The global Electrical Bushings Market is expected to foresee significant growth. Asia Pacific to lead the growth!
- Vikas Kumar
- February 13, 2023
- ENERGY & POWER, NEWS
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The Electrical Bushings Market is expected to grow at a CAGR of 3.5% from 2022-2028. The electrical bushing refers to an insulating structure through a conductor or providing a central passage with provision for mounting a barrier, conducting for the purpose of insulating the conductor from the barrier, and conducting current from one side of the barrier to the other. Factors such as growing power demand and the expansion and upgradation of the grid structure are expected to drive the electrical bushings market in the forecast period. Applications like railways and smart grids are expected to create a need for electrical bushings and drive the market further.
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Based on the type, the electrical bushings market is bifurcated into resin-impregnated paper (RIP) and oil-impregnated paper (OIP). The resin-impregnated paper (RIP) captured a substantial share of the global electrical bushings market. It is mainly owing to the rising investment in upgrading the existing utility structure such as transformers, reactors, and deployment of smart grids that are escalating the demand for resin-impregnated paper (RIP). As the superiority of resin-impregnated paper (RIP) bushings over oil-impregnated paper (OIP) bushings, RIP Bushings are used for all voltage ratings from 52 kV to 420 kV (400 kV Class) for their annual requirements of RIP Bushings for new Transformers and Reactors.
Based on insulation, the electrical bushings market is classified as polymeric, glass, and porcelain. Porcelain insulation dominates the market share as it is a low-cost insulation technology with long life and offers a maintenance-free solution that can withstand all environmental conditions. Moreover, Porcelain insulators that are bushing and arrester are significant components of the transformer which is escalating its market demand.
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For a better understanding of the market adoption of the Electrical Bushings industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), of World. Asia Pacific is anticipated to grow at a substantial CAGR during the forecast period. This is mainly attributed to the power industry in the region that aims at expanding the power transmission and distribution networks and the inclusion of renewable technologies in its electricity generation mix. Moreover, to strengthen the power supply in urban and rural areas, the Indian transformer bushing market is anticipated to grow at a fueling rate due to support from the government in electric infrastructure. For instance: In December 2021, Transformers and Rectifiers India Limited announced that it had awarded orders of transformers for a total contract value of INR 72 crores to Gujarat Energy Transmission Corporation Limited (GETCO).
Some of the major players operating in the market include ABB Group, TRENCH Group (SIEMENS), General Electric, Eaton, Elliot Industries, Gipro GMBH, RHM International, Toshiba, Webster-Wilkinson, and Nexans.
Global Electrical Bushings Market Segmentation
Market Insight, by Type
• Resin Impregnated Paper (RIP)
• Oil Impregnated Paper (OIP)
Market Insight, by Insulation
- Polymeric
- Glass
- Porcelain
Market Insight, by Application
- Switchgear
- Transformer
- Others
Market Insight, by Industries
- Industries
- Utilities
- Others
Market Insight, by Region
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- The United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Rest of the World
Top Company Profiles
• ABB Group
• TRENCH Group (SIEMENS)
• General Electric
• Eaton
• Elliot Industries
• Gipro GMBH
• RHM International
• Toshiba
• Webster-Wilkinson
• Nexans
