HV Bushing Market Research Report - Global Forecast till 2030

HV Bushing Market Research Report: Information by Type (Condenser Type and Non-Condenser Type), Installation (15kV-170kV, 170kV-245kV, and 245kV & Above), Installation (Indoor and Outdoor), End-Use Industry (Industrial, Utilities, and Others), and Region (North America, Europe, Asia-Pacific, the Middle East & Africa, and South America)-Forecast till 2030

ID: MRFR/E&P/2616-HCR | November 2022 | Region: Global | 111 Pages         

HV Bushing Market

HV Bushing Market share is projected to reach USD 900.12 Million by 2025 with ~3.02% CAGR during the forecast period.

Segmentation

By Type Condenser Type Non-Condenser Type
By Voltage Rating 15kV-170kV 170kV-245kV 245kV & Above
By Installation Indoor Outdoor
By End-Use Industry Industrial Utilities Others

Key Players

  • General Electric (US)
  • Siemens (Germany)
  • ELANTAS GmbH (Germany)
  • Crompton Greaves (India)
  • Webster-Wilkinson Ltd. (UK)
  • Warco Inc. (US)
  • ABB Ltd. (Switzerland)
  • Hubbell Incorporated (US)
  • Meister International LLC (US)
  • The H-J Family Of Companies (US)

Drivers

  • Increasing need for reliable electric supply
  • Subsequent investment in transmission and distribution (T&D) network
  • Growing demand for electrical equipment
  • Increasing spending on electrical infrastructure
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The HV bushing market was evaluated at USD 680.12 million in 2019. The market will reach a value of USD 900.12 Million and a 3.02 % CAGR during the forecast period between 2022 to 2030.


HV Bushing Market Scenario


HV Bushing or high voltage can reduce the electrical impedance between two points. It can even reduce the amount of current by controlling surges and fluctuations in the power supply. The growing demand for utilities mainly drives the market. The utility industry highly requires devices for insulating and protecting electrical wiring systems. This propels the need for an efficient device integrated with low-loss properties. Moreover, the higher electricity consumption rate due to the rapid urbanization leads to power outages globally. This factor results in greater opportunities for the market for operational efficiency and reduced outage time.


There is a demand for high voltage bushing in different industrial verticals such as mining, oil, gas, renewable power generation sectors, etc. It is also used in remote locations where the electricity supply is not available due to higher investment costs of cables for long distances. The substitute or alternative energy source usage, such as solar power, will be an effective solution for supplying reliable electrical circuits meeting stringent safety requirements. These growth factors will lead the market to form a strong competitive base.


The major factors driving the growth of the global HV Bushing market include the growing demand for electrical equipment and increasing spending on electrical infrastructure. Moreover, the increasing need for reliable electric supply and subsequent investment in transmission and distribution (T&D) network is likely to drive the HV bushing market.


HV Bushing Market Key Players


The key players operating in the global HV bushing market are General Electric (US), Siemens (Germany), ELANTAS GmbH (Germany), Crompton Greaves (India), Webster-Wilkinson Ltd. (UK), Warco, Inc. (US), ABB Ltd. (Switzerland), Hubbell Incorporated (US), Meister International, LLC (US), and The H-J Family Of Companies (US).


Recent Developments


April 2022



  • Radiant Enterprises has manufactured electrical insulation products for the railway sector, like insulators and bushings up to 72kV for the surging of arresters and disconnectors.


November 2021



  • Last year Power HV Inc., located at 403-6th Ave, received USD 62,000 for expanding its business. The company is known for manufacturing and selling electrical bushings and sensors.

  • Funding through IGP-Manitoba’s Innovation Growth Program will help the company produce new power transmission sensor prototypes and line bushing. Greg Nesbitt, MLA for Riding Mountain, said that the investment would help the Manitoba-based companies to build their businesses through the reduction of the risk factor associated with the development of innovative products. It will accelerate the growth and strengthen their financial position for secure funding in the future.


Key players in the global HV Bushing market such as General Electric, Siemens, and Crompton Greaves, and others are actively focusing on signing contracts, agreements, and expansions to supply HV bushings. For instance, in 2018, ABB signed a contract worth USD 40 million to upgrade high-voltage substation in Germany including the installation of 380kV gas-insulated switchgear, of which HV bushing is an important part. This is expected to propel the growth of the HV bushing market in Europe.


Additionally, according to T&D World, electric utilities are expected to invest USD 3.2 trillion globally in new and replacement of T&D infrastructure by 2026, of which HV bushing is a part. Several significant T&D projects are expected to take place in countries such as India and China, owing to the rising demand for reliable electricity while modernizing the grid. This would enhance the HV bushing as they are an integral part of T&D equipment, including transformer, switchgear, and other equipment. According to International Energy Agency (IEA), the US would need to invest USD 2.1 trillion by 2035 to modernize its grid infrastructure, including 579 GW of new generating capacity, and extensive refurbishment of the transmission network. Moreover, according to India Brand Equity Foundation (IBEF), infrastructure sector in India witnessed 91 mergers and acquisitions deals worth USD 5.4 million in 2017 and has a requirement of investment worth USD 777.73 billion in infrastructure by 2022, which would in turn increase the demand for efficient power system, driving the demand for HV Bushings and other electrical components.


HV Bushing Market Segmentation


The global HV bushing market has been segmented based on type, voltage rating, installation, end-use industry, and region.


Based on type, the global market has been divided into condenser and non-condenser. The condenser segment is expected to dominate the global market during the forecast period. This is because a condenser HV bushings are suitable for high voltage applications. The condenser bushings are used for high voltages such as 132kV, 220 kV, 400kV, and 800kV.


Based on voltage rating, the global HV Bushing market has been segmented into 15kV–170kV, 170kV–245kV, and 245kV & above. The 245kV & above segment is expected to dominate the global market because HV bushings within this particular voltage rating are used to connect overhead lines to transformers. Moreover, these bushings are shielded with an aluminum shroud, which avoids excess electrical stress in oil at the lower end cap and terminal connections.


Based on installation, the global market has been bifurcated into indoor and outdoor. The outdoor segment is estimated to register a higher growth rate during the forecast period. The global HV bushing market is expected to grow at ~3.02% CAGR during the forecast period.


On the basis of end-use, the global market has been segmented into industrial, utilities, and others. The utilities segment is estimated to register a higher growth rate during the forecast period owing to the centralized T&D network managed by utilities.


HV Bushing Market Regional Analysis:


On the basis of region, the HV bushing market has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.


Asia-Pacific is expected to be the largest and the fastest-growing market, by region, during the forecast period. This is due to the rapid industrialization and urbanization in China, Japan, India, and other Southeast Asian countries. China is likely to dominate Asia-Pacific in terms of market share and growth rate.


HV bushings are an integral part of an electrical network as they transport current at high voltage through a grounded barrier. HV bushings are used in transformers, switchgear, reactors, and other traction applications. HV bushings are generally available in the voltage range of 1 kV to 1,200 kV. HV bushings are categorized into condenser and non-condenser type. Condenser bushings provide significant dielectric strength and uniform voltage gradient while non-condenser brushings provide ceramic casing and adequate insulation to the conductor.


Intended Audience



  • HV bushing raw material suppliers

  • Electrical components manufacturers

  • Government and research organizations

  • Consulting companies in the power industry

  • Investment banks



Report Scope:

Report Attribute/Metric Details
  Market Size

  • 2025: USD 900.12 Million
  • 2030: Significant Value
  •   CAGR   3.02% CAGR (2022-2030)
      Base Year   2021
      Forecast Period   2022-2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Type, Installation and End-Use
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   General Electric (US), Siemens (Germany), ELANTAS GmbH (Germany), Crompton Greaves (India), Webster-Wilkinson Ltd. (UK), Warco, Inc. (US), ABB Ltd. (Switzerland), Hubbell Incorporated (US), Meister International, LLC (US), and The H-J Family Of Companies (US)
      Key Market Opportunities

  • Increasing need for reliable electric supply
  • Subsequent investment in transmission and distribution (T&D) network
  •   Key Market Drivers

  • Growing demand for electrical equipment
  • Increasing spending on electrical infrastructure


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    Frequently Asked Questions (FAQ) :

    The market will be valuing at USD 900.12 million by 2025.

    2019 to 2025 is the growth period of the market.

    The market’s CAGR is calculated to be ~ 3.02%.

    General Electric, Siemens, and Crompton Greaves are actively focusing on rising the market share.

    type, voltage rating, installation, end-use industry are the segments of the market.