Electrical Bushing Market Analysis

Electrical Bushing Market Analysis

To get key market trends

  Download Free Sample

Based on bushing type, the OIP segment is set to reach over 4 billion by 2032. With the global transition towards renewable energy sources including wind and solar power, there is a growing need for transformers and switchgear. OIP electrical bushings are frequently employed in these applications due to their performance and compatibility with high-voltage environments. Various countries are actively investing in the modernization and expansion of their power grids to enhance efficiency, reliability, and the seamless integration of renewable energy sources, which is fueling the demand for OIP electrical bushings.
 

Based on the end use, the utility segment is anticipated to grow at a CAGR of over 6.1% through 2032. The utility sector is poised for robust growth as developments in grid infrastructure intensify to meet the surging energy demand. Continuous retrofitting of existing networks, coupled with increasing investments in microgrid installations, will bolster the industry's prospects. Numerous regions are expanding their electrical grids to accommodate rising energy needs and enhance grid reliability and resilience. This expansion and modernization frequently entail the installation of new transformers and related bushings, especially in utility-scale substations.
 

Europe electrical bushing market is forecasted to exceed USD 1.5 billion by 2032. Rising demand for smart grid infrastructure has provided significant growth to the demand of electrical bushings. Regulatory bodies are directing investments towards supporting the development of sustainable electricity generation, distribution, and transportation networks. Increasing funding from European regulatory authorities towards the expansion and modernization of electrical grid infrastructure will drive up the demand for electrical bushings.