Allied Market Research

2024

Transformer Bushings Market

Transformer Bushings Market Size, Share, Competitive Landscape and Trend Analysis Report by Product Type, by Insulation Type and by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

EP : Equipment and Devices

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Author's: | Eswara Prasad
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A bushing is an insulated instrument that enables an electrical conductor to safely pass through a grounded conducting barrier in a transformer. The word 'bush' was used to coin the term 'bushing.' Porcelain is commonly used for bushings.  Aside from bushing, several types of insulation are used in transformers. A standard bushing design features a conductor, usually made of copper or aluminum, surrounded by insulation except for the terminal ends. High-voltage transformers primarily use bushings. Bushings are one of the most expensive parts of a transformer. Insulation between the line conductor as well as the earth is provided by the transformer bushing (tank). Transformer bushings are a crucial component of electrical power transmission equipment. It's an insulated device that allows current to pass over an earthed conducting obstacle. Transformer failures are frequently caused by faulty transformer bushings. Manufacturers try to create transformer bushings that are reliable, cost-effective, and long-lasting in order to avoid failure and loss. Demand for transformer bushings is expected to rise throughout the forecast period due to an increase in orders for gas insulated transformers for gas insulated substations (GIS).

COVID-19 Impact analysis

  • The transformer bushings market was negatively affected due to the outbreak of COVID-19 pandemic.
  • The transformer industries for oil-air transformer bushings, oil-oil transformer bushings and oil-gas transformer bushings were shut down during the COVID-19 pandemic this decreases the demand for transformer bushings.
  • The COVID-19 pandemic has caused the imposition of lockdown due to which the production of transformer bushings was halted because of problems such as raw material procurement as the global supply chain was affected.
  • The transformer bushings market faced downfall of revenue due to the COVID-19 pandemic owing to decreased demand from end-use industries.

Top Impacting Factors

  • The primary factors driving the growth of the transformer bushings market are rapid urbanization and industrialization. Furthermore, rising urbanization is fueling need for electricity infrastructure, boosting the transformer bushings market throughout the projection period. Due to the improvement of electrical transmission lines in the majority of countries, the transformer bushings industry is expected to stay lucrative in the near future. The requirement to improve electrical power grid dependability is another factor that drives the worldwide transformer bushings market. Because of the constantly expanding passenger count, significant fleet growth and broadening of the rail network in various regions are predicted to enhance demand for transformer bushings in railway networks. Furthermore, the global transformer bushings market is also likely to be driven by investments in the power sector to overcome chronic electricity shortages. The service life of a transformer is more than 40 years. However, the transformer bushings must be replaced at a predetermined interval since malfunctioning transformer bushings might cause the transformer to be damaged. As a result, the global transformer bushings market is projected to be driven by transformer bushing replacement operations. The maturity of the electric power sector in terms of expansion in developed countries is expected to slow market growth for transformer bushings in the coming years. Many transformer bushings producers are focusing on manufacturing components with a long life cycle and improving material quality. Furthermore, the risk of fire connected with some transformer bushing materials could stymie the total market.

Market Trends

  • The power sector is likely to continue prosperous in the next years, this is attributed to Chinese government's increased focus on expanding its existing electricity generation system. The need for high-voltage transformer bushings is expected to skyrocket.
  • The expansion of China's high-speed rail network in order to enhance economic growth is expected to help the transformer bushings market flourish. The need for transformer bushings is expected to rise as a result of the aforementioned issue.
  • Countries in Asia-Pacific region have also noticed the rising demand for power, and as a result, they have been investing in more resilient electricity infrastructure in order to boost regional economic growth.
  • Additionally, due to a number of government initiatives and schemes aimed at improving power supply in urban and rural regions, the Indian transformer bushing market is expected to see significant demand development. Brazil is the largest energy market in Latin America, and the electric power sector is likely to receive major investments in the next years.
  • Transformer bushing demand is expected to rise as the number of renewable energy power plants in Western Europe and North America increases.
  • Product launches, acquisitions, and partnerships are among the leading players' growth tactics, all of which contribute to the global growth of the transformer bushings market. Key players focusing on transformer bushings, on the other hand, use product launch as a growth strategy to expand their market share.

Key Benefits of the Report

  • This study presents the analytical depiction of the transformer bushings industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the transformer bushings market share.
  • The current market is quantitatively analyzed to highlight the transformer bushings market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed transformer bushings market analysis based on competitive intensity and how the competition will take shape in coming years.

Transformer Bushings Market Report Highlights

Aspects Details
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By Insulation Type
  • Oil Impregnated Paper (OIP) bushings
  • Resin impregnated paper (RIP) bushings
  • Resin Impregnated Synthetic (RIS) bushings
  • Porcelain bushings
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By Product Type
  • Bushings for AC transformers
  • Bushings for DC transformer
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By Application
  • Oil-Air transformer bushings
  • Oil-Oil transformer bushings
  • Oil-Gas transformer bushings
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By Region
  • Asia-Pacific  (China, India, Japan, South Korea, Rest of Asia-Pacific)
  • North America  (United States, Canada, Mexico)
  • Europe  (Germany, United Kingdom, France, Italy, Rest of Europe)
  • South America  (Brazil, Argentina, Rest of South America)
  • Middle-East and Africa  (Saudi Arabia, South Africa, Rest of Middle-East and Africa)
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Key Market Players

ABB, Crompton Greaves, Toshiba, Hyosung Corporation, Mitsubishi Electric, Hitachi, Siemens, Alstom, Fuji Electric, Eaton

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Transformer Bushings Market

Global Opportunity Analysis and Industry Forecast, 2023-2032