인도의 전기 부싱 시장은 2025-2032년의 예측 기간 동안 4.80%의 연평균 복합 성장률(CAGR)을 나타내고, 2024년 1억 6,280만 달러에서 2032년 2억 3,691만 달러로 성장할 것으로 예측됩니다. 인도의 전기 부싱 시장은 급격한 도시화와 산업화로 전력 소비가 급증하면서 최근 몇 년동안 괄목할 만한 성장세를 보이고 있습니다. 이러한 추세는 앞으로도 지속될 것으로 예상되며, 강력한 확장 속도를 유지할 것으로 예상됩니다. 인프라의 대폭적인 발전은 발전 및 배전 시스템의 규모 확대를 통해 수요를 창출하고 있습니다. 재생 가능 에너지원의 부상, 유리한 정책, 이 분야의 자동화 발전은 전반적으로 인도의 전기 부싱 시장의 성장 촉진 추세에 기여하고 있습니다.
인도에서는 재생 가능 에너지원을 전력망에 통합하는 데 주력하고 있으며, 송전 중 변동 부하를 견딜 수 있는 고도의 부싱이 필요합니다. 또한, 전력망 인프라 현대화에 대한 투자가 급증하고 스마트 그리드 기술 채택에 대한 압력이 증가함에 따라 전기 부싱 시장의 성장이 가속화될 것으로 예상됩니다.
예를 들어, 2024년 10월 인도 전력부는 2032년까지 인도의 재생 가능 송전 인프라와 에너지 그리드 용량을 확대하겠다는 목표를 발표했습니다. 정부는 최대 500GW의 재생 가능 전력 용량을 구축하기 위해 약 1,090억 달러를 투자할 계획입니다. 이러한 발전은 송전 및 배전 장비에 대한 수요 증가를 강조하며, 전기 부싱 시장 수요를 증가시키고 있습니다.
또한, 인도 정부의 농촌 전기화 정책은 전기 부싱에 의존하는 변압기 및 변전소 설치를 촉진하여 향후 시장 성장에 기여하고 있습니다. 또한, 전기자동차(EV) 인프라에 대한 투자는 전기 부싱 시장에 엄청난 비즈니스 기회를 제공합니다.
예를 들어, India Energy Storage Alliance(IESA)에 따르면, 인도에서는 EV 충전 인프라 분야가 25-30%의 속도로 성장하고 있습니다. 인도는 이러한 성장을 두 배로 늘리려고 하고 있으며, 이를 위해 향후 몇 년동안 200억-300억 달러의 투자가 필요합니다. 투자 증가는 시장에서 전기 부싱과 같은 다양한 전기 부품에 대한 수요를 촉진할 것입니다.
모든 부문은 대상 지역 모두에게 제공됩니다.
위에 언급된 회사는 시장 점유율에 따른 순위를 보유하지 않으며, 조사 작업 중 이용 가능한 정보에 따라 변경될 수 있습니다.
India electrical bushings market is projected to witness a CAGR of 4.80% during the forecast period FY2025- FY2032F, growing from USD 162.80 million in FY2024 to USD 236.91 million in FY2032. The Indian electrical bushings market has experienced significant growth in recent years due to rapid urbanization and industrialization, which have led to a surge in electricity consumption. This trend is expected to continue, maintaining a strong pace of expansion. Significant developments in infrastructure have created demand through an increase in the size of power generation and distribution systems. The rise of renewable energy sources, favorable policies, and increasing automation in the sector collectively foster a growth-promoting trend for the Indian electrical bushing market.
India is focusing on the integration of renewable energy sources into grids, which requires sophisticated bushings capable of enduring variable loads while transmitting power. Furthermore, surging investments in grid infrastructure modernization and the growing pressure for the adoption of smart grid technologies are expected to augment the growth of the electrical bushings market.
For instance, in October 2024, the power ministry announced the goal to expand India's renewable transmission infrastructure and energy grid capacity by 2032. The government seeks to invest around USD 109 billion to build the capacity for up to 500 GWs of renewable power. This development highlights the rise in demand for transmission and distribution devices, boosting the demand for the electrical bushings market.
Additionally, rural electrification initiatives undertaken by the government of India boost the installation of transformers and substations that rely on electrical bushings, thus contributing to market growth in coming years. Furthermore, investments in electric vehicle (EV) infrastructure are creating enormous electrical bushings market opportunities.
For instance, according to the India Energy Storage Alliance (IESA), the EV charging infrastructure segment is growing at a rate of 25-30% in India. The country seeks to double this growth, for which USD 20 to 30 billion investment is required in coming years. The rise in investment will drive the demand for different electrical components, such as electrical bushings, in the market.
Growing Rural Electrification Initiatives Augment India Electrical Bushings Market Growth
The growing need for electricity in rural areas has led to a rise in the deployment of transformer capacity across India. The Indian Government is focusing on a stable electricity supply by investing in expansion and modernization, which fuels the demand for electrical bushing for transformers in the market. Electrical bushings are gradually becoming integral to transformers as insulated devices promising reliable functioning at high voltage. Significant government funding and policy support for rural electrification have accelerated infrastructure development, leading to a rise in demand for high-quality electrical components such as electrical bushings in the market.
The government has taken initiatives for the electrification of the rural areas in the country by launching schemes such as the Integrated Power Development Scheme (IPDS), National Electricity Fund (NEF), Revamped Distribution Sector Scheme, and Green Energy Corridors program aimed at improving electrification and modernized transmission infrastructure thereby driving the demand for electrical bushings in the market. Rajiv Gandhi Grameen Vidyutikaran Yojna (RGGVY) and India's Saubhagya Scheme have made substantial improvements in the rural electricity infrastructure, which would directly add to a greater need for transformers and hence drive the demand for electrical bushings in the coming years.
The Government of India launched the Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGYA) in October 2017 to achieve universal household electrification. As of March 31, 2022, approximately 28.6 million households have been electrified under this initiative. The scheme has now concluded, with all sanctioned works completed. This development highlights the rise in investment in the electrification of rural areas, which will drive the demand for electrical bushings in the future.
For instance, in July 2023, Rural Electrification Corporation (REC) signed a memorandum of understanding (MOU) with Avaada Group to fund its energy transition projects worth approximately USD 2.3 billion. The Avaada Group will help in developing the renewable energy sector for electrifying the rural part of the country. This development highlights, that the rising investment in rural electrification will raise the demand for electrical bushings in the market.
Rising Investment in the Electric Vehicle Infrastructure Sector Creating Market Opportunities
The rise of electric vehicles (EVs) in India is prompting the development of charging infrastructure. The charging infrastructure relies on robust electrical systems, including the deployment of efficient transformer bushings for safe power distribution. Electrical bushings are becoming crucial components in power management systems to control current flow in and out of grids. EV charging stations often operate at higher voltages to facilitate faster charging in the vehicles. The development of EV charging infrastructure necessitates using advanced electrical bushings to manage high-voltage applications thus driving the demand for electrical bushings in the market. Electrical bushings ensure optimal performance and longevity of the EV infrastructure, creating ample opportunities for the electrical bushings market.
In addition, the expansion of EV infrastructure is closely tied to the development of smart grids. The smart grids provide the real-time monitoring and optimization of power distribution in charging grids. The device monitors the electrical parameters in charging stations by ensuring efficient power delivery and checks for safety measures during the charging process in EVs. Electrical bushings play a critical role in supporting the deployment of advanced grids, which enhances the demand for electrical bushings in modernizing the EV infrastructure.
For instance, the Indian government has set a target of achieving 30% electric vehicle adoption by 2030 and has announced various policies and incentive schemes to achieve the set target. This development highlights that the government is boosting the adoption of electric vehicles (EVs), which will drive investment in charging infrastructure and, consequently, increase the demand for electrical bushing devices power transmission from the grid to the charging station.
Resin-Impregnated Paper (RIP) Bushings to Dominate the Market Share
Resin-impregnated paper (RIP) bushings are experiencing a high adoption rate in the country due to the rising demand for power supply, coupled with technological advancements driving their demand. Ongoing investments in high-voltage infrastructure, including transformers and reactors, are further boosting the demand for RIP bushings in the market. RIP technology offers enhanced reliability and safety in electrical systems by reducing risks associated with oil leaks and environmental hazards, which significantly contributes to its growing popularity. Additionally, advancements in manufacturing techniques for RIP bushings have improved their performance, making them suitable for demanding applications. Innovations in materials and design are also playing a key role in strengthening their market presence within the industry.
Furthermore, the shift towards innovative grid technologies accelerates the demand for RIP bushings in the market. The products can support advanced monitoring and control systems, enhancing grid efficiency and reliability, driving its demand in the market.
West and Central Regions Dominate the India Market
West and Central regions have dominated the electrical bushings market and is expected to continue during the forecast period. The demand for electrical bushings is rising due to numerous factors such as industrialization, infrastructure development, and government initiatives. Western India has witnessed significant investments in renewable energy projects and the modernization of power infrastructure, creating substantial market opportunities. The rapid expansion of manufacturing and heavy industries in the region necessitates reliable power supply systems, driving the demand for electrical bushings. Numerous manufacturing units, IT parks, and industrial corridors further contribute to this demand by requiring efficient power distribution solutions. Additionally, state governments are focusing on rapid urbanization and renewable energy integration into the grids, which enhances the need for electrical bushings in the market.
For instance, in December 2024, the Maharashtra Electricity Regulatory Commission (MERC) and Global Energy Alliance for People and Planet (GEAPP) signed a Statement of Intent (SoI) to advance Maharashtra's energy transition through regulatory and policy innovations. This development highlights the local government's focus on integrating renewable energy and promoting inclusive growth, enabling the demand for electrical bushings.
Future Market Scenario (FY2025 - FY2032F)
The rise of electric vehicles (EVs) in India necessitates the development of charging infrastructure which will drive the demand for the electrical bushings market.
The country is making significant investments in renewable energy sources. Further, the Integration of renewable energy sources in the grids creates the opportunity for electrical bushings market growth in coming years.
Government policies promoting infrastructure development and electrification are set to boost the demand for electrical bushings in the country.
Electrical bushings align with government goals regarding energy efficiency and sustainability energy policies, which will drive the market in the forecast period.
Key Players Landscape and Outlook
Continuous innovation characterizes the landscape of electrical bushings, as the companies compete in terms of energy efficiency, product life, and unique features. The market outlook remains positive, owing to increased demand for integrating renewable energy and automation in the industrial sector. Product launches, agreements, business expansions, collaborations, and developing technologies are projected to increase competition in the fast-paced market.
For instance, in January 2025, Yash Highvoltage conducted a 'Bhoomi Poojan' ceremony for its new manufacturing facility in Suncity Industrial Park, Vadodara. This 13,055 sq. m facility will focus on producing advanced components such as Resin-Impregnated Paper (RIP) and Resin-Impregnated Synthetic (RIS) transformer bushings, enhancing the company's commitment to innovation and quality in the power industry. The expansion aims to strengthen Yash Highvoltage's competitive position by meeting the growing demand for high-performance electrical components.
All segments will be provided for all regions covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.