Electric Insulator Market Set for Explosive Growth
Global Electric Insulator Market Size is valued at $12.8 Billion in 2024 and is forecast to register a growth rate (CAGR) of 6.9% to reach $21.8 Billion by 2032.?
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This growth is primarily driven by Refurbishment of Existing Grid Networks and Growing Expenditure toward Modernization of Electrical Infrastructure. In March 2023,Solvay , a global market leader in specialty materials, has announced the introduction of a new high-and flame retreatants grade in the polymer portifolia. ABB (Switzerland) GE (United States) Siemens (Germany) Toshiba (Japan) Aditya Birla (India) Alstom S.A (France) Bharat Heavy Electricals Limited (India) Hubbell Incorporated (United States) Seves Group (Italy) Dalian Yilian Technology Co. Ltd. (China)
-High Adoption of Ceramic Electrical Insulator and Increasing Dependency on Renewable Energy Sources
-Refurbishment of Existing Grid Networks and Growing Expenditure toward Modernization of Electrical Infrastructure
-Fluctuating Prices of Raw Material
-Increasing Grey Market Products of Low Quality
-Rising Demand in Smart Grid Projects in Developing Countries
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