Utility Scale Electrical Bushing Market Size - By Bushing Type, By Insulation, By Application, Analysis, Share, Growth Forecast, 2025 - 2034

Utility Scale Electrical Bushing Market Size

The global utility scale electrical bushing market was at USD 2.9 billion in 2024. The market is expected to grow from USD 3.1 billion in 2025 to USD 5.3 billion in 2034, at a CAGR of 6.3%. The increasing demand for electricity, particularly in urban and industrial areas, necessitates the development of robust high-voltage transmission systems. Electrical bushings are essential components in these systems, facilitating safe and efficient power transfer between transformers and overhead lines.
 

As high-voltage transmission networks expand and renewable energy sources integrate, the demand surges for reliable electrical bushings adept at managing elevated voltage levels. For instance, according to the U.S. Energy Information Administration (EIA), the United States added approximately 28.5 gigawatts (GW) of new utility-scale renewable energy capacity in 2023, further driving the need for advanced electrical components.
 

Advancements in composite materials and silicone rubber are significantly boosting the performance and lifespan of these electrical bushings. Additionally, the U.S. Department of Energy highlights ongoing investments in grid modernization, which include the adoption of high-performance electrical bushings to support the growing renewable energy infrastructure.
 

The global shift towards renewable energy sources, such as wind and solar power, requires the modernization of existing grids. According to the U.S. Energy Information Administration (EIA), renewable energy accounted for approximately 21% of electricity generation in the United States in 2022, with projections indicating continued growth through 2024. Central to this transition are electrical bushings, which ensure these fluctuating energy sources are seamlessly integrated into the grid, maintaining stability and efficiency.
 

Utility Scale Electrical Bushing Market Trends

The Trump administration's tariffs, particularly those on steel, aluminum, and copper, have significantly impacted the utility-scale electrical bushing industry. The 25% tariffs on steel and aluminum, along with potential 10% tariffs on copper, have raised the cost of essential materials used in electrical bushings. This has led to higher production costs for manufacturers. Uncertainties surrounding tariff policies have caused supply chain disruptions, leading to delays and increased costs in obtaining raw materials.
 

Many regions are investing in upgrading their aging electrical infrastructure to improve efficiency and reliability. For reference, the U.S. Department of Energy allocated $13 billion in 2023 under the Grid Resilience and Innovation Partnerships (GRIP) program to upgrade and modernize the power grid. This modernization includes the replacement of outdated bushings with more durable and efficient models.
 

Rapid urbanization and industrial growth in emerging markets, particularly in Asia-Pacific, Latin America, and Africa, are driving the need for expanded and modernized electrical grids, thereby increasing the demand for utility-scale electrical bushings. For instance, the International Energy Agency (IEA) reports that electricity demand in developing economies is expected to grow by over 70% by 2040, further emphasizing the need for advanced grid infrastructure.
 

Utility Scale Electrical Bushing Market Analysis

• The global utility scale electrical bushing industry was valued at USD 2.5 billion, USD 2.7 billion, and USD 2.9 billion in 2022, 2023, and 2024, respectively. Based on bushing type, the industry can be categorized into oil impregnated paper (OIP), resin impregnated paper (RIP) and others
   
• The OIP segment is expected to dominate the market and exceed revenue of USD 3.1 billion by 2034. OIP bushings have a long history of reliable performance in high-voltage applications, making them a preferred choice for legacy systems and utilities that favor established technology. Compared to advanced dry-type bushings, OIP bushings are often more economical in initial cost, especially attractive for budget-conscious utilities.
   
• RIP bushings eliminate the need for oil, reducing the risk of leaks and fire, making them suitable for environmentally sensitive installations and indoor substations. As utilities adopt more compact, modular substations, the dry-type RIP bushings are preferred due to their lighter weight and smaller footprint.
   

• Based on the insulation, the utility scale electrical bushing market is trifurcated into porcelain, polymeric and glass. The polymeric segment is set to lead the industry with a major market share of 44.4% in 2024 while growing at a positive CAGR through 2034. Polymeric bushings are easier to handle and install, especially in space-constrained environments, making them ideal for modern substations and urban installations. The shift towards eco-friendly materials aligns with global sustainability goals and regulatory standards, boosting the adoption of polymeric bushings.
   
• Porcelain bushings are renowned for their robustness and ability to withstand high electrical stress, making them ideal for high-voltage applications in transformers and switchgear. It offers a balance between performance and cost, making them a preferred choice for utilities aiming to optimize budgets without compromising on reliability.
   
• Glass bushings offer excellent insulation performance, essential for high-voltage applications in transformers and switchgear. The expansion of smart grid networks and the need for reliable power distribution systems increase the demand for high-performance bushings.
   
• Increasing electricity consumption and long-distance transmission necessitate ultra-high-voltage (UHV) transformers. Bushings play a key role in safely insulating and connecting these high-voltage systems. Rapid industrialization and urbanization in countries like India, China, and parts of Africa are boosting demand for transformers, along with their associated bushing components.
   
• Utilities are deploying more high-voltage substations to manage growing grid complexity. Switchgear units, essential for protection and control, require bushings to connect with incoming/outgoing circuits. Distributed energy resources (DERs), like rooftop solar and battery storage, are increasing the number of switching points and substations, thus driving demand for switchgear bushings.
   

• The U.S. utility scale electrical bushing market is estimated to reach a value of USD 367.4 million, USD 393.5 million, and USD 420.4 million in 2022, 2023, and 2024. The U.S. is investing heavily in upgrading its aging electrical infrastructure, including transformers and switchgear, to enhance reliability and efficiency. This modernization drives the demand for advanced bushings. The increasing adoption of renewable energy necessitates the development of robust transmission networks, thereby boosting the need for high-quality bushings in transformers and switchgear.
   
• Europe's commitment to achieving net-zero emissions by 2050 is prompting significant investments in clean energy infrastructure, including the deployment of advanced bushings in transformers and switchgear. Countries like Germany, France, and the UK are increasing investments in renewable energy projects, leading to a higher demand for transformers and switchgear equipped with advanced bushings.
   
• Countries like China, India, and Japan are experiencing rapid urbanization and industrial growth, leading to increased demand for electricity and, consequently, for transformers and switchgear with advanced bushings. To enhance grid reliability and efficiency, APAC countries are modernizing their electrical grids, driving the demand for advanced bushings in transformers and switchgear.
   
• The MEA region is focusing on diversifying its energy sources by investing in renewable energy projects, which require reliable electrical infrastructure, including transformers and switchgear equipped with high-quality bushings. Economic growth in countries like South Africa and the UAE is driving the demand for electricity, thereby increasing the need for advanced bushings in electrical equipment.
   
• Countries like Brazil and Argentina are investing in the development of their energy infrastructure to meet growing electricity demands, leading to increased need for transformers and switchgear with advanced bushings. Government policies aimed at improving energy efficiency and reliability are driving investments in electrical infrastructure, including the deployment of advanced bushings in transformers and switchgear.
   

Utility Scale Electrical Bushing Market Share

The top 5 players operating in utility scale electrical bushing industry include ABB, Siemens Energy, Nexans, General Electric, and Eaton which collectively hold over 40% of the market share. Large market share holders often set industry standards in product design, testing protocols, and performance benchmarks. These companies influence IEC and IEEE standards due to their global reach and participation in international regulatory bodies.
 

Market leaders allocate significant resources to R&D, pushing innovation in bushing materials (e.g., RIP/RIS), monitoring systems (smart bushings), and environmentally friendly designs. Smaller players often follow trends set by these innovators, adopting technologies after validation by larger firms.
 

Utility Scale Electrical Bushing Market Companies

• ABB is a global leader in electrical automation and power technologies, providing solutions for renewable energy systems and equipping high-voltage transformers and switchgear with a comprehensive range of polymeric electrical bushings. The company reported sales of over USD 32.8 billion in 2024.
   
• Eaton provides a wide range of electrical components, including polymeric bushings for power transformers and switchgear, focusing on energy management and automation. The company spent USD 1.3 billion in 2024 for research & development.
   
• Siemens Energy offers a range of high-performance bushings, such as gas-insulated and resin-impregnated synthetic bushings, integral to transformers, switchgear, and other critical grid components.
   
• GE specializes in offering high and extra-high voltage equipment, supplying polymeric electrical bushings for transformers and switchgear, with a strong background in the industry.
   
• Nexans is known for its international trade of wires and cables, offering a wide range of products specializing in high and super high voltage power transmission, including polymeric bushings. The company had gross profits of over USD 18.4 million in 2024.
   

Some of the key market players operating across the utility scale electrical bushing industry are:

• ABB
• Barberi Rubinetterie Industriali
• CG Power and Industrial Solutions
• Eaton
• Elliot Industries
• General Electric
• GIPRO
• Hitachi Energy
• Hubbell
• Jiangxi Johnson Electric
• Liyond
• Meister International
• Maschinenfabrik Reinhausen
• Nexans
• Poinsa
• Polycast
• PFISTERER
• Siemens Energy
   

Utility Scale Electrical Bushing Industry News

• In April 2025, ABB is investing USD 120 million to expand its production of low-voltage electrical equipment in Tennessee and Mississippi. This move aims to reduce the impact of tariffs and enhance supply chain resilience. Currently, 75–80% of ABB’s U.S. sales are produced domestically, with plans to increase this figure to over 90% in key markets including India, China, Europe, and the U.S.
   
• In January 2025, GE Vernova offers a range of high-performance bushing solutions, including Oil Impregnated Paper (OIP) and Resin-Impregnated Paper (RIP) bushings. These products are designed to meet the modern power system's demand for greater reliability, longer life, and increased environmental compliance. GE leverages its expertise in digital technology to support advanced diagnostics and monitoring of its products, aligning with the emerging trend toward smart grids and sustainable energy systems.
   
• In January 2025, CG Power announced the establishment of a greenfield transformer manufacturing facility in Western India with a capacity of 45,000 MVA. The project, estimated at INR 7,120 million, is expected to be completed in Fiscal Year 2027-28 and will primarily focus on producing utility-scale transformers and bushings.
   
• In April 2023, Siemens introduced new sensor bushings, protection, and indication devices designed for compact, intelligent secondary substations. These innovations aim to enhance fault location capabilities and provide greater transparency in distribution grids.
   

The utility scale electrical bushing market research report includes in-depth coverage of the industry with estimates & forecast in terms of “‘000 Units & USD Million” from 2021 to 2034 for the following segments:

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Market, By Bushing Type

• Oil impregnated paper (OIP)
• Resin impregnated paper (RIP)
• Others

Market, By Insulation

• Porcelain
• Polymeric
• Glass

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