DUBLIN--(BUSINESS WIRE )--The "Electric Insulator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global electric insulator market was worth US$ 10.2 Billion in 2018
Electric insulators refer to materials that exhibit poor electrical conductivity due to the lack of free-flowing electric charge. When a source of electromotive force (EMF) is applied, they demonstrate characteristics like high resistivity and assist in efficiently concentrating the flow of the electric current.
Apart from this, they avert the current from flowing in the direction where it is not required. Some of the commonly used electric insulators include ceramic, glass, composite materials, air, rubber, plastic, wood, silk, paper, etc. They are generally used for coating wires, in electricity distribution networks and as dielectrics in capacitors.
One of the key functions of insulators is to offer protection against the hazardous effects of electricity, which makes them useful in electricity transmission and distribution (T&D) networks. Further, insulators find vast applications in different industries as a safety device on account of properties such as low thermal expansion and high dielectric strength.
Moreover, several developed economies are currently investing in the refurbishment of aging grid technology and establishing sustainable electrical networks for carrying electricity generated through renewable sources.
On the other hand, owing to the factors like rapid urbanization and technological developments, governments in the emerging economies are undertaking initiatives, such as smart grid vision and green energy corridors, to create reliable and efficient grid infrastructure. This is helping in ensuring that electricity reaches every corner of the country.
Looking forward, the market to reach a value of US$ 13.7 Billion by 2024, registering a CAGR of around 5% during 2019-2024.
Key Questions Answered in This Report:
5.10 Market Breakup by End Use Industry
13 Market Breakup by End Use Industry
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900