PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1620510
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1620510
North America Electric Insulators Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 to 2032
North America Electric Insulators Market, valued at USD 793.1 million in 2023, is projected to grow at 5.1% CAGR between 2024 and 2032. Key factors driving this growth include government initiatives, increasing electricity demand, and grid modernization efforts aimed at developing reliable infrastructure to reduce power outages. As authorities push for more resilient power systems, these factors contribute to the expansion of the electric insulators market in the region. Government policies and increasing investments in power network expansion further enhance the market landscape. For example, the U.S. Department of Energy launched a grid enhancement program in August 2024, dedicating USD 2.2 billion to strengthen electrical infrastructure across 18 states.
This initiative targets critical upgrades such as expanding transmission capacity, integrating renewable energy, and fortifying the grid against climate-related risks. The composite insulator segment is expected to exceed USD 650 million by 2032, driven by the growing use of advanced insulator materials and ongoing efforts to replace outdated electrical components in transmission and distribution networks. The continuous expansion and modernization of transmission infrastructure, coupled with a focus on minimizing power disruptions, are key factors shaping the positive outlook for composite insulators. The high-voltage electric insulators market in North America is poised for substantial growth due to increased investments in upgrading and developing high-voltage electrical systems.
Supportive government policies aimed at strengthening the power grid, along with significant investments from utility companies to expand high-capacity energy transmission networks, enable long-distance electricity transmission, and complement the market growth. In the U.S., the electric insulators market is anticipated to surpass USD 850 million by 2032. This growth is attributed to a rise in power generation capacity, heightened demand for reliable electricity, and favorable regulations promoting the expansion of power generation infrastructure. Additionally, the surge in investments to develop existing grid networks and expand energy infrastructure in remote regions is expected to positively impact industry growth.
| Market Scope | |
|---|---|
| Start Year | 2023 |
| Forecast Year | 2024-2032 |
| Start Value | $793.1 Million |
| Forecast Value | $1.2 Billion |
| CAGR | 5.1% |
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market definitions
- 1.2 Base estimates & calculations
- 1.3 Forecast calculation
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid
- 1.4.2.2 Public
Chapter 2 Industry Insights
- 2.1 Industry ecosystem analysis
- 2.2 Regulatory landscape
- 2.3 Industry impact forces
- 2.3.1 Growth drivers
- 2.3.2 Industry pitfalls & challenges
- 2.4 Growth potential analysis
- 2.5 Porter's analysis
- 2.5.1 Bargaining power of suppliers
- 2.5.2 Bargaining power of buyers
- 2.5.3 Threat of new entrants
- 2.5.4 Threat of substitutes
- 2.6 PESTEL analysis
Chapter 3 Competitive Landscape, 2024
- 3.1 Strategic outlook
- 3.2 Innovation & sustainability landscape
Chapter 4 Market Size and Forecast, By Material, 2021 - 2032, (USD Million)
- 4.1 Key trends
- 4.2 Ceramic/porcelain
- 4.3 Glass
- 4.4 Composite
Chapter 5 Market Size and Forecast, By Voltage, 2021 - 2032, (USD Million)
- 5.1 Key trends
- 5.2 High
- 5.3 Medium
- 5.4 Low
Chapter 6 Market Size and Forecast, By Application, 2021 - 2032, (USD Million)
- 6.1 Key trends
- 6.2 Cables & transmission lines
- 6.3 Switchgears
- 6.4 Transformers
- 6.5 Bus bars
- 6.6 Others
Chapter 7 Market Size and Forecast, By Product, 2021 - 2032, (USD Million)
- 7.1 Key trends
- 7.2 Pin insulators
- 7.3 Suspension insulators
- 7.4 Shackle insulators
- 7.5 Other insulators
Chapter 8 Market Size and Forecast, By End Use, 2021 - 2032, (USD Million)
- 8.1 Key trends
- 8.2 Residential
- 8.3 Commercial & industrial
- 8.4 Utilities
Chapter 9 Market Size and Forecast, By Rating, 2021 - 2032, (USD Million)
- 9.1 Key trends
- 9.2 <= 11 kV
- 9.3 > 11 kV to <= 22 kV
- 9.4 > 22 kV to <= 33 kV
- 9.5 > 33 kV to <= 72.5 kV
- 9.6 > 72.5 kV to <= 145 kV
- 9.7 > 145 kV to <= 220 kV
- 9.8 > 220 kV to <= 400 kV
- 9.9 > 400 kV to <= 800 kV
- 9.10 > 800 kV to <= 1,200 kV
- 9.11 > 1,200 kV
Chapter 10 Market Size and Forecast, By Installation, 2021 - 2032, (USD Million)
- 10.1 Key trends
- 10.2 Distribution
- 10.3 Transmission
- 10.4 Substation
- 10.5 Railways
- 10.6 Others
Chapter 11 Market Size and Forecast, By Country, 2021 - 2032, (USD Million)
- 11.1 Key trends
- 11.2 U.S.
- 11.3 Canada
- 11.4 Mexico
Chapter 12 Company Profiles
- 12.1 Gamma Insulator
- 12.2 Hitachi Energy
- 12.3 Hubbell
- 12.4 KUVAG
- 12.5 Lapp Insulators US
- 12.6 Maclean Power Systems
- 12.7 MAR-BAL
- 12.8 Meister International
- 12.9 Newell Porcelain
- 12.10 NGK Insulators
- 12.11 Peak Demand
- 12.12 PPC Austria Holding
- 12.13 Pfisterer Holding
- 12.14 Sediver
- 12.15 Siemens Energy
- 12.16 TE Connectivity
- 12.17 The Gund Company
- 12.18 Victor Insulators
