What is the global market size of Electrical Bushings Market?

Electrical Bushings Market size was valued at USD 2.47 billion in 2021 and is poised to grow from USD 2.58 billion in 2022 to USD 3.33 billion by 2030, growing at a CAGR of 3.8% in the forecast period (2023-2030).

Electrical Bushings Market Size, Share, Growth Analysis, By Product Type(Oil Impregnated Paper (OIP), Resin Impregnated Paper (RIP)), By Insulation(Porcelain, Polymeric), By Voltage(Medium voltage, High Voltage), By Application(Transformer, Switchgear), By End User(Utilities, Industries) - Industry Forecast 2024-2031

Report ID: SQSG20D2018 | Region: Global | Published Date: April, 2024
Pages: 165 | Tables: 144 | Figures: 78

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.

Electrical Bushings Market Report Snapshots

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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).

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). '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'

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.

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.

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Electrical Bushings Market Regional Insights

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