Market Size of Asia-Pacific Electrical Bushing Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.40 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Electrical Bushing Market Analysis
The Asia-Pacific electrical bushing market is expected to register at a CAGR of more than 4.4% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently, the market has reached pre-pandemic levels.
- Over the medium term, factors such as growing power demand and the expansion and upgradation of grid structure are expected to drive the electrical bushings market in the forecast period. Applications like railways and smart grids are anticipated to create a need for electrical bushings and drive the market further.
- On the flip side, electrical bushings are subjected to failure and can result in the loss of costly assets/equipment with long replacement times and cause issues related to personnel safety. Thus, untimely bushing failure can act as a restraint for the electrical bushing market.
- The world, especially Asia-Pacific, is moving towards renewable energy, which requires new transmission and distribution networks. With this, ample opportunities would be generated in the future for electrical bushing market players.
- India is expected to witness significant demand in the Asia-Pacific electrical bushing market during the forecast period.
