Report Code: A12097 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Composite Insulators Market
Request Now !Insulators are used in electrical equipment to support and isolate electrical wires while also preventing electricity from flowing through them. Silicone rubber is the most used polymeric insulating material for high-voltage equipment. As an alternative to ceramic and glass insulators, composite insulators have been introduced. They are well-known and acceptable goods in HV after approximately 30 years of launching the first type of composite insulators, making design modifications, and using materials. In certain parts of the world, composite or polymeric insulators are utilized for high-voltage transmission and distribution lines. They are widely used to replace ceramic hollow insulators on a one-to-one basis. They have also become a popular alternative for extremely high voltages and harsh/seismic situations.
COVID-19 Impact analysis
COVID-19 has had a wide range of consequences, including a ban on all indoor/outdoor events, flight cancellations, travel bans, and restaurant closures; a state of emergency has been declared in over forty countries; a massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about the future. Because of the COVID-19 epidemic, consumer behavior has shifted across the board. On the other hand, industries would have to rearrange their strategy to keep up with shifting market demands. All this has affected the composite insulators market.
Top Impacting Factors
The global market size will be boosted by rising investments to upgrade aged grid networks across developed countries, as well as the fast use of smart grid technology. Increased spending on grid network modernization, combined with government initiatives to replace problematic infrastructure in order to reduce power outages, will propel the industry forward. The market will rise as more focus is placed on the expansion of grid networks, as well as substantial investments by regulatory bodies in the development of efficient electric infrastructure. The high voltage composite insulators business will benefit from the expansion of transmission infrastructure to provide safe and dependable power throughout developing nations. Utilities' significant investments in long-distance electricity transmission will further invigorate the industry environment. Lightweight, durability, high hydrophobicity, and vandalism resistance are just a few of the important attributes that have contributed to greater product usage in HV lines.
Market Trends
Key Benefits of the Report
Composite Insulators Market Report Highlights
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