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Utility Scale Silicon-Based Electrical Bushing Market Size

Report ID: GMI12048
Published Date: Oct 2024
Report Format: PDF

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Utility Scale Silicon-Based Electrical Bushing Market Size

The global utility scale silicon-based electrical bushing market size was valued at USD 377.4 million in 2023 and is anticipated to witness a CAGR of 6.8% between 2024 and 2032. The rise of renewable energy sources like wind, solar, and hydropower is boosting demand for utility-scale silicon-based electrical bushings. These vital components link power plants to the grid, ensuring efficient energy transmission. Recent advances in materials science have produced more efficient silicon-based bushings. These improved components boost performance, cut down on maintenance, and extend equipment life, making them ideal for utility applications.

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Governments and utilities are upgrading aging power grids to boost reliability and capacity. This drives demand for robust electrical bushings that can handle higher loads and tough environments. The power industry faces stricter safetyand environmental rules. Silicon-based electrical bushings are preferred for their better insulating properties and lower environmental impact. These qualities help meet current safety and sustainability standards.

Utility Scale Silicon-Based Electrical Bushing Market Report Attributes
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 2024 to 2032 CAGR:	6.8%
2032 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:	Refurbishment of existing grid networks Rapid smart grid adoption Escalating demand for reliable & continuous electricity
Pitfalls & Challenges:	Fluctuating raw material cost

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Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

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.

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 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 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.