Column: Market review
Transformer bushings market trends Global market development Introduction We estimate that the global market for transformer bushings was worth a little under US$1.4 billion in...
bySteve AUBERTIN
Transformer bushings market trends
Global market development
- Introduction
We estimate that the global market for transformer bushings was worth a little under US$1.4 billion in 2016. The market is estimated to grow at an overall rate of 5.5% CAGR through to 2026, by which time it will be worth US$2.4 billion at 2016 dollar values. These estimates include all types of bushings used in the production and operation of power and distribution transformers; from very simple primary solid or bulk bushings on pole top distribution transformers through to the extremely complex power transformer primary bushings that may operate at voltages in excess of 1 MV.
The global market is dominated by Asia with a 48% share of the market in 2016, rising to a 54% share in 2026. Before delving deeper into this data set, it is important to provide a little detail on the methodology and definitions of this market segment. The market for transformer bushings comprises two elements; new products supplied for new transformers, and replacement bushings sold either to upgrade an existing installation or as a replacement for a bushing that has suffered damage during the working life of the transformer.
The new bushings for new transformers are generally purchased by the transformer manufacturer for delivery to the place of manufacture, no matter where the transformer will ultimately be installed. A transformer ordered by a utility company in Country A from a transformer manufacturer based in Country B may rightly be considered a part of the transformer market in Country A; whereas the bushings for that transformer are considered to be a part of the bushings market in Country B. Replacement bushings are generally ordered by, and are for delivery to, the transformer owner where the unit is operating.
The market for new bushings in any given country is therefore dependent on the transformer manufacturing base in that country, whereas the replacement market is dependent on the past and present transformer market in that country.
For this reason, the Western European market for bushings is nearly 16% of the global market whilst the transformer market is only 12%; and similarly the North American bushings market is 13% and the transformer market is 15%; the Asian bushing market is 48% and the transformer market is 46% of the global total.
To read the article, subscribe and choose the option which suits you best. We offer both free and paid options, and the registration takes only a minute.
Subscribe to Transformers Magazine
