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Need for Renewable Resources for Electricity to Power Up the Sales of Disc Insulators by 4.4% through 2032
Fact.MR's latest report presents a thorough analysis of disc insulators market by providing significant details of growth drivers, prevailing trends, market restraints, and emerging opportunities across various regional pockets. Besides this, it provides information about growth opportunities across various segments including material, type, application, and region.
NEW YORK , Aug. 3, 2022 /PRNewswire/ -- The global disc insulators market size is estimated to be valued at US$ 3.45 billion in 2022. Furthermore, with increasing demand for electricity across the world, the overall sales of disc insulators are slated to grow at a CAGR of 4.4% between 2022 and 2032.
Disc insulators are disc shaped insulation materials made up of high-grade wet processes like brown-green glazed. These insulators are mostly used in high voltage transmission and distribution lines which are designed for fulfilling the required electro mechanical strength. They provide insulation as well as support to the line conductors in suspension and tension systems.
Rise in production and consumption of electricity due to rapidly growing population, increasing penetration of digitalization, and expansion of industrial sector is expected to boost the growth of disc insulators market during the forecast period.
Similarly, increasing sales of consumer electronics worldwide, rapid shift towards renewable energy resources, and advancements in technology are expected to propel the demand for disc insulators market during the assessment period.
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Furthermore, rising government initiatives and investments for developing electricity transmission and distribution sector will create lucrative opportunities for disc insulator manufacturers during the next decade.
Regionally, North America and Europe will collectively account for around 48% share in the global disc insulators market in 2022. Growth in these markets is driven by rising consumption of electricity, expansion of renewable energy sector due to government investments, and heavy presence of leading disc insulator manufacturers.
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Leading disc insulators manufacturers are increasingly investing in research and development to create better and advanced disc insulators. Besides this, they are adopting strategies like new product launches, partnerships, acquisitions, and mergers to improve their global presence.
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More Valuable Insights on Disc Insulators Market
In the latest study, Fact.MR offers a 360-degree view of the global disc insulators market for the forecast period of 2022 to 2032. The report also highlights key factors such as recent developments and growth drivers influencing sales in the disc insulators market through detailed segmentation as follows:
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Key Questions Covered in the Disc Insulators Market Report
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