Market Size of Electrical Bushing Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.60 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Electrical Bushing Market Analysis
The electrical bushing market is expected to record a CAGR of more than 5.6% during the forecast period 2022-2027. The outbreak of COVID-19 in Q1 2020 negatively impacted the electric bushings market. Lockdown restrictions imposed by governments worldwide affected end-user demand, and electric construction and infrastructure projects were halted during Q1 of 2020. Additionally, disruptions in the supply chain and global shipping affected the production and the import and export of the electrical bushings market. 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. However, 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 transformer sub-sector is expected to dominate the market due to ongoing plans for grid development and upgradation.
The world is moving toward renewable energy, which requires new transmission and distribution networks. With this, ample opportunities would be generated in the future for electrical bushing market players.
Asia-Pacific is expected to dominate the market during the forecast period. The development of railways and the growing need for circuit breakers and switch gears in countries like China and India are expected to drive the market significantly.
Electrical Bushing Industry Segmentation
The electrical bushing market report includes:
| Type | |
| Oil Impregnated Paper | |
| Resin Impregnated Paper | |
| Other Types |
| Application | |
| Transformers | |
| Switchgears | |
| Other Applications |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle-East and Africa |
Electrical Bushing Market Size Summary
The electrical bushing market is poised for significant growth, driven by increasing power demand and the expansion and modernization of grid infrastructure. The market experienced setbacks due to the COVID-19 pandemic, which disrupted supply chains and halted construction projects. However, the shift towards renewable energy and the development of new transmission and distribution networks are expected to create ample opportunities for market players. The transformer sub-sector is anticipated to lead the market, supported by ongoing grid development plans. Despite the potential for bushing failure posing a challenge, the demand for electrical bushings in applications such as railways and smart grids is expected to propel market growth.
Asia-Pacific is projected to dominate the electrical bushing market, fueled by the development of railways and the increasing need for circuit breakers and switch gears in countries like China and India. The region's significant advancements in power transmission and distribution networks, along with the integration of renewable technologies, are driving the demand for electrical bushings. The market is moderately fragmented, with key players including General Electric Company, GAMMA Insulator Company, ABB Ltd, Siemens AG, and Eaton Corporation PLC. Collaborative efforts and investments in infrastructure, such as those by American Electric Power and Schneider Electric, further underscore the region's growth potential in the electrical bushing market.
Electrical Bushing Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Oil Impregnated Paper
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2.1.2 Resin Impregnated Paper
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2.1.3 Other Types
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2.2 Application
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2.2.1 Transformers
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2.2.2 Switchgears
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2.2.3 Other Applications
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2.3 Geography
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia-Pacific
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2.3.4 South America
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2.3.5 Middle-East and Africa
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Electrical Bushing Market Size FAQs
What is the current Electrical Bushing Market size?
The Electrical Bushing Market is projected to register a CAGR of greater than 5.60% during the forecast period (2024-2029)
Who are the key players in Electrical Bushing Market?
ABB Ltd, General Electric Company , Siemens AG , Eaton Corporation plc and GAMMA Insulator Company are the major companies operating in the Electrical Bushing Market.
