Electrical Bushings Market Report

Electrical Bushings Market Overview

The Electrical Bushings Market size was valued at USD 2301.52 million in 2024 and is expected to reach USD 2799.41 million by 2033, growing at a CAGR of 2.2% from 2025 to 2033.

The electrical bushings market plays a critical role in high-voltage applications, serving as key insulation devices across transformers, switchgear, and other power system components. As of 2023, the global installed base of electrical bushings surpassed 12 million units, with Oil Impregnated Paper (OIP) bushings comprising approximately 9 million units, or around 75% of total installations. Resin Impregnated Paper (RIP) bushings held a share of about 3 million units, making up 25% of the market.

Annual demand for electrical bushings reached over 450,000 units, driven by rising investment in electrical infrastructure, aging grid replacement, and expansion of renewable energy projects. Transformer bushings accounted for 52% of this demand, while switchgear bushings made up 28%, and other applications such as reactors and capacitors comprised the remaining 20%. OIP bushings are commonly used in high-voltage systems and have a service life of around 30 years, whereas RIP bushings typically offer around 25 years of operational lifespan. Regionally, Asia-Pacific dominates the market with approximately 4.6 million installed units, equating to 38% of global demand. North America and Europe follow, accounting for 27% and 22%, respectively. The Middle East and Africa hold a combined share of around 13%, with steady year-over-year growth driven by electrification efforts.

Key Findings

Driver: Rising demand for high-voltage transmission infrastructure and grid modernization projects.

Country/Region: Asia-Pacific, accounting for 38% of global installed units in 2023.

Segment: Oil Impregnated Paper (OIP) bushings, representing approximately 75% of the market.

Electrical Bushings Market Trends

The electrical bushings market is experiencing consistent growth fueled by infrastructure upgrades, urbanization, and renewable energy expansion. In 2023, more than 450,000 new bushings were installed globally, marking a steady increase from 415,000 units in 2021. This growth is directly linked to the need for modernizing aging electrical grids and expanding high-voltage transmission networks. Oil Impregnated Paper (OIP) bushings continue to dominate the market, with a global installed base exceeding 9 million units. These bushings are widely used in power transformers, which made up 52% of total bushing applications in 2023. Switchgear installations accounted for 28%, while reactors, capacitors, and other systems made up the remaining 20%. The average lifespan of OIP bushings is approximately 30 years, making them a long-term solution for utilities. However, rising oil costs and environmental concerns are encouraging a gradual shift to alternative technologies. Resin Impregnated Paper (RIP) bushings are gaining momentum due to their eco-friendliness and maintenance-free characteristics. In 2023, RIP bushing installations reached over 3 million units, up 12% from the previous year. These bushings are favored in modular substations and urban grid installations, where fire safety and compact size are essential. Asia-Pacific leads all regional markets with more than 172,000 units installed in 2023 alone. North America followed closely with 121,000 units, and Europe added 99,000 units. The Middle East and Africa saw a moderate increase, with 58,000 units installed, indicating growing grid investments in emerging economies. Another significant trend is the shift toward smart bushing technologies. As of 2023, 17% of new bushing installations included built-in sensors for temperature, humidity, and partial discharge monitoring. This was up from 8% in 2021. The adoption of smart bushings allows for predictive maintenance, reducing downtime and improving system reliability. Sustainability is also playing a crucial role in reshaping the market. Over 60% of new utility orders now include environmental compliance requirements, particularly for non-PCB materials and recyclable components. Manufacturers have responded by increasing production of environmentally friendly products, with green-certified units growing by 18% year-on-year. The increased focus on high-voltage installations is another factor influencing market dynamics. Bushings rated above 230 kV accounted for 32% of total units in 2023, reflecting the global transition toward high-capacity power systems. This segment is expected to remain strong due to large-scale power transmission projects in India, China, and the Middle East.

Electrical Bushings Market Dynamics

DRIVER

Expansion of power grids and electrification programs

Expansion in power transmission networks and nationwide electrification programs has driven demand for electrical bushings. In 2023, over 450,000 new bushings were installed globally—234,000 in transformer applications and 126,000 in switchgear systems. Urban electrification projects in India and China required 178,000 additional bushings, while large-scale renewable grid integrations in the U.S. and Brazil added 98,500 units. National electrification initiatives reached an estimated 120 million households in Asia-Pacific during 2023, and utilities replaced aging assets with 32,000 bushing retrofits in North America. The trend toward high-voltage transmission is also evident: 32% of all bushings installed in 2023 were rated 230 kV and above, up from 28% in 2021. High-altitude, long-distance lines in Middle East & Africa required installation of 18,500 high-voltage OIP bushings. Meanwhile, ongoing smart grid upgrades led utilities in Europe to add 21,000 smart bushings, representing 21% of regional installations and supporting predictive maintenance capabilities.

RESTRAINT

Environmental regulations and oil-related restrictions

Oil Impregnated Paper (OIP) bushings continue to dominate with 9 million units, but environmental pressures and restrictions on dielectric oil systems pose challenges. Stringent regulations now require bushings to be PCB-free, with 60% of utility procurements in Europe and North America enforcing this standard in 2023. This regulatory shift has delayed orders for 38,000 new OIP bushings in favor of resin-based alternatives. Additionally, oil leakage incidents—1,800 cases reported globally in 2023—led to increased liability costs and maintenance shutdowns.

OPPORTUNITY

Adoption of smart and sensor-integrated bushings

Smart and sensor-integrated bushings offer new opportunities in grid management. In 2023, 17% of new bushing units included embedded partial discharge, capacitance, or temperature sensors—equating to 76,500 smart bushings. By 2024, this share is expected to rise to 25%, enabling real-time monitoring of approximately 225,000 units globally. Utilities in North America processed 85,000 sensor-based readings monthly, reducing failure incidents by 23%. Smart bushings also find uptake in renewable facilities: wind farms in Europe deployed 12,000 sensor-enabled bushings to support grid-connected turbines. In Asia-Pacific, 14,500 intelligent bushings were installed in modular substations paired with renewable microgrids. Sensor integration can extend service life by 22% through timely maintenance, reducing grid downtime and improving asset performance.

CHALLENGE

High initial cost and technical expertise requirements

While sensor-integrated and resin bushings offer benefits, initial costs are approximately 20–25% higher than traditional OIP designs—requiring up to USD 6,000–8,000 per unit. This higher cost constrains adoption in cost-sensitive emerging markets. Technical training remains a challenge: only 38% of utility technicians in Africa and South America are trained in smart bushing technology. In 2023, approximately 74,000 units in these regions were installed without proper sensor calibration, leading to 8% faulty readings and performance issues.

Electrical Bushings Market Segmentation

The electrical bushings market is segmented by type—Oil Impregnated Paper (OIP), Resin Impregnated Paper (RIP), and others—and by application, including utilities, industries, and other systems.

By Type

Oil Impregnated Paper (OIP): OIP bushings dominate with roughly 75% market share, totaling 9 million units globally. In 2023, over 340,000 OIP bushings were installed, 70% in utility transmission systems and 30% in industrial transformers. These bushings have a median service life of 30 years, though many have exceeded 35 years in older utilities.
Resin Impregnated Paper (RIP): RIP bushings now represent 25% of installations, with 3 million units globally, up 12% from 2022. In 2023, 110,000 RIP units were deployed, mainly for medium-voltage applications ranging from 69 kV to 230 kV. Industry segments such as petrochemical plants and data centers accounted for 34% of RIP adoption, favoring maintenance-free designs.
Others: Specialty types—such as epoxy resin, porcelain, and composite bushings—account for about 1 million units in service. Annual installations reached 7,000 units in 2023, primarily in portable substations and high-altitude wind power systems. These bushings offer lightweight designs and weigh up to 40% less than traditional models.

By Application

Utilities: Utilities represent the largest segment by application, installing 234,000 transformer bushings and 126,000 switchgear bushings in 2023. Utilities also deployed 47,000 sensor-equipped units. Transmission utilities replaced 62,000 OIP bushings nearing end of service life.
Industries: Industrial end markets—such as manufacturing, oil & gas, and data centers—installed 112,000 bushing units in 2023: comprising 72,000 RIP units, 28,000 OIP units, and 12,000 specialty types. Industries select RIP and specialty bushings for reduced maintenance and high safety standards.
Others: Other applications include rail traction systems, power plants, and capacitor/reactor installations, with 90,000 units installed in 2023. This category includes 56,000 bushing units in capacitor banks, 22,000 in reactor systems, and 12,000 for other uses.

Electrical Bushings Market Regional Outlook

The electrical bushings market demonstrates distinct regional characteristics influenced by infrastructure maturity, energy demand, and grid modernization efforts. As of 2023, the total installed base of electrical bushings exceeded 12 million units globally, with key contributions from Asia-Pacific, North America, Europe, and the Middle East & Africa.

North America

North America maintains an installed base of approximately 3.2 million bushings, accounting for 27% of the global market. In 2023, more than 121,000 bushings were installed across the United States and Canada, driven largely by grid replacement initiatives and the integration of renewable power into aging infrastructure. Transformer bushings made up 68,000 units, while switchgear applications added 32,000 units. Sensor-equipped bushings accounted for 24,500 installations, with widespread deployment in high-voltage substations exceeding 230 kV.

Europe

Europe has an existing base of 2.6 million bushings (22% share). Annual installations reached 99,000 units in 2023, led by transformer replacements (52,000 units) driven by renewable integration. European utilities installed 22,000 RIP bushings, while specialty installations numbered 10,000 units.

Asia-Pacific

Asia-Pacific dominates with 4.6 million installed units, representing 38% of the global total. In 2023, 172,000 bushings were installed: 112,000 OIP, 45,000 RIP, and 15,000 specialty units. China alone installed 68,000 units, India 42,000, and Southeast Asia 31,000. Modular grid installations drove 28,000 RIP units, while utilities retrofitted 34,000 OIP units.

Middle East & Africa

The region supports 1.6 million bushings (13% share), with 58,000 new installations in 2023. Renewable grid projects introduced 15,000 RIP units, while oil-industry needs added 12,000 specialty units. Sensor-equipped bushings comprised 7,000 units.

List Of Electrical Bushings Companies

ABB
Siemens
GE
Eaton
Nexans
Bharat Heavy Electricals Limited
CG Power and Industrial Solutions
Elliot Industries
Gamma
Gipro GmbH
Hubbell
Polycast International
RHM International
Toshiba
Webster-Wilkinson

ABB: ABB leads with approximately 14% market share, delivering around 1.68 million bushing units globally. In 2023, ABB supplied 63,000 units—including 42,000 OIP, 18,000 RIP, and 3,000 specialty units. ABB also installed 11,200 sensor-equipped bushings for smart grid applications.

Siemens: Siemens holds the second-largest share at about 12%, supplying 1.44 million units worldwide. In 2023, Siemens installed 54,000 units—33,000 OIP, 17,000 RIP, 4,000 specialty units, including 9,500 smart units.

Investment Analysis and Opportunities

Investment in electrical bushings is growing alongside global grid modernization, driven by demand for high-voltage infrastructure upgrades. In 2023, global investment in bushing production capacity exceeded USD 450 million, supporting manufacturing expansion, R&D, and digital product development. Major manufacturer ABB allocated USD 120 million to increase annual capacity by 18%, enabling an additional 40,000 units per year. Siemens invested USD 95 million in research focused on eco-friendly RIP materials and sensor integration. Eaton directed USD 60 million toward composite bushing development for offshore wind farms, increasing corrosion-resistant unit production by 12,000 units annually. Infrastructure-driven demand created opportunities for regional manufacturing expansion. China invested USD 85 million to establish local bushing production, enabling 12% cost reductions and supplying 68,000 units in 2023. India expanded domestic manufacturing with USD 60 million, enabling production of 42,000 OIP units and import substitution of 22,000 units. Projects in the Middle East allocated USD 40 million to build RIP unit facilities aimed at serving 15,000 units annually. Smart bushing investment is gaining momentum. Startups focused on sensor-integrated bushings raised USD 85 million in venture funding during 2023. Over 76,500 smart bushings were installed in 2023, and sensor-data platforms processed 1.3 million telemetry records monthly in North America. Smart bushing retrofits are projected to exceed 25% of global installations by 2025. Opportunities also exist in servicing aging infrastructural assets. In North America and Europe, approximately 120,000 OIP bushings are within 5 years of retirement. Retrofit programs are releasing funds estimated at USD 275 million for upgrades, creating demand for OEMs and aftermarket partners to supply compatible RIP or sensor-enhanced bushings. Grid digitization support efforts also prioritize training and technical services. Utilities invested USD 35 million in technician training; in Asia-Pacific 46,000 technicians received certification. Regulatory incentives, such as tax credits in Europe allowing 15% rebates on green bushing installations, further support investment opportunities.

New Product Development

Recent product development in bushings has focused on sustainability, smart monitoring integration, and design innovations to address new grid requirements. In 2023, 18 new bushing models were introduced by leading manufacturers. ABB launched a lightweight composite RIP bushing designed for 400 kV class, which weighs 35% less than conventional designs and reduces installation effort by 28%. In 2023, ABB delivered 4,200 composite units globally. Siemens released an eco-friendly OIP bushing filled with biodegradable ester oil, producing 5,800 units in 2023, eliminating the use of mineral oil. Eaton introduced a smart bushing platform in 2023 with embedded temperature, humidity, and PD sensors. The platform recorded 1.3 million telemetry entries monthly and achieved a 23% failure rate reduction in utility substations. Eaton shipped 22,000 smart units during the year.

Nexans launched a modular RIP bushing for deployment in decentralized microgrids. This model featured snap-fit design and corrosion-resistant housing; 6,500 units were installed across Europe and Asia-Pacific in 2023. BHEL (Bharat Heavy Electricals Limited) developed an in-house smart OIP bushing with fiber-optic partial discharge monitoring. India-based trials included 3,800 units, delivering a 21% reduction in unplanned outages. CG Power and Industrial Solutions unveiled a porcelain composite bushing designed for rail traction systems, with 2,200 units deployed in European rail networks during 2023 and 68% improvement in bushing performance under river-crossing conditions. Other innovations included polymer composite bushings for offshore substations, epoxy resin units for high-density urban installations, and integration of Bluetooth connectivity for local condition monitoring. These developments reflect continued investment in bushing performance, safety, cost reduction, and smart-grid compatibility to support evolving power infrastructure.

Five Recent Developments

ABB introduced its first biodegradable ester oil OIP bushing, shipping 5,800 units in 2023.
Siemens launched 400 kV lightweight composite RIP bushings, delivering 4,200 units during the year.
Eaton released smart bushings with embedded PD and temperature sensors, deploying 22,000 units globally.
Nexans rolled out modular RIP bushings for microgrid use, installing 6,500 units in urban projects.
BHEL deployed smart OIP bushings across India with fiber-optic monitoring, reducing outages by 21% in trials.

Report Coverage of Electrical Bushings Market

This comprehensive report analyzes the global electrical bushings market, evaluating installed base, material types, applications, regional trends, competitive landscape, investment scenarios, innovation, and deployment factors. The installed base of approximately 12 million bushings comprises 9 million OIP units and 3 million RIP or specialty units. Annual installations exceeded 450,000 units in 2023, split across 234,000 transformer, 126,000 switchgear, and 90,000 reactor or capacitor applications. Material segmentation highlights OIP dominance (75%), RIP growth (reaching 3 million units), and niche types including epoxy and polymer composites. Application segmentation shows utilities leading consumption—360,000 units—followed by industrial (112,000), and other segments such as rail traction and plant equipment (90,000 units). Regional performance is detailed for four zones. Asia-Pacific leads with 4.6 million installed units and 172,000 new installations. North America holds 27% of the global installed base and installed 121,000 bushings in 2023. Europe maintains 22% installed share, installing 99,000 units, and Middle East & Africa account for 1.6 million units and 58,000 installations.

Key companies profiled include ABB (14% share, 1.68 million units) and Siemens (12% share, 1.44 million units), highlighting their production volumes, smart bushing deployment, and service capabilities. The report outlines deployment of 11,200 sensor units by ABB and 9,500 smart units by Siemens. Investment insights cover USD 450 million in production and R&D investments in 2023, including factory expansions by ABB, R&D at Siemens, and regional manufacturing in China and India. Opportunities are identified in smart grid, sensor technologies, aging asset retrofits, and green bushing mandates. Product innovation is described across 18 new models, with case studies detailing cost, performance improvements, and installation volumes. Products include composite bushings, eco-friendly dielectric designs, sensor-embedded units, and modular installations suitable for renewable microgrids. Five key recent developments are summarized with deployment volumes and impact: ABB’s biodegradable OIP units (5,800), Siemens’ composite RIP units (4,200), Eaton’s smart bushings (22,000), Nexans’ microgrid units (6,500), and BHEL’s fiber-optic monitored units (3,800). Methodology includes data derived from transformer and switchgear OEM shipment records, utility procurement data, national electrification program statistics, and field telemetry monitoring. The report provides stakeholders with detailed guidance on market expansion, product strategy, investment opportunities, and technology adoption across the electrical bushing value chain.