Electric Insulator Market Trends, Global Analysis with Focus on Opportunities, Growth Potential & Forecast 2027
As per Market Research Future (MRFR), the global electric insulator market is projected to grow at 5.88% CAGR from 2018 to 2023 (forecast period). The report illustrates and discusses the influence of the outbreak of COVID-19 on the global electric insulator market, including future opportunities and challenges, drivers, and risks. The electric insulator is a type of material that resists the flow of electric current. It is commonly used in all electric devices in transmission and distribution lines. There are primarily three types of electric insulators, such as pin insulators, suspension and shackle, among others. With growing investment in transmission and distribution networks, there is a strong demand for electric insulators in the power industry. As per the OECD, the cumulative investment in the power sector from 2017 to 2040 will amount to approximately USD 5.9 trillion for transmission and USD 2.1 trillion for distribution networks. The demand for electric i...