Electrical Bushing
Market Analysis
The global Electrical
Bushing Market is estimated to record an approximate CAGR of 3.5%
during the forecast period. Rising investments in major grid expansion projects
in various countries to increase the distribution capacity are likely to fuel the global electrical
bushing market during the review period. Further, technological developments
witnessed in the transmission sector are estimated to promote positive growth
in the electrical bushing market. Additionally, the design and composition
standards are effective in high voltage
transmission and grid distribution due to the use
of ANSI/IEEE Standards, driving the market exponentially. Increasing focus of electricity generation due
to mushrooming demands for energy in various countries across the globe is
expected to push the electricity bushing market. In contrast, a major concern of the risk of fire and moisture
in the environment in oil-impregnated
paper (OIP) bushing is expected to restrain the market to a certain extent. Due
to a lack of standardized dimensional requirements in terms of ease of
maintenance and strategic spare requirements, the electrical bushing market is
anticipated to witness some hindrance in growth.
Market Segmental Analysis
The global electrical bushing
market is segmented on the basis of insulation type, voltage type,
and end-user. Based on insulation type, the market is segmented into liquid-insulated
bushing, oil-impregnated paper bushing, combined insulation bushing, and
gas-impregnated bushing. The oil-impregnated segment, under insulation type, is
expected to dominate the global electrical bushing market owing to its high
voltage capacity. On the basis of voltage type,
the electrical bushing market is segmented into low voltage bushings and
high voltage bushings. The high voltage bushings segment is estimated to hold
the largest market share owing to its
high-power rating and stability in transmission. Based on end-user, the market is segmented into utilities and industries. The
utilities segment is expected to dictate
the electrical bushing market during the assessment period due to its multiple
uses in transformers and circuit breakers.
Regional Analysis
The global electrical bushing
market is geographically segmented into
North America, Europe, Asia Pacific (APAC), and the Rest of the World
(RoW). The APAC is estimated to capture
the largest share of the electrical bushing market during the forecast period
of 2018-2023 owing to an increased demand for power from renewable energy
sources. China is likely to be one of the
largest electrical bushing consumers in Asia
Pacific, contributing majorly to market growth in the region. North America and
Europe are anticipated to grow significantly due to a rise in the demand for
energy with increased use of electrical
gadgets, and the emergence of
technologies like the internet of things and smart homes.
Key Players
Some of the prominent players
transforming the landscape of the electrical bushing market, as profiled by
MRFR include ABB Group, TRENCH Group (SIEMENS), General
Electric, Eaton, Elliot Industries, Gipro GMBH, RHM International, Toshiba,
Webster-Wilkinson, Siemens (Germany), and Nexans (France).
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