Industrial Electrical Bushing Market
PUBLISHED: 2024 ID: SMRC27999
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Industrial Electrical Bushing Market

Industrial Electrical Bushing Market Forecasts to 2030 - Global Analysis by Product (Oil Impregnated Paper, Resin Impregnated Paper and Other Products), Material, Voltage, Application, End User and By Geography

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4.5 (87 reviews)
Published: 2024 ID: SMRC27999

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Industrial Electrical Bushing Market is accounted for $1.31 billion in 2024 and is expected to reach $2.23 billion by 2030 growing at a CAGR of 9.3% during the forecast period. An Industrial Electrical Bushing is an insulating device used in electrical power systems to ensure that electrical conductors pass safely and reliably through conductive or grounded enclosures such as transformers, switchgear, and circuit breakers. It preserves the integrity of the insulation between high-voltage conductors and the grounded system and aids in the prevention of electrical arcing. Bushings are usually composed of materials like rubber, composite, or porcelain and are intended to endure high electrical stress, mechanical loads, and environmental conditions. 

Market Dynamics: 

Driver: 
 
Growing Demand for Energy Infrastructure 

The market is being driven by increased demand for energy infrastructure, as countries and industry prioritize upgrading aging electrical grids and developing power distribution networks. Reliable electrical components, like bushings, are essential when energy efficiency is prioritized and renewable energy sources like solar and wind are used. These parts assist the safe operation of electrical systems by ensuring secure, insulated connections between conductors and grounded enclosures, which propels market expansion in both developed and emerging regions.

Restraint:

High Initial Cost

The high initial cost of industrial electrical bushings restricts market expansion, particularly in price-sensitive nations. The exorbitant cost of premium bushings, which are frequently constructed from cutting-edge materials or intended for high-voltage applications, deters their general use. Furthermore, the expense of installation and upkeep may further limit investments in infrastructure improvements, especially in developing nations where financial restraints might favor less expensive options, so impeding market growth.

Opportunity:

Upgrading Aging Infrastructure

As many areas update their electrical grids to increase efficiency, safety, and dependability, the market for industrial electrical bushings is heavily driven by the upgrade of aging infrastructure. Improved parts, including premium bushings, are necessary for aging power systems to fulfill rising energy needs and guarantee steady operation. In power distribution and transmission systems, these bushings offer vital insulation and protection. The market is expanding as a result of the growing need for long-lasting, high-performance bushings brought on by government and utility investments in infrastructure renewal.

Threat:

Supply Chain Disruptions

Supply chain disruptions impede the market by delaying the manufacturing and delivery of crucial components. Manufacturing lead times and prices are increased by transportation issues, industrial closures, and shortages of raw materials. These problems can affect the timely installation of electrical bushings and cause delays in infrastructure projects, especially in power transmission and distribution systems. This slows market growth, particularly in areas that depend on international supply chains.

Covid-19 Impact: 

The COVID-19 pandemic disrupted the Industrial Electrical Bushing Market by halting production, delaying projects, and causing supply chain challenges. However, as industries recover, demand for power transmission infrastructure and electrical components like bushings are rising. The market is gradually rebounding, with a focus on upgrading energy systems and expanding renewable energy projects, fueling growth in the post-pandemic recovery phase.

The porcelain segment is expected to be the largest during the forecast period

The porcelain segment is expected to be the largest during the forecast period due to its superior insulating properties, mechanical strength, and durability. It is commonly used in high-voltage applications, providing reliable electrical insulation and protection against environmental factors like heat, moisture, and mechanical stress. Porcelain bushings are favored for their long lifespan and cost-effectiveness. As industries demand more durable and efficient electrical components, porcelain remains a key material, ensuring the reliability and safety of power transmission and distribution systems.

The capacitors segment is expected to have the highest CAGR during the forecast period

The capacitors segment is expected to have the highest CAGR during the forecast period as capacitors used in high-voltage applications, help to stabilize voltage, increase power quality, and reduce electrical losses. Bushings are essential for supporting and insulating capacitors in electrical devices. Bushings that can efficiently house and insulate capacitors in power transmission and distribution systems are becoming more and more in demand as businesses place a greater emphasis on energy efficiency, grid stability, and power quality. This is propelling market expansion.

Region with largest share:

North America is anticipated to hold the largest market share during the forecast period because the area is concentrating on improving its deteriorating electrical infrastructure and has been investing more in renewable energy initiatives. High-performance electrical bushings for power transmission and distribution systems are in high demand in the United States and Canada. Further propelling market expansion in North America are the expanding use of smart grid technology and the growing demand for cost-effective energy solutions in sectors like manufacturing.

Region with highest CAGR:

Asia Pacific is anticipated to witness the highest CAGR over the forecast period because of increased industrialization, urbanization, and the need for efficient power transmission. With their investments in power plants, energy infrastructure, and renewable energy projects, nations like China, India, and Japan are propelling market expansion. The region's demand for electrical bushings is being further increased by government electrification projects and the growing need for dependable electrical equipment across industries, such as manufacturing and utilities.

Key players in the market

Some of the key players in Industrial Electrical Bushing Market include ABB, Barberi Rubinetterie Industriali S.r.l., CG Power and Industrial Solutions, Eaton, Elliot Industries, General Electric, GIPRO, Hitachi Energy, Hubbell, Jiangxi Johnson Electric Co.,Ltd., Liyond, Maschinenfabrik Reinhausen GmbH, Meister International, LLC, Nexans, PFISTERER Holding SE, Rajeev Industries, RHM International, LLC, Siemens Energy, Trench Group and Yash Highvoltage Insulators Pvt. Ltd.

Key Developments:

In May 2024, ABB expanded electrification portfolio with acquisition of Siemens’ Wiring Accessories business. The acquisition had broadened ABB’s market reach and complements its regional customer offering within smart buildings.

In February 2024, ABB announced an agreement to acquire SEAM Group, a major provider of energized asset management. The acquisition brought significant additional expertise to customers in the areas of predictive, preventive, and corrective maintenance.

In January 2024, ABB announced to acquire Canadian company Real Tech, a leading supplier of innovative optical sensor technology that enables real-time water monitoring. Through the acquisition, ABB expands its strong presence in the water segment and complement its product portfolio with optical technology critical for smart water management.

Products Covered:
• Oil Impregnated Paper
• Resin Impregnated Paper
• Other Products

Materials Covered:
• Porcelain
• Polymeric
• Glass
• Other Materials

Voltages Covered:
• Low Voltage (Up to 1 kV)
• Medium Voltage (1 kV to 36 kV)
• High Voltage (Above 36 kV)

Applications Covered:
• Transformers
• Switchgear
• Circuit Breakers
• Capacitors
• Other Applications

End Users Covered:
• Power Generation
• Energy & Utilities
• Oil & Gas
• Manufacturing
• Mining
• Other End users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary     
       
2 Preface      

 2.1 Abstract     
 2.2 Stake Holders    
 2.3 Research Scope    
 2.4 Research Methodology   
  2.4.1 Data Mining   
  2.4.2 Data Analysis   
  2.4.3 Data Validation   
  2.4.4 Research Approach   
 2.5 Research Sources    
  2.5.1 Primary Research Sources  
  2.5.2 Secondary Research Sources  
  2.5.3 Assumptions   
       
3 Market Trend Analysis    
 3.1 Introduction    
 3.2 Drivers     
 3.3 Restraints    
 3.4 Opportunities    
 3.5 Threats     
 3.6 Product Analysis    
 3.7 Application Analysis   
 3.8 End User Analysis    
 3.9 Emerging Markets    
 3.10 Impact of Covid-19    
       
4 Porters Five Force Analysis    
 4.1 Bargaining power of suppliers   
 4.2 Bargaining power of buyers   
 4.3 Threat of substitutes   
 4.4 Threat of new entrants   
 4.5 Competitive rivalry    
       
5 Global Industrial Electrical Bushing Market, By Product  
 5.1 Introduction    
 5.2 Oil Impregnated Paper   
 5.3 Resin Impregnated Paper   
 5.4 Other Products    
       
6 Global Industrial Electrical Bushing Market, By Material 
 6.1 Introduction    
 6.2 Porcelain     
 6.3 Polymeric    
 6.4 Glass     
 6.5 Other Materials    
       
7 Global Industrial Electrical Bushing Market, By Voltage 
 7.1 Introduction    
 7.2 Low Voltage (Up to 1 kV)   
 7.3 Medium Voltage (1 kV to 36 kV)  
 7.4 High Voltage (Above 36 kV)   
       
8 Global Industrial Electrical Bushing Market, By Application 
 8.1 Introduction    
 8.2 Transformers    
 8.3 Switchgear    
 8.4 Circuit Breakers    
 8.5 Capacitors    
 8.6 Other Applications    
       
9 Global Industrial Electrical Bushing Market, By End User 
 9.1 Introduction    
 9.2 Power Generation    
 9.3 Energy & Utilities    
 9.4 Oil & Gas     
 9.5 Manufacturing    
 9.6 Mining     
 9.7 Other End users    
       
10 Global Industrial Electrical Bushing Market, By Geography 
 10.1 Introduction    
 10.2 North America    
  10.2.1 US    
  10.2.2 Canada    
  10.2.3 Mexico    
 10.3 Europe     
  10.3.1 Germany    
  10.3.2 UK    
  10.3.3 Italy    
  10.3.4 France    
  10.3.5 Spain    
  10.3.6 Rest of Europe   
 10.4 Asia Pacific    
  10.4.1 Japan    
  10.4.2 China    
  10.4.3 India    
  10.4.4 Australia    
  10.4.5 New Zealand   
  10.4.6 South Korea   
  10.4.7 Rest of Asia Pacific   
 10.5 South America    
  10.5.1 Argentina   
  10.5.2 Brazil    
  10.5.3 Chile    
  10.5.4 Rest of South America  
 10.6 Middle East & Africa   
  10.6.1 Saudi Arabia   
  10.6.2 UAE    
  10.6.3 Qatar    
  10.6.4 South Africa   
  10.6.5 Rest of Middle East & Africa  
       
11 Key Developments     
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures
 11.2 Acquisitions & Mergers   
 11.3 New Product Launch   
 11.4 Expansions    
 11.5 Other Key Strategies   
       
12 Company Profiling     
 12.1 ABB     
 12.2 Barberi Rubinetterie Industriali S.r.l.  
 12.3 CG Power and Industrial Solutions  
 12.4 Eaton     
 12.5 Elliot Industries    
 12.6 General Electric    
 12.7 GIPRO     
 12.8 Hitachi Energy    
 12.9 Hubbell     
 12.10 Jiangxi Johnson Electric Co.,Ltd.  
 12.11 Liyond     
 12.12 Maschinenfabrik Reinhausen GmbH  
 12.13 Meister International, LLC   
 12.14 Nexans     
 12.15 PFISTERER Holding SE   
 12.16 Rajeev Industries    
 12.17 RHM International, LLC   
 12.18 Siemens Energy    
 12.19 Trench Group    
 12.20 Yash Highvoltage Insulators Pvt. Ltd.  
       
List of Tables      
1 Global Industrial Electrical Bushing Market Outlook, By Region (2022-2030) ($MN)
2 Global Industrial Electrical Bushing Market Outlook, By Product  (2022-2030) ($MN)
3 Global Industrial Electrical Bushing Market Outlook, By Oil Impregnated Paper (2022-2030) ($MN)
4 Global Industrial Electrical Bushing Market Outlook, By Resin Impregnated Paper (2022-2030) ($MN)
5 Global Industrial Electrical Bushing Market Outlook, By Other Products (2022-2030) ($MN)
6 Global Industrial Electrical Bushing Market Outlook, By Material (2022-2030) ($MN)
7 Global Industrial Electrical Bushing Market Outlook, By Porcelain (2022-2030) ($MN)
8 Global Industrial Electrical Bushing Market Outlook, By Polymeric (2022-2030) ($MN)
9 Global Industrial Electrical Bushing Market Outlook, By Glass (2022-2030) ($MN)
10 Global Industrial Electrical Bushing Market Outlook, By Other Materials (2022-2030) ($MN)
11 Global Industrial Electrical Bushing Market Outlook, By Voltage (2022-2030) ($MN)
12 Global Industrial Electrical Bushing Market Outlook, By Low Voltage (Up to 1 kV) (2022-2030) ($MN)
13 Global Industrial Electrical Bushing Market Outlook, By Medium Voltage (1 kV to 36 kV) (2022-2030) ($MN)
14 Global Industrial Electrical Bushing Market Outlook, By High Voltage (Above 36 kV) (2022-2030) ($MN)
15 Global Industrial Electrical Bushing Market Outlook, By Application (2022-2030) ($MN)
16 Global Industrial Electrical Bushing Market Outlook, By Transformers (2022-2030) ($MN)
17 Global Industrial Electrical Bushing Market Outlook, By Switchgear (2022-2030) ($MN)
18 Global Industrial Electrical Bushing Market Outlook, By Circuit Breakers (2022-2030) ($MN)
19 Global Industrial Electrical Bushing Market Outlook, By Capacitors (2022-2030) ($MN)
20 Global Industrial Electrical Bushing Market Outlook, By Other Applications (2022-2030) ($MN)
21 Global Industrial Electrical Bushing Market Outlook, By End User (2022-2030) ($MN)
22 Global Industrial Electrical Bushing Market Outlook, By Power Generation (2022-2030) ($MN)
23 Global Industrial Electrical Bushing Market Outlook, By Energy & Utilities (2022-2030) ($MN)
24 Global Industrial Electrical Bushing Market Outlook, By Oil & Gas (2022-2030) ($MN)
25 Global Industrial Electrical Bushing Market Outlook, By Manufacturing (2022-2030) ($MN)
26 Global Industrial Electrical Bushing Market Outlook, By Mining (2022-2030) ($MN)
27 Global Industrial Electrical Bushing Market Outlook, By Other End users (2022-2030) ($MN)
       
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
 

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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