Electrical Bushings Market size will witness growth owing to expansion of transmission and distribution network along with rising demand for electrical equipment. In addition, surging renewable energy penetration coupled with growing focus toward research & development activities will positively influence the industry dynamics.
Growing demand for long distance transmission network in line with rapid infrastructural expansion will drive the electrical bushings market size. Operational feasibility, quick response, enhanced reliability and protection to electrical equipment are few indispensable factors stimulating the business outlook.
Soaring investments towards refurbishment & renovation of existing power grid infrastructure along with regulatory measures toward energy optimization will stimulate the electrical bushings market growth. Ability to withstand environmental and mechanical stresses along with its capability to reduce down time during system failure will complement the business outlook.
Government efforts toward reducing aggregate technical and commercial (AT&C) losses along with growing electrification index across developing economies will propel the electrical bushings market share. In addition, regulatory measures to reduce the electricity demand supply gap in line with rising awareness toward infrastructure safety and reliability will complement the industry landscape.
Rising need for sustainable electrical infrastructure along with industry focus to achieve cost competitiveness will stimulate the oil impregnated electrical bushings market size. Increased electrical performance, high dielectric strength, and low cost, are some of the paramount factors which will further boost the product demand.
Transformer utility electrical bushings market is expected to witness significant upsurge on account of its capability to minimize fire hazard and enhanced operational life. Additionally, ability to withstand high voltage & mechanical strength coupled with ease of install and transportation feasibility will propel the product adoption.
Growing need for continuous and reliable power supply will accelerate the utility electrical bushings market share. Sub-urban population migration in line with rising energy demand from industrial sector will further augment the business outlook.
Positive outlook toward establishment of smart grid and smart cities systems along with increased adoption of automation technologies will drive the North America electrical bushings market size. For instance, in 2017, Ministry of Natural Resources announced fund allocation of USD 100 million toward the establishment of smart grids across the Canada.
Rising power consumption along with investments toward expansion of real estate and infrastructure sector will stimulate the Asia Pacific electrical bushings market growth. Wide range applicability across metro, railways, and commercial sector will further complement the product adoption. In 2018, Japan government sanctioned a loan of USD 930 million for the development of Metro project in Chennai, India.
Key industry participants across the electrical bushings market comprise ABB, Siemens, HSP, BHEL, GE, Crompton Greaves, Eaton, Megger Group, Gipro, Polycast International, H-J International, RHM International, Elliot, Webster-Wilkinson, Gamma, Toshiba, and Nexans among others.