Market Size of North America Electrical Bushing Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Electrical Bushing Market Analysis
The North American electrical bushing market is expected to register a CAGR of over 5% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. It has now reached pre-pandemic levels.
- Over the medium term, the increasing investments, power demand, and the expansion and upgradation of grid structure are expected to drive the growth of the market studied.
- On the other hand, technical drawbacks and untimely bushing failure are expected to hamper the growth of the North American electrical bushing market during the forecast period.
- Nevertheless, new transmission and distribution networks are likely to create lucrative growth opportunities.
- The United States dominates the market and is likely to witness the highest CAGR during the forecast period. This growth is attributed to the increasing investments in the expansion of transmission and distribution networks, coupled with supportive government policies in the country.
North America Electrical Bushing Industry Segmentation
The electric bushing is a hollow electrical insulator that allows an electrical conductor to pass safely through a conducting barrier, such as the case of a transformer or circuit breaker, without making electrical contact with the bushing.
The North American 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 across major countries in the region. For each segment, the market sizing and forecasts are provided based on revenue (USD billion).
| By Type | |
| Oil Impregnated Paper | |
| Resin Impregnated Paper | |
| Other Types |
| By Application | |
| Transformers | |
| Switchgears | |
| Other Applications |
| By Geography | |
| United States | |
| Canada | |
| Rest of North America |
North America Electrical Bushing Market Size Summary
The North American electrical bushing market is poised for growth, driven by increasing investments 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 demand for electrical bushings is expected to rise as power infrastructure develops globally, with new transmission and distribution networks offering significant growth opportunities. However, challenges such as technical drawbacks and untimely bushing failures may impede market progress. The United States, in particular, is set to lead the market, supported by substantial investments in transmission and distribution networks and favorable government policies.
In the United States, the power industry has seen significant advancements through the integration of renewable technologies and the expansion of power transmission and distribution networks. This growth is anticipated to drive the demand for electrical bushings, as increased power generation necessitates further grid development. Projects like offshore wind energy installations and solar farms in states such as California and Texas highlight the need for robust transmission lines and distribution systems. Additionally, initiatives like the Transmission Facilitation Program underscore the commitment to enhancing transmission infrastructure. The market is moderately fragmented, with key players including General Electric Company, ABB Ltd, Siemens Energy AG, Eaton Corporation PLC, and Nexans SA, all contributing to the competitive landscape.
North America 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 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 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 United States
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2.3.2 Canada
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2.3.3 Rest of North America
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North America Electrical Bushing Market Size FAQs
What is the current North America Electrical Bushing Market size?
The North America Electrical Bushing Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in North America Electrical Bushing Market?
General Electric Company, ABB Ltd., Siemens Energy AG, Eaton Corporation PLC and Nexans SA are the major companies operating in the North America Electrical Bushing Market.
