유틸리티 규모 전기 부싱 시장 : 시장 기회, 성장 촉진요인, 산업 동향 분석, 예측(2025-2034년)

The Global Utility Scale Electrical Bushing Market was valued at USD 2.9 billion in 2024 and is estimated to grow at a CAGR of 6.3% to reach USD 5.3 billion by 2034. As electricity consumption increases worldwide, the need for efficient high-voltage transmission systems becomes more critical. Electrical bushings play a key role in these systems, ensuring secure and stable current flow between power equipment such as transformers and overhead lines. With grid modernization efforts gaining momentum globally, bushings are being upgraded to meet higher performance standards, accommodate renewable energy integration, and reduce long-term maintenance costs.

Technological improvements in materials are transforming the utility-scale bushing landscape. Advanced insulation technologies and high-durability materials are extending the operational life and performance of electrical bushings under demanding conditions. The push for smarter and more resilient power grids has also encouraged manufacturers to invest in research and development, introducing new designs that enhance mechanical strength and improve dielectric properties. Environmental factors and regulatory pressures are further influencing product innovation, with a growing preference for lightweight, low-maintenance, and eco-conscious bushing solutions. As nations scale up renewable energy installations and reinforce their electrical networks, utility-scale bushings are expected to remain vital components in grid infrastructure planning and investment strategies.

The market, based on bushing type, is segmented into resin impregnated paper (RIP), oil impregnated paper (OIP), and other variations. Among these, the OIP segment is projected to lead in terms of revenue, expected to surpass USD 3.1 billion by the end of 2034. These bushings continue to be favored for their consistent performance in high-voltage applications, especially in systems that rely on proven, long-established technologies. Their initial cost advantage also makes them a cost-effective choice for utilities that prioritize economic feasibility without compromising reliability. While newer alternatives exist, OIP bushings are expected to maintain a dominant market presence throughout the forecast period.

On the basis of insulation material, the market is divided into porcelain, polymeric, and glass categories. The polymeric segment is set to account for the largest share, commanding 44.4% of the global market in 2024, and is projected to expand at a strong pace through 2034. Polymeric bushings offer significant advantages in terms of ease of handling and installation, especially in compact substation environments and dense urban areas. Their superior performance under harsh environmental conditions and growing acceptance due to sustainability goals are driving widespread adoption. As utilities prioritize systems that are lighter, more durable, and easier to maintain, polymeric options are expected to see robust demand over the next decade.

In the United States, the utility scale electrical bushing market is witnessing solid growth, driven by aggressive infrastructure modernization efforts. The U.S. market was valued at USD 367.4 million in 2022, increased to USD 393.5 million in 2023, and reached USD 420.4 million in 2024. The country is actively replacing outdated grid components to improve reliability and accommodate new energy sources, prompting a rise in demand for high-performance bushings. Investments in transmission systems that support renewables and smart grid technologies are particularly fueling the need for durable and efficient bushing solutions across utility sectors.

The industry is moderately consolidated, with the top five companies collectively holding more than 40% of the market share. These major players significantly influence the industry by setting performance benchmarks and shaping product standards. Their strong global presence enables them to participate in regulatory discussions and contribute to the development of international standards. Innovation remains a key focus for these firms, who continue to invest in enhanced bushing materials, real-time monitoring capabilities, and environmentally friendly product lines. Smaller players often follow suit, adopting proven technologies once they gain industry acceptance, creating a ripple effect across the competitive landscape.

Table of Contents

Chapter 1 Methodology & Scope

• 1.1 Market definitions
• 1.2 Base estimates & calculations
• 1.3 Forecast calculation
• 1.4 Data sources
  • 1.4.1 Primary
  • 1.4.2 Secondary
    • 1.4.2.1 Paid
    • 1.4.2.2 Public

Chapter 2 Executive Summary

• 2.1 Industry synopsis, 2021 - 2034

Chapter 3 Industry Insights

• 3.1 Industry ecosystem analysis
• 3.2 Trade administration tariff analysis
  • 3.2.1 Impact on trade
    • 3.2.1.1 Trade volume disruptions
    • 3.2.1.2 Retaliatory measures
  • 3.2.2 Impact on the industry
    • 3.2.2.1 Supply-side impact (raw materials)
      • 3.2.2.1.1 Price volatility in key materials
      • 3.2.2.1.2 Supply chain restructuring
      • 3.2.2.1.3 Production cost implications
    • 3.2.2.2 Demand-side impact (selling price)
      • 3.2.2.2.1 Price transmission to end markets
      • 3.2.2.2.2 Market share dynamics
      • 3.2.2.2.3 Consumer response patterns
• 3.3 Regulatory landscape
• 3.4 Industry impact forces
  • 3.4.1 Growth drivers
  • 3.4.2 Industry pitfalls & challenges
• 3.5 Growth potential analysis
• 3.6 Porter's analysis
  • 3.6.1 Bargaining power of suppliers
  • 3.6.2 Bargaining power of buyers
  • 3.6.3 Threat of new entrants
  • 3.6.4 Threat of substitutes
• 3.7 PESTEL analysis

Chapter 4 Competitive Landscape, 2024

• 4.1 Introduction
• 4.2 Strategy dashboard
• 4.3 Strategic initiatives
• 4.4 Company market share analysis, 2024
• 4.5 Competitive benchmarking
• 4.6 Innovation & sustainability landscape

Chapter 5 Market Size and Forecast, By Bushing Type, 2021 - 2034, (USD Million, '000 Units)

• 5.1 Key trends
• 5.2 Oil impregnated paper (OIP)
• 5.3 Resin impregnated paper (RIP)
• 5.4 Others

Chapter 6 Market Size and Forecast, By Insulation, 2021 - 2034, (USD Million, '000 Units)

• 6.1 Key trends
• 6.2 Porcelain
• 6.3 Polymeric
• 6.4 Glass

Chapter 7 Market Size and Forecast, By Application, 2021 - 2034, (USD Million, '000 Units)

• 7.1 Key trends
• 7.2 Transformer
• 7.3 Switchgear
• 7.4 Others

Chapter 8 Market Size and Forecast, By Region, 2021 - 2034, (USD Million, '000 Units)

• 8.1 Key trends
• 8.2 North America
  • 8.2.1 U.S.
  • 8.2.2 Canada
  • 8.2.3 Mexico
• 8.3 Europe
  • 8.3.1 Germany
  • 8.3.2 France
  • 8.3.3 Russia
  • 8.3.4 UK
  • 8.3.5 Spain
  • 8.3.6 Italy
  • 8.3.7 Netherlands
• 8.4 Asia Pacific
  • 8.4.1 China
  • 8.4.2 Japan
  • 8.4.3 South Korea
  • 8.4.4 Australia
  • 8.4.5 India
• 8.5 Middle East & Africa
  • 8.5.1 Saudi Arabia
  • 8.5.2 UAE
  • 8.5.3 South Africa
• 8.6 Latin America
  • 8.6.1 Brazil
  • 8.6.2 Argentina

Chapter 9 Company Profiles

• 9.1 ABB
• 9.2 Barberi Rubinetterie Industriali
• 9.3 CG Power and Industrial Solutions
• 9.4 Eaton
• 9.5 Elliot Industries
• 9.6 General Electric
• 9.7 GIPRO
• 9.8 Hitachi Energy
• 9.9 Hubbell
• 9.10 Jiangxi Johnson Electric
• 9.11 Liyond
• 9.12 Meister International
• 9.13 Maschinenfabrik Reinhausen
• 9.14 Nexans
• 9.15 Poinsa
• 9.16 Polycast
• 9.17 PFISTERER
• 9.18 Siemens Energy