Silicon-based Electrical Bushing Market size registered a profitable valuation of USD 647.8 million in 2024 and is poised to reach USD 1.6 billion by 2037, expanding at a CAGR of 7.5% during the forecast period, i.e., 2025-2037. In 2025, the industry size of silicone-based electrical bushing is estimated at USD 696.3 million. The market’s profitable growth curve is attributed to rising demands for reliable insulation material in various industries, such as power generation, transmission, and distribution. Silicone bushings offer advantages such as superior insulation, durability, and low maintenance that increase adoption rates in electrical equipment. Advancements in silicone rubber boost the durability of silicone-based bushing enabling them to be positioned as premier insulation solutions.
The global increase in demand for electricity fuels the need for robust installation solutions for efficient operation of electrical equipment. For instance, the International Energy Agency estimates the global demand for electricity to rise at an average of 3.4% annually from 2023 to 2026. An increased demand for electricity correlates with the expansion of power generation capacity and necessitates the need to upgrade existing power grids with new equipment. This boost demands for bushings to be integrated into power grids and substations. Additionally, the rapid growth of the electric vehicle market fuels the expansion of charging infrastructure that necessitates robust bushing insulation solutions. By the end of the forecast period, emerging economies are poised to provide profitable opportunities to the silicon-based electrical bushing market owing to rapid urbanization and industrialization.
The global push to integrate renewable energy solutions assists the rapid expansion of the market. This benefits the market due to the increased emphasis on the development of solar, wind, and hydroelectric power generation systems. Silicone-based bushings are essential components in these systems owing to their dielectric strength and ability to withstand high voltage. Additionally, renewable sources of energy have pushed the installation of remote microgrids that require silicone-bushing insulation solutions for high-voltage terminals. With increasing investments in research and development to improve silicone formulations and push to adopt eco-friendly materials, the silicon-based electrical bushing market is positioned to maintain its profitable growth curve by the end of 2037.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
7.5% |
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Base Year Market Size (2024) |
USD 647.8 million |
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Forecast Year Market Size (2037) |
USD 1.6 billion |
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Regional Scope |
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End use (Industries and Utility)
By end use, the industry segment is anticipated to capture over 63.2% silicon-based electrical bushing market share by 2037. The segment’s growth is driven by the large-scale adoption of silicon-based electrical bushing solutions across various industries such as manufacturing, automation, agriculture, etc. The eco-friendly nature of silicone-based bushing along with its durability and resistance to extreme temperatures, makes it a lucrative option for industries.
Additionally, the silicon-based electrical bushing market opportunities in the industry segment are abundant due to the constant upgrade of infrastructure to improve operations. Government incentives and subsidies for industries for energy solutions also necessitate the need to upgrade infrastructure to adopt renewable energy. For instance, in August 2023, the International Monetary Fund estimated fossil fuel subsidies to reach USD 7 trillion during the Russia and Ukraine conflict and post-pandemic, to support industry recovery from the economic slowdown. This creates new opportunities to cater to growing demands for bushing solutions in infrastructure leveraging renewable energy.
The utility segment in the global silicon-based electrical sector is poised to increase its revenue share by the end of the forecast period. The segment’s growth is owed to its key role in power transmission and distribution. Utilities depend on bushings solutions for insulation in high-voltage applications and silicone-based bushing solutions are increasingly being adopted in transformers and sub-stations owing to their durability. Rising electricity demands in various sectors have led to the increasing adoption of silicon-based bushing solutions by utility companies.
Application (Transformer and Switchgear)
The transformers segment in silicon-based electrical bushing market is projected for rapid growth during the forecast period. The profit surge is owed to power transformers position as a critical component in electrical power systems. The segment requires a significant number of bushings for insulation and owing to the widespread use of transformers in various industries, the silicon-based electrical bushing market share of the segment is poised to increase. Transformers also require robust bushing solutions as they are subjected to harsh weather conditions and silicon-based electrical bushing solutions are positioned to cater to the demands. With growing urbanization and industrialization, the demand for robust transformers will continue to grow, thereby boosting demand for silicone-based bushing solutions.
Our in-depth analysis of the global silicon-based electrical bushing market includes the following segments:
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End use |
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Application |
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Insulation |
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Voltage |
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APAC Market Forecast
Asia Pacific in silicon-based electrical bushing market is anticipated to dominate over 32.7% revenue share by 2037. The market’s growth is attributed to rapid industrialization and urbanization boosting electricity demands in countries such as China, India, Japan, and South Korea. Increasing investments in power generation, transmission, and distribution necessitate robust insulation solutions to protect electrical equipment, opening opportunities for silicon-based electrical bushing solutions.
APAC remains a promising silicon-based electrical bushing market for renewable energy, with China being the global leader in the manufacturing of solar equipment. This allows the region to invest in upgrading energy infrastructure to leverage renewable energy for power solutions, that require silicon-based electrical bushings. For instance, in September 2024, the Energy Market Authority of Singapore announced the Lao PRD-Thailand-Malaysia-Singapore power integration project (LTMS-PIP) will be enhanced to double the capacity of electricity traded in phase two.
India is poised to have the largest share in the APAC silicon-based electrical bushing market owing to the country’s robust manufacturing setup that has positioned it as the largest exporter of electrical bushings globally. More than 20 thousand shipments of electrical bushings from India in 2024, making it the global leader in bushing exports. This benefits the domestic market as demand for silicon-based electrical bushing increases. Additionally, the government has actively invested in modernizing grid infrastructure in the country which bodes well for the market. For instance, in August 2024, India approved USD 428.4 million for power grid updates for the distribution infrastructure in Gurugram and Faridabad.
China is projected to have a significant share in the APAC silicon-based electrical bushing market owing to large-scale investments in power grids. China invested more in power grids compared to other countries, with investment amounting to USD approximately 166 billion in 2022. The investments are projected to increase demand for robust insulation solutions in smart grids. The country is also leading in the renewables race by establishing itself as a global leader in solar energy system manufacturing and is poised to spend approximately USD 680 billion on green energy in 2024 as per the IEA. The trends bode well for the silicon-based electrical bushing sector as demands are projected to soar.
North America Market Analysis
The North America silicon-based electrical bushing market sector is projected to register the fastest growth during the forecast period. The growth is owed to robust power generation and distribution infrastructure in the region that creates a steady demand for silicon-based bushing solutions. The market’s growth is led by the U.S. and Canada investing heavily to upgrade aging infrastructure.
Additionally, the rapid growth in the high-voltage switchgear in North America correlates with an increase in demand for electrical bushing solutions. By the end of the forecast period, North America is projected to witness increasing investments in microgrids, renewable power solutions, and research on silicon materials, which is projected to continue the silicon-based electrical bushing market’s profitable growth curve.
The U.S. leads the North America market for silicon-based electrical bushing. The government has invested in upgrading of aging grid infrastructure in the country, creating profitable opportunities for silicon-based bushing solutions distributors. For instance, in October 2024, the U.S. Department of Energy announced investments of USD 1.5 billion to bolster the country’s electricity grid and deliver affordable electricity. Additionally, the rising adoption of electric vehicles is projected to further bolster the silicon-based electrical bushing market’s growth in the country.
Canada is poised to increase its revenue share by the end of the forecast period in the silicon-based electrical bushing sector of North America. The demand for robust insulation solutions for high-voltage applications is growing in the country. For instance, in July 2024, Hydro-Québec announced a USD 9 billion wind power project in North America that can generate up to 3000 megawatts of power. This boosts demands for silicon-based electrical bushings to connect the high-voltage output of the wind turbine’s generator to a local substation or a grid. With increasing investments by the government in clean energy projects and microgrids, the demand for bushing solutions is projected to remain steady during the forecast period in Canada.
The global silicon-based electrical bushing market is poised to register profitable growth during the forecast period. Key market players are investing in improving their silicon-based insulation solutions to reduce tear and withstand higher voltage to expand the scope of the solutions.
Here are some key players in the market:
Author Credits: Dhruv Bhatia
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