Market Size of Electrical Bushing Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.60 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Electrical Bushing Market Analysis
The electrical bushing market is expected to record a CAGR of more than 5.6% during the forecast period 2022-2027. The outbreak of COVID-19 in Q1 2020 negatively impacted the electric bushings market. Lockdown restrictions imposed by governments worldwide affected end-user demand, and electric construction and infrastructure projects were halted during Q1 of 2020. Additionally, disruptions in the supply chain and global shipping affected the production and the import and export of the electrical bushings market. 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. However, 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 transformer sub-sector is expected to dominate the market due to ongoing plans for grid development and upgradation.
The world is moving toward renewable energy, which requires new transmission and distribution networks. With this, ample opportunities would be generated in the future for electrical bushing market players.
Asia-Pacific is expected to dominate the market during the forecast period. The development of railways and the growing need for circuit breakers and switch gears in countries like China and India are expected to drive the market significantly.
