Glass Insulated Electrical Bushing Market Share

Asia Pacific Market Statistics

The Asia Pacific is expected to continue its dominance in the glass insulated electrical bushing market during the forecast timeline i.e. 2025-2037 due to rapid industrialization and urbanization that has created an enormous need for efficient power transmission infrastructure, accommodating the installation of high-voltage equipment. Moreover, renewable energy sources focus on advanced electrical components and the installation of glass-insulated electrical bushings in substations and renewable energy projects. Innovations in the product development area have resulted in significant investments in research and development, aiming toward greater durability and improved thermal performance. 

In January 2024, the International Energy Agency mentioned that China is evolving six years earlier than the government had targeted for the commitment to renewable energy development with a target of 1200 GW of installed wind and solar capacity by 2030. Furthermore, the integration of advanced electrical bushing components accelerates the demand clubbed with sustainability since firms are increasingly investing in developing greener manufacturing processes to minimize carbon composition.

With the inclination toward ensuring reliable power energy transmission and streamlining its distribution network, the local government of India has solidified the structure of the electrical framework through its Revamped Distribution Sector Scheme (RDSS). In February 2024, as notified by the Union Minister for Power and New & Renewable Energy, the government enlightened a total of USD 28.6 million households and electrified the un-electrified villages by rendering renewable sources.  

North America Market Analysis

North America follows a consistent growth trend determined by investments in renewable energy sources and redeveloping old infrastructure. The glass insulated electrical bushing market is also expanding as the region’s energy demands and technological innovation in electrical insulation continue to emerge. Moreover, research and development coupled with increasing voltage levels in electrical networks give impetus to utilities and manufacturers opting for glass-insulated over conventional bushings. Their performance and lifespan are improved by using advanced materials and manufacturing processes, thus attracting utility companies looking for efficacy of the system's dependability.

In February 2023, the U.S. Energy Information Administration (EIA) report stated that almost 70% of the transmission lines in the U.S. are aged over 25 years. In addition, the replacement and upgrading of aging electrical components with glass-insulated bushings that have superior insulation properties and reliability is an absolute necessity. This transformation requires robust electrical infrastructure boosting glass insulated bushings owing to their rugged nature to withstand challenging environmental conditions.

The glass insulated electrical bushing market in Canada will grow stably, primarily because of the development in infrastructure and the transition towards sustainable energy solutions, in December 2022, Hitachi announced that it is advancing a sustainable energy future and has been chosen by Hydro-Québec for the transmission of electricity using its high-voltage direct current (HVDC) technology to ensure the sustainability of the energy exchange between the Quebec network in eastern Canada and New York State in the northeastern U.S.