Hollow Core Insulator Market - Increasing Requirements On Quality of Composite Hollow Core Insulators For Substation Equipment Applications

According to a new market report pertaining to the hollow core insulator market, published by Transparency Market Research, the global hollow core insulator market is expected to reach US$ 4,959.2 Mnby2026, expanding at a CAGR of 4.9% from 2018 to 2026. According to the report, the global market will continue to be influenced by a range of macroeconomic and industry-specific factors. Asia Pacific will continue to be at the forefront of global demand, with the market in the region growing at a CAGR of 5.8% through 2026.

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Global transmission investment continues to be strongdriven by the replacement of aging infrastructure, reliability improvements, and growth in renewable energy as well asnew natural gas power. Countries across the world are also incorporating advanced monitoring systems, thereby aiding the energy grid flexibility and resiliency, further adding to the overall cost of power transmission investment. This, in turn is anticipated to directly facilitate the growth ofhigh-quality insulator products in the power sector including hollow core insulators.

The global hollow core insulator market is broadly segmented by material, voltage rating,and application. By material, ceramichollow core insulatorscomprised the highest market share in 2017. However, the composite type is expected to register highest growth over the forecast period. High performance under contamination with reduced creepage distances,low maintenance requirement, and favoring safety considerations are the major factors responsible for its increasing adoption. By voltage rating, above 230 kV segment is expected to be the most lucrative owing to increasing government spending on development of ultra-high voltage transmission lines particularly in Asia Pacific and Europe among other regions. Furthermore, based on application, the current & voltage transformer, and cable termination & bushing are collectively expected to comprise approximately 50% of the global hollow core insulator market by 2026.

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The research study includes profiles of leading companies operating in the global hollow core insulator market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. Key players in thehollow core insulator market includes PPC Insulators Austria GmbH, Allied Insulators Group Limited, Lapp Insulators GmbH, CTC Insulator Co., Ltd., ABB Ltd, TE Connectivity Ltd, MaschinenfabrikReinhausen GmbH, ZPE ZAPAL S.A, saver S.p.A, and CERALEP SN among others. Companies are focusing on expanding their business throughproduct developmentand partnerships with several end-use industries.

Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations

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This release was published on openPR.