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Industrial Silicon-Based Electrical Bushing Market Size

Report ID: GMI12094
Published Date: Nov 2024
Report Format: PDF

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Industrial Silicon-Based Electrical Bushing Market Size

The global industrial silicon-based electrical bushing market size was valued at USD 171.8 million in 2023 and is expected to witness a CAGR of 7.6% between 2024 and 2032. Silicon-based bushings are gaining popularity in industry. They resist moisture and extreme temperatures well, making them ideal for tough environments. These bushings need less maintenance and last longer, saving time and money for businesses. Stricter global environmental rules are pushing the electrical bushing industry toward greener manufacturing. Silicon materials, prized for lasting long and being recyclable, support these sustainability efforts and help reduce environmental impact.

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Smart grid projects, particularly in North America and Europe, are fueling demand for advanced silicon-based bushings. These bushings offer enhanced monitoring capabilities, aiding in data collection and diagnostics to improve grid performance. Smart grid projects, particularly in North America and Europe, are fueling demand for advanced silicon-based bushings. These bushings offer enhanced monitoring capabilities, aiding in data collection and diagnostics to improve grid performance.

Industrial Silicon-Based Electrical Bushing Market Report Attributes
Report Attribute	Details
Base Year:	2023
Industrial Silicon-Based Electrical Bushing Market Size in 2023:	USD 171.9 Million
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	7.6%
2032 Value Projection:	USD 334.4 Million
Historical Data for:	2021 - 2023
No. of Pages:	80
Tables, Charts & Figures:	20
Segments covered:	Insulation, Voltage and Application
Growth Drivers:	Refurbishment of existing grid networks Rapid smart grid adoption Escalating demand for reliable & continuous electricity
Pitfalls & Challenges:	Fluctuating raw material cost

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Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of industrial silicon-based electrical bushing reached USD 171.8 million in 2023 and is set to grow at a 7.6% CAGR from 2024 to 2032, driven by the increasing adoption of silicon-based bushings due to their resistance to moisture and extreme temperatures.

The porcelain segment is projected to surpass USD 106.8 million by 2032, facing challenges such as the need for strong insulation and dielectric properties in high-voltage transmission and distribution networks.

The switchgear segment is anticipated to experience a growth rate exceeding 7.1% through 2032, propelled by the excellent heat resistance and insulation properties of silicon-based bushings.

The U.S. market is projected to exceed USD 43.2 million by 2032, led by the need to upgrade the aging power grid and the superior insulation properties of silicon-based bushings.