North America Electrical Bushing Market Size - By Bushing Type (Oil Impregnated Paper (OIP), Resin Impregnated Paper (RIP)), By Insulation (Porcelain, Polymeric, Glass), By Voltage, By Application, By End Use, Country Insights & Forecast, 2024 – 2032

North America Electrical Bushing Market Size

North America Electrical Bushing Market size was valued at USD 898.2 million in 2023 and is projected to grow at a CAGR of 6.6% between 2024 and 2032. In recent years, the rise of population growth has notably increased the electricity demand. The thriving GDP of developed economies has not only led to the proliferation of new industrial facilities but also heightened the importance of ensuring a dependable power supply.
 

Consequently, manufacturers across the region are prioritizing the reinforcement of their current power infrastructure by adopting efficient, secure, and sustainable products. For instance, in August 2022, Maschinenfabrik Reinhausen GmbH (MR) has acquired ADVANCED TESTING SYSTEMS INC, enhancing its proficiency in electrical testing for medium and high voltage equipment in the United States.
 

North America Electrical Bushing Market Trends

In recent years, regulators across the region have not only maintained investments in advancing technologies but have also expanded their capabilities in analytics and modeling to adapt to evolving policy and technological requirements. For instance, in August 2022, the U.S. government introduced the Inflation Reduction Act of 2022, which includes new measures and amendments aimed at enhancing energy security, efficiency, and the transition to sustainable alternatives. This legislation also encompasses initiatives to modernize the electricity grid and promote the development of long-distance transmission lines within the country, which will foster the growth of electrical bushing industry.
 

North America Electrical Bushing Market Analysis

Based on bushing type, the market is segmented into resin impregnated paper (RIP), oil impregnated paper (OIP), and others. The resin impregnated paper (RIP) segment is anticipated to reach over USD 400 million by 2032. Resin impregnated paper (RIP) electrical bushings play a crucial role in high-voltage direct current (HVDC) transmission systems, serving as essential components in HVDC converter stations and substations. As HVDC projects continue to expand across the region, the demand for RIP electrical bushings is increasing, thereby driving market growth.
 

North America electrical bushing market is categorized into transformer, switchgear, and others based on application. The switchgear segment is poised to expand at a CAGR of more than 5.5% through 2032. Switchgear serves the purpose of de-energizing equipment and clearing faults downstream. Currently, there is an increasing need for bushings to accompany high-voltage switchgear.
 

Electrical bushings have been incorporated into large transmission components and are expected to experience growth due to the growing demand for high-tension transmission networks and the rapid expansion of grid networks. The ongoing modernization and renovation of existing grid infrastructure are fueling the deployment of switchgears, which is expected to drive the demand for electrical bushings concurrently.
 

The U.S. electrical bushing market is set to surpass over USD 950 million by 2032. The increasing necessity for retrofitting and modernizing the existing grid network to uphold energy security is poised to stimulate the North American market. Growing power loads and aging infrastructure have strained the system, elevating the risk of widespread blackouts. The adoption of technologies geared towards enhancing
performance and cost-effectiveness in T&D systems will help address these concerns.
 

For instance, in October 2023, the U.S. government approved a USD 1.3 billion initiative to construct three new interstate power lines. This strategic initiative is part of a broader effort to modernize the aging electric grid infrastructure nationwide and facilitate the transition to clean energy sources.
 

North America Electrical Bushing Market Share

ABB holds a significant position in the North America electrical bushing industry, renowned for its extensive expertise in designing and manufacturing a wide range of energy storage technologies. These include electrochemical and electromechanical systems, among others. With a rich history in the industry, the company has successfully provided numerous solutions tailored to a diverse range of applications.
 

North America Electrical Bushing Market Companies

Some of the major industry leaders operating across the North America 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
• Liyond
• Meister International, LLC
• Maschinenfabrik Reinhausen GmbH
• Nexans
• Polycast
• Poinsa
• PFISTERER Holding SE
• RHM International, LLC
• Siemens Energy
• Trench Group
   

North America Electrical Bushing Industry News

• In November 2022, Meister International has announced its successful acquisition by Power Grid Components, Inc., marking a notable milestone as the fifth acquisition in the electric power grid industry. This finalized transaction cements Meister's position as a valuable distributor specializing in high and medium voltage porcelain and polyester insulators, bushings, bus, and related utility hardware. As a part of Power Grid, Meister's expertise enriches the product portfolio, enhancing its capacity to deliver high-quality solutions for the construction, maintenance, and advancement of the North American electric power grid.
   
• In October 2021, GE-Prolec Transformers, Inc., a subsidiary of the joint venture between GE and Xignux, has finalized the acquisition of Transformer Solutions from SPX Corporation. Well-known for its transformers, services, and components, this strategic acquisition positions Prolec GE to cater comprehensively to the expanding market with an extended portfolio of innovative and sustainable electrical energy solutions.
   

The market research report for electrical bushing in North America includes in-depth coverage of the industry with estimates & forecast in terms of “’000 Units” & “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 countries:

• U.S.
• Canada
• Mexico