Asia-Pacific Electrical Bushing Market Size (2024 - 2029)

The Asia-Pacific electrical bushing market is poised for growth, driven by increasing power demand and the expansion of grid infrastructure. The market has rebounded to pre-pandemic levels, with applications in railways and smart grids further propelling its expansion. However, challenges such as the potential for bushing failure, which can lead to significant asset loss and safety concerns, may pose constraints. The shift towards renewable energy in the region is expected to create new opportunities, particularly in India, which is anticipated to experience substantial demand.

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Market Size of Asia-Pacific Electrical Bushing Industry

Asia-Pacific Electrical Bushing Market - Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 4.40 %
Market Concentration Medium

Major Players

Asia-Pacific Electrical Bushing Market Major Players

*Disclaimer: Major Players sorted in no particular order

APAC Electrical Bushing Market Analysis

The Asia-Pacific electrical bushing market is expected to register at a CAGR of more than 4.4% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. Presently, the market has reached pre-pandemic levels.

  • Over the medium term, factors such as growing power demand and the expansion and upgradation of grid structure are expected to drive the electrical bushings market in the forecast period. Applications like railways and smart grids are anticipated to create a need for electrical bushings and drive the market further.
  • On the flip side, electrical bushings are subjected to failure and can result in the loss of costly assets/equipment with 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 world, especially Asia-Pacific, is moving towards renewable energy, which requires new transmission and distribution networks. With this, ample opportunities would be generated in the future for electrical bushing market players.
  • India is expected to witness significant demand in the Asia-Pacific electrical bushing market during the forecast period.

APAC Electrical Bushing Industry Segmentation

Electrical bushings are essential components for a wide range of electrical equipment, such as power transformers, shunt reactors, circuit breakers, and capacitors. These seemingly simple devices perform the critical function of carrying current at high voltage through equipment enclosures. They perform this function by providing an insulating barrier between the live conductor and the metallic (conducting) body of the electrical apparatus (which is at ground potential).

The Asia-Pacific electrical bushing market is segmented by type, application, and geography. By type, the market is segmented into oil-impregnated paper, resin-impregnated paper, and other types. By application, the market is segmented into transformers, switchgear, and other applications. The report also covers the market size and forecasts for the electrical bushing market across major countries in the Asia-Pacific region. For each segment, the market sizing and forecasts have been done based on revenue (USD Billion).

Type
Oil Impregnated Paper
Resin Impregnated Paper
Other Types
Application
Transformers
Switchgears
Other Applications
Geography
China
India
Japan
Rest of Asia-Pacific
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Asia-Pacific Electrical Bushing Market Size Summary

The Asia-Pacific electrical bushing market is poised for growth, driven by increasing power demand and the expansion and modernization of grid infrastructure. The market, which experienced a downturn due to the COVID-19 pandemic, has rebounded to pre-pandemic levels. The shift towards renewable energy sources necessitates the development of new transmission and distribution networks, creating significant opportunities for market players. Applications in railways and smart grids are expected to further propel the demand for electrical bushings. However, challenges such as the potential for bushing failure, which can lead to costly asset loss and safety concerns, may act as restraints on market growth.

India is anticipated to be a key contributor to the growth of the Asia-Pacific electrical bushing market, supported by its expanding power transmission and distribution networks and the integration of renewable energy technologies. The country's continuous increase in transformer capacity, particularly in high voltage and direct current systems, is expected to drive the demand for electrical bushings. Developments such as Hitachi Energy India's new manufacturing facility for advanced bushing technology are likely to enhance the market's prospects. The market is moderately fragmented, with major players including ABB Ltd., Siemens AG, Bharat Heavy Electricals Limited, Eaton Corporation PLC, and General Electric Company, all of which are poised to benefit from the region's growing energy infrastructure needs.

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Asia-Pacific Electrical Bushing Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Oil Impregnated Paper

      2. 2.1.2 Resin Impregnated Paper

      3. 2.1.3 Other Types

    2. 2.2 Application

      1. 2.2.1 Transformers

      2. 2.2.2 Switchgears

      3. 2.2.3 Other Applications

    3. 2.3 Geography

      1. 2.3.1 China

      2. 2.3.2 India

      3. 2.3.3 Japan

      4. 2.3.4 Rest of Asia-Pacific

Asia-Pacific Electrical Bushing Market Size FAQs

The Asia-Pacific Electrical Bushing Market is projected to register a CAGR of greater than 4.40% during the forecast period (2024-2029)

General Electric Company, ABB Ltd, Siemens AG, Eaton Corporation PLC and Bharat Heavy Electricals Limited are the major companies operating in the Asia-Pacific Electrical Bushing Market.

Asia-Pacific Electrical Bushing Report Snapshots

Asia-Pacific Electrical Bushing Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)