USD 2.47 billion
Electrical Bushings Market Size, Share, Growth Analysis, By Product Type(Oil Impregnated Paper (OIP), Resin Impregnated Paper (RIP), Others), By Insulation(Porcelain, Polymeric, Glass), By Voltage(Medium voltage, High Voltage, Extra-High Voltage), By Application(Transformer, Switchgear, Others), By End User(Utilities, Industries, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQSG20D2018 |
Region:
Global |
Published Date: April, 2024
Pages:
165
|Tables:
144
|Figures:
78
Electrical Bushings Market Insights
Electrical Bushings Market size was valued at USD 2.47 billion in 2019 and is poised to grow from USD 2.58 billion in 2023 to USD 3.33 billion by 2031, growing at a CAGR of 3.8% in the forecast period (2024-2031).
Expanding power interest, interests in the sustainable area, and extension of transmission lines are the central point driving the Electrical Bushing market worldwide. The research provides up-to-date Electrical Bushing market analysis of the current market landscape, latest trends, drivers, and overall market environment.
Electrical bushings are basic parts in different electrical gear, including power transformers that satisfy the significant job of moving high voltage flow into hardware housings. They fill this need by going about as a separator between the live transmitter and the electrical gear's metallic (directing) body (which is at ground potential). Electrical bushings in transformers transport high-voltage flow through gear nooks while additionally going about as a cover between the live channel and the electrical contraption's metallic (leading) body. They help in bringing down the gamble of fire, and on account of a serious transformer breakdown, this seals the transformer.
The electrical bushings market share will be propelled by government attempts to reduce aggregate technical and commercial (AT&C) losses, as well as an increasing electrification index across developing economies. In addition, governmental actions to close the electrical demand supply imbalance will complement the industry environment, as will increased awareness of infrastructure safety and reliability.
US Electrical Bushings Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Switchgear
Fastest Growth
Switchgear
Growth Rate
3.8% CAGR
Global Electrical Bushings Market 2021-2028 ($ Mn)
Country Share for Asia-Pacific Region- 2021 (%)
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Electrical Bushings Market Segmental Analysis
The global electrical bushings market is segmented based on Product Type, Insulation, Voltage, Application, End User and Region. Based on Product Type it is categorized into: Oil Impregnated Paper (OIP), Resin Impregnated Paper (RIP), Others. Based on Insulation it is categorized into Porcelain, Polymeric, Glass. On the basis of Voltage it is segmented into Medium, High, Extra High Voltage. Based on Application it is bifurcated into Transformer, Switchgear, Others. Based on the End User it is sub segmentes into Utilities, Industries, Others. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Electrical Bushings Market Analysis by Product Type
The electrical bushing market, is portioned by product type, into oil impregnated paper, tar impregnated paper, and others. The others fragment incorporates gum fortified paper, gum impregnated manufactured, SF6, and half. The oil impregnated paper fragment overwhelmed the market because of expanded electrical execution, minimal expense, and high dielectric strength. The resin impregnated paper portion is projected to develop at the quickest rate during the conjecture time frame because of their ability to endure seismic movement, high mechanical strength, no gamble of fire blast, light weight, simple transportation and establishment, and less establishment time.
Electrical Bushings Market Analysis by Application
Based on application, the electrical bushing market has been sectioned into transformer, switchgear, and others. The others portion incorporates circuit breakers, generators, reactors, and wall applications. The transformer section held the biggest share and is supposed to be the quickest developing business sector from 2022 to 2028.
Expanding interests in T&D organizations and rising establishment of electrical gear like transformers, switchgears, and circuit breakers are the main considerations driving the transformer section during the figure time frame.
Electrical Bushings Market Analysis by End-User
In view of end-user, the electrical bushing market has been fragmented into utilities, businesses, and others. The others portion incorporates rail lines and metro, renewables, and the business area. The utilities section held the biggest share in the market and is supposed to be the quickest developing business sector from 2022 to 2028. The utilities section income is additionally expected to enroll most elevated CAGR over the estimate. Bushings are the main part of transformers and switchgears as they control the electric field and diminish electrical burdens. Numerous utilities are updating or adding T&D limit, accordingly, helping the interest for electrical bushings
Electrical Bushings Market Analysis by Voltage
Based on voltage type, the high voltage bushings fragment is supposed to represent significant offer regarding income in the worldwide market. The high voltage bushings section income is likewise expected to enroll most noteworthy CAGR over the coming years.
Global Electrical Bushings Market by Application, 2021 (%)
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Electrical Bushings Market Regional Insights
Asia-Pacific has fundamentally fostered its power industry with the development of force transmission and conveyance organizations and the consideration of sustainable advances in its power age blend. Factors like expanded power utilization, rising interests in the railroad area, a developing spotlight on sustainable power age, and modernization and extension of T&D networks are driving the market in Asia Pacific.
As per the BP Statistical Review of World Energy 2021, in 2022, the Asia-Pacific region came to 1,322 Terawatt-hrs of sustainable power age limit, encouraging interest for network improvement, including transformers, shift gears, and others. This development is supposed to go on from here on out and will drive the requirement for electrical bushings.Asia-Pacific is additionally driving in environmentally friendly power and has a few continuous brilliant network improvement projects, provoking critical interest for electrical bushings in the region.
The Middle East and Africa, and Latin America are in a developing stage, so there is a consistent development of the Electrical Bushings market in the region.
Global Electrical Bushings Market By Geography, 2021 - 2028
- Largest
- Fastest
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Electrical Bushings Market Dynamics
Electrical Bushings Market Driver
- Expanding interest for electrical bushing across different end-use application areas like transformer, switchgear, and electrical switch is a main consideration assessed to drive development of the worldwide market throughout the upcoming years.
- Moreover, developing interest for the electrical hardware from different enterprises, for example, renewables and rail routes is one more variable expected to help income development of the worldwide market over the course of the following couple of years.
Electrical Bushings Market Restraint
- Factors like maturing power frameworks, disappointment of condenser centers because of unlocked plans, dampness entrance, lightning strike, broken association between ground sleeve and spine, electrical flashover, short circuited capacitance-reviewed layer, destructive sulfur, and a messed up tap association are primary drivers of electrical bushing disappointment.
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Electrical Bushings Market Competitive Landscape
Key industries in the Electrical Bushings market are focusing their endeavors on developing their shopper base in new nations. To further develop their portion of the overall industry and benefit, these organizations are depending on key cooperative drives. The key market players are HSP (U.S), BHEL (India), ABB (Switzerland), GE (US), Siemens (Germany), Eaton (Ireland), Nexans (France), Crompton Greaves (India), Megger Group (UK), Wipro (India), Polycast International (Canada), H-J International (India), RHM International (U.S), Elliot (NY, U.S), Webster-Wilkinson (UK).
Electrical Bushings Market Top Players Company Profiles
- ABB Ltd.
- Siemens AG
- General Electric Company
- CG Power and Industrial Solutions Limited
- Hubbell Incorporated
- Eaton Corporation PLC
- Mitsubishi Electric Corporation
- Nexans S.A.
- TE Connectivity Ltd.
- Bharat Heavy Electricals Limited
- GIPRO GmbH
- Alstom S.A.
- Schneider Electric SE
- TRENCH Group
- Toshiba Corporation
- Cooper Industries, LLC
- RHM International, Inc.
- Pfisterer Holding AG
- WEG Industries
- Boddingtons Electrical Ltd
Electrical Bushings Market Recent Developments
- In May 2022, Hitachi's new transformer component manufacturing facility in Vadodara, Gujarat, will be the first of its kind in India, producing resin impregnated paper brushings.
- In December 2021, it sold ABB DOGDE Mechanical Power Transmission, which was its greatest publicly reported sale.ABB has purchased 40 businesses, including seven in the last five years. Private equity firms made a total of 12 purchases. It has also sold eight assets. ABB's largest acquisition to date was Baldor Electric, which it paid $4.2 billion for in 2010.
Electrical Bushings Key Market Trends
- Both the use of HVDC-based transmission and UHV AC voltage levels have grown during the past several years. Environmental requirements for the construction of oil-free, low- or SF6-free high voltage substations are also creating new opportunities for the industry.
- Power grid infrastructure is expanding globally, providing opportunities for producers and suppliers of electric bushings. Because the electrical bushings market is a byproduct of the transformers sector, it grows as well.
Electrical Bushings Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, by product type, the Oil Impregnated segment has the largest revenue share of the market.On the basis of voltage, the high voltage sub segment held the largest market share of the Global Electrical Bushing Market. Application-wise, the Transformer has dominated the market with a market share of more than 35% in 2021. By End User segment, the Utilities is the most dominated sub segment in the Global Electrical Bushing Market. Region-wise, the Asia Pacific region accounted highest market share more than 27% in 2021.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.47 billion |
| Market size value in 2031 | USD 3.33 billion |
| Growth Rate | 3.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Electrical Bushings Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Electrical Bushings Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Electrical Bushings Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Electrical Bushings Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Electrical Bushings Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Electrical Bushings Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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