Stratview Research has published a new report titled “Hollow Core Composite Insulators Market” which is segmented by Application Type (Cable Terminations, Instrument Transformers, Circuit Breakers, Surge Arresters, Bushings, and Others), by Shed Material Type (HTV, LSR, and Others), by Voltage Type (Less than 300kV, 300kV-600kV, and More than 600kV), by Process Type (Pultrusion, and Filament Winding), and by Region (North America, Europe, Asia-Pacific, and Rest of The World).
As per the study, the market is estimated to grow at an excellent rate over the next five years to reach an estimated value of US$ 443.9 million in 2025.
The market is driven by-
Increasing primary energy consumption,
growing interest in high-performance and safer power equipment, and
the gradual shift from porcelain to composite insulators
A noteworthy trend that is creating a disrupting environment in the market is a sheer interest in EHV and UHV apparatus, which, in turn, has created a positive impact on the demand for hollow core composite insulators as they are preferably used in such apparatus.
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the industry’s market dynamics. It provides a thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
By Application Type
The market is segmented based on the application type as cable termination, instrument transformer, circuit breaker, surge arrester, bushing, and others. Circuit Breaker is expected to remain the largest segment of the market during the forecast period; however, surge arrester is likely to grow at the highest rate during the same period.
By Shed Material Type
Based on the shed material type, the market is segmented into HTV, LSR, and others. HTV is likely to remain the largest shed material segment of the market during the forecast period. HTV insulators are generally cost-effective and are widely used in the Asian market, especially in the Chinese market. On the contrary, LSR sheds are preferably used in the European market and dominate the region.
By Voltage Type
Hollow core composite insulators are used in various applications with a wide range of voltage ratings. The market is segmented based on voltage type into less than 300kV, 300kV-600kV, and more than 600kV. The rating has been designed to meet the application and specific requirements. More than 600kV is likely to grow at the highest rate in the market during the forecast period, owing to the growing interest in EHV and UHV apparatus with voltage ratings of 720 kV, 800 kV, etc.
Which Region is expected to remain the largest market?
Asia-Pacific is projected to remain the largest market for hollow core composite insulators during the forecast period. China is the growth engine of the region’s market and has been very active for the past few years in using hollow core composite insulators. The attractiveness of the Chinese market has led to the expansion of the manufacturing footprint in the country by leading players, such as TE Connectivity. Europe is also likely to offer sizeable market opportunities in the market. Various leading players, such as Reinhausen Power Composites, TE Connectivity, and ABB Ltd., have manufacturing bases for hollow core composite insulators in Europe.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, which will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players active in the Hollow Core Composite Insulators Market:
Henkel AG & Company KGaA
The 3M Company
Toray Advanced Composites
Magnolia Advanced Materials Inc.
Delo Industrial Adhesives
Sika Advanced Resins
Scott Bader Inc.
Key questions answered by the report.
What is the projected CAGR for revenue from the Hollow Core Composite Insulators Market during the forecast period?
What would the market be valued at by 2025?
What is a major driving factor for the growth of the market?
Which region accounted for the largest revenue share in the Hollow Core Composite Insulators Market?
Which are the major market players?
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