What Transformation Has the Busbar Market Undergone?
The busbar market has seen considerable growth due to a variety of factors.
•Over the past few years, the size of the busbar market has seen substantial growth. This trend is predicted to continue with an increase from $17.71 billion in 2024 to $18.64 billion in 2025, representing a compound annual growth rate (CAGR) of 5.2%.
The historical growth is as a result of factors such as industrialization and development of infrastructure, a surge in energy usage, growth in renewable energy integration, demand from crucial end-use industries and the influence of government regulations.
How Will The Busbar Market Size Evolve In The Foreseeable Future?
The busbar market is expected to maintain its strong growth trajectory in upcoming years.
• The busbar market is projected to witness substantial growth in the near future, expanding to $23.65 billion by 2029 with a compound annual growth rate (CAGR) of 6.1%.
The anticipated expansion during the projected period can be ascribed to the shift towards smart grids, sustained industrial expansion, emphasis on energy efficiency, burgeoning data center construction, and integration of energy storage. Significant trends forecasted for this period entail escalating demand for energy efficiency, amplified integration of renewable energy, advanced materials and technologies, compact and modular designs, and the electrification of transportation.
Which Drivers Are Accelerating Growth In The Busbar Market?
The busbar market is anticipated to experience growth due to increased focus on minimizing energy loss in electrical transmission. Energy loss in this context relates to the energy squandered when producing, transmitting, and distributing electricity, including plant use and inexplicable usage. Energy losses are primarily caused by the resistance of the electrical conductors employed in a power transmission system. Busbars can transport large currents of electricity with minimal energy wastage owing to their low resistance, and employing them instead of traditional wire could lead to significant energy savings. In July 2022, the Energy Information Administration (EIA), an American statistical agency of the Department of Energy, projected that in 2023, around 4,178 billion kilowatt-hours (kWh) of electricity will be derived primarily from fossil fuels (60%), with 19% from nuclear energy and 21% from renewable sources. This projection underlines the continued reliance on fossil fuels and the urgent requirement for efficient incorporation of renewable energy solutions. Therefore, the escalating concern for reducing energy loss in electrical transmission is stimulating the growth of the busbar market.
What Are The Core Segments Of The Global Busbar Market?
The busbar market covered in this report is segmented –
1) By Material: Aluminum, Copper, Brass
2) By Power Rating: Low, Medium, High
3) By End-User: Utilities, Industrial, Residential, Commercial
Subsegments:
1) By Aluminum: Extruded Aluminum Busbars, Rolled Aluminum Busbars, Welded Aluminum Busbars
2) By Copper: Electrolytic Copper Busbars, Tinned Copper Busbars, Enameled Copper Busbars
3) By Brass: Extruded Brass Busbars, Cast Brass Busbars, Tinned Brass Busbars
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Which Emerging Trends Are Reshaping The Busbar Market Size?
Key industry players in the busbar market are introducing innovative products such as modular busbar systems in order to maintain their competitive standing within the market. Modular busbar systems are electrical distribution platforms that comprise individual, standardized units or sections that can be effortlessly linked and configured to create a tailor-made and adaptable electricity distribution network. To illustrate, Vertiv, a leading digital infrastructure solutions provider based in the U.S., rolled out the Vertiv Powerbar iMPB in September 2022. This device was engineered to support the vital digital infrastructure of data centers and quickly changing environments. The scalable modular busbar system has capacities that span from 160 amps to 1,000 amps, facilitating smooth power enhancement in settings such as data centers, labs, distribution warehouses, and other flexible environments. The system allows for continuous additions and improvements without the need for additional floor space, presenting a compact and adjustable solution to the ever-changing power requirements of contemporary data centers.
Who Are the Key Players in the Busbar Market?
Major companies operating in the busbar market include:
• Siemens AG
• ABB Ltd.
• Schneider Electric SE
• Eaton Corporation plc
• TE Connectivity Ltd.
• Legrand S.A.
• Mersen S.A.
• CHINT Group Co. Ltd.
• C&S Electric Limited
• Rogers Corporation
• Friedhelm Loh Group
• Cubic Module System A/S
• Hager Vertriebsgesellschaft mbH & Co. KG
• Starline Holdings LLC
• Sedotec GmbH & Co. KG
• Methode Electronics Ltd.
• General Electric Company
• Rittal GMBH & Co. KG
• Power Products LLC
• Promet AG
• Godrej & Boyce Manufacturing Company Limited
• Bhagyanagar India Limited
• Oriental Copper Co. Ltd.
• Littelfuse Inc.
• Southwire Company LLC
• Pentair plc
• Sarkuysan Elektrolitik Bakir Sanayi ve Ticaret A.S.
• Keiper Electric GmbH
• Mitsubishi Electric India Private Limited
• nVent Electric plc
• Alcan Cable
• ERICO International Corporation
What are the Regional Insights into the Busbar Market?
North America was the largest region in the busbar market in 2024 and is expected to be the fastest-growing region in the global busbar market report forecast period. The regions covered in the busbar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
