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Polymeric Electrical Bushing Market Analysis

Report ID: GMI8886
Published Date: Apr 2024
Report Format: PDF

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Polymeric Electrical Bushing Market Analysis

Polymeric Electrical Bushing Market Size, By Bushing Type, 2022 - 2032 (USD billion)

Based on bushing type, the market is segmented into resin impregnated paper (RIP), oil impregnated paper (OIP), and others. The OIP bushing type is anticipated to exceed over USD 1.45 billion by 2032. As the world increasingly shifts towards renewable energy sources like wind and solar power, there arises a heightened demand for transformers and switchgear. OIP electrical bushings are commonly utilized in such applications owing to their performance and suitability for high-voltage environments. Many nations are actively investing in upgrading and extending their power grids to improve efficiency, reliability, and the smooth integration of renewable energy sources. This surge in activity is driving the demand for OIP electrical bushings.

Polymeric Electrical Bushing Market Revenue Share, By Voltage, 2023

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Polymeric electrical bushing market is segmented into medium, high, and extra high, based on voltage. The high voltage segment will grow at a CAGR of over 6.5% by 2032. High-voltage polymeric electrical bushings play a crucial role in ensuring the safe transmission of energy and maintaining a reliable power supply across utility networks. In recent decades, utilities have made substantial investments in the expansion of high-capacity transmission networks to facilitate the transmission of electrical signals over long distances. Consequently, there has been a notable surge in demand for high-capacity transmission components, including HV polymeric electrical bushings.

Asia Pacific Polymeric Electrical Bushing Market Size, 2022 - 2032 (USD Million)

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The Asia Pacific polymeric electrical bushing market is forecasted to reach more than USD 750 million by 2032. The Asia-Pacific region is experiencing significant growth in renewable energy sources, such as solar and wind power. Polymeric electrical bushings are being increasingly utilized in renewable energy infrastructure due to their lightweight design, durability, and ability to withstand harsh environmental conditions.

The Australian government revealed its Budget for the fiscal year October 2022–23, outlining allocations of funds for a range of initiatives and programs. With growing concerns about energy efficiency and environmental sustainability, there is a growing emphasis on using energy-efficient electrical components. Polymeric electrical bushings offer advantages such as lower energy losses and reduced environmental impact compared to traditional porcelain bushings.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

Polymeric Electrical Bushing industry size was registered USD 1.37 billion in 2023 and will demonstrate a 7.3% CAGR between 2024 and 2032 owing to industrialization and urbanization, fuels the need for efficient and reliable power transmission and distribution systems.

The oil impregnated paper (OIP) bushing type segment will capture USD 1.45 billion in 2032, attributed to superior insulation properties and reliability of OIP bushings, especially in high voltage applications.

Asia Pacific polymeric electrical bushing industry secured 750 million in 2023, driven by rapid industrialization, infrastructural developments, and increasing demand for electricity.

Key Players operating in the market are ABB, CG Power and Industrial Solutions, Eaton, Elliot Industries, General Electric, GIPRO, Hitachi Energy, Hubbell, Meister International, LLC, Nexans, Siemens Energy among others.