Electrical Bushings Market by Type (Oil Impregnated Paper, Resin Impregnated Paper), Insulation (Porcelain, Polymeric, Glass), Voltage (MV, HV, EHV), Application (Transformer, Switchgear), End-User (Utilities, Industries), & Region-Global Forecast to 2023
“The electrical bushings market is projected to grow at a CAGR of 3.86%, from 2018 to 2023.”
The electrical bushings market is projected to reach USD 2.96 billion by 2023, from an estimated USD 2.45 billion in 2018, at a CAGR of 3.86%, from 2018 to 2023. This growth can be attributed to the rising demand for electrical equipment from end-users such as railways and the renewable sector and increasing expenditure on electrical networks. Untimely bushing failures can hinder the growth of the market.
“The transformer segment is expected to dominate the electrical bushings market, from 2018 to 2023.”
The transformer segment held the largest market share in 2017 and is estimated to be the fastest-growing segment during the forecast period. Bushing is the main component in transformers to withstand any voltage and mechanical and environmental stresses. The reduction of downtime in the event of transformer failure is the major factor driving the transformer segment.
“Asia Pacific: The fastest growing market for electrical bushings.”
Asia Pacific was the largest market for electrical bushings in 2017 and projected to grow at the highest CAGR, during the forecast period. China accounted for the largest share of the electrical bushings market in Asia Pacific region in 2017 and has the largest installed power generation and distribution capacity. Countries such as China, India, and Japan are driving the electrical bushings market in Asia Pacific. These countries are investing in grid expansion projects in order to increase distribution grid reliability. Moreover, South-East Asian countries in the region are augmenting their power generation capacities. All these factors are expected to drive the growth of the electrical bushings market in Asia Pacific.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 45%, Tier 2- 35%, and Tier 3- 20%
By Designation: C-Level- 15%, D-Level- 25%, and Others- 60%
By Region: Asia Pacific- 40%, North America- 25%, Europe- 20%, Middle East & Africa- 10%, and South America- 5%
Note: Others includes sales managers, marketing managers, product managers, and product engineers
Note: The tiers of the companies are defined on the basis of their total revenues as of 2017. Tier 1: >USD 10 billion, Tier 2: From USD 1 billion to USD 10 billion, and Tier 3: <USD 1 billion
The leading players in the electrical bushings market include ABB (Switzerland), Siemens (Germany), GE (US), Eaton (Ireland), and Nexans (France).
The report defines, describes, and forecasts the global electrical bushings market by type, insulation, voltage, application, end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the electrical bushings market.
Why Buy this Report?
1. The report identifies and addresses key markets for electrical bushings, which would help manufacturers review the growth in demand.
2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.