RIP Electrical Bushing Market
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The global RIP electrical bushing market was valued at USD 551 million in 2024 and is expected to reach USD 1.16 billion by 2034, growing at a CAGR of 7.7% from 2025 to 2034. The expansion of renewable energy projects, such as wind and solar farms, is increasing the demand for RIP electrical bushings. These components are essential for connecting renewable energy sources to the power grid, as they provide reliable insulation and support in high-voltage systems. The need for efficient and stable energy transmission from renewable sources to the grid is driving the adoption of RIP bushings in new and upgraded electrical infrastructure projects.
The rising need to revamp current electrical systems, alongside substantial investments in grid infrastructure, is set to bolster business prospects. The lack of efficient electric networks in developing nations, along with a push to enhance existing infrastructure in developed countries, has fostered a promising business landscape. For instance, in 2023, more than 770 grid modernization were undergoing in the U.S.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| RIP Electrical Bushing Market size in 2024: | USD 551 Million |
| Forecast Period: | 2025 – 2034 |
| Forecast Period 2023 - 2032 CAGR: | 7.7 |
| 2023 Value Projection: | USD 1.16 Billion |
| Historical Data for: | 2021 – 2024 |
| No of Pages: | 131 |
| Tables, Charts & Figures: | 45 |
| Segments Covered: | Insulation, Voltage, Application, End Use and Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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Moreover, owing to rising objective of reduction in carbon elimination the rise in investment potential in renewable energy sector by different countries is expected to increase the demand for RIP electrical bushing. For instance, in 2024, Australia registered 9 billion investment for generating renewable energy of around 23 GW and battery of around 9GW. Additionally, growing number of EV charging station as the rising EV sales. This spontaneously increases demand for RIP electrical bushings. RIP electrical bushings are used in high voltage transformer and switchgear to reduce charging time and durability of charging infrastructures.
As the population rising the electricity demand is also increasing worldwide. The growing incidences of hurricane and other natural calamities leading to rising energy outage and thus, demand for uninterrupted power flow is also increasing. For instance, in November 2024, 1700 users in Queensland Australia witnessed severe power outage due to certain faults in power lines. RIP electrical bushing in case of power outage insulate transformers to prevent any faults. This will boost the demand for RIP electrical bushing in future.
The RIP electrical bushing industry has been observing a striking positive trend owing to growing demand for effective energy management from various end users such as EV infrastructures, green energy and others. This promotes numerous innovative initiations in the industry. Development of more eco-friendly and smart RIP electrical bushings being some of these innovations in the field. Usage of natural ester oil in the transformer systems including bushings is being adopted significantly. Natural ester oils are biodegradable and are less harmful than mineral oil used in the bushings and other electrical equipment. The growing initiatives to reduce greenhouse gas elimination companies are stepping into this change.
Moreover, rising smart grids and smart meters also rises the demand for RIP electrical bushing to monitor the energy consumption. For instance, according to the U.S. Department of Energy (DOE) more than 130 million smart meters were installed in the U.S as of 2023. Along with rising investment in smart grid technology also expected to rise the demand for RIP electrical bushing. For instance, in August 2024, government of the U.S. announced investment of USD 2.2 billion for restoration of power grids. Such technological innovation increases demand for RIP electrical bushings for grids to optimize the energy flow will rise the RIP electrical bushing market growth in focus.
Further innovations to align itself with the goal of environmental preservation across globe and reduce the carbon footprint many companies are using sustainable materials as coating in RIP electrical bushings. Furthermore, manufacturers are focusing on reducing waste production and introduce economical manufacturing process. For example, adoption of closed loop water and energy recycling process. These initiatives reduces the waste material. This initiative is cost-effective due to reduced cost in response to newly exploring for materials. Additionally, RIP electrical bushing integrated with IoT to develop effective RIP electrical bushings. The technology is used while manufacturing the RIP electrical bushings to offer real time data and avoid any failures or errors before the occurrence and suggest improvements. Such initiatives would help company’s to capture cost-sensitive user target.
Based on voltage, the market is segmented into medium voltage, high voltage and extra high voltage. The RIP electrical bushing industry reached USD 461.5 million, USD 505 million and USD 551 million in 2022, 2023 and 2024 respectively.
The RIP electrical bushing market by end use is segmented into industries, utility and others. The utility segment accounted for over 62.5% market share in 2024.
Top 5 companies including ABB, Eaton, General Electric, Siemens Energy, and Hitachi Energy held a market share of over 40% in 2024. Many market players are operating in RIP electrical bushing industry and players are working to develop cost-effective and eco-friendly RIP electrical bushings.
Among these companies ABB is one of the largest share holding company in the RIP electrical bushing market. Owing to its vast product offerings, widespread of geological clientele and strategic partnership with clients to offer eco-friendly RIP electrical bushing along the side of standard solutions. The demand for RIP electrical bushing is expected to boost as the renewable energy and electric vehicle industry constantly grow, especially in emerging countries such as China, and India.
Furthermore, supportive government regulations in the developing and developed countries, rising adoption of renewable energy, positive electrification of automotive industry and affordable labor cost further decreases prices of RIP electrical bushing and aids strong uphold of market in the cost-sensitive group of consumers. Other major companies including Eaton, General Electric, Siemens Energy, and Hitachi Energy are also poised to target significant share of the market in focus, particularly in power grid and substations target group and energy storage systems sectors.
Some of the major key players operating across the RIP electrical bushing market are:
Market, By Insulation
Market, By Voltage
Market, By Application
Market, By End Use
The above information has been provided for the following regions and countries:
Some of the major players in the RIP electrical bushing industry include 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, PFISTERER Holding SE, Poinsa, Polycast, Siemens Energy.
The U.S. RIP electrical bushing market was worth over 170.8 million in 2024.
The RIP electrical bushing market was valued at USD 551 million in 2024 and is expected to reach around 1.16 billion by 2034, growing at 7.7% CAGR through 2034.
The medium voltage segment is anticipated to cross 297 million by 2034.