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

Medium Voltage Electrical Bushing Market Size

Medium Voltage Electrical Bushing Market was valued at USD 1.05 billion in 2023 and is estimated to grow at a CAGR of 7.1% between 2024 and 2032. The increasing adoption of smart grid technologies is driving demand for medium voltage bushings that can support advanced monitoring and control features. These bushings are equipped with sensors and communication modules to enable real-time data collection and diagnostics, facilitating predictive maintenance and enhancing grid reliability. Furthermore, the global push towards renewable energy sources, such as wind and solar power, is creating significant demand for medium voltage bushings.
 

Companies in the medium voltage bushing market are engaging in strategic collaborations, mergers, and acquisitions to enhance their product portfolios and expand their market presence. For instance, in April 2023, ABB introduced a new range of smart bushings equipped with integrated sensors for real-time condition monitoring. These bushings are designed to enhance grid reliability and reduce maintenance costs by providing early warning of potential issues. Moreover, partnerships between key industry players and research institutions are fostering innovation and accelerating the development of next-generation bushing technologies.
 

Medium Voltage Electrical Bushing Market Trends

Recent developments in materials science and manufacturing processes have led to the production of high-performance bushings with enhanced durability, insulation properties, and operational efficiency. Innovations such as composite and hybrid insulators are gaining traction, offering improved mechanical strength and environmental resistance. Stringent regulatory standards and guidelines are influencing the design and manufacturing of medium voltage bushings. Compliance with international standards such as IEC, ANSI/IEEE, and others ensures product safety, reliability, and performance. Companies are investing in certification and testing to meet these regulatory requirements, driving market growth.
 

Medium Voltage Electrical Bushing Market Analysis

Based on bushing type, the resin impregnated paper (RIP) segment is anticipated to reach more than USD 230.5 million by 2032. Innovations in resin formulations and impregnation techniques are enhancing the performance and reliability of RIP bushings. These advancements are resulting in bushings with better thermal stability, higher dielectric strength, and improved moisture resistance, making them suitable for a wider range of applications.
 

Based on application, the transformer segment is projected to grow at a CAGR of over 6.1% through 2032. The increasing integration of renewable energy sources like wind and solar into the power grid is driving demand for medium voltage transformer bushings. These bushings are essential for the reliable and efficient transmission of electricity from renewable energy plants to the grid. The development of bushings capable of handling fluctuating loads and harsh environmental conditions typical of renewable installations is a key focus area.
 

Asia Pacific medium voltage electrical bushing market is expected to exceed over USD 750 million by 2032. The Asia Pacific region is experiencing substantial infrastructure development, particularly in the energy sector. Rapid urbanization and industrialization are driving the need for reliable and efficient medium voltage electrical components, including bushings. For instance, The Indian government’s National Smart Grid Mission (NSGM) aims to modernize the country’s electricity network. This initiative includes upgrading medium voltage infrastructure with smart, reliable components such as advanced electrical bushings. Governments in the region are heavily investing in upgrading and expanding the electrical grid to support economic growth and meet increasing energy demands.
 

The U.S. market is witnessing significant technological progress in the design and manufacturing of medium voltage bushings. Innovations such as the use of composite materials and advanced insulation technologies are enhancing the durability, efficiency, and performance of bushings. These advancements are crucial for meeting the demanding requirements of modern electrical grids.
 

Medium Voltage Electrical Bushing Market Share

ABB holds a leading position in the medium voltage electrical bushing industry, recognized for its extensive expertise in manufacturing a wide range of electrical bushings. This includes both conventional types and their variations, as well as other related products. Building on a strong legacy in the electrical component industry, ABB has successfully provided customized substation solutions to meet a diverse array of sectors.
 

Medium Voltage Electrical Bushing Market Companies

• 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
• Siemens Energy
   

Medium Voltage Electrical Bushing Industry News

• In February 2024, Jiangxi Johnson Electric Co., Ltd. has announced a significant milestone with the commencement of construction at their Qiangsheng Electric Porcelain Factory. This development marks the start of a new chapter for the factory, underscoring its commitment to growth and innovation in electric porcelain manufacturing.
   
• In November 2023, Hitachi Energy's transformer bushing factory in Vadodara received the Recognition Award for RIP bushings from Bharat Heavy Electricals Limited (BHEL), a key partner in Hitachi Energy's Insulation and Component Business. The award, presented by Shri Mahendra Pandey, India's Minister of Heavy Industries, acknowledges Hitachi Energy's commitment to quality and innovation, particularly in advancing the "Make in India" initiative.
   

This medium voltage electrical bushing market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and 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 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