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Industrial Mineral-Based Electrical Bushing Market
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Industrial Mineral-Based Electrical Bushing Market Size
The global industrial mineral-based electrical bushing market size was assessed at USD 540.3 million in 2023 and is envisioned to grow at a CAGR of 6.4% by 2032. The international growth of the power system, especially in the industrial areas like power generation and transmission, has increased the consumption of electrical bushings with high voltage ratings. In high voltage applications, mineral based bushings are more favorable due to their dielectric strength and reliability. These include oil impregnated paper (OIP) and resin bonded materials.
To get key market trends
The industry of electrical bushings made from industrial minerals is changing with the use of green and sustainable materials. There is an increasing consumption of mineral-based bushings containing biodegradable materials and non-hazardous oils, by the utilities and industrial sectors. This trend shows an exercise of minimizing the overall carbon footprint done by this industry. The electrical bushing industry is moving towards green materials. The utilities and industries are consuming more of mineral-based bushings with biodegradable components and non-hazardous oils. This change is intended to lessen the carbon emissions and environmental impact.
Industrial Mineral-Based Electrical Bushing Market Report Attributes
| Key Takeaway | Details |
|---|---|
| Market Size & Growth | |
| Base Year | 2023 |
| Market Size in 2023 | USD 540.3 Million |
| Forecast Period 2024 - 2032 CAGR | 6.4% |
| Market Size in 2032 | USD 951.5 Million |
| Key Market Trends | |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
What are the growth opportunities in this market?
Industrial Mineral-Based Electrical Bushing Market Trends
The advancement of extreme weather events together with the requirements for robust power grids have placed the utility companies under pressure to concentrate on reliable components. Bushings are very crucial in this transition as they offer great insulation and high strength in adverse conditions. The use of smart grid technologies simultaneously with digitalization is increasing the use of bushing with these monitoring systems on a large scale. In the industrial fields, there is an increased adoption of sensor fitted bushing made of minerals. These sensors help improve performance by giving information on temperature, and possible failures that occur in the equipment, thus increasing the safety of the equipment while reducing the time it takes to repair the equipment.
Industrial Mineral-Based Electrical Bushing Market Analysis
Learn more about the key segments shaping this market
The polymeric segment is estimated to reach USD 310 million by 2032. Among the various types of bushings, polymeric types made of silicone rubber and epoxy resin are increasingly being used in industry. Compared to the conventional porcelain or mineral bushings, these materials provide improved insulation, protect better against the environment, and are lighter in weight. These robust materials are ideal for industrial purposes since they are resistant to weather, pollution, and chemicals.
Learn more about the key segments shaping this market
The industrial mineral-based electrical bushing market from transformer segment is forecasted to achieve a CAGR over 5.5% up to 2032. The increasing global demand for electricity in 3rd world countries and aimed industries is increasing the demand for high voltage transformers. Mineral based bushings like oil impregnated paper (OIP) types are used more in these transformers. Their high dielectric strength and reliability makes them a preferred choice for high electrical stress regions.
Looking for region specific data?
The U.S. industrial mineral-based electrical bushing market size is expected to cross USD 415.3 million by 2032. The US is in the process of repairing/developing its old power grid. Many of the transformers’ electrical components, especially the electrical bushings, are due for replacement after decades of use. For new high voltage transformer, the mineral based OIP or resin bonded paper (RBP) bushings are most favored. They are well suited for this drastic infrastructure change due to their reliability and long-term performance.
Asia Pacific is witnessing significant development in power networks to address increasing energy demands. Countries like China, India, Japan, and several in Southeast Asia are upgrading their high voltage systems, increasing the use of mineral-based bushings in transformers and other electrical equipment. Such projects require dependable and durable components like the oil impregnated paper (OIP) and resin bonded paper (RBP) bushings which have gained popularity due to this demand.
Industrial Mineral-Based Electrical Bushing Market Share
ABB has dominion over the industrial mineral-based electrical bushing industry due to their superior know-how and experience regarding the production of all types of electrical bushings. Their designs comprise of basic bushing configurations, different modifications, and relevant accessories. Over the years, ABB has been operating in the electrical equipment industry, and has always offered relevant bushing solutions for different application needs.
Industrial Mineral-Based Electrical Bushing Market Companies
Some of the key players operating across the industrial mineral-based electrical bushing industry are:
- ABB
- Barberi
- CG Power
- Eaton
- Elliot Industries
- General Electric
- GIPRO
- Hitachi Energy
- Hubbell
- Jiangxi Johnson Electric
- Liyond
- Maschinenfabrik Reinhausen
- Meister International
- Nexans
- PFISTERER
- Poinsa
- Polycast
- Siemens Energy
Industrial Mineral-Based Electrical Bushing Industry News:
- In February 2024, Jiangxi Electric Co., Ltd. started construction at their factory called Qiangsheng Electric Porcelain. This indicates the company intention to enhance and expand the capacity of the electric porcelain industry. At the same time, the expansion of Qiangsheng Electric Porcelain Factory seeks to promote the modernization of the industry and meet new requirements of the market.
- In November 2023, the BHEL, one of the major partner of Hitachi Energy, received a recognition award for their RIP bushings to Hitachi’s Vadodara factory. During the award presentation, the Minister of Heavy Industries in India, Shri Mahendra Pandey appreciated Hitachi Energy’s innovation, quality, and scholarship which contributes towards the ‘Make in India’ initiative.
The industrial mineral-based electrical bushing market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume & revenue in ‘000 Units & USD Million from 2021 to 2032, for the following segments:
Market, By Insulation
- Porcelain
- Polymeric
- Glass
Market, By Voltage
- Medium Voltage
- High Voltage
- Extra High Voltage
Market, By Application
- Transformer
- Switchgear
- Others
The above information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Russia
- UK
- Italy
- Spain
- Netherlands
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Latin America
- Brazil
- Argentina
Frequently Asked Question(FAQ) :
Who are the major industrial mineral-based electrical bushing market participants?
ABB, Barberi, CG Power, Eaton, Elliot Industries, General Electric, GIPRO, Hitachi Energy, Hubbell, and Jiangxi Johnson Electric
What is the value of the U.S. industrial mineral-based electrical bushing industry?
U.S. industrial mineral-based electrical bushing market is set to surpass USD 415.3 million by 2032, as their reliability and long-term performance make them well-suited for this infrastructure overhaul.
Why is the use of polymeric industrial mineral-based electrical bushing growing?
The polymeric insulation segment in the industrial mineral-based electrical bushing market is projected to exceed USD 310 million by 2032, as they offer better insulation, resist environmental damage, and weigh less than traditional porcelain or mineral bushings.
How big is the industrial mineral-based electrical bushing market?
The market size of industrial mineral-based electrical bushing was worth over USD 540.3 million in 2023 and is set to grow at a 6.4% CAGR from 2024 to 2032, due to the global expansion of power infrastructure, particularly in industrial sectors, such as power generation and transmission.
