ID: MRFR/E&P/5346-HCR | 111 Pages | Author: Anshula Mandaokar | June 2023
Electrical Bushing Market share is expected to reach 3.53 Billion by 2027, with a CAGR of 3.5% during the forecast period 2022-2030.
The global electrical bushing market size is expected to rise at a CAGR of 3.5%, with a significant value during the projected year 2022-2030.
All the factors such as the growing power demand and the expansion and the upgradation of the grid structure are expected to drive the electrical bushings market in the forecast period. Applications like railways and smart grids are expected to create a need for electrical bushings and drive the market further. However, the electrical bushings are subjected to failure. They can result in the loss of costly assets or equipment with the long replacement times and cause issues related to personnel safety. Thus, untimely bushing failure can act as a restraint for the electrical bushing market.
The electrical bushings in smart transformers carry current at high voltage through the equipment enclosures and provide an insulating barrier between the live conductor and the electrical apparatus metallic body. The electrical bushings market size will witness growth due to the expansion of the transmission and the distribution network, along with the rising demand for electrical equipment. In addition, the surging renewable energy penetration coupled with the growing focus on research and development activities will positively influence the industry dynamics. The ever increasing demand for the long-distance transmission network in line with the rapid infrastructural expansion will drive the electrical bushings market size.
The key players of the global Electrical bushings market are ABB Group, TRENCH Group (SIEMENS), General Electric, Eaton, Elliot Industries, Gipro GMBH, RHM International, Toshiba, Webster-Wilkinson, Siemens (Germany), Nexans (France) are among others.
The global Electrical bushing market has been segmented based on insulation type, voltage type, end-user type and region. On the basis of insulation type, the market is segmented as liquid-insulated bushing, oil-impregnated paper bushing, combined insulation bushing, gas-impregnated bushing and others. oil-impregnated paper bushing segment had been dominating the market due to high voltage capability. On the basis of voltage type, the market is segmented as Low voltage bushings, High voltage bushings. High voltage bushings had a larger market share in the year 2017 and is expected to dominate the global market during the forecast period as high-power rating and stability in transmission. On the basis of End-User, the market is segmented as Utilities, Industries and others. Utilities segment dominates the global Electrical bushing market as it has multiple uses in transformers and circuit breaker.
Many countries are now investing in grid expansion projects in order to increase the distribution capacity, which can be the driving factor for the global electrical bushing market. Technological developments in the transmission sector has increased over the period has resulted growth in this market. Moreover, use of ANSI/IEEE Standard, so the composition and design are very effective in high voltage transmission and grid distribution which is driving factor for global market. The main concern in oil-impregnated paper (OIP) bushing is the risk of fire and moisture in enviroment which can be major concern. Non-standardized dimensional requirements in terms of ease of maintenance and strategic spare requirements is major restrain in electrical bushing market.
In most of the countries with the increase in focus of electricity generation the power sector to remain prominent during the forecast period. Asia-pacific region held the highest market share and expect to dominate the market during the forecast period 2018-2023. Expansion of rail projects in China has gain boost in economic growth in transformer bushing market. Asian countries are also gaining momentum in electricity infrastructure has resulted growth in electrical bushing market.
Electrical bushings are insulated devices which allow electric conductor to pass safely through grounded conductor barrier such as transformer or circuit breaker. Electrical bushings are mostly made of porcelain, Paper and resin insulation. These bushes maily reduces the stress in the electric field thus producing no harm to the electric insulator. Bushes are capable to withstand high voltage which is created when it passes through ground i.e electric field . Basically bushing are divided on the basis of voltage, for the voltage which are upto 100kv low voltage bushing i.e porcelain bushings are used and voltage upto 800kv high voltage bushings i.e condenser bushings are capable to protect the high voltage extention lines from current leakage and eletrical spark.
To strengthen the power supply in urban and growing in rural areas, Indian transformer bushing market is anticipated to gain healthy growth due to support by government in electric infrastructure. In Latin America, Brazil is foremost electricity market and in the coming years electric power sector is expected to receive significant investments during the forecast period. Europe and North America region are likely to trigger the demand for transformer bushings as increase in renewable energy projects.
|Market Size||2030: Significant Value|
|CAGR||3.5% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Insulation Type, Voltage Type and End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||ABB Group, TRENCH Group (SIEMENS), General Electric, Eaton, Elliot Industries, Gipro GMBH, RHM International, Toshiba, Webster-Wilkinson, Siemens (Germany), Nexans (France)|
|Key Market Opportunities||New product launches and R&D amongst major key players|
|Key Market Drivers||Many countries are now investing in grid expansion projects in order to increase the distribution capacity Technological developments in the transmission sector|
The electrical bushing market can surge at 3.5% CAGR in the review period.
The electrical bushing market can touch high valuation by the end of the study period.
Elliot Industries, RHM International, Gipro GMBH, Webster-Wilkinson, and Toshiba are some key players of the global market of electrical bushing.
The high rate of installation of gas impregnated paper brush can spur the electrical bushing market growth.
The electrical bushing market health in North America is expected to improve due to high investment made by governments in electric infrastructure.
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