Europe Electrical Bushing Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Electrical Bushing Market Analysis
The European electrical bushing market is expected to grow with a CAGR of around 2% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. It has now reached pre-pandemic levels.
- Over the short term, factors such as growing power demand (particularly after the Russia-Ukraine conflict) in the region and the expansion and upgradation of grid structure are expected to drive the European electrical bushings market.
- On the other hand, electrical bushings are subjected to failure. They can result in the loss of costly assets/equipment with long replacement times resulting in financial losses. Thus, untimely bushing failure can restrain the electrical bushing market.
- Nevertheless, the increasing demand for new transmission and distribution networks due to the growing trend toward renewable power plants creates tremendous opportunities for the electrical bushings market.
- Eastern Europe is expected to dominate the market due to the high demand for electricity transmission networks in the current scenario.
Europe Electrical Bushing Market Trends
This section covers the major market trends shaping the Europe Electrical Bushing Market according to our research experts:
Transformer Application Expected to Witness Significant Growth
- Electrical bushings in transformers carry current at high voltage through equipment enclosures and provide an insulating barrier between the live conductor and the metallic body of the electrical apparatus. Transformers are applied either in new substations in the electricity transmission system or during the upgradation of existing substations.
- The European region has witnessed consistent growth in the power generated, reaching around 4,032 TWh in 2021. Moreover, the electricity grids are being modernized and upgraded due to power demand fluctuations, electricity trading, and additions of renewable energy. Many countries continuously try to upgrade their electricity grids with new substation projects or other grid modernization techniques.
- As an example, in Belgium, Elia Group SA, the leading European transmission system operator, is currently on a project to develop a new substation in Lillo, Antwerp, Belgium. The Elia Grid Substation is a 380 kV substation expected to be commissioned in 2024. Such projects are anticipated to influence the transformers market with an upscaled demand directly.
- Moreover, after the Ukraine-Russia war, the countries in Eastern Europe are reviving the electricity distribution networks again after a considerable disruption. The ESFC Group, a European investment consulting group, has contemplated financially supporting the modernization of grid substations of Eastern Europe's electricity network with the replacement of existing components like transformers, insulators, cabinets, etc.
- Owing to such developments, the transformer application is expected to have the highest deployment of electrical bushings in the near future.
Eastern Europe Expected to Witness Significant Growth
- The Eastern Europe region is forecasted to have the highest number of deployments of electrical components in the near future due to a large number of electricity transmission projects planned in the area after the Russia-Ukraine war. The countries where projects are planned or in the development phase are Romania, Poland, the Czech Republic, Hungary, Serbia, and Montenegro.
- In Romania, a number of public and private projects have been planned for electricity transmission to respond to the growing power demand and rehabilitate the disrupted power grid networks. The electricity generated in the country saw growth in recent years (except for the COVID-19 effect), reaching around 59.3 TWh in 2021. The country has planned even more power transmission projects to balance the generation for the coming years.
- For instance, in November 2022, ANRE, Romania's energy regulator, announced new plans to invest around USD 1.4 billion to develop the electric power transmission network in the country between 2022 and 2031. Some 29% of the planned investment will be used to upgrade the existing electric transmission networks, 26% to integrate green energy generation, and 30% to increase the interconnection capacity.
- Other Eastern European countries have also implemented smart grid projects in the region. For instance, some smart grid projects planned in November 2021 include the Carpathian Modernized Energy Network (CARMEN) project between Hungary and Romania, the Gabreta project between the Czech Republic and Germany, and the Green Switch project between Austria, Croatia, and Slovenia.
- Owing to such developments, the eastern Europe region is predicted to have the lion's share in the electrical bushings market.
Europe Electrical Bushing Industry Overview
The European electrical bushing market is fragmented. Some of the key players (in no particular order) include General Electric Company, ABB Ltd, Siemens AG, Eaton Corporation PLC, and Gipro GmBH.
Europe Electrical Bushing Market Leaders
General Electric Company
ABB Ltd.
Siemens AG
Eaton Corporation Plc.
Gipro GmBH
*Disclaimer: Major Players sorted in no particular order
Europe Electrical Bushing Market News
- No recent developments in the market.
Europe Electrical Bushing Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Market Drivers
4.5.2 Market Restraints
4.6 Supply Chain Analysis
4.7 Industry Attractiveness - Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Oil Impregnated Paper
5.1.2 Resin Impregnated Paper
5.1.3 Other types
5.2 By Application
5.2.1 Transformers
5.2.2 Switchgears
5.2.3 Other Applications
5.3 By Geography
5.3.1 Germany
5.3.2 France
5.3.3 United Kingdom
5.3.4 Eastern Europe
5.3.5 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 General Electric Company
6.3.2 ABB Ltd
6.3.3 Siemens AG
6.3.4 Eaton Corporation PLC
6.3.5 Gipro GmBH
6.3.6 Nexans SA
6.3.7 CG Power and Industrial Solutions Ltd
6.3.8 Chin Sun
6.3.9 Poinsa
6.3.10 Georg Jordan GmBH
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Europe Electrical Bushing Industry Segmentation
Electrical bushings are the essential components for a wide range of electrical equipment like power transformers, circuit breakers, shunt reactors, and capacitors. They carry the current at high voltage through equipment enclosures.
The European electrical bushing market is segmented by type, application, and geography. By type, the market is segmented into oil-impregnated paper, resin-impregnated paper, and other types. By application, the market is segmented into transformers, switchgear, and other applications. The report also covers the market size and forecasts for the market across major countries. For each segment, the market sizing and forecasts are calculated based on revenue (in USD billion).
| By Type | |
| Oil Impregnated Paper | |
| Resin Impregnated Paper | |
| Other types |
| By Application | |
| Transformers | |
| Switchgears | |
| Other Applications |
| By Geography | |
| Germany | |
| France | |
| United Kingdom | |
| Eastern Europe | |
| Rest of Europe |
Europe Electrical Bushing Market Research FAQs
What is the current Europe Electrical Bushing Market size?
The Europe Electrical Bushing Market is projected to register a CAGR of greater than 2% during the forecast period (2024-2029)
Who are the key players in Europe Electrical Bushing Market?
General Electric Company, ABB Ltd., Siemens AG, Eaton Corporation Plc. and Gipro GmBH are the major companies operating in the Europe Electrical Bushing Market.
What years does this Europe Electrical Bushing Market cover?
The report covers the Europe Electrical Bushing Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Europe Electrical Bushing Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Electrical Bushing Industry Report
Statistics for the 2024 Europe Electrical Bushing market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Electrical Bushing analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
