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Polymeric Electrical Bushing Market Trends

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

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Polymeric Electrical Bushing Market Trends

The rapid advancement of digitalization, coupled with widespread adoption of smart artificial intelligence systems worldwide, has profoundly impacted society. In response, significant transformations are needed in the electricity infrastructure to align with global energy policy objectives and address long-term climate change goals.

For instance, The updated Renewable Energy Directive of 2023, referred to as RED III, outlines a target for the share of renewable energy sources (RES) within the European Union's energy consumption. This objective aims for 42.5% by 2030, representing an average across the entire EU. Furthermore, a fundamental change in energy policy objectives underpins the transformations within the electricity sector, facilitating the deployment of smart grid technologies. Consequently, this shift will promote the installation of polymeric electrical 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.