Global Electrical Bushing Market Insights Forecasts to 2033

• The Global Electrical Bushing Market Size Was Valued at USD 2.69 Billion in 2023
• The Market Size is Growing at a CAGR of 4.18% from 2023 to 2033
• The Worldwide Electrical Bushing Market Size is Expected to Reach USD 4.05 Billion by 2033
• Middle East & Africa is Expected to Grow the fastest during the forecast period.

The Global Electrical Bushing Market Size is Anticipated to Exceed USD 4.05 Billion by 2033, Growing at a CAGR of 4.18% from 2023 to 2033.

Market Overview

Electrical bushings are essential components for a wide range of high-voltage electrical equipment like power transformers, shunt reactors, circuit breakers, and capacitors. Electrical bushing seems like a simple device, but it is used for the critical function of carrying current at high voltage through equipment enclosures. They provide a barrier of insulator between the live conductor and the metallic conducting body and minimize energy losses, reducing the risk of electrical arcs. An electrical bushing is a means of bringing a connection from the inside to the outside of the tank. It forms a pressure-tight barrier enabling the necessary vacuum to be drawn for oil impregnation of the windings. It also ensures that there are no leaks during the operating lifetime of the transformer. The bushing also provides the required current carrying path with a permissible temperature rise.

It facilitates the efficient transmission of high-voltage electrical current through grounded barriers such as transformer tanks. The market is growing due to several factors such as the rise in renewable energy projects and the ongoing investments in electrical grid modernization and expansion. Rapid urbanization and industrialization are boosting the demand for dependable power transmission solutions. The electrical bushing market's growth potential is supported by its critical role in ensuring the reliability and safety of modern electrical networks.

Report Coverage

This research report categorizes the global electrical bushing market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global electrical bushing market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global electrical bushing market.

Driving Factors

The major driving factor for the growth of the protective clothing market for electrical bushing is the rising investments in renewable energy projects, such as wind and solar power, which have increased the need for installation and usage of advanced electrical infrastructure, including bushings that ensure reliable and safe power transmission. The ongoing upgradation and expansion of electrical grids, particularly in developing countries are crucial in driving market demand.

The focus on workers’ safety is increasing. The high-voltage power transformers, reactors, and capacitors create dangerous electrical arcs and bushing prevents these arcs from forming, hence fuelling its need.

The advancements in electrical bushing technology have led to its longer operational lifespan and better performance. Furthermore, the initiatives by the governments of several countries for upgrading old electrical infrastructure and promoting sustainable energy generation systems provide a supportive environment for global electrical bushing market growth.

Restraining Factors

The global electrical bushing market might face several challenges that could restrain the market growth. The high cost of acquisition of advanced bushing technologies can be a significant barrier, particularly for smaller utilities, and economically weaker and developing countries. The installation and maintenance of these bushings and other components has a lot of complexities involved, and requires skilled labor and specialized equipment, increasing operational costs. Environmental concerns and strict regulatory policies for the production and disposal of electrical bushings are also big hurdles to market players. Furthermore, the volatility in raw material prices and weak supply chains could impact the production costs and profit margins.

Market Segmentation

The global electrical bushing market share is classified into type, voltage, insulation, application, and end-user.

• The oil-impregnated paper (OIP) segment is expected to hold the largest share of the global electrical bushing market during the forecast period.   

Based on the type, the global electrical bushing market is divided into oil-impregnated paper (OIP), resin-impregnated paper (RIP), and others. Among these, the oil-impregnated paper (OIP) segment is expected to hold the largest share of the global electrical bushing market during the forecast period. To increase a bushing’s dielectric strength, the condenser insulation is saturated with mineral oil, such bushing is known as oil-impregnated paper. The OIP bushing is cost-effective, offers better electrical performance, and high dielectric strength. It also limits the flow of leakage current and prevents external flashovers. OIP condenser bushings can also be fitted with a spring-loaded expansion chamber to allow volume fluctuations of oil because of varying temperatures. Resin-impregnated synthetic, resin-bonded paper, SF6, and hybrid are other types of electrical bushings.

• The MV segment is expected to hold the largest share of the global electrical bushing market during the forecast period.   

Based on the voltage, the global electrical bushing market is divided into MV, HV, and EHV. Among these, the MV segment is expected to hold the largest share of the global electrical bushing market during the forecast period. The large market share of this segment is anticipated due to the extensive application of the medium voltage bushings in urban and industrial power distribution systems. MV bushings are commonly used in substations, industrial plants, and commercial buildings where moderate voltage levels are required for efficient power distribution. It can operate in the range of 1 kV to 36 kV. Medium voltage bushings are essential components in transformers, switchgear, and various electrical equipment that cater to residential, commercial, and industrial areas. Additionally, the modernization of aging electrical grids and the development of new grids are boosting the demand for medium-voltage bushings.

• The polymeric segment is expected to grow at the fastest CAGR in the global electrical bushing market during the forecast period.   

Based on the insulation, the global electrical bushing market is divided into porcelain, polymeric, and glass. Among these, the polymeric segment is expected to grow at the fastest CAGR in the global electrical bushing market during the forecast period. This rapid growth is expected because of the advantages that polymeric electrical bushings offer compared to traditional materials like porcelain and glass. Polymeric bushings are preferred because they have superior mechanical strength, less weight, and excellent thermal stability, making them efficient in varied weather conditions. They also offer better resistance to pollution and contamination, reducing maintenance requirements and operational downtime. Additionally, they are easier to manufacture and install, which makes them an attractive choice for utilities and industries, driving the segment's growth.

• The transformer segment is expected to hold the largest share of the global electrical bushing market during the forecast period.   

Based on the application, the global electrical bushing market is divided into transformers, switchgear, and others. Among these, the transformer segment is expected to hold the largest share of the global electrical bushing market during the forecast period. The large share of this segment is majorly driven by the extensive use of bushings in power transformers, which are critical for efficient and uninterrupted electricity transmission and distribution. Transformers require high-performance electrical bushings to ensure safe insulation between high-voltage lines and grounded components. The expansion of electrical grids, and the rising demand for electricity in urban and rural areas, are further fuelling the demand for transformer bushings. Additionally, integrating renewable energy sources into power grids generated the need for bushings in transformers to handle varying loads and voltages.

• The utilities segment is expected to hold the largest share of the global electrical bushing market during the forecast period.   

Based on the end-user, the global electrical bushing market is divided into utilities and industries. Among these, the utilities segment is expected to hold the largest share of the global electrical bushing market during the forecast period. This is due to the critical role utilities play in electricity generation, transmission, and distribution. Utilities require a significant number of bushings for their widespread networks of power transformers, switchgear, and capacitors, ensuring reliable and efficient power delivery to residential, commercial, and industrial consumers. Bushing controls the electric field and reduces electrical stresses, so it is one of the most important components of transformers and switchgear. Many utilities are upgrading, and increasing the transmission and distribution (T&D) capacity, boosting the segment’s growth. The end-user segment also includes railways, metro, and renewables.

Regional Segment Analysis of the Global Electrical Bushing Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the global electrical bushing market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share of the global electrical bushing market over the predicted timeframe. This region’s growth is driven by the rapid rise in industries and urbanization in countries like China, India, Japan, and Indonesia. There have been significant investments in expanding and modernizing electrical grids to meet rising energy demands. The region's focus on integrating renewable energy sources into the existing power infrastructure further fuels the demand for electrical bushings. For instance, according to modeling by a technology company Wartsila and the Finnish Lappeenranta-Lahti University of Technology, in November 2021, India can cut its overall cost of electricity in half and reach net zero before 2050 by developing a 100 percent renewable energy power system.

The manufacturers in this region benefit from the low cost of labor, boosting their profit margins, and the export of electrical bushing-based products from APAC. The presence of numerous key players, and a well-established supply chain network is fuelling the region’s market growth. Factors such as high power consumption, rising investments in the infrastructure, and transportation networks, growing focus on renewable power generation, and modernization and expansion of T&D networks are other factors boosting the region’s growth.

Middle East & Africa is expected to grow the fastest in the global electrical bushing market during the forecast period. This rapid regional growth is driven by the increasing focus on developing and upgrading its electrical infrastructure to meet the rising energy demands due to economic development. Significant investments in new power generation projects, including renewable solar energy, wind energy, tidal power, and hydro-power projects are generating demand for advanced electrical equipment including bushings. The region's strategic and financial efforts to diversify energy sources and reduce their dependence on fossil fuels also play a crucial role.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global electrical bushing market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Yash Highvoltage Insulators Pvt. Ltd.,
• Siemens Energy
• Elliot Industries
• RHM International
• Webster-Wilkinson
• General Electric
• Nexans, Eaton
• ABB Ltd
• Siemens AG
• Eaton Corporation plc
• GAMMA Insulator Compan
• Barberi Rubinetterie Industriali S.r.l.
• CG Power and Industrial Solutions
• GIPRO
• Hitachi Energy
• Hubbell
• Jiangxi Johnson Electric Co.
• Liyond
• Meister International
• Polycast
• PFISTERER Holding SE
• Rajeev Industries
• SATRAJ CERAMICS
• THORNE & DERRICK INTERNATIONAL
• Trench Group
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In May 2024, Hitachi Energy proved again that people, technological innovations, and partnerships are part of its corporate identity. The company presented three “firsts” at the largest event for transformer components: a new flexible OIP bushing platform, participation in a panel discussion on career opportunities, and a dinner with more than 100 customers in the iconic Wasserwerk Berlin.

• In April 2023, Siemens Smart Infrastructure expanded its industry-leading medium voltage portfolio with a sustainable and intelligent solution that paves the way for smart switchgear of the future.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global electrical bushing market based on the below-mentioned segments: 

Global Electrical Bushing Market, By Type

• Oil Impregnated Paper
• Resin-Impregnated Paper
• Others

Global Electrical Bushing Market, By Voltage

• MV
• HV
• EHV

Global Electrical Bushing Market, By Insulation

• Porcelain
• Polymeric
• Glass

Global Electrical Bushing Market, By Application

• Transformer
• Switchgear
• Others

Global Electrical Bushing Market, By End-User

• Utilities
• Industries

Global Electrical Bushing Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa