Utility Scale Silicon-Based Electrical Bushing Market
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The global utility scale silicon-based electrical bushing market was estimated at USD 377.4 million in 2023 and is assessed to witness a CAGR of 6.8% by 2032. The demand for utility-scale silicon-based electrical bushings will grow as the world seeks to take advantage of many new sources of renewable energy, such as wind, solar, and hydropower. These components are crucial as they connect power stations and substations to the grid and allow electricity to flow in both directions.
End users installed new devices into existing grids while the older ones were meant to be used for maintaining the grid. Additionally, advances in materials science have resulted in more efficient silicon-based bushings. These better elements enhance performance while minimizing maintenance and equipment aging, thus making them more beneficial for productivity.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Utility Scale Silicon-Based Electrical Bushing Market size in 2023: | USD 377.4 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2023 - 2032 CAGR: | 6.8 |
| 2023 Value Projection: | USD 687 Million |
| Historical Data for: | 2021 to 2023 |
| No of Pages: | 80 |
| Tables, Charts & Figures: | 20 |
| Segments Covered: | Insulation, Voltage and Application |
| Growth Drivers: |
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| Pitfalls Challenges: |
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Utility companies and governments are modernizing old power grids to improve reliability and capacity. This improves the need for more advanced electrical bushings that offer reliable and effective performance in harsh conditions. The power sector is under great pressure to follow new safety guidelines and environmental regulations. Environmental concerns have led to a shift from traditional oils to epoxy resin and silicone oil. These materials are used for electrical power transformers due to their enhanced ratios of strength to mas and insulation.
With increasing complexity in power systems, the demand for efficient electrical bushings increases. Due to the superior thermal and electrical characteristics of silicon, silicon-based bushings are becoming increasingly popular. The use of smart grid technologies is altering how utility power systems are operated. Silicon-based electrical bushings are crucial for monitoring and controlling power distribution in real-time which enhances the efficiency of these systems.
Market leaders ensure they broaden their product portfolio and their geographical footprint through consistently pursued M&A endeavors. There is also a high level of cooperation with utilities and tech corporations to develop bespoke solutions. The market for electrical bushings is moving towards bespoke solutions with specific regard to the silicon based products. Suppliers have shifted to provide assistance across the breadth of application with different specs to proffer to the utilities.
The market is divided according to insulation materials into glass, polymeric, and porcelain. The polymeric segment is forecasted to exceed market size of USD 229.7 million by 2032. The growing adoption of renewable energy for power such as wind solar and hydro is expected to raise the demand for polymeric silicon rubber electrical bushings. These components are essential for integrating renewable energy systems into the power grid for efficient electricity transmission. The development of new polymers and the use of advanced manufacturing techniques is increasing the performance of silicon-based bushings.
The utility scale silicon-based electrical bushing market is segmented by application into transformers, switchgear, and others. The transformer segment is expected to register a CAGR above 5.9% during the time period ending in 2032. Due to improved dielectric performance, better thermal stability, and environmental resistance, these bushings are now more applicable in utilities.
As demand for electric power grows, utility companies purchase high voltage transformers for better transmission. There are Electrical Bushings like Si based that are essential for these units that do the actual insulation and support work for the systems. Utility companies tend to focus on safety and reliability. For these components like transformers, silicon based bushings have strong design and great insulation, which reduces the chances of failure and improves reliability of transformer systems.
The U.S. utility held silicon based electrical bushing market is projected to exceed USD 89.4 million by the year 2032. The outdated U.S. electrical grid also requires upgrades that include, among other things, transformers and bushings. This gives space for advance silicon-based bushings that have better performance and reliability than existing traditional bushings.
Increasing environmental and emissions regulations from the government are forcing utility companies to resort to thermoset composites silicon based electrical bushings which are friendlier to the environment than oil filled types. It is now a matter of necessity for utility operators to conform to these standards.
Asia Pacific countries are making significant investments in solar and wind energy. Silicon electrical bushing components are crucial when integrating these renewable sources of energy with the power grid to ensure electricity is delivered efficiently. Authorities in China, India, and Japan are actively formulating and putting into place measures that will result in energy efficiency gains and an increased uptake of clean energy. These efforts often involve the use of sophisticated electrical components such as the silicon bushings.
ABB is one of the leaders in the market dealing with utility scale silicon electrical bushings, well-known for its wide range of electrical bushings including off-the-shelf and custom made ones. Having been in the electrical equipment industry for so long, ABB offers custom bushing adapters with great reliability for very many application purposes.
Some of the key market players operating across the utility scale silicon-based electrical bushing industry are:
Market, By Insulation
Market, By Voltage
Market, By Application
The above information has been provided for the following regions and countries:
The key players in the market include ABB, Barberi, CG Power, Eaton, Elliot Industries, General Electric, GIPRO, Hitachi Energy, Hubbell, Jiangxi Johnson Electric, Liyond, Maschinenfabrik Reinhausen, and Meister International.
The U.S. market is expected to surpass USD 89.4 million by 2032, led by the need to upgrade the aging electrical grid and comply with stringent environmental regulations.
The transformer segment is forecasted to grow at a CAGR of more than 5.9% through 2032, as utilities invest in high-voltage transformers to meet rising electricity demand.
The market size of utility-scale silicon-based electrical bushing reached USD 377.4 million in 2023 and is anticipated to grow at a 6.8% CAGR from 2024 to 2032, driven by the rise of renewable energy sources like wind, solar, and hydropower.