Polymeric Electrical Bushing Market

Polymeric Electrical Bushing Market Size

The global polymeric electrical bushing market was estimated at USD 1.49 billion in 2024 and is expected to grow at a CAGR of 7% from 2025 to 2034. Growing adoption of renewable energy sources comprising of solar, wind, and hydropower has led increasing requirement for electric power components including bushings. Polymer-based ones, for example, are very durable and resistant to harsh weather, which makes them ideal for use in renewable energy.

The demand for lightweight, efficient and inexpensive electrical components is increasing with the rapid expansion of transmission and distribution networks in emerging markets and urbanized countries. For instance, according to the International Energy Agency (IEA), the demand for electricity globally is set to increase with 3% each year until 2030 due to urbanization and industrialization in developing nations.

Advancements in materials like epoxy resins and silicone rubber have significantly improved the performance of polymeric bushings. For illustration, the U.S. Department of Energy states that modern polymeric materials can withstand temperatures up to 200°C, enhancing their durability and reliability in extreme conditions.

Smart grids enhance energy distribution and consumption, restrain transmission losses, and bolster grid reliability and resilience. For reference, according to the U.S. Department of Energy, smart grid technologies could reduce electricity consumption by more than 12% annually, saving consumers billions of dollars. Moreover, as consumers and businesses strive to cut energy costs and consumption, the demand for smart grids will intensifies.

Polymeric Electrical Bushing Market Trends

As the global economy shifts towards solar, wind, and hydropower energy, there has been a drastic increase in the need for reliable electrical equipment – bushings included. In addition, polymer-based bushings are becoming even more widely used due to their durability and resistance to weathering, making them ideal for renewable energy applications.

Advancements in energy storage systems, including batteries and pumped hydro storage, allow for the storage of excess energy and use during times when demand is greater. For instance, the U.S. Energy Information Administration (EIA) reported that there were 10.8 gigawatts of battery storage capacity during mid-2023, showing a large increase from past years. These new smart grids, combined with advanced storage solutions, can assist in better energy management, leading to an overall improved stability of the grid.

Compared to developing economies, aged grid infrastructure is more profound in developing economies. As a response to this, governments along with utility companies are investing in enhancing power grids into smart grids with the objective of minimal operational interruptions, maximizing efficiency, and supporting the ever-increasing share of renewable energy sources. This includes the use of smart meters, automated control systems, smart sensors, and grid analytics solutions.

Additionally, polymeric bushings are becoming more popular due to the reduction of weight, which permits improvement in fuel efficiency and lower CO2 emissions. With the shift toward more fuel-efficient aircraft, these polymeric bushings prove to be a preferred option compared to metal ones because they are significantly lighter.

Polymeric Electrical Bushing Market Analysis

• The global polymeric electrical bushing industry was valued at USD 1.27 billion, USD 1.38 billion, and USD 1.49 billion in 2022, 2023, and 2024, respectively. Based on winding, the industry can be categorized into two winding and auto transformers.
  
• The oil impregnated paper (OIP) segment is likely to exceed USD 1.72 billion by 2034. The Oil-impregnated Paper demand correlates with urbanization, industrial development, and technological advancement, which have been central factors for expansion in the T&D investment domain. With increases in electricity demand, automation of oil transmission, and the use of transformers and bushings for effective primary and secondary voltage supply, oil impregnated papers continue to be in high demand due to use in transformer bushings, where its exceptional electrical insulation and dielectric strength makes it most suitable.
  
• Resin technology has continuously improved the mechanical, thermal, and electrical properties of impregnated resin papers. The use of polymeric bushings in electrical systems with epoxy silicone and phenolic resins improves dielectric strength, wear resistance and durability in extreme conditions. New resin materials enhance electrical and mechanical resistance of the bushings, making them ideal for high-voltage transmission systems and power generation equipment.
  
• According to the voltage, the market can be classified vertically into three segments which are medium, high voltage and extra high voltage. Underwater cables and offshore wind farms are some of the remote areas where High Voltage Direct Current (HVDC) systems are used. These regions possess challenging conditions for traditional equipment due to the harsh environments, however, the reliability and performance of polymeric bushings make them ideal for use.
  
• The need for medium voltage electrical systems is escalating due to the increased automation in manufacturing processes, as well as the chemical and oil & gas industries. Polymeric bushings are ideal for medium voltage switchgear, transformers, and motor control centers within industrial automation. In addition, the increase in the construction of power generation plants, particularly in the renewable (wind, solar) and traditional energy sectors, drives the demand for medium voltage bushing reliable components.
  
• The extra high voltage segment is set to observe a growth rate of over 7.2% through 2034. EHV power lines are crucial for maintaining grid stability along with effective energy transmission to counter the intermittent nature of renewable energy sources. Renewable sources of energy bring high electrical stresses alongside the need for durable and dependable bushings in high voltage systems.
  

• Based on the application, the switchgear segment is set to lead the industry with major market share of over 60.7% in 2024 while growing at a positive CAGR through 2034. A number of countries, particularly in developed areas, are emphasizing the refurbishment of their aging transformer fleet. Polymeric bushings are perfect for these upgrades because they have an improved insulation property and an extended lifespan.
  
• There is an increased global electrical energy consumption across various industries, which is evident with the shift from electricity-based, as well as more efficient electric-powered systems. This includes the rise in demand for high-voltage motors, power electronics, and induction heating systems, all of which require reliable electrical insulation. Polymeric bushings are ideal for these applications due to their mechanical strength, dielectric properties, and long operational life.
  
• Polymeric bushings have better advantages over the conventional porcelain bushings as they are easier to install due to their compact configuration and lightweight. Hence their use in industrial and utility applications where there is limited space and need to reduce weight are becoming common.
  

• The U.S. polymeric electrical bushing market has reached a value of USD 293.8 million, USD 317 million, and USD 341.4 million in 2022, 2023, and 2024. The U.S. has been investing significantly in smart grid technology and utility companies are enhancing their grids for better reliability and efficiency. As part of this modernization, polymeric electrical bushings are increasingly substituting porcelain and oil-impregnated paper materials because of their better insulation and longevity.
  
• The APAC region is also rapidly urbanizing and industrializing, with China, India, and southeast Asia taking the lead. Specifically, the island and Indian parts of the region are propelling demand for robust electricity infrastructure, turbines, and systems used for the transmission, as well as the distribution of electricity. Furthermore, the durable and extreme condition sustaining performance of polymeric bushings makes them increasingly sought-after components for high voltage transformers, substations, and other electrical equipment.
  
• In China, manufacturers are investing considerably in advanced polymeric materials for the conversion of bushings. There is a growing trend towards the use of silicone rubber and resin-impregnated materials in bushing designs due to their better insulation, mechanical strength, and environmental resistance. The need for polymeric bushings is increasing for both medium and high voltage power transmission lines due to the demand for high-efficiency transmission systems in China, especially in urban and rural regions.
  
• Europe’s push towards new forms of industry coupled with transportation sector electrifications such as electric vehicles (EV), further generates a need for ever more sophisticated electrical components. Due to their high quality electrical insulation, polymeric bushings are increasingly used in high voltage charging stations, electric grid infrastructures, and smart grids.
  
• The Middle east alongside Africa is also beginning the investment phase towards renewable resources like solar in Saudi Arabia's vision 2030 plan, alongside wind and solar energy projects in Kenya, South Africa, and Morocco. These renewable systems make use of polymeric bushings at the turbines, transformers and other devices where safe, long lasting connections are essential.
  

Polymeric Electrical Bushing Market Share

Leading manufacturers consisting of GE, Nexans, ABB, Schneider Electric and Siemens Energy holds over 30% of the market share in 2024. The presence of such prominent players allows them to establish themselves as technology leaders by defining and setting industry standards. This also assists in attracting customers who tend to trust such established brands for large scale and critical infrastructure projects.

In addition, the other well-known major players are also likely to utilize their resources to form strategic partnerships or acquisitions for such companies in order to expand their capabilities and market reach. Such alliances assist them in penetrating new markets and diversifying product offerings to access new technologies as well as local manufacturing plants.

Polymeric Electrical Bushing Market Companies

• ABB continues with being a world leader in electrical automation and power technologies, as well as providing solutions for renewable energy systems and equips high voltage transformers and switchgear with their comprehensive range of polymeric electrical bushings. The company demonstrated its gross profit in 2024 for 11.21 billion dollars.
  
• GE is a market leader on the global scene in electrical equipment and power systems. The company specializes in offering high and extra high voltage equipment with a strong background in supplying polymeric electrical bushings for the transformers and switchgears.
  
• Siemens has consistently established itself as a leader in the global market for electricity transmission and industrial automation. The company polymeric bushings for transformers, switchgear and other electrical machineries with a focus on high voltage and renewable energy sources. The company' revenue exceeded USD 35.9 billion in 2024.
  
• Schneider Electric focuses on energy management and automation. The company provides novel electrical components, including polymeric bushings for power transformer and switchgear.
  
• Nexans is known as one of the best companies in the international trade of wires and cables. The company offers a wide range of products with specializations on high and super high voltage power transmission including polymeric bushings. The company reported the net income of USD 309.01 million in 2024.
  

Some of the key players operating across the polymeric electrical bushing market are:

• ABB
• Barberi Rubinetterie Industriali S.r.l.
• CG Power and Industrial Solutions
• Eaton
• Elliot Industries
• General Electric
• GIPRO
• Hitachi Energy
• Hubbell
• Jiangxi Johnson Electric
• Liyond
• Meister International
• Maschinenfabrik Reinhausen
• Nexans
• Poinsa
• Polycast
• PFISTERER Holding
• Siemens Energy
  

Polymeric Electrical Bushing Industry News

• In November 2023, the BHEL ,Hitachi Energy’s partner in the Insulation and Components Business, awarded the factory for RIP Bushings. The award was presented by Shri Mahendra Pandey, India’s Minister of Heavy Industries, recognizing Hitachi Energy for its contribution to “Make in India,’’ and appreciating the innovations and excellence it showcased.
  
• In September 2023, CG Power, a company of the Murugappa Group disclosed its plans to invest into growing the capacity in its units due to a high order intake during the second quarter of 2023. Expansions included increasing manufacturing of instrument transformers and condenser bushings in Nashik and increasing capacity for large industrial machines in Mandideep. These internal accrual financed expansions come after a double profit increase in Q3 2023 after sales increased by over 10 percent.
  

The polymeric electrical bushing market research report includes in-depth coverage of the industry with estimates & forecast in terms of “’000 Units” and “USD Million” from 2021 to 2034 for the following segments:

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Market, By Bushing Type

• Oil impregnated paper (OIP)
  • Mineral-based
  • Silicon-based
  • Others
• Resin impregnated paper (OIP)
• Others

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
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
• Latin America
  • Brazil
  • Argentina