Global Electrical Bushing Market Report and Forecast 2024-2032

Global Electrical Bushing Market Size

The global electrical bushing market size reached nearly USD 3.2 billion in 2023. The market is projected to grow at a CAGR of 4.3% between 2024 and 2032 to reach a value of around USD 4.71 billion by 2032.

Key Trends in the Market

Electrical bushing refers to an electrical component which is used to carry high voltage current through equipment enclosures. These enclosures may consist of apparatus such as transformers, circuit breakers, shunt reactors, or power capacitors, among others. Electrical bushings are typically made up of porcelain, however other insulating materials can also be used.

• The electrical bushing market growth is driven by the increasing demand for electricity, triggered by rapid industrialisation, especially across emerging economies, and the growing population. In addition to this, governments of various countries are taking measures to upgrade and modernise existing power infrastructure.

• Technological advancements, coupled with innovations in electrical bushing systems are some of the key electrical bushing market trends. Composite bushings, non-metallic split bushings, split grounding bushings, and cable bushings, among others, are some of the critical innovations which have supported the market, enabling it to cope with evolving customer requirements.

• The increasing stringency of regulatory standards by various governments to ensure safety, reliability, and security in the utility sector is further aiding the electrical bushing market demand. In line with this, grid modernisation initiatives are increasing in regions like Latin America and the Asia Pacific.

Electrical Bushing Market Segmentation

Based on type, the market is divided into oil impregnated paper (OIP) and resin impregnated paper (RIP), among others. On the basis of voltage, the market is classified into medium voltage (1 KV to 72.5 KV), high voltage (72.5 KV to 220 KV), and extra high voltage (> 220 KV). By insulation, the market is segmented into porcelain, polymeric, and glass.

By application, the market is categorised into transformer and switchgear, among others. The major regional markets for electrical bushing include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global electrical bushing market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• 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

Market Share by Application

Transformers account for a significant portion of the electrical bushing market share. Bushing is an important accessory of a transformer that offers an effective and efficient insulation between line conductor and tank. Transformer bushing also provides insulation between outgoing conductors and slots which is not possible using simple arrangements. Increasing power demands due to rising investments in infrastructure development projects and upgradation of grid structures are further bolstering the requirement for electrical bushings.

Market Share by Region

As per the electrical bushing market analysis, the Asia Pacific holds a significant share of the market. The rising demand for power across the region, fuelled by growing urbanisation and industrialisation, and increasing population, is leading to the expansion of power transmission and distribution networks. Moreover, the rapid electrification of rural areas across emerging economies is  escalating the market demand. The increasing emergence of power generation projects in various countries across the Asia Pacific is further supporting the market expansion in the region.

Competitive Landscape of Electrical Bushing Industry

General Electric Company is a multinational company which offers bushings for electrical transmission with high value benefits. The company offers specialised solutions related to different industry verticals including renewable energy, power, and aerospace, among others.  General Electric company was founded in 1892 and is headquartered in Massachusetts, United States.

ABB Ltd. is one of the renowned technology leaders that offers innovative solutions in the electrification and automation domain. The company aims to provide a sustainable and resource-efficient future to its end users. The company was founded in 1988 and is headquartered in Zurich, Switzerland.

Siemens AG is a leading technology company that offers technical expertise as well as state-of-art solutions in fields ranging from IT and finance to energy and power distribution. The company was founded in 1847 and is headquartered in Berlin and Munich, Germany.

Other market players include Hitachi Ltd., Hubbell Inc., CG Power and Industrial Solutions Ltd., Eaton Corporation Plc, GIPRO GmbH, Webster-Wilkinson Ltd., RHM International, LLC, and POLYCAST International, among others.

Key Highlights of the Report

Electrical Bushing Market Report Snapshots

Electrical Bushing Market Size

Electrical Bushing Market Share

Electrical Bushing Companies