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Utility Scale Silicon-Based Electrical Bushing Market Trends

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

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Utility Scale Silicon-Based Electrical Bushing Market Trends

As power systems become more complex, the need for reliable, high-performance electrical bushings grows. Silicon-based bushings, known for their excellent thermal and electrical properties, are increasingly preferred for demanding applications. The implementation of smart grid technologies is changing the landscape of the utility sector. Silicon-based electrical bushings play a critical role in these advanced systems by facilitating real-time monitoring and control, ensuring efficient power distribution.

Leading companies in the market focus on strategic partnerships, mergers, and acquisitions to enhance their offerings and expand their reach. They often collaborate with utilities and tech providers to create custom solutions. The electrical bushing market is seeing a shift towards customization, especially for silicon-based products. Manufacturers now offer tailored solutions to meet utilities' specific needs across various applications.

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.