The report, now available on ASDReports, recognizes the following companies as the key players in the Global Electric Insulator Market: ABB, Aditya Birla Nuvo, NGK Insulators, Siemens and Toshiba.
Other Prominent Vendors in the market are: BHEL, Krempel, Maclean-Fogg, PFISTERER, Seves and WT Henley.
Commenting on the report, an analyst said: “Smart grids play a significant role in catering to the rising power needs effectively, especially with regard to distribution of electricity. Smart grids enable the integration of distributed energy resources (DERs) such as renewable energy power sources. Conventional energy networks, particularly electricity, are undergoing many changes due to growing contribution from renewable sources and increased demand for electricity, owing to electrification of transport. Electric insulators are essentially deployed in the electrical systems of smart grids. Development in the global smart grid market facilitates more demand for electric insulators.”
According to the report, the development and expansion of T&D networks worldwide have a positive impact on the growth of the global electric insulator market. Owing to rising demand for electricity, governments of various countries such as Germany, China, and India are directing their initiatives to build a strong power infrastructure. These initiatives will fuel the enhancement of power generation and T&D infrastructure and facilitate market growth.
Further, the report states that availability of the raw materials play a crucial role in the production of insulators, and has a direct impact on market growth.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.