The North America electric insulator market is expected to grow from US$ 2,774.37 million in 2021 to US$ 3,983.90 million by 2028; it is estimated to grow at a CAGR of 5.3% from 2021 to 2028.
The US, Canada, and Mexico are economies in North America. Growing electricity demand is expected to escalate the market in coming years. According to the one Foundation website, the power consumption is estimated to reach 1,894.7 TWh by 2022, only in the US. 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. 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 North America region. Other factors such as growing industrialization in countries such as Mexico is also expected to surge the North America electric insulator market growth.
In case of COVID-19, North America is among the worst-hit regions by the pandemic. The US, Canada, and Mexico have witnessed a significant rise in the number of COVID-19 infected patients. COVID-19 has negatively impacted manufacturing businesses in the region in four critical areas, such as supply chain/operations, workforce, 2020 investments, and product offering. In the first nine months, overhead costs, including expenses for sales, research & development (R&D), and administration of various providers fell adversely, due to severe measures taken during the pandemic. The North American market suffered a loss in the year 2020 owing to the high number of COVID-19 cases, specifically in the US. Such as, there is a decline in the power consumption of about -3.9% from past year in 2020. However, in 2021, after the uplifting of lockdowns and ongoing vaccination processes, the electricity demand in commercial and industrial areas are recovering slowly. As in US, the commercial sector demand remained around 5% in the first quarter of 2021.
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 North America electric insulator market. The North America electric insulator market is expected to grow at a good CAGR during the forecast period.
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North America Electric Insulator Market Segmentation
North America Electric Insulator Market – By Product Type
- Shackle Insulator
- Pin Insulator
- Suspension Insulator
- Other Product Types
North America Electric Insulator Market – By Material Type
- Ceramic
- Glass
- Composite
North America Electric Insulator Market – By Application
- Transformer
- Busbar
- Cable
- Switchgear
- Surge Protection Device
- Other Applications
North America Electric Insulator Market – ByEnd User
- Utilities
- Industries
- Other End Users
North America Electric Insulator Market, by Country
- US
- Canada
- Mexico
North America 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.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Electric Insulator Market – By Product Type
1.3.2 North America Electric Insulator Market – By Material Type
1.3.3 North America Electric Insulator Market – By Application
1.3.4 North America Electric Insulator Market – By End User
1.3.5 North America Electric Insulator Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Electric Insulator Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Electric Insulator Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Electricity Demand
5.1.2 Increasing Industrialization in Several Countries
5.2 Market Restraints
5.2.1 Change in Raw Material Prices
5.3 Market Opportunities
5.3.1 Surging Railway Infrastructure Development
5.4 Future Trends
5.4.1 Rising Trend of Smart Cities and Smart Grids
5.5 Impact Analysis of Drivers and Restraints
6. Electric Insulator Market – North America Analysis
6.1 North America Electric Insulator Market Overview
6.2 North America Electric Insulator Market –Revenue and Forecast to 2028 (US$ million)
7. North America Electric Insulator Market Analysis – By Product Type
7.1 Overview
7.2 North America Electric Insulator Market Breakdown, By Product Type, 2020 and 2028
7.3 Shackle Insulator
7.3.1 Overview
7.3.2 Shackle Insulator: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
7.4 Pin Insulator
7.4.1 Overview
7.4.2 Pin Insulator: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
7.5 Suspension Insulator
7.5.1 Overview
7.5.2 Suspension Insulator: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
7.6 Other Product Types
7.6.1 Overview
7.6.2 Other Product Types: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
8. North America Electric Insulator Market Analysis – By Material Type
8.1 Overview
8.2 North America Electric Insulator Market Breakdown, By Material Type, 2020 and 2028
8.3 Ceramic
8.3.1 Overview
8.3.2 Ceramic: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
8.4 Glass
8.4.1 Overview
8.4.2 Glass: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
8.5 Composite
8.5.1 Overview
8.5.2 Composite: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
9. North America Electric Insulator Market Analysis – By Application
9.1 Overview
9.2 North America Electric Insulator Market Breakdown, By Application, 2020 and 2028
9.3 Transformer
9.3.1 Overview
9.3.2 Transformer: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
9.4 Busbar
9.4.1 Overview
9.4.2 Busbar: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
9.5 Cable
9.5.1 Overview
9.5.2 Cable: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
9.6 Switchgear
9.6.1 Overview
9.6.2 Switchgear: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
9.7 Surge Protection Device
9.7.1 Overview
9.7.2 Surge Protection Device: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
9.8 Other Applications
9.8.1 Overview
9.8.2 Other Applications: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
10. North America Electric Insulator Market Analysis– By End User
10.1 Overview
10.2 North America Electric Insulator Market Breakdown, By End User, 2020 and 2028
10.3 Utilities
10.3.1 Overview
10.3.2 Utilities: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
10.4 Industries
10.4.1 Overview
10.4.2 Industries: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
10.5 Other End Users
10.5.1 Overview
10.5.2 Other End Users: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
11. North America Electric Insulator Market – Country Analysis
11.1 Overview
11.1.1 North America Electric Insulator Market Breakdown, by Country
11.1.1.1 US Electric Insulator Market, Revenue and Forecast to 2028
11.1.1.1.1 US Electric Insulator Market Breakdown, By Product Type
11.1.1.1.2 US Electric Insulator Market Breakdown, By Material Type
11.1.1.1.3 US Electric Insulator Market Breakdown, By Application
11.1.1.1.4 US Electric Insulator Market Breakdown, By End User
11.1.1.2 Canada Electric Insulator Market, Revenue and Forecast to 2028
11.1.1.2.1 Canada Electric Insulator Market Breakdown, By Product Type
11.1.1.2.2 Canada Electric Insulator Market Breakdown, By Material Type
11.1.1.2.3 Canada Electric Insulator Market Breakdown, By Application
11.1.1.2.4 Canada Electric Insulator Market Breakdown, By End User
11.1.1.3 Mexico Electric Insulator Market, Revenue and Forecast to 2028
11.1.1.3.1 Mexico Electric Insulator Market Breakdown, By Product Type
11.1.1.3.2 Mexico Electric Insulator Market Breakdown, By Material Type
11.1.1.3.3 Mexico Electric Insulator Market Breakdown, By Application
11.1.1.3.4 Mexico Electric Insulator Market Breakdown, By End User
12. North America Electric Insulator Market- COVID-19 Impact Analysis
12.1 North America
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Merger and Acquisition
13.4 New Development
14. Company Profiles
14.1 Hitachi ABB Power Grids Group
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Aditya Birla Insulators
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 General Electric Company
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Hubbell Incorporated
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 MacLean-Fogg Company
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 NGK Insulators, Ltd.
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 PFISTERER Holding AG
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 SEVES Group
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Siemens AG
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 TE Connectivity Ltd.
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Word Index
LIST OF TABLES
Table 1. North America Electric Insulator Market – Revenue and Forecast to 2028 (US$ million)
Table 2. North America Electric Insulator Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 3. US Electric Insulator Market, Revenue and Forecast to 2028 – By Product Type (US$ million)
Table 4. US Electric Insulator Market, Revenue and Forecast to 2028 – By Material Type (US$ million)
Table 5. US Electric Insulator Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 6. US Electric Insulator Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 7. Canada Electric Insulator Market, Revenue and Forecast to 2028 – By Product Type (US$ million)
Table 8. Canada Electric Insulator Market, Revenue and Forecast to 2028 – By Material Type (US$ million)
Table 9. Canada Electric Insulator Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 10. Canada Electric Insulator Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 11. Mexico Electric Insulator Market, Revenue and Forecast to 2028 – By Product Type (US$ million)
Table 12. Mexico Electric Insulator Market, Revenue and Forecast to 2028 – By Material Type (US$ million)
Table 13. Mexico Electric Insulator Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 14. Mexico Electric Insulator Market, Revenue and Forecast to 2028 – By End User (US$ million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Electric Insulator Market Segmentation
Figure 2. North America Electric Insulator Market Segmentation – By Country
Figure 3. North America Electric Insulator Market Overview
Figure 4. Pin Insulator Type Held the Largest Market Share in 2020
Figure 5. Ceramic Held the Largest Market Share in 2020
Figure 6. Utilities End User Held the Largest Market Share in 2020
Figure 7. The US was the Largest Revenue Contributor in 2020
Figure 8. North America– PEST Analysis
Figure 9. North America Electric Insulator Market– Ecosystem Analysis
Figure 10. Expert Opinion
Figure 11. North America Electric Insulator Market: Impact Analysis of Drivers and Restraints
Figure 12. North America Electric Insulator Market – Revenue and Forecast to 2028 (US$ million)
Figure 13. North America Electric Insulator Market Revenue Share, By Product Type (2020 and 2028)
Figure 14. North America Shackle Insulator: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 15. North America Pin Insulator: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 16. North America Suspension Insulator: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 17. North America Other Product Types: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 18. North America Electric Insulator Market Revenue Share, By Material Type (2020 and 2028)
Figure 19. North America Ceramic: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 20. North America Glass: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 21. North America Composite: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 22. North America Electric Insulator Market Revenue Share, By Application (2020 and 2028)
Figure 23. North America Transformer: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 24. North America Busbar: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 25. North America Cable: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 26. North America Switchgear: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 27. North America Surge Protection Device: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 28. North America Other Applications: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 29. North America Electric Insulator Market Revenue Share, By End User (2020 and 2028)
Figure 30. North America Utilities: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 31. North America Industries: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 32. North America Other End Users: Electric Insulator Market Revenue and Forecast to 2028 (US$ million)
Figure 33. North America: Electric Insulator Market, by Key Country – Revenue (2020) (USD Million)
Figure 34. North America Electric Insulator Market Breakdown, by Country, 2020 & 2028 (%)
Figure 35. US Electric Insulator Market, Revenue and Forecast to 2028 (US$ million)
Figure 36. Canada Electric Insulator Market, Revenue and Forecast to 2028 (US$ million)
Figure 37. Mexico Electric Insulator Market, Revenue and Forecast to 2028 (US$ million)
Figure 38. Impact of COVID-19 Pandemic in North America Countries
- 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.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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