the market revenue growth is due to the rising demand for dependable electricity transmission and distribution infrastructure in developing countries. The global hollow core insulator market size was USD 5.0 Billion in 2022 and is expected to reach USD 8.45 Billion in 2032, and register a revenue CAGR of 6% during the forecast period. Increasing need for energy transmission and distribution infrastructure is a major factor driving the market revenue growth. With its great mechanical strength and electrical insulating qualities, hollow core insulators are utilized in a variety of applications, including switchgear, transformers, and circuit breakers. The market revenue growth is also being driven by increase in demand for Renewable Energy sources such as wind and Solar Energy.
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Major Companies:
Major companies in the global hollow core insulator market include:
- ABB Ltd.
- Siemens AG
- General Electric Company
- Toshiba Corporation
- Crompton Greaves Limited
- Lapp Insulators Group
- Fosterer Holding AG
- Tibia Electric Apparatus Stock Co. Ltd.
- CTC Global Corporation
- Saves Group
The market is highly consolidated with a few major players accounting for the majority of the market share.
The competition is intense with companies focusing on developing innovative products and expanding their market reach through strategic collaborations and partnerships.
Technological advancements in the manufacturing process and materials used for insulators are also driving the competition in the market.
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Hollow Core Insulator Market Segmentation:
By Type Outlook:
- Porcelain Hollow Core Insulator
- Glass Hollow Core Insulator
- Composite Hollow Core Insulator
- Others
By Voltage Outlook:
- High Voltage
- Medium Voltage
- Low Voltage
By Application Outlook:
- Transformers
- Circuit Breakers
- Surge Arresters
- Others
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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