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The global electrical bushing market size reached nearly USD 3.2 billion in 2023. The market is projected to grow at a CAGR of 4.3% between 2024 and 2032 to reach a value of around USD 4.71 billion by 2032.
Electrical bushing refers to an electrical component which is used to carry high voltage current through equipment enclosures. These enclosures may consist of apparatus such as transformers, circuit breakers, shunt reactors, or power capacitors, among others. Electrical bushings are typically made up of porcelain, however other insulating materials can also be used.
Based on type, the market is divided into oil impregnated paper (OIP) and resin impregnated paper (RIP), among others. On the basis of voltage, the market is classified into medium voltage (1 KV to 72.5 KV), high voltage (72.5 KV to 220 KV), and extra high voltage (> 220 KV). By insulation, the market is segmented into porcelain, polymeric, and glass.
By application, the market is categorised into transformer and switchgear, among others. The major regional markets for electrical bushing include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global electrical bushing market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
Transformers account for a significant portion of the electrical bushing market share. Bushing is an important accessory of a transformer that offers an effective and efficient insulation between line conductor and tank. Transformer bushing also provides insulation between outgoing conductors and slots which is not possible using simple arrangements. Increasing power demands due to rising investments in infrastructure development projects and upgradation of grid structures are further bolstering the requirement for electrical bushings.
As per the electrical bushing market analysis, the Asia Pacific holds a significant share of the market. The rising demand for power across the region, fuelled by growing urbanisation and industrialisation, and increasing population, is leading to the expansion of power transmission and distribution networks. Moreover, the rapid electrification of rural areas across emerging economies is escalating the market demand. The increasing emergence of power generation projects in various countries across the Asia Pacific is further supporting the market expansion in the region.
General Electric Company is a multinational company which offers bushings for electrical transmission with high value benefits. The company offers specialised solutions related to different industry verticals including renewable energy, power, and aerospace, among others. General Electric company was founded in 1892 and is headquartered in Massachusetts, United States.
ABB Ltd. is one of the renowned technology leaders that offers innovative solutions in the electrification and automation domain. The company aims to provide a sustainable and resource-efficient future to its end users. The company was founded in 1988 and is headquartered in Zurich, Switzerland.
Siemens AG is a leading technology company that offers technical expertise as well as state-of-art solutions in fields ranging from IT and finance to energy and power distribution. The company was founded in 1847 and is headquartered in Berlin and Munich, Germany.
Other market players include Hitachi Ltd., Hubbell Inc., CG Power and Industrial Solutions Ltd., Eaton Corporation Plc, GIPRO GmbH, Webster-Wilkinson Ltd., RHM International, LLC, and POLYCAST International, among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Voltage |
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Breakup by Insulation |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Electrical Bushing Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market reached a value of nearly USD 3.2 billion in 2023.
The market is estimated to grow at a CAGR of 4.3% in the forecast period of 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 4.71 billion by 2032.
The increasing demand for electricity, expansion of power distribution networks, and introduction of policies by various governments to improve safety in the utility sector, are the major drivers of the market.
The key trends in the market include the technological advancements including development of non-metallic split bushings, split grounding bushings, and cable bushings, among others, and the expansion of power infrastructure due to rising urbanisation and digitalisation.
The different types of electrical bushings include oil impregnated paper (OIP), and resin impregnated paper (RIP), among others.
The applications of electrical bushing include transformer and switchgear, among others.
General Electric Company, ABB Ltd., Siemens AG, Hitachi Ltd., Hubbell Inc., CG Power and Industrial Solutions Ltd., Eaton Corporation Plc, GIPRO GmbH, Webster-Wilkinson Ltd., RHM International, LLC, and POLYCAST International, among others, are the key market players.
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