Summary

The global electrical bushings market is expected to grow significantly from an estimated USD 3.67 billion in 2024 to USD 4.77 billion by 2029, at a CAGR of 5.4% during the forecast period. Growth in electrical bushings is predominantly seen worldwide, led by demand in effective transmission and distribution of electricity triggered by rapid urbanization and industrialization. Major investment in renewable energy projects along with the modernization of grid helps escalate demand for high-performance, reliable advanced bushings that may have withstanding voltage capability for more prolonged system performance. Resin-impregnated and synthetic bushings replace the traditional porcelain to reduce energy losses and improve electrical safety. Furthermore, stringent government regulations and environmental mandates drive the industries toward the adoption of more sustainable and high-performance bushing solutions. These drivers along with a growing demand for the upgradation of aging power infrastructure worldwide propel the market growth at an aggressive rate. “Above 230 segment, by voltage, is expected to hold third largest market share during forecast period” The Above 230 kV subsegment of the By Voltage segment is the third-largest in the global electrical bushings market, given its importance in high-voltage power transmission applications. This range is most commonly used in large-scale infrastructure projects, including inter-regional and cross-border transmission networks, which are considered essential for stabilizing grids and integrating renewable energy sources. The increasing adoption of ultra-high-voltage direct current (UHVDC) systems, especially in emerging economies in the Asia Pacific and the Middle East, is further fuelling demand. Also, investments in upgrading aging grid infrastructure in developed regions like North America and Europe have fueled growth in this subsegment. In fact, these bushings are irreplaceable for maintaining the reliability of operation, reducing losses in power, and sustaining the long-distance transmission of electricity. “Switchgear segment, by Application, is expected to hold second-largest market share during forecast period” The Switchgear subsegment of the By Application segment is the second-largest market share in the global electrical bushings market because switchgear plays a critical role in ensuring that electrical systems are safe and reliable. Electrical bushings in switchgear provide an easy, secure passage for current with seamless insulation, even in high-stress conditions. Demand for advanced and compact switchgear solutions has emerged in urbanization projects, renewable energy integration, and industrial expansions across the globe. The grid modernization initiatives pursued by regions such as Europe and North America along with rapid electrification and industrialization in Asia Pacific will positively impact the adoption of bushings for medium- and high-voltage switchgear. These factors explain why, to ensure operational efficiency and system protection, bushings are indispensable. “South Amrica is expected to hold the least market share during forecast period.” South America has the lowest market share in the global electrical bushings market due to various limiting factors. These include a lower level of investment in power infrastructure compared to other regions, and slower adaptation of the latest grid technologies. It is still more focused on basic electrification efforts for rural areas and has only limited budgets for upgrading its transmission and distribution networks with advanced equipment such as electrical bushings. Economic instability and political insecurity in other countries further compound large infrastructure development. Ongoing renewable projects in countries such as Brazil and Chile will continue to keep the overall demand for high-voltage equipment like bushings very modest with limited industrialization and grid modernization progressing at a slower rate than elsewhere in the region. By Company Type: Tier 1- 30%, Tier 2- 55%, and Tier 3- 15% By Designation: C-level Executives - 30%, Director Level- 20%, and Others- 50% By Region: North America – 18%, Europe – 8%, Asia Pacific – 60%, South America – 4%, Middle East & Africa – 10% Note: Other designations include sales managers, marketing managers, product managers, and product engineers. The tier of the companies is defined based on their total revenue as of 2023. Tier 1: USD 1 billion and above, Tier 2: From USD 500 million to USD 1 billion, and Tier 3:

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Table of Contents

1 INTRODUCTION 24
1.1 STUDY OBJECTIVES 24
1.2 MARKET DEFINITION 24
1.3 STUDY SCOPE 25
1.3.1 MARKETS COVERED AND REGIONAL SCOPE 25
1.3.2 INCLUSIONS AND EXCLUSIONS 26
1.3.3 YEARS CONSIDERED 27
1.4 CURRENCY CONSIDERED 28
1.5 UNIT CONSIDERED 28
1.6 LIMITATIONS 28
1.7 STAKEHOLDERS 28
1.8 SUMMARY OF CHANGES 29
2 RESEARCH METHODOLOGY 30
2.1 RESEARCH DATA 30
2.1.1 SECONDARY DATA 31
2.1.1.1 List of key secondary sources 31
2.1.1.2 Key data from secondary sources 31
2.1.2 PRIMARY DATA 32
2.1.2.1 List of primary interview participants 32
2.1.2.2 Key data from primary sources 33
2.1.2.3 Key industry insights 34
2.1.2.4 Breakdown of primaries 35
2.2 MARKET SIZE ESTIMATION METHODOLOGY 36
2.2.1 BOTTOM-UP APPROACH 36
2.2.1.1 Regional analysis 37
2.2.1.2 Country-level analysis 38
2.2.1.3 Demand-side assumptions 38
2.2.1.4 Demand-side calculations 38
2.2.2 TOP-DOWN APPROACH 39
2.2.2.1 Supply-side assumptions 41
2.2.2.2 Supply-side calculations 41
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 42
2.4 FORECAST 43
2.5 RESEARCH ASSUMPTIONS 43
2.6 RISK ANALYSIS 43
2.7 RESEARCH LIMITATIONS 43
 
3 EXECUTIVE SUMMARY 44
4 PREMIUM INSIGHTS 50
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ELECTRICAL BUSHINGS MARKET 50
4.2 ELECTRICAL BUSHINGS MARKET IN ASIA PACIFIC, BY TYPE AND COUNTRY 51
4.3 ELECTRICAL BUSHINGS MARKET, BY TYPE 51
4.4 ELECTRICAL BUSHINGS MARKET, BY INSULATION MATERIAL 52
4.5 ELECTRICAL BUSHINGS MARKET, BY VOLTAGE 52
4.6 ELECTRICAL BUSHINGS MARKET, BY APPLICATION 52
4.7 ELECTRICAL BUSHINGS MARKET, BY END USER 53
4.8 ELECTRICAL BUSHINGS MARKET, BY REGION 53
5 MARKET OVERVIEW 54
5.1 INTRODUCTION 54
5.2 MARKET DYNAMICS 55
5.2.1 DRIVERS 55
5.2.1.1 Mounting demand for reliable power due to industrialization 55
5.2.1.2 Rapid modernization of aging grid infrastructure 57
5.2.1.3 Increasing focus on high-voltage and ultra-high-voltage transmission projects 58
5.2.2 RESTRAINTS 59
5.2.2.1 High initial and upfront costs 59
5.2.2.2 Availability of low-cost alternatives 60
5.2.3 OPPORTUNITIES 60
5.2.3.1 Increasing integration of renewable energy into power grids 60
5.2.3.2 Rising emphasis on expansion of smart grid infrastructure 63
5.2.3.3 Rapid industrial growth in emerging economies 63
5.2.4 CHALLENGES 64
5.2.4.1 Complex manufacturing and customization requirements 64
5.2.4.2 Challenges associated with maintenance and replacement 65
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 66
5.4 ECOSYSTEM ANALYSIS 68
5.5 PRICING ANALYSIS 70
5.5.1 INDICATIVE PRICING OF ELECTRICAL BUSHINGS, BY INSULATION MATERIAL, 2023 70
5.5.2 AVERAGE SELLING PRICE TREND OF ELECTRICAL BUSHINGS, BY REGION, 2021–2023 71
5.6 INVESTMENT AND FUNDING SCENARIO 71
5.7 SUPPLY CHAIN ANALYSIS 72
 
5.8 TECHNOLOGY ANALYSIS 75
5.8.1 KEY TECHNOLOGIES 75
5.8.1.1 Advanced insulation technologies 75
5.8.1.2 Smart bushings 76
5.8.2 ADJACENT TECHNOLOGIES 77
5.8.2.1 Additive manufacturing 77
5.9 KEY CONFERENCES AND EVENTS, 2025–2026 78
5.10 TARIFF AND REGULATORY LANDSCAPE 80
5.10.1 TARIFF ANALYSIS (HS CODE 854620) 80
5.10.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 81
5.10.3 CODES AND REGULATIONS 84
5.11 TRADE ANALYSIS 85
5.11.1 IMPORT SCENARIO (HS CODE 854620) 85
5.11.2 EXPORT SCENARIO (HS CODE 854620) 86
5.12 PATENT ANALYSIS 88
5.13 PORTER’S FIVE FORCES ANALYSIS 92
5.13.1 THREAT OF NEW ENTRANTS 93
5.13.2 THREAT OF SUBSTITUTES 93
5.13.3 BARGAINING POWER OF SUPPLIERS 93
5.13.4 BARGAINING POWER OF BUYERS 94
5.13.5 INTENSITY OF COMPETITIVE RIVALRY 94
5.14 KEY STAKEHOLDERS AND BUYING CRITERIA 94
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS 94
5.14.2 BUYING CRITERIA 95
5.15 CASE STUDY ANALYSIS 96
5.15.1 UTILITY COMPANY IN EUROPE IMPLEMENTS BIIT BUSHING TO ENHANCE OPERATIONAL EFFICIENCY OF HIGH-VOLTAGE SYSTEMS 96
5.15.2 SIEMENS’ BUSHING ENABLES TECHNISCHE BETRIEBE GLARUS NORD TO ACHIEVE SECURE AND SUSTAINABLE POWER SUPPLY AND ENHANCE GRID TRANSPARENCY 96
5.16 IMPACT OF GEN AI/AI ON ELECTRICAL BUSHINGS MARKET 97
5.17 MACROECONOMIC OUTLOOK 99
5.17.1 GDP OUTLOOK 99
5.17.2 RESEARCH & DEVELOPMENT EXPENDITURE 99
5.17.3 INVESTMENTS BY END USERS 100
5.17.4 POWER SECTOR GROWTH 101
6 ELECTRICAL BUSHINGS MARKET, BY APPLICATION 102
6.1 INTRODUCTION 103
6.2 TRANSFORMERS 104
6.2.1 INCREASING DEVELOPMENT OF GRID INFRASTRUCTURE TO BOOST SEGMENTAL GROWTH 104
6.3 SWITCHGEARS 105
6.3.1 RAPID INDUSTRIALIZATION AND URBANIZATION TO AUGMENT SEGMENTAL GROWTH 105
6.4 OTHER APPLICATIONS 106
7 ELECTRICAL BUSHINGS MARKET, BY END USER 108
7.1 INTRODUCTION 109
7.2 UTILITIES 110
7.2.1 INCREASING PENETRATION OF RENEWABLE ENERGY SOURCES TO BOLSTER SEGMENTAL GROWTH 110
7.3 INDUSTRIAL 111
7.3.1 GROWING EMPHASIS ON AUTOMATION AND DIGITALIZATION TO FUEL MARKET GROWTH 111
7.4 COMMERCIAL 112
7.4.1 INCREASING CONSTRUCTION OF ENERGY-EFFICIENT AND SUSTAINABLE BUILDINGS TO SPUR DEMAND 112
7.5 DATA CENTERS 113
7.5.1 RISING NEED FOR UNINTERRUPTED AND EFFICIENT POWER SUPPLY SYSTEMS TO DRIVE MARKET 113
7.6 RENEWABLES 114
7.6.1 INCREASING RELIANCE ON CLEAN ENERGY SOURCES FOR POWER GENERATION TO BOOST SEGMENTAL GROWTH 114
7.7 OTHER END USERS 116
8 ELECTRICAL BUSHINGS MARKET, BY INSULATION MATERIAL 118
8.1 INTRODUCTION 119
8.2 PORCELAIN 120
8.2.1 OPERATIONAL RELIABILITY IN POWER TRANSMISSION AND DISTRIBUTION SYSTEMS TO FUEL DEMAND 120
8.3 POLYMER 121
8.3.1 ENHANCED FLEXIBILITY AND LIGHTWEIGHT PROPERTIES TO FOSTER SEGMENTAL GROWTH 121
8.4 GLASS 122
8.4.1 DURABILITY, CHEMICAL RESISTANCE, AND DIELECTRIC PERFORMANCE TO FUEL SEGMENTAL GROWTH 122
9 ELECTRICAL BUSHINGS MARKET, BY TYPE 124
9.1 INTRODUCTION 125
9.2 OIL IMPREGNATED PAPER BUSHINGS 126
9.2.1 COST-EFFECTIVENESS AND LONGER OPERATIONAL LIFESPAN TO ACCELERATE SEGMENTAL GROWTH 126
9.3 RESIN IMPREGNATED PAPER BUSHINGS 127
9.3.1 INCREASING CONSUMPTION OF RENEWABLE ENERGY AND GRID MODERNIZATION TO BOOST DEMAND 127
9.4 OTHER TYPES 129
10 ELECTRICAL BUSHINGS MARKET, BY VOLTAGE 131
10.1 INTRODUCTION 132
10.2 UP TO 36 KV 133
10.2.1 GROWING EMPHASIS ON MODERNIZING URBAN INFRASTRUCTURE TO DRIVE MARKET 133
10.3 37–230 KV 134
10.3.1 INCREASING URBANIZATION, INDUSTRIALIZATION, AND CROSS–BORDER ENERGY TRADING TO AUGMENT SEGMENTAL GROWTH 134
10.4 ABOVE 230 KV 135
10.4.1 RISING NEED FOR LONG-DISTANCE POWER TRANSMISSION TO FACILITATE SEGMENTAL GROWTH 135
11 ELECTRICAL BUSHINGS MARKET, BY REGION 137
11.1 INTRODUCTION 138
11.2 ASIA PACIFIC 141
11.2.1 CHINA 146
11.2.1.1 Strategic focus on grid modernization to accelerate demand 146
11.2.2 INDIA 147
11.2.2.1 Rapid urbanization and energy demand to support market growth 147
11.2.3 JAPAN 148
11.2.3.1 Energy transition and grid modernization to drive market 148
11.2.4 AUSTRALIA 150
11.2.4.1 Growing need for robust electrical infrastructure to foster market growth 150
11.2.5 REST OF ASIA PACIFIC 151
11.3 NORTH AMERICA 152
11.3.1 US 158
11.3.1.1 Investments in clean energy to accelerate market growth 158
11.3.2 CANADA 159
11.3.2.1 Deployment of advanced electrical bushings to support market growth 159
11.3.3 MEXICO 160
11.3.3.1 Rapid infrastructure development to drive market 160
11.4 EUROPE 162
11.4.1 GERMANY 167
11.4.1.1 Rising investment in green energy to accelerate market growth 167
11.4.2 UK 168
11.4.2.1 Increasing focus on expanding power transmission networks to drive market 168
11.4.3 FRANCE 169
11.4.3.1 Growing consumption of renewable energy to meet decarbonization targets to spur demand 169
11.4.4 REST OF EUROPE 170
 
11.5 MIDDLE EAST & AFRICA 172
11.5.1 GCC 176
11.5.1.1 Saudi Arabia 177
11.5.1.1.1 Growing emphasis on renewable energy and infrastructure modernization to foster market growth 177
11.5.1.2 UAE 179
11.5.1.2.1 Rapid development of advanced electrical infrastructure to drive market 179
11.5.1.3 Rest of GCC 180
11.5.2 SOUTH AFRICA 182
11.5.2.1 Increasing generation of renewable energy to foster market growth 182
11.5.3 REST OF MIDDLE EAST & AFRICA 183
11.6 SOUTH AMERICA 185
11.6.1 BRAZIL 190
11.6.1.1 Ambitious policy and investments in electricity infrastructure to fuel demand 190
11.6.2 ARGENTINA 191
11.6.2.1 Increasing reliance on renewable energy sources for power generation to fuel market growth 191
11.6.3 REST OF SOUTH AMERICA 193
12 COMPETITIVE LANDSCAPE 195
12.1 INTRODUCTION 195
12.2 REVENUE ANALYSIS, 2019–2023 199
12.3 MARKET SHARE ANALYSIS, 2023 200
12.4 COMPANY VALUATION AND FINANCIAL METRICS, 2024 203
12.5 PRODUCT COMPARISON 204
12.6 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 205
12.6.1 STARS 205
12.6.2 EMERGING LEADERS 205
12.6.3 PERVASIVE PLAYERS 205
12.6.4 PARTICIPANTS 205
12.6.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 207
12.6.5.1 Company footprint 207
12.6.5.2 Region footprint 208
12.6.5.3 Type footprint 209
12.6.5.4 Application footprint 210
12.6.5.5 Voltage footprint 211
 
12.7 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 212
12.7.1 PROGRESSIVE COMPANIES 212
12.7.2 RESPONSIVE COMPANIES 212
12.7.3 DYNAMIC COMPANIES 212
12.7.4 STARTING BLOCKS 212
12.7.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023 214
12.7.5.1 Detailed list of key startups/SMEs 214
12.7.5.2 Competitive benchmarking of key startups/SMEs 215
12.8 COMPETITIVE SCENARIO 215
12.8.1 PRODUCT LAUNCHES 216
12.8.2 DEALS 216
12.8.3 EXPANSIONS 219
13 COMPANY PROFILES 221
13.1 KEY PLAYERS 221
13.1.1 ABB 221
13.1.1.1 Business overview 221
13.1.1.2 Products/Solutions/Services offered 222
13.1.1.3 Recent developments 223
13.1.1.3.1 Deals 223
13.1.1.3.2 Expansions 224
13.1.1.3.3 Other developments 225
13.1.1.4 MnM view 225
13.1.1.4.1 Key strengths 225
13.1.1.4.2 Strategic choices 225
13.1.1.4.3 Weaknesses and competitive threats 225
13.1.2 SIEMENS 226
13.1.2.1 Business overview 226
13.1.2.2 Products/Solutions/Services offered 227
13.1.2.3 Recent developments 228
13.1.2.3.1 Product launches 228
13.1.2.3.2 Deals 229
13.1.2.4 MnM view 229
13.1.2.4.1 Key strengths 229
13.1.2.4.2 Strategic choices 229
13.1.2.4.3 Weaknesses and competitive threats 230
13.1.3 HITACHI ENERGY LTD 231
13.1.3.1 Business overview 231
13.1.3.2 Products/Solutions/Services offered 232
13.1.3.3 Recent developments 233
13.1.3.3.1 Developments 233
 
13.1.3.4 MnM view 234
13.1.3.4.1 Key strengths 234
13.1.3.4.2 Strategic choices 234
13.1.3.4.3 Weaknesses and competitive threats 234
13.1.4 EATON 235
13.1.4.1 Business overview 235
13.1.4.2 Products/Solutions/Services offered 236
13.1.4.3 Recent developments 237
13.1.4.3.1 Deals 237
13.1.4.3.2 Expansions 238
13.1.4.4 MnM view 239
13.1.4.4.1 Key strengths 239
13.1.4.4.2 Strategic choices 239
13.1.4.4.3 Weaknesses and competitive threats 239
13.1.5 GENERAL ELECTRIC COMPANY 240
13.1.5.1 Business overview 240
13.1.5.2 Products/Solutions/Services offered 241
13.1.5.3 Recent developments 242
13.1.5.3.1 Deals 242
13.1.5.3.2 Other developments 243
13.1.5.4 MnM view 243
13.1.5.4.1 Key strengths 243
13.1.5.4.2 Strategic choices 243
13.1.5.4.3 Weaknesses and competitive threats 243
13.1.6 SCHNEIDER ELECTRIC 244
13.1.6.1 Business overview 244
13.1.6.2 Products/Solutions/Services offered 245
13.1.6.3 Recent developments 246
13.1.6.3.1 Expansions 246
13.1.7 CG POWER & INDUSTRIAL SOLUTIONS LTD. 247
13.1.7.1 Business overview 247
13.1.7.2 Products/Solutions/Services offered 248
13.1.8 TRENCH GROUP 249
13.1.8.1 Business overview 249
13.1.8.2 Products/Solutions/Services offered 250
13.1.8.3 Recent developments 251
13.1.8.3.1 Deals 251
13.1.9 HUBBELL 252
13.1.9.1 Business overview 252
13.1.9.2 Products/Solutions/Services offered 253
 
13.1.10 POLYCAST INTERNATIONAL 255
13.1.10.1 Business overview 255
13.1.10.2 Products/Solutions/Services offered 255
13.1.11 RHM INTERNATIONAL, LLC 257
13.1.11.1 Business overview 257
13.1.11.2 Products/Solutions/Services offered 257
13.1.12 RELIANCE POTTERIES 258
13.1.12.1 Business overview 258
13.1.12.2 Products/Solutions/Services offered 258
13.1.13 PFISTERER HOLDING SE 260
13.1.13.1 Business overview 260
13.1.13.2 Products/Solutions/Services offered 260
13.1.14 WEBSTER WILKINSON LTD. 262
13.1.14.1 Business overview 262
13.1.14.2 Products/Solutions/Services offered 262
13.1.15 BUSHING (BEIJING) HV ELECTRIC CO., LTD 264
13.1.15.1 Business overview 264
13.1.15.2 Products/Solutions/Services offered 264
13.1.16 NEXANS 267
13.1.16.1 Business overview 267
13.1.16.2 Products/Solutions/Services offered 268
13.1.16.3 Recent developments 269
13.1.16.3.1 Deals 269
13.1.17 YASH HIGHVOLTAGE INSULATORS PVT. LTD. 270
13.1.17.1 Business overview 270
13.1.17.2 Products/Solutions/Services offered 271
13.1.17.3 Recent developments 272
13.1.17.3.1 Product launches 272
13.1.18 NU-CORK PRODUCTS PVT LTD 273
13.1.18.1 Business overview 273
13.1.18.2 Products/Solutions/Services offered 274
13.1.19 CHINSUN 275
13.1.19.1 Business overview 275
13.1.19.2 Products/Solutions/Services offered 275
13.1.20 AMMA INSULATORS 277
13.1.20.1 Business overview 277
13.1.20.2 Products/Solutions/Services offered 277
 
13.2 OTHER PLAYERS 278
13.2.1 DALIAN HIVOLT POWER SYSTEM CO., LTD. 278
13.2.2 NANJING ELECTRIC HV BUSHING CO., LTD 279
13.2.3 BAODING HEWEI POWER TECHNOLOGY CO., LTD 280
13.2.4 MASSA IZOLYATOR MEHRU PVT. LTD. (MIM PVT. LTD.) 281
13.2.5 POINSA 282
14 APPENDIX 283
14.1 INSIGHTS FROM INDUSTRY EXPERTS 283
14.2 DISCUSSION GUIDE 283
14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 287
14.4 CUSTOMIZATION OPTIONS 289
14.5 RELATED REPORTS 289
14.6 AUTHOR DETAILS 290