Electrical bushings market to reach $2.94 B by 2026
According to Verified Market Research, the global electrical bushings market was valued at $2.25 B in 2018 and is projected to reach $2.94 B by 2026, growing at a CAGR of 3.36% from 2019 to 2026.
Due to increasing demand from end users such as railways and infrastructure sectors, rising electrical network expenditure, increasing power consumption and a growing focus on renewable power generation, the market growth of electrical bushing is rapidly increasing. In addition, with the use of ANSI/IEEE standards, the composition and design are very effective in high voltage transmission and grid distribution which is also a driving factor for this market. However, ease of maintenance and strategic spare requirements are the factors which are hindering the growth of the electrical bushing market.
Some of the major players in the market are: Benchmarking, ABB, Siemens, GE, Eaton, Nexans Bharat Heavy Electricals Limited, CG Power and Industrial Solutions, Elliot Industries, Gamma.
Global electrical bushings market geographic scope is as follows: North America (U.S., Canada, Mexico), Europe (Germany, UK, France, rest of Europe), Asia Pacific (China, Japan, India, rest of Asia Pacific), Latin America (Brazil), rest of the world.
Source: Open PR