Summary
Table of Content
Asia Pacific Electrical Bushing Market
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Asia Pacific Electrical Bushing Market Size
Asia Pacific Electrical Bushing Market was valued at USD 1.6 billion in 2023 and is anticipated to grow at a CAGR of over 6% from 2024 to 2032. Rapid industrialization and urbanization across the region are driving the demand for electricity, consequently increasing the need for electrical infrastructure, including transformers and switchgear, where electrical bushings are integral components. Additionally, the burgeoning renewable energy sector, particularly in countries like China and India, is boosting the market of electrical bushing as they are crucial for efficient power transmission from renewable sources.
To get key market trends
Ongoing investments in grid modernization projects to enhance energy efficiency and reliability are further propelling market growth. Furthermore, advancements in bushing technologies, such as the adoption of eco-friendly and lightweight materials, are attracting more consumers. Over the past decade, the surge of globalization and the expanding global population have significantly heightened the need for electricity on a worldwide scale.
Asia Pacific Electrical Bushing Market Report Attributes
| Key Takeaway | Details |
|---|---|
| Market Size & Growth | |
| Base Year | 2023 |
| Market Size in 2023 | USD 1.6 Billion |
| Forecast Period 2024 to 2032 CAGR | 6% |
| Market Size in 2032 | USD 2.8 Billion |
| Key Market Trends | |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
What are the growth opportunities in this market?
Asia Pacific Electrical Bushing Market Trends
Asia Pacific electrical bushing industry is witnessing several notable trends. There's a growing demand for high voltage electrical bushings, driven by the expansion of power transmission and distribution networks in emerging economies like India and China. Advancements in material technology, including the adoption of silicone rubber bushings, are gaining traction due to their superior insulation properties and durability.
Increasing emphasis on renewable energy sources is fuelling the demand for bushings suitable for renewable energy applications like wind and solar power. Moreover, there's a rising focus on enhancing bushing reliability and performance, leading to innovations in design and manufacturing processes. The market is witnessing a shift towards environmentally friendly and sustainable bushing solutions to align with global energy transition goals.
Asia Pacific Electrical Bushing Market Analysis
Learn more about the key segments shaping this market
Based on bushing type, the oil impregnated paper (OIP) segment is anticipated to cross USD 1.5 billion by 2032, owing to their proven reliability and effectiveness in high-voltage applications. OIP bushings offer excellent insulation properties, efficient heat dissipation, and long service life. As the demand for reliable electricity transmission and distribution infrastructure increases in the Asia Pacific region, particularly in emerging economies, the need for OIP bushings is expected to surge.
Learn more about the key segments shaping this market
Based on insulation, the polymeric segment is likely to register 6.2% CAGR through 2032, on account of its lightweight, high mechanical strength, and resistance to environmental factors such as pollution and UV radiation. These properties make polymeric bushings ideal for use in harsh operating conditions prevalent in the region, driving their widespread adoption and contributing to their largest market share.
Looking for region specific data?
China electrical bushing market is projected to surpass USD 800 million by 2032 due to its massive infrastructure development projects and rapid urbanization. As the largest consumer of electrical power in the region, China drives substantial demand for electrical bushings across various voltage levels. Additionally, the country's emphasis on upgrading its power transmission and distribution networks to meet growing energy needs further underscores its importance in the regional bushing market.
Asia Pacific Electrical Bushing Market Share
Companies like Hitachi, ABB, and Eaton lead the Asia Pacific electrical bushing industry due to their strong brand reputation instills trust in customers. Their extensive product portfolios cater to diverse needs, ensuring they can meet varying requirements. Additionally, their robust distribution networks enable efficient reach across the region. Furthermore, they invest in research and development, staying ahead with innovative solutions.
Asia Pacific Electrical Bushing Market Companies
Some major players operating in the Asia Pacific electrical bushing industry is mentioned below:
- ABB
- Barberi Rubinetterie Industriali S.r.l.
- CG Power and Industrial Solutions
- Elliot Industries
- Eaton
- GIPRO
- General Electric
- Hubbell
- Hitachi Energy
- Jiangxi Johnson Electric Co., Ltd.
- Liyond
- Nexans
- RHM International, LLC
- Siemens Energy
- Rajeev Industries
- SATRAJ CERAMICS
- Trench Group
- THORNE & DERRICK INTERNATIONAL
- Yash Highvoltage Insulators Pvt. Ltd.
Asia Pacific Electrical Bushing Industry News
- In September 2023, CG Power, a subsidiary of the Murugappa Group, has announced its intention to invest in capacity expansion across multiple facilities following a substantial surge in orders during the second quarter of 2023. This expansion initiative includes enhancing manufacturing capabilities for instrument transformers and condenser bushings at their Nashik facility, as well as increasing production for large industrial machine units at the Mandideep location.
- In April 2023, Eaton has proudly announced the successful acquisition of a segment of Jiangsu Ryan Electrical Co. Ltd., a distinguished company known for its proficiency in power distribution systems and sub-transmission transformers. This strategic decision not only boosts Eaton's international footprint but also consolidates its standing in the energy, utility, and industrial sectors.
This Asia Pacific electrical bushing market research report includes in-depth coverage of the industry with estimates & forecast in terms of “000 Units & USD Million” from 2021 to 2032, for the following segments:
Market, By Bushing Type
- Oil impregnated paper (OIP)
- Mineral-based
- Silicon-based
- Others
- Resin impregnated paper (RIP)
- Others
Market, By Insulation
- Porcelain
- Polymeric
- Glass
Market, By Voltage
- Medium voltage
- High voltage
- Extra high voltage
Market, By Application
- Transformer
- Switchgear
- Others
Market, By End Use
- Industries
- Utility
- Others
The above information has been provided for the following countries across the countries:
- China
- Japan
- South Korea
- India
- Australia
Frequently Asked Question(FAQ) :
Who are the leading electrical bushing market players in APAC?
ABB, Barberi Rubinetterie Industriali S.r.l., CG Power and Industrial Solutions, Elliot Industries, Eaton, GIPRO, General Electric, Hubbell, Hitachi Energy, Jiangxi Johnson Electric Co., Ltd., Liyond, Nexans, RHM International, LLC, Siemens Energy, Rajeev Industries, SATRAJ CERAMICS, Trench Group, THORNE & DERRICK INTERNATIONAL, and Yash Highvoltage Insulators Pvt. Ltd. are some of the major electrical bushing companies operating in Asia Pacific.
What factors are influencing electrical bushing market growth in China?
China electrical bushing industry is estimated to be worth over USD 800 million by 2032 and is expected to depict substantial growth from 2024 to 2032, led by the growing emphasis on upgrading the power transmission and distribution networks.
How big is the Asia Pacific electrical bushing market?
Asia Pacific market for electrical bushing was recorded USD 1.6 billion in 2023 and is expected to depict 6% CAGR from 2024 to 2032, due to the burgeoning renewable energy sector along with the rapid urbanization and industrialization.
Why is the demand for electrical bushing OIP rising in APAC?
The oil impregnated paper (OIP) segment in the Asia Pacific electrical bushing market is estimated to exceed USD 1.5 billion by 2032, owing to their proven reliability and effectiveness in high-voltage applications.
