OIP Electrical Bushing Market Size - By Type (Mineral Based, Silicon Based), By Insulation (Porcelain, Polymeric, Glass), By Voltage, By Application, By End Use, Regional Outlook & Forecast,2024 – 2032

OIP Electrical Bushing Market Size

OIP Electrical Bushing Market was valued at USD 2.63 billion in 2023 and is estimated to grow at a CAGR of over 6.3% between 2024 and 2032, driven by the increasing investments in infrastructure development, particularly in emerging economies. The burgeoning demands of electricity, propelled by urbanization, industrialization, and the increasing adoption of renewable energy sources, have underscored the necessity for robust transmission and distribution networks to cater to this escalating need.
 

Growing environmental concerns and regulatory mandates are prompting utilities to adopt eco-friendly alternatives, including OIP electrical bushings with reduced environmental impact. For instance, in June 2023, as documented in the Statistical Review of World Energy, a collaborative effort between the Energy Institute, British Petroleum (BP), and other partners, global primary energy consumption exceeded 604.04 exajoules (EJ) in 2022. This marked a significant rise from the 566.49 EJ recorded in 2020, representing a growth of over 6.6% over the course of two years. Additionally, manufacturers are increasingly focusing on sustainable practices, such as using biodegradable insulating oils and recyclable materials, to align with sustainability goals and enhance market competitiveness.
 

OIP Electrical Bushing Market Trends

The integration of digital technologies and smart grid solutions is revolutionizing the utility sector, driving the adoption of intelligent OIP electrical bushings equipped with sensors and communication capabilities. Real-time monitoring, predictive maintenance, and remote diagnostics enable proactive asset management, improving grid reliability and performance. The OIP electrical bushing industry is witnessing consolidation activities as key players seek to expand their product portfolios, geographic presence, and technological capabilities through mergers, acquisitions, and strategic partnerships. Collaborations between manufacturers, utilities, and research institutions are fostering innovation and accelerating product development cycles.
 

OIP Electrical Bushing Market Analysis

Based on type, the mineral based segment is projected to exceed over USD 3.05 million by 2032, driven by escalating energy demands, infrastructure modernization initiatives, and the continued expansion of renewable energy sources. Technological innovation, sustainability initiatives, and strategic collaborations will shape the future trajectory of the market, offering opportunities for differentiation and market leadership.
 

Based on voltage, the high voltage segment is expected to grow at a CAGR of more than 5.4% through 2032. Intense competition and pricing pressures pose challenges for manufacturers in maintaining profitability while meeting customer expectations for quality and reliability. Cost optimization strategies, such as streamlining production processes and supply chain management, are crucial for sustainable business growth.
 

Asia Pacific OIP electrical bushing market is anticipated to reach over USD 1.55 billion by 2032, propelled by escalating energy demands, infrastructure expansion projects, and the increasing adoption of renewable energy sources. Factors such as rapid industrialization, urban migration, and government initiatives to enhance electricity access are driving investments in transmission and distribution infrastructure, thereby boosting the demand for OIP electrical bushings.
 

The U.S. market for Oil-Impregnated Paper (OIP) electrical bushings is experiencing notable growth, driven by the modernization efforts of Transmission and Distribution (T&D) systems. These initiatives prioritize cost-effectiveness and enhanced performance. For instance, the U.S. government in October 2023 approved a budget of USD 1.3 billion project to construct three new interstate power lines. This initiative forms a critical part of a broader strategy aimed at modernizing the country's existing electrical infrastructure and facilitating the transition to renewable energy sources.
 

OIP Electrical Bushing Market Share

ABB holds a prominent position within the OIP electrical bushing industry, recognized for its extensive expertise in manufacturing various types of electrical bushings. This includes a wide range of traditional OIP variants as well as other specialized offerings. Building upon its strong legacy in the electrical component sector, the company has successfully provided tailored substation solutions to meet a diverse spectrum of application requirements.
 

OIP 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
   

OIP Electrical Bushing Industry News

• In November 2022, Meister International announced that they have been successfully acquired by Power Grid Components, Inc., marking a significant development as the fifth acquisition in the electric power grid industry. The transaction, finalized, solidifies Meister's standing as a valuable distributor specializing in high and medium voltage porcelain and polyester insulators, bushings, bus, and related utility hardware.
   
• In June 2022, Maschinenfabrik Reinhausen (MR) announced that they will supply transformer accessories and bushings from its Sao Paulo facility since June. With over 40 years of expertise, MR do Brasil in Embu das Artes ensures swift deliveries, cost efficiency, and quality solutions for the power industry.
   

This OIP 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 Type

• Mineral Based
• Silicon Based
• 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 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