Electrical Isolator Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
Electrical Isolator Market Overview
Electrical isolation is required to prevent electric circuit from damaging and eliminate shock hazards in case of electric failure. Electrical isolator which is a mechanical device is used to disconnect any electrical component from the system. Electrical isolator switches are featured on both the end of circuit breaker and they are used to open an electric circuit in the no-load condition so that the circuit breaker repair can be done easily without any risk.
Electrical isolator market is anticipated to grow with lower-single digit CAGR during the forecast period (2020 - 2030). Owing to factors like huge investment in the energy sector by developing countries. For instance, in its annual budget for fiscal year 2020-21 Government of India allocated around US$ 3 billion for power sector. However, expected global economic slowdown due to COVID-19 pandemic is expected to impact the global electrical isolator market.
Electrical Isolator Market Dynamics
Global electrical isolator market is mainly driven by the increasing spending in the energy sector and at the same time substantial upsurge in the power grids. For instance, in 2018, Government of China initiated building 1.1 million volt transmission system that will deliver electricity from 12 large power plants to its citizens over 2,000 miles. Similarly, governments of other developing countries are also investing huge money in order to build power grid in their region. Therefore demand for the electrical isolator is expected to remain high during the forecast period (2020 – 2030).
Another factor that supports growth of the global electrical isolator market is increasing demand of electric distribution. As global population is increasing there has been significant upsurge in the urbanization causing expansion of residential complexes, and at the same time rapid industrialization has created significant demand of power supply in newer geographies. Which is further anticipated to create high opportunity for the electrical isolator manufacturers globally.
Global economic slowdown due to coronavirus pandemic electrical isolator market is expected to witness stagnancy till 2021 end. However, from 2022 the market will regain traction.
Electrical Isolator Market Segmentation
For a better understanding, global electrical isolator market is being studied under type, location of power system & Region.
By type of electrical isolator, global electrical isolator market is segmented as –
By location of power system, global electrical isolator market is segmented as –
Electrical Isolator Market Regional Overview
Fast growing economies and rapid urbanization and increasing investment in the power sector in higher as well as lower middle income countries in Asia Pacific (including East Asia, South Asia & Oceania) is the most considerable phenomenon which makes the region most suitable market for electrical isolator. In addition, Governments of the countries in Asia Pacific have initiated incentive programs such as Made in China and Make in India to encourage global manufacturers to setup their production bases in the region. As a result leading electric and electronics goods manufacturers are shifting their production bases in Asia Pacific due economic labour cost and availability of the raw material. Which has created substantial demand for electrical isolator in the Asia Pacific region. However, due to comparatively high impact of the COVID-19 pandemic, North America and Europe are expected to witness slow growth for next couple of years in the global electrical isolator market.
Electrical Isolator Market Competitive Landscape
The global electrical isolator market is moderately consolidated in nature with few major players serving to majority customer base. Leading manufacturers are launching new products with upgraded features in order to maintain their position in the global market. Some of the prominent manufacturers of the electrical isolator are Eaton, Siemens, Mitsubishi Electric, Positron, Dairyland Electrical, Schneider Electric, Orient Electric, Toshiba International Corporation, GIPRO GmbH, KINTO Electric, Omniflex, Renu Electronics, Pertronic Industries
The research report presents a comprehensive assessment of the electrical isolator market and contains deep insights, facts, historical and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to electrical isolator market segments such as by electrical isolator unit, location of power system & region.
The Electrical Isolator Market report covers exhaustive analysis on:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on electrical isolator market segments and geographies.
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