Industrial Electrical Bushing Market Size

Industrial Electrical Bushing Market Size

Industrial Electrical Bushing Market Size in 2023 was valued at USD 1.2 billion and is anticipated to grow at a CAGR of 7.3% from 2024 and 2032, owing to the increasing demand for electricity worldwide, fuelled by industrialization and urbanization. This rising demand is propelling the need for efficient electrical infrastructure, where bushings play a critical role.

Many companies in this industry are establishing a crucial partnerships and collaborations to as a part of business expansion strategy. It will further increase the demand for electrical bushings in industrial applications. Additionally, the growing adoption of renewable energy sources such as wind and solar power necessitates the expansion of electrical grids, further driving demand for bushings in transmission and distribution systems.
 

The emerging economies are taking continuous efforts to increase the power generation. For instance, according to the BP Statistical Review of World Energy 2021, sustainable power generation in the Asia-Pacific region reached 1,322 Terawatt-hours in 2022. This surge in power production is expected to continue, fuelling demand for infrastructure upgrades like transformers, switching equipment, and other components. As this trend persists, the need for electrical bushings is will also increase. Moreover, technological advancements in bushing materials and designs are enhancing their performance and reliability, leading to wider applications across various industries.