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The market participants, these days, are privileged to have an access to extensive data for analysing customers’ requirements. Collecting data is one thing; but putting it through proper analytics is something to ponder about. Though Artificial Intelligence (AI) doesn’t come across as a recent trend, it is turning out to be inevitable as of the year 2022 is concerned.
Machine learning and Artificial Intelligence do facilitate heavy lifting, thereby saving on money as well as downtime. AI, apart from enhanced efficiency, does make way for innovation in the kind of data that could be collected in research. The present scenario is such that “Emotion AI” does analyse ocular movements, facial expressions, voices, and various other non-verbal cues for figuring out the way a customer feels regarding something. These insights do act as complementary thing to customer survey, or even replace if precision is the priority.
Composite Line Post Insulators Market Forecast and CAGR
According to research estimates, the Composite Line Post Insulators market is projected to expand between 5% and 7% CAGR during the 2021 to 2031 assessment period. The Composite Line Post Insulators market is anticipated to observe moderate growth rate in the forecast period on the back of ageing grid infrastructure overhaul process, coupled with increasing integration of T&D lines and renewable technologies into grid infrastructure.
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With flexible production being in demand, autonomous handling systems and robots are expected to adapt to changing requirements faster. Besides, those moving around with “domain+” skills would be on the top of the recruiters’ agenda.
Augmented reality solutions are being asked for IoT functionality is capable of tracking and evaluating production quotas, expanding control rooms, and creating various models related to predictive maintenance. Industry 4.0 workforce would, indeed, be complementing robotics. Persistence Market Research is endowed with expertise herein in the form of consultants and analysts.
What is Driving Demand for Composite Line Post Insulators?
Composite Line Post insulators is a High Voltage (HV) type of insulator which is used in distribution and transmission line and designed based on the IEC, ANSI and other standards. This insulator is constructed from composite materials (silicone rubber) or one piece of porcelain. The post insulator is extensively used in different applications because of its excellent mechanical properties.
As composite line post insulators play crucial part in proper transmission and distribution, with increase in energy demand, line post insulator market is also anticipated to flourish. Increasing Energy demand from commercial and industrial utilities is one of the key factor driving the market, with increasing rate of electrification network architecture set to touch record high in coming years.
According to IEA, after falling by about 1% in 2020 due to the impacts of the Covid-19 pandemic, global electricity demand is set to grow by close to 5% in 2021 and 4% in 2022 – driven by the global economic recovery. Additionally ageing grid and refurbishment of existing grid infrastructure and increasing integration of renewable energy into grid infrastructure to increase cost effectiveness and efficiency will demand for this insulators in the forecast period.
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US Composite Line Post Insulators Market Growth Outlook
US is one of the top nations in energy consumptions and according to EIA, in 2019, the average annual electricity consumption for a U.S. residential utility customer was 10,649 kilowatt-hours (kWh), an average of about 877 kWh per month.
The US has been known to record a higher rate of power blackouts than any other developed country. The cost of these blackouts to American firms is estimated to be over USD 150 billion per year. 75% of transmission lines and transformers are 25 years old or older, according to the US Department of Energy, owing to which US government is planning to invest large sum to upgrade grid infrastructure and this will significantly impact the market.
APAC Demand Potential for Composite Line Post Insulators
According to U.S. Energy Information Administration (EIA) the world energy consumption will grow by nearly 50% between 2018 and 2050. Most of this growth comes from countries that are not in the Organization for Economic Cooperation and Development (OECD), and this growth is focused in regions where strong economic growth is driving demand, particularly in Asia.
It is estimated that APAC will observe very significant growth rate in the forecast period. Since APAC has world’s top two populated countries i.e. China and India respectively. The energy demand will increase tremendously and so will demand for composite line post insulators.
Who are the Key Manufacturers and Suppliers of Composite Line Post Insulators?
Some of the leading manufacturers and suppliers of
- Hitachi ABB
- TE Connectivity
- IVEP
- a.s.
- ENSTO
- Hunan Yangdong Porcelain Insulators and Electric Co. Ltd
- NGK INSULATORS LTD.
- WINNING ELECTRICAL CO.
- LIMITED
- AIZ
- Others.
Many leading manufacturers are large scale power system manufactures and have agreements and tie-ups with federal and state governments for grids and other related systems for upgrading energy infrastructure.
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