HV Bushing Market Growth Trends, Industry Size, Opportunities, Demand and Regional Forecast to 2025
Global HV Bushing Market Analysis
The global HV Bushing market is expected to grow in the coming years per the report published by the team of Market Research Future (MRFR). The global market is driven by the following factors: a consistent and imperative need for a reliable electric supply, continuous investments made in transmission and distribution network, development of safe electrical infrastructure, and an expansion of the grid. The report mentioned that the global HV bushing market is projected to grow during the forecast period at a CAGR of 6.5%. The valuation of the market is also expected to massively grow and reach an impressive figure till the end of the forecast period in 2023.
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HV Bushing is primarily used in an electrical equipment for passing an electrical conductor via a grounded object. This is done so without causing any short circuit. Owing to the fluctuations in frequency, the electrical strength can vary in the conductor. This can lead to leakage paths getting developed within the insulation. If, by chance, the leakage surpasses the dielectric strength of the insulation, the insulation can be punctured and current will be conducted to the nearest earthed material. This can thereby cause burning and arching. HV Bushing comes into this equation as a reliable solution that can prevent such incidences from occurring.as
Bushings are accepted across the globe in various sectors, both commercial and industrial, as safety devices. Bushing offers rigid support to the conductors from the inside. These are majorly found in circuit breakers, motors, alternators, and capacitors. Additionally, HV bushings are filled with insulating medias like resin impregnated paper, oil, and oil impregnated paper to offer greater dielectric strength. It makes them permeable for installation across various utilities and particularly in the industrial sector. It was reported by MRFR that the growing need for electricity and the overall growth of grid infrastructures are expected to drive the market of HV bushing. However, concerns related to the fluctuating material costs and R&D in modern HV bushing can be a major hamper to the global HV bushing market.
HV Bushing Market Segmentation
The global HV bushing market segmentation is done in terms of the following dynamics: installation, type, voltage rating, and end-user.
By type, the market includes non-condenser type and condenser type.
By voltage rating, the market comprises 170kV-245kV, 15kV-170kV, and 245kV & above.
By installation, the market segments into indoor and outdoor installation.
By end-user, the market includes industries, utilities, and others.
The global HV bushing market covers the following region in the geographical segmentation: Asia Pacific, North America, Europe, and the Rest of the World (RoW). Among them, the Asia Pacific region holds the leading position in the market. The growth of the region is due to the fast-paced industrialization, urbanization, and the rapid economic growth that is being witnessed across nations like India and China. The Asia Pacific region is expected to grow considerably over the forecast period and maintain its position at the top of the HV bushing market. Elsewhere, the European and North American region are expected to grow at a steady pace and boast similar growth trajectories. The ROW region, on the other hand, is expected to garner meagre growth over the forecast period.
The global HV bushing market includes the following key players as was identified by MRFR in its report: Webster-Wilkinson Ltd. (U.K), Crompton Greaves (India), General Electric (U.S.), Warco, Inc. (U.S), Siemens AG (Germany), Meister International, LLC (U.S), Hubbell Incorporated (U.S), The H-J Family of Companies (U.S), ABB Ltd. (Switzerland), and ELANTAS GmbH (Germany). The players in the HV bushing market are making significant contributions to boost their positioning in the competitive landscape.
Industry Related News
May 2019, it was revealed by HV Bushing Services that it has recently moved its site to a new location that will boast large facilities and have a large enough yard area.
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