Silicon-based Electrical Bushing Market Analysis

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: