What is Global Transformer Bushings Market?
The Global Transformer Bushings Market is a vast and dynamic sector that plays a crucial role in the electrical industry. Transformer bushings are insulating devices that are used to bring high voltage conductors through grounded barriers. They are an integral part of any transformer and are used to ensure the safe and efficient operation of these devices. The market for these bushings is global in nature, with demand stemming from various regions across the world. The market's value was pegged at US$ 406 million in 2022 and is projected to reach US$ 521.6 million by 2029. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 3.6% during the forecast period of 2023-2029.
Solid Type, Resin Impregnated Paper, Oil Impregnated Paper in the Global Transformer Bushings Market:
The Global Transformer Bushings Market is segmented based on the type of bushing, which includes Solid Type, Resin Impregnated Paper, and Oil Impregnated Paper. Solid Type bushings are made from solid insulation material, usually porcelain or composite materials, and are used in transformers that operate at high voltages. Resin Impregnated Paper bushings, on the other hand, are made by impregnating paper with resin to provide insulation. These bushings are lightweight and have excellent electrical properties, making them suitable for use in a variety of applications. Oil Impregnated Paper bushings are made by impregnating paper with oil, which provides excellent insulation and cooling properties. These bushings are commonly used in oil-filled transformers.
Industry, Commercial, Residential in the Global Transformer Bushings Market:
The Global Transformer Bushings Market finds usage in various areas including Industry, Commercial, and Residential sectors. In the industrial sector, transformer bushings are used in power transformers, distribution transformers, and other high voltage equipment. They are crucial for the safe and efficient operation of these devices. In the commercial sector, transformer bushings are used in buildings and other commercial establishments to ensure the safe distribution of electricity. In the residential sector, these bushings are used in household appliances and other electrical devices. The use of transformer bushings in these sectors is driven by the need for safe and efficient electricity distribution.
Global Transformer Bushings Market Outlook:
The Global Transformer Bushings Market outlook highlights the key players in the market, which include Siemens, ABB, General Electric, Cedaspe, Hubbell, Nanjing Electric HV Bushing, Ankara Seramik A.S, Preis Group, MGC Moser-Glaser AG, ARTECHE Group, and others. These players collectively account for about 70% of the market. China is the largest market for transformer bushings, with a share of over 32%. The largest segment in the market is Resin Impregnated Paper, which holds a share of over 61%. The largest user segment is the industrial sector, with a share of over 56%.
| Report Metric | Details |
| Report Name | Transformer Bushings Market |
| Accounted market size in 2023 | US$ 421.9 million |
| Forecasted market size in 2029 | US$ 521.6 million |
| CAGR | 3.6 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Siemens, ABB, General Electric, Cedaspe, Hubbell, Nanjing Electric HV Bushing, Ankara Seramik A.S, Preis Group, MGC Moser-Glaser AG, ARTECHE Group |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
