Market Size of Europe Electrical Bushing Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 2.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Electrical Bushing Market Analysis
The European electrical bushing market is expected to grow with a CAGR of around 2% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. It has now reached pre-pandemic levels.
- Over the short term, factors such as growing power demand (particularly after the Russia-Ukraine conflict) in the region and the expansion and upgradation of grid structure are expected to drive the European electrical bushings market.
- On the other hand, electrical bushings are subjected to failure. They can result in the loss of costly assets/equipment with long replacement times resulting in financial losses. Thus, untimely bushing failure can restrain the electrical bushing market.
- Nevertheless, the increasing demand for new transmission and distribution networks due to the growing trend toward renewable power plants creates tremendous opportunities for the electrical bushings market.
- Eastern Europe is expected to dominate the market due to the high demand for electricity transmission networks in the current scenario.
Europe Electrical Bushing Industry Segmentation
Electrical bushings are the essential components for a wide range of electrical equipment like power transformers, circuit breakers, shunt reactors, and capacitors. They carry the current at high voltage through equipment enclosures.
The European 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 market across major countries. For each segment, the market sizing and forecasts are calculated based on revenue (in USD billion).
| By Type | |
| Oil Impregnated Paper | |
| Resin Impregnated Paper | |
| Other types |
| By Application | |
| Transformers | |
| Switchgears | |
| Other Applications |
| By Geography | |
| Germany | |
| France | |
| United Kingdom | |
| Eastern Europe | |
| Rest of Europe |
Europe Electrical Bushing Market Size Summary
The European electrical bushing market is poised for growth, driven by increasing power demand and the expansion of grid infrastructure, particularly in the wake of the Russia-Ukraine conflict. Despite the challenges posed by potential bushing failures, which can lead to significant financial losses, the market is buoyed by the rising need for new transmission and distribution networks, especially with the shift towards renewable energy sources. Eastern Europe is expected to lead the market due to its substantial electricity transmission projects, necessitated by the recent geopolitical tensions and the subsequent need to revitalize disrupted power grids.
In the broader context, electrical bushings play a crucial role in transformers by facilitating high-voltage current transmission while providing insulation. The European region has seen a steady increase in power generation, prompting ongoing modernization and upgrades of electricity grids. Projects like the Elia Grid Substation in Belgium exemplify the region's commitment to enhancing its infrastructure. Eastern European countries, including Romania, Poland, and Hungary, are particularly active in developing their electricity transmission networks, with significant investments planned to upgrade existing systems and integrate renewable energy. This regional focus on infrastructure development is expected to result in a substantial share of the electrical bushings market being concentrated in Eastern Europe. The market remains fragmented, with key players such as General Electric Company, ABB Ltd, Siemens AG, Eaton Corporation PLC, and Gipro GmBH actively participating.
Europe 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 Market Drivers
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1.5.2 Market Restraints
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1.6 Supply Chain Analysis
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1.7 Industry Attractiveness - 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 Substitutes 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 By 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 By 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 By Geography
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2.3.1 Germany
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2.3.2 France
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2.3.3 United Kingdom
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2.3.4 Eastern Europe
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2.3.5 Rest of Europe
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Europe Electrical Bushing Market Size FAQs
What is the current Europe Electrical Bushing Market size?
The Europe Electrical Bushing Market is projected to register a CAGR of greater than 2% during the forecast period (2024-2029)
Who are the key players in Europe Electrical Bushing Market?
General Electric Company, ABB Ltd., Siemens AG, Eaton Corporation Plc. and Gipro GmBH are the major companies operating in the Europe Electrical Bushing Market.
