North America Electrical Bushing Market Analysis

North America Electrical Bushing Market Analysis

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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.