South America Electric Insulator Market Key Players and Forecast by 2028

The SAM electric insulator market is expected to grow from US$ 782.67 million in 2021 to US$ 1,151.02 million by 2028; it is estimated to grow at a CAGR of 5.7% from 2021 to 2028.

Brazil and Argentina are major economies in SAM. Increasing electricity demand across the region is expected to surge the SAM electric insulator market. The growing population demands more electricity. With the increase in the electricity demand across residential, commercial, and industrial applications, more transmission and distribution networks are needed to provide electricity across the region. The energy sector is likely to account for 24% of capital expenditure over FY 2019–2025. Moreover, it is also estimated that electricity’s share of the total energy demand is expected to be more than double in 2050, driven by substantial electrification in the transport, buildings, and manufacturing sectors. Therefore, the increasing demand for electricity and rising investments in transmission and distribution networks are boosting the need for electric insulators across SAM region.

In case of COVID-19, SAM is highly affected specially Brazil followed by Peru, Chile, Colombia, and Ecuador, among others. The SAM countries have been witnessing growth in several industries over the past few years. Industries such as automotive, aerospace, and equipment manufacturing have experienced a fair growth rate; however, the COVID-19 outbreak has created a significant turmoil among the manufacturers across the industries in the region. The Government of SAM has taken an array of actions to protect its citizens and contain the COVID-19 spread. Further, due to the COVID-19 impact, the demand of electric insulator has decreases across the region. Such as, according to the Statista data 2020, around 23% of declined in the electricity has been observed in Argentina and around 26% declined Peru, both in March month. However, with the uplifting of lockdowns, and opening of factories and offices, the electricity demand increases slowly in countries such as Brazil, Argentina, and Peru, among others. It helps in the growth of electric insulator market in the region.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the SAM electric insulator market. The SAM electric insulator market is expected to grow at a good CAGR during the forecast period.

SAM Electric Insulator Market Segmentation        

SAM Electric Insulator Market – By Product Type

• Shackle Insulator
• Pin Insulator
• Suspension Insulator
• Other Product Types

SAM Electric Insulator Market – By Material Type

• Ceramic
• Glass
• Composite

SAM Electric Insulator Market – By Application

• Transformer
• Busbar
• Cable
• Switchgear
• Surge Protection Device
• Other Applications

SAM Electric Insulator Market – ByEnd User

• Utilities
• Industries
• Other End Users

SAM Electric Insulator Market, by Country

• Brazil
• Argentina    
• Rest of SAM

SAM Electric Insulator Market -Companies Mentioned

• Aditya Birla Insulators
• General Electric Company
• Hitachi ABB Power Grids Group
• Hubbell Incorporated
• MacLean-Fogg Company
• NGK Insulators, Ltd.     
• PFISTERER Holding AG
• SEVES Group
• Siemens AG  
• TE Connectivity Ltd. 

South America Electric Insulator Report Scope