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Electrical Bushing Market Trends

Report ID: GMI3718
Published Date: Apr 2024
Report Format: PDF

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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.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of electrical bushing was reached USD 4.3 billion in 2023 and is expected to register 6.9% CAGR from 2024 to 2032, owing to the favorable regulatory reforms aimed at expanding existing grid infrastructure worldwide.

The oil impregnated paper (OIP) segment is expected to reach over USD 4 billion by 2032 due to global transition towards renewable energy sources including wind and solar power, leading to a growing need for transformers and switchgear.

Europe electrical bushing industry is expected to exceed USD 1.5 billion by 2032 due to rising demand for smart grid infrastructure and regulatory bodies directing investments towards supporting the development of sustainable electricity generation in the region.

Poinsa, Polycast, PFISTERER Holding SE, Rajeev Industries, RHM International, LLC, SATRAJ CERAMICS, Siemens Energy, SAVER S.p.A., THORNE & DERRICK INTERNATIONAL, Trench Group, and Yash Highvoltage Insulators Pvt. Ltd., are some of the major electrical bushing companies worldwide.