Global Electrical Bushings Market to grow at 3.86% CAGR through 2027

November 22, 2021

According to the report titled ‘Global Electrical Bushings Market Size study, by type (Oil Impregnated Paper, Resin Impregnated Paper, Others) by Application (Transformers, Switchgears, Others) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global electrical bushings market was valued at USD 2.66 billion in 2020 and is expected to grow at a healthy rate of 3.86%, reaching a valuation of USD 3.47 billion by the year 2027.

Focus on increasing electricity generation & distribution, backed by rising demand from the end-user industries, is the major factor driving the growth of global electrical bushings market. 

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For the unversed, an electrical bushing, being an inorganic material, allows an electric field to safely pass past a transmitting boundary without electrically connecting to it. Emphasis on insulation bushing and establishment of HVDC (high voltage direct current) network are impelling the industry share.

However, as a result of the COVID-19 pandemic, the market is likely to observe an increase in the number of local and other new players, resulting in intense competition. This coupled with reduced demand & supply of electrical bushing will impede the market growth during the forecast period.

Based on type, global electrical bushings market is divided into oil impregnated resin, oil impregnated paper, and others. In terms of application, the market is categorized into switchgear, transformers, and others. 

From the regional standpoint, the market spans across North America (U. S., Canada), Latin America (Brazil, Mexico), Europe (Germany, Italy, Spain, France, UK), and the Asia Pacific (South Korea, India, China, Japan, Australia).

As per the report, Asia Pacific accounted for a significant market share in the recent past because of rising demand for electricity generation & transmission across the region. Meanwhile, Europe market is estimated to record a strong rate during the forecast period 2021-2027, due to factors such as rising electricity demand from end-use verticals. 

The competitive landscape of global electrical bushings market is defined by companies like Bharat Heavy Electricals Ltd., General Electric Company, Siemens AG, RHM International, Eaton Corp. plc, GAMMA Insulator Company, ABB Ltd., CG Power & Industrial Solutions Limited, and Nexans S.A. among others. 

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