Electrical Bushing Market Is Predicted To Grow More Than 3.5% By 2023
Global Electrical Bushing Market Overview
Electrical bushings refer to insulated gadgets that allow an electrical conductor to pass safely through a grounded conductor barrier like a circuit breaker or transformer. Materials generally used to make electrical bushing include porcelain, paper, and resin. Electrical bushes are mainly used to reduce the stress in the electrical field and to minimize the harm done to the electrical insulator. 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.
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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.
Electrical Bushing Market Leading Players:
- ABB Group,
- Trench Group (Siemens),
- General Electric,
- Elliot Industries,
- Gipro GMBH,
- RHM International,
- Siemens (Germany), and
- Nexans (France).
Global Electrical Bushing Market 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.
Global Electrical Bushing 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.
July 2018: Upcoming POWER-GEN & DistribuTECH Africa conference held in 2018 presented new technologies to reduce costs of power generation and distribution. A new storage technology for Resin Impregnated Paper (RIP) Bushings during the summit which enabled cost effective adoption and a simplified adoption for the same.
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