Saudi Arabia Porcelain Electrical Insulator Market is calculated to grow at a higher CAGR during 2020-2027 | Size, Share, Trend & Forecast

Saudi Arabia Porcelain Electrical Insulator Market

The Saudi Arabia Porcelain Electrical Insulator Market is expected to grow at a robust CAGR over the forecast period (2020-2027).

For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/saudi-arabia-porcelain-electrical-insulator-market/

The factors driving growth of the Saudi Arabia Porcelain Electrical Insulator Market includes rising focus on using renewable sources of energy, expansion of the smart grid networks, developments in the transmission line projects, increase in Government's expenditure on the construction of smart cities and improvements in the living standards. According to the report published by International Trade Administration (ITA), the Ministry of Energy of Saudi Arabia is planning to spend around USD 293 billion on power and renewable energy projects and additional USD 38 billion for energy distribution by 2030, which will accelerate the market growth in the approaching years. Moreover, technological advancements in porcelain electrical insulators, growing consumption of electricity across Saudi Arabia, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, strategic alliances, and partnerships between key industry players, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.

However, growth of the Saudi Arabia Porcelain Electrical Insulator Market is hindered due to variations in the prices of raw materials.

The major players operating in the market are Seves Group, NGK Insulators Group, Hubbell Inc, LAPP Insulators LLC, ABB Ltd, Aditya Birla Group, General Electric Company, and Toshiba Corporation, among others.

Based on Voltage, the medium segment is predicted to grow at a significant CAGR during the forecast period

Increasing deployment of porcelain insulators in commercial and residential areas to support medium voltage range and rapid urbanization, are propelling the segment's growth.

Based on Application, the Transformer segment is projected to grow at a faster CAGR over the forecast period

Growing focus on real time monitoring of power networks and increasing concerns related to power thefts, and protection, are pushing growth of the segment.

Based on End-User, the Residential segment is anticipated to expand at a remarkable CAGR during the forecast period

As per the Saudi Arabia Porcelain Electrical Insulator Market Report, growing energy requirements in residential areas, rising focus on using clean sources of energy and establishment of renewable power plants, are some of the important factors augmenting the segment's growth.

Market Segmentation

Segmentation by Voltage

Low
Medium
High

Segmentation by Category

Bushing
Other Insulators

Segmentation by Application

Transformer
Cables
Switchgear
Busbar
Surge Protection Devices
Others

Segmentation by End-User

Utilities
Industries
Residential
Others

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