Global Electrical Bushing Market Report and Forecast 2024-2032

Global Electrical Bushing Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global electrical bushing market size reached a value of USD 2.52 billion in 2023. Aided by the burgeoning demand across various applications including power transmission and distribution, electrical manufacturing, and industrial sectors, the market is projected to further grow at a CAGR of 3.90% between 2024 and 2032 to reach a value of USD 3.54 billion by 2032.

Electrical bushings are critical in the insulation and mechanical support of high-voltage conductors passing through grounded conducting barriers. Their significance spans across transformers, switchgear, and other electrical apparatus, ensuring safe operation and energy efficiency. The market's expansion is closely tied to the global emphasis on enhancing power infrastructure and increasing investments in renewable energy projects.

A primary catalyst for the electrical bushing market growth is the global surge in electricity demand, propelled by urbanisation and industrialisation, especially in emerging economies. The transition towards renewable energy sources, coupled with the need for modernising ageing power infrastructure, further bolsters the demand for advanced electrical bushings. Additionally, the advent of smart grids and the integration of IoT technologies into power systems underscore the need for reliable and efficient electrical components, including bushings.

The electrical bushing market is witnessing a wave of innovations aimed at improving performance, reliability, and safety. Manufacturers are increasingly focusing on the development of eco-friendly bushings, such as those using silicone rubber and other non-SF6 gases, to mitigate environmental impact. The integration of digital monitoring systems into bushings for real-time performance tracking and predictive maintenance is another notable trend enhancing the operational efficiency of power systems.

The market segmentation reveals a diverse application spectrum, with significant shares held by the power transmission and distribution sector, followed by industrial applications and electrical equipment manufacturing. Geographically, Asia-Pacific occupies a significant electrical bushing market share due to its extensive power sector developments, followed by North America and Europe, where renewable energy initiatives and infrastructure modernisation projects are in full swing.

The increasing electrification of transportation, including electric vehicles (EVs) and rail systems, presents additional avenues for market expansion. The development of high-voltage bushings for EV charging stations and electrified rail networks is anticipated to be a significant growth area.

As per the electrical bushing market analysis, technological advancements in the market are driving significant improvements in the performance, efficiency, and safety of these essential components within electrical systems. One of the most critical areas of advancement is the development of new materials for bushings. Traditional porcelain and oil-impregnated bushings are being supplemented or replaced by epoxy resins and silicone rubber compounds. These materials offer superior performance in terms of electrical insulation, mechanical strength, and resistance to environmental factors. Silicone rubber bushings, in particular, are gaining popularity due to their excellent hydrophobic properties, which prevent the accumulation of moisture and ensure stable performance in harsh weather conditions.

As per the electrical bushing market outlook, the push towards sustainability has led to the creation of eco-friendly bushings that minimise the environmental impact of electrical systems. Innovations include the use of gas-insulated bushings that employ gases like nitrogen or dry air instead of SF6, a potent greenhouse gas commonly used in electrical insulation but known for its environmental risks. These new bushings not only reduce emissions but also offer the added benefits of being safer and less maintenance intensive.

The electrical bushing market expansion is also fuelled by the presence of several key players who are engaging in strategic partnerships, mergers, and acquisitions to enhance their market presence and address the evolving demands of the electrical sector.

Market Segmentation

The market can be divided based on type, voltage, insulation, application, and region.

Market Breakup by Type

• Oil Impregnated Paper (OIP)
• Resin Impregnated Paper (RIP)
• Others

Market Breakup by Voltage

• Medium Voltage (1 KV to 72.5 KV)
• High Voltage (72.5 KV to 220 KV)
• Extra High Voltage (> 220 KV)

Market Breakup by Insulation

• Porcelain
• Polymeric
• Glass

Market Breakup by Application

• Transformer
• Switchgear
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global electrical bushing market. Some of the major players explored in the report by Expert Market Research are as follows:

• General Electric Company
• ABB Ltd.
• Siemens AG
• Hitachi Ltd.
• Hubbell Inc.
• CG Power and Industrial Solutions Ltd.
• Eaton Corporation Plc
• GIPRO GmbH
• Webster-Wilkinson Ltd.
• RHM International, LLC
• POLYCAST International
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.