
11.1.1 North America Electric Insulator Market Breakdown, by Country
11.1.1.1 US Electric Insulator Market, Revenue and Forecast to 2028
11.1.1.1.1 US Electric Insulator Market Breakdown, By Product Type
11.1.1.1.2 US Electric Insulator Market Breakdown, By Material Type
11.1.1.1.3 US Electric Insulator Market Breakdown, By Application
11.1.1.1.4 US Electric Insulator Market Breakdown, By End User
11.1.1.2 Canada Electric Insulator Market, Revenue and Forecast to 2028
11.1.1.2.1 Canada Electric Insulator Market Breakdown, By Product Type
11.1.1.2.2 Canada Electric Insulator Market Breakdown, By Material Type
11.1.1.2.3 Canada Electric Insulator Market Breakdown, By Application
11.1.1.2.4 Canada Electric Insulator Market Breakdown, By End User
11.1.1.3 Mexico Electric Insulator Market, Revenue and Forecast to 2028
11.1.1.3.1 Mexico Electric Insulator Market Breakdown, By Product Type
11.1.1.3.2 Mexico Electric Insulator Market Breakdown, By Material Type
11.1.1.3.3 Mexico Electric Insulator Market Breakdown, By Application
11.1.1.3.4 Mexico Electric Insulator Market Breakdown, By End User
12. North America Electric Insulator Market- COVID-19 Impact Analysis
12.1 North America
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Merger and Acquisition
13.4 New Development
14. Company Profiles
14.1 Hitachi ABB Power Grids Group
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Aditya Birla Insulators
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 General Electric Company
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Hubbell Incorporated
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 MacLean-Fogg Company
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 NGK Insulators, Ltd.
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 PFISTERER Holding AG
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 SEVES Group
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Siemens AG
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 TE Connectivity Ltd.
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Word Index
LIST OF TABLES
Table 1. North America Electric Insulator Market – Revenue and Forecast to 2028 (US$ million)
Table 2. North America Electric Insulator Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 3. US Electric Insulator Market, Revenue and Forecast to 2028 – By Product Type (US$ million)
Table 4. US Electric Insulator Market, Revenue and Forecast to 2028 – By Material Type (US$ million)
Table 5. US Electric Insulator Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 6. US Electric Insulator Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 7. Canada Electric Insulator Market, Revenue and Forecast to 2028 – By Product Type (US$ million)
Table 8. Canada Electric Insulator Market, Revenue and Forecast to 2028 – By Material Type (US$ million)
Table 9. Canada Electric Insulator Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 10. Canada Electric Insulator Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 11. Mexico Electric Insulator Market, Revenue and Forecast to 2028 – By Product Type (US$ million)
Table 12. Mexico Electric Insulator Market, Revenue and Forecast to 2028 – By Material Type (US$ million)
Table 13. Mexico Electric Insulator Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 14. Mexico Electric Insulator Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Electric Insulator Market Segmentation
Figure 2. North America Electric Insulator Market Segmentation – By Country
Figure 3. North America Electric Insulator Market Overview
Figure 4. Pin Insulator Type Held the Largest Market Share in 2020
Figure 5. Ceramic Held the Largest Market Share in 2020
Figure 6. Utilities End User Held the Largest Market Share in 2020
Figure 7. The US was the Largest Revenue Contributor in 2020
Figure 8. North America– PEST Analysis
Figure 9. North America Electric Insulator Market– Ecosystem Analysis
Figure 10. Expert Opinion
Figure 11. North America Electric Insulator Market: Impact Analysis of Drivers and Restraints
Figure 12. North America Electric Insulator Market – Revenue and Forecast to 2028 (US$ million)
Figure 13. North America Electric Insulator Market Revenue Share, By Product Type (2020 and 2028)
Figure 14. North America Shackle Insulator: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 15. North America Pin Insulator: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 16. North America Suspension Insulator: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 17. North America Other Product Types: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 18. North America Electric Insulator Market Revenue Share, By Material Type (2020 and 2028)
Figure 19. North America Ceramic: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 20. North America Glass: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 21. North America Composite: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 22. North America Electric Insulator Market Revenue Share, By Application (2020 and 2028)
Figure 23. North America Transformer: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 24. North America Busbar: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 25. North America Cable: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 26. North America Switchgear: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 27. North America Surge Protection Device: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 28. North America Other Applications: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 29. North America Electric Insulator Market Revenue Share, By End User (2020 and 2028)
Figure 30. North America Utilities: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 31. North America Industries: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 32. North America Other End Users: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 33. North America: Electric Insulator Market, by Key Country – Revenue (2020) (USD Million)
Figure 34. North America Electric Insulator Market Breakdown, by Country, 2020 & 2028 (%)
Figure 35. US Electric Insulator Market, Revenue and Forecast to 2028 (US$ million)
Figure 36. Canada Electric Insulator Market, Revenue and Forecast to 2028 (US$ million)
Figure 37. Mexico Electric Insulator Market, Revenue and Forecast to 2028 (US$ million)
Figure 38. Impact of COVID-19 Pandemic in North America Countries
- 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
- TE Connectivity Ltd.
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