South America Electric Insulator Market
The SAM region includes various well-established economies such as Brazil and Argentina. The growth of the electric insulator market across the region can be attributed to several transmission and distribution projects in the region. According to the Global Transmission Report of 2021, in Argentina, there is an ongoing construction of the interconnection project of transmission systems associated with the Yacyretá hydroelectric power project. Similarly, there is another ongoing project of the Silvânia–Trindade C1 line and Associated Transmission Network Project in Brazil. Additionally, there is an interconnection project of a 500-km high voltage direct current (HVDC) line connecting the power grids of Colombia and Panama. Therefore, with the multiple ongoing transmission and distribution projects, the demand for electric insulators is increasing. The region also has several manufacturers of electric insulators such as GAMMA Insulator (Corona Group),0 PPC Santana, and Global Insulator Group. These manufacturers are offering different kinds of electric insulators including shackle insulators, pin insulators, and suspension insulators. This is also helping in the growth of the electric insulator market in the region. Due to the COVID-19 pandemic, the demand for electric insulators has decreased across the region. According to the Statista data 2020, around 23% of the decline in electricity demand has been observed in Argentina and around 26% in Peru, both in March. However, with the release of lockdown measures and the opening of factories and offices, the electricity demand will slowly increase in countries such as Brazil, Argentina, and Peru.
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.
Strategic insights for the South America Electric Insulator provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 782.67 Million |
| Market Size by 2028 | US$ 1,151.02 Million |
| Global CAGR (2021 - 2028) | 5.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
The geographic scope of the South America Electric Insulator refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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. Many developing countries across the region are focusing on industrialization growth. In region, the government across the countries are focusing on developing industries under the “Make in Country’ program. It is a major national program designed to facilitate investment, foster innovation, enhance skill development, protect intellectual property, and build best-in-class manufacturing infrastructure in the country. The focus of the program is on 25 sectors, including automobiles, automobile components, aviation, biotechnology, chemicals, construction, defense manufacturing electrical machinery, electronic systems, food processing, IT & BPM, leather, media and entertainment, mining, oil and gas, pharmaceuticals, ports and shipping, railways, renewable energy, roads and highways, space, textile and garments, thermal power, tourism and hospitality, and wellness. Similarly, the development and growth of the industrial and manufacturing industry are being catalyzed by an attractive ecosystem consisting of industrial cities, well-developed infrastructure, high-quality utility supplies, and a well-established logistics network. Therefore, with the growing industrialization in developing countries, the demand for electric insulators will increase across SAM region.
In terms of product type, the pin insulator segment accounted for the largest share of the SAM electric insulator market in 2020. In terms of material type, the ceramic segment held a larger market share of the SAM electric insulator market in 2020. In terms of application, the transformer segment held a larger market share of the SAM electric insulator market in 2020. Further, the utilities segment held a larger share of the SAM electric insulator market based on end user in 2020.
A few major primary and secondary sources referred to for preparing this report on the SAM electric insulator market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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; and TE Connectivity Ltd.
The South America Electric Insulator Market is valued at US$ 782.67 Million in 2021, it is projected to reach US$ 1,151.02 Million by 2028.
As per our report South America Electric Insulator Market, the market size is valued at US$ 782.67 Million in 2021, projecting it to reach US$ 1,151.02 Million by 2028. This translates to a CAGR of approximately 5.7% during the forecast period.
The South America Electric Insulator Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Electric Insulator Market report:
The South America Electric Insulator Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Electric Insulator Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Electric Insulator Market value chain can benefit from the information contained in a comprehensive market report.
Office No. 1011, First floor, Farena Corporate Park, Magarpatta-Mundhwa road, Pune - 411028, Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For South America Electric Insulator Market
