Press release
Global Composite Insulators Market Overview 2024 by Global Leaders TE Connectivity, CECEC Nanjing Electric Co.,ltd., Siemens, SEVES, INAEL Electrical Systems
The U.S. composite insulators market is anticipated to grow over 6% by 2024. Enhanced efforts by regulatory authorities for the rehabilitation and development of electric grid will boost the industry growth. Spending proposals and investments to strengthen the grid system will further propel the industry growth. According to the World Energy Outlook, the total transmission investments in the U.S. for the replacement of old transmission lines have increased from USD 3.1 billion in 2015 to USD 3.7 billion by 2017.Request for a sample Copy @ https://www.gminsights.com/request-sample/detail/3029
Recently, Hitachi, one of the largest technology companies in the world, announced that it will be offering deviant innovative energy solutions by combining ABB’s world-class power grids products, software, systems and service solutions with its own advanced digital technology. Apparently, Hitachi has acquired 80.1% stake in ABB’s power grids business, a move that indicates the future of power grids which are increasingly leaning towards the inclusion of smart solutions to support a technological revolution that is about to be witnessed in the coming decades. With the evolution of power grids, the composite insulators market is anticipated to expand exponentially over 2018-2025.
The global composite insulators market is expected to gain major traction on account of the fact that the world is becoming increasingly reliant on electric power for everyday activities as well as for reducing carbon emissions. Therefore, the electric grid is garnering increased government attention as it has proved to be one of the basic blocks supporting the economy. As refurbishment of older power grids is gaining importance and expansion of newer grid systems is becoming a necessity for development of a country, it is expected that the composite insulators market will witness significant expansion over 2018-2025.
Surging electricity demand to meet the energy needs of the growing population coupled with rising measures toward the refurbishment and expansion of power systems will drive the composite insulators market growth. Lack of effective grid infrastructure across developing nations along with the growing demand for capacity expansion will further fuel the industry outlook.
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Shackle composite insulators market will witness growth on account of their extensive applicability in low-voltage distribution lines. The ability of these insulators to reduce the possibility of breakage when heavily loaded and to meet the electricity demand in a cost-effective manner by evenly distributing the load will favor the product adoption.
Key participants in the composite insulators market
• ABB
• GE
• Siemens
• SEVES
• GIPRO Insulators and Bushings
• CECEC Nanjing Electric Co.,ltd.
• TE Connectivity
• Zhengzhou Orient Power Co., Ltd
• INAEL Electrical Systems
• Spark Insulators
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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