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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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 Report Snapshots
Electrical Bushing Market Size
Electrical Bushing Market Share
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market reached a value of nearly USD 3.2 billion in 2023.
The market is estimated to grow at a CAGR of 4.3% in the forecast period of 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 4.71 billion by 2032.
The increasing demand for electricity, expansion of power distribution networks, and introduction of policies by various governments to improve safety in the utility sector, are the major drivers of the market.
The key trends in the market include the technological advancements including development of non-metallic split bushings, split grounding bushings, and cable bushings, among others, and the expansion of power infrastructure due to rising urbanisation and digitalisation.
The different types of electrical bushings include oil impregnated paper (OIP), and resin impregnated paper (RIP), among others.
The applications of electrical bushing include transformer and switchgear, among others.
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, and POLYCAST International, among others, are the key market players.
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