Hollow Core Insulator Market: Structure and Overview of Key Industry

Posted by Sakshi Mishra on January 7th, 2020

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. 

hollow core insulator market

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Significant growth in the power transmission sector across the world is driving the global hollow core insulator market

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.

Hollow Core InsulatorMarket: Scope of the Report

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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Sakshi Mishra

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Sakshi Mishra
Joined: July 22nd, 2019
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