Electrical Bushing Market Size - By Bushing Type (Oil Impregnated Paper (OIP) {Mineral Based, Silicon Based}, Resin Impregnated Paper (RIP)), By Insulation (Porcelain, Polymeric, Glass), By Voltage, By Application, By End Use & Forecast, 2024 – 2032

Electrical Bushing Market Size

Electrical Bushing Market was valued at USD 4.3 billion in 2023 and is estimated to grow at a CAGR of 6.9% from 2024 to 2032. In recent years, the industry has seen growth propelled by favorable regulatory reforms aimed at expanding existing grid infrastructure. Regulators have prioritized the provision of affordable and uninterrupted electricity, resulting in the implementation of various reforms and policies.
 

Moreover, there is a concerted effort to rebuild electric infrastructure in war-affected GCC nations to bolster economic growth, which will further drive product demand. For instance, according to the EIA, there is expected to be a significant increase in per capita electricity consumption in the Gulf region from 2007 to 2035, primarily due to population growth.
 

Electrical Bushing Market Trends

Over the last decade, the rise of globalization and the growing global population have substantially increased the demand for electricity worldwide. For instance, in June 2023, BP announced that the global primary energy consumption reached more than 604.04 exajoules (EJ) in 2022, marking an increase from 566.49 EJ in 2020. The flourishing GDP of both developed and emerging economies has heightened the importance of ensuring a reliable power supply. Consequently, countries are placing greater emphasis on reinforcing their existing power supply networks by installing efficient, secure, and sustainable products.
 

Furthermore, electrical bushings, renowned for their versatile properties and cost-effective pricing, are increasingly replacing traditional counterparts across various application areas, further driving their widespread adoption.
 

Electrical Bushing Market Analysis

Based on bushing type, the OIP segment is set to reach over 4 billion by 2032. With the global transition towards renewable energy sources including wind and solar power, there is a growing need for transformers and switchgear. OIP electrical bushings are frequently employed in these applications due to their performance and compatibility with high-voltage environments. Various countries are actively investing in the modernization and expansion of their power grids to enhance efficiency, reliability, and the seamless integration of renewable energy sources, which is fueling the demand for OIP electrical bushings.
 

Based on the end use, the utility segment is anticipated to grow at a CAGR of over 6.1% through 2032. The utility sector is poised for robust growth as developments in grid infrastructure intensify to meet the surging energy demand. Continuous retrofitting of existing networks, coupled with increasing investments in microgrid installations, will bolster the industry's prospects. Numerous regions are expanding their electrical grids to accommodate rising energy needs and enhance grid reliability and resilience. This expansion and modernization frequently entail the installation of new transformers and related bushings, especially in utility-scale substations.
 

Europe electrical bushing market is forecasted to exceed USD 1.5 billion by 2032. Rising demand for smart grid infrastructure has provided significant growth to the demand of electrical bushings. Regulatory bodies are directing investments towards supporting the development of sustainable electricity generation, distribution, and transportation networks. Increasing funding from European regulatory authorities towards the expansion and modernization of electrical grid infrastructure will drive up the demand for electrical bushings.
 

Electrical Bushing Market Share

ABB commands a substantial presence in the electrical bushing industy, distinguished for its vast proficiency in crafting and producing diverse varieties of electrical bushings. These encompass polymeric and porcelain types, among others. With a longstanding legacy in the electrical component industry, the company has effectively delivered substation solutions catering to a diverse array of applications.
 

Electrical Bushing Market Companies

Some of the major key players operating across the electrical bushing industry are:

• ABB
• Barberi Rubinetterie Industriali S.r.l.
• CG Power and Industrial Solutions
• Eaton
• Elliot Industries
• General Electric
• GIPRO
• Hitachi Energy
• Hubbell
• Jiangxi Johnson Electric Co.,Ltd.
• Liyond
• Meister International, LLC
• Maschinenfabrik Reinhausen GmbH
• Nexans
• Poinsa
• Polycast
• PFISTERER Holding SE
• Rajeev Industries
• RHM International, LLC
• SATRAJ CERAMICS
• Siemens Energy
• SAVER S.p.A.
• THORNE & DERRICK INTERNATIONAL
• Trench Group
• Yash Highvoltage Insulators Pvt. Ltd.
   

Electrical Bushing Industry News

• In September 2023, CG Power, part of the Murugappa Group, announced that they will invest in capacity expansion across units, responding to their robust order intake for Q2 2023. The expansion includes enhancing manufacturing capacity for instrument transformers and condenser bushings in Nashik and large industrial machine units in Mandideep.
   
• In April 2023, Eaton announced that they have successfully acquired stake in Jiangsu Ryan Electrical Co. Ltd., they make power distribution system and sub-transmission transformers. This strategic move enhances Eaton's global presence and strengthens its position in the energy, utility, and industrial markets.
   

This electrical bushing market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume & revenue in ‘000 Units and USD Million from 2019 to 2032, for the following segments:

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Market, By Bushing Type

• Oil Impregnated Paper (OIP)
  • Mineral-Based
  • Silicon-Based
  • Others
• Resin Impregnated Paper (RIP)
• Others

Market, By Insulation

• Porcelain
• Polymeric
• Glass

Market, By Voltage

• Medium Voltage
• High Voltage
• Extra High Voltage

Market, By Application

• Transformer
• Switchgear
• Others

Market, By End Use

• Industries
• Utility
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • Russia
  • UK
  • Italy
  • Spain
  • Netherlands
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
• Latin America
  • Brazil
  • Argentina