As cited by the research report titled ‘Global Electrical Bushings Market Size study, by type (Oil Impregnated Paper, Resin Impregnated Paper, Others) by Application (Transformers, Switchgears, Others) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global electrical bushings market was valued at USD 2.66 billion in 2020 and is estimated to expand at a CAGR of 3.86% over 2021-2027, further reaching USD 3.47 billion in valuation by the end of study duration.
 

Rising demand from various end user industries like the railways, coupled with growing demand for electricity generation & transmission are the major factors driving global electrical bushings market growth. As per bp Statistical Review of World Energy, the worldwide electricity generation rose to 27004.7 TWh, in 2019 from around 25643 TWh, in 2017.
 

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For the record, electrical bushing is an inorganic material that enables an electric field to safely pass through a transmitting boundary without forming any electrical connection with it.
 

Moreover, increasing focus on the insulation bushings along with rising demand for HVDC (high-voltage direct current) transmission systems are further favoring the industry outlook. On the downside, rising number of new players leading to intense competition and decline in the demand & supply of electrical bushing due to the COVID-19 pandemic are likely to impede the market progression over the projected timespan.
 

Based on type, global electrical bushings industry space is segmented into resin impregnated paper, oil impregnated paper, and others. Considering the application range, the marketplace is divided into switchgears, transformers, and others.
 

The geographical assessment of this business vertical extends to Asia Pacific, Europe, Latin America and North America. The report cites that Asia Pacific is likely to emerge as a key revenue generator for the overall market over the assessment period, on account of rising demand for electricity generation & transmission in the region.
 

Meanwhile, Europe is anticipated to showcase strong growth rate over the study period 2021-2027, owing to growing demand from the end user industries generating lucrative prospects for the business scenario.
 

Major players profiled in the worldwide electrical bushings industry domain are CG Power and Industrial Solutions Limited, Nexans S.A., Bharat Heavy Electricals Limited, Eaton Corporation PLC, Siemens AG, ABB Ltd, Gamma Insulator Corporation, General Electric Company, and RHM International LLC.