Future Market Insights (FMI) predicted that the value of the electrical bushings market share would be USD 2.5 billion by 2022. According to a recent market analysis report, from 2023 to 2033, it is predicted to grow at a CAGR of 4%. By the end of 2033, the market is expected to reach USD 3.9 billion based on this average annual growth rate.
Electrical bushings are crucial to make power distribution safe and effective while shielding people and equipment from electrical dangers. Furthermore, they support the overall performance and stability of the electrical infrastructure by offering dependable electrical connections and insulation.
Global electricity consumption is rising as a result of the quick urbanization and industrialization of the world, particularly in emerging economies. As a result, new power-producing facilities are getting built and existing ones are undergoing expansion, creating a massive demand for electrical bushings.
Key Takeaways from this market:
In 2022, the United States electrical bushings market was figured out to be worth around US$ 440 million. FMI reveals in its new report that the size of the domestic market could grow by 4% over the forecast years until 2033.
Within Europe, the sales of electrical bushings in the United Kingdom are anticipated to expand at about 3.8% CAGR from 2023 to 2033. It indicates the absolute dollar growth rate of the regional market could be around US$ 42.6 million over the given time range.
According to the FMI market report, China is expected to have a market share of US$ 805.6 million by the year 2033. This shows the market’s anticipated growth trajectory in China could be higher at 3.9% over the projection time frame between 2023 and 2033.
Besides China, South Korea and Japan are two other significant international markets for electrical bushings based in the Asia Pacific region. Between 2023 and 2033, Japan is anticipated to expand at a CAGR of about 3.9%, whereas South Korea is anticipated to grow at 3.7%.
Key Segmentation:
By Product Type:
- Oil Impregnated Paper
- Resin Impregnated Paper
- Other Product Types
By Insulation Material Type:
- Porcelain
- Polymeric
- Glass
- Other Materials
By Application:
- Transformers
- Switchgear
- Other Applications
By End User: - Utility Sector
- Industrial Sector
- Other End Users
By Region: - North America Market
- Latin America Market
- Europe Market
- East Asia Market
- South Asia and Pacific Market
- Middle East and Africa (MEA) Market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
