Silicon-based Electrical Bushing Market Share

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.