The Business Research Company’s report on the Busbar Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the busbar industry?
The rising concern towards the reduction of energy losses in electric transmission is expected to propel the growth of the busbar market. Energy loss in electric transmission refers to energy wasted during electricity production, transmission, and distribution, including plant and unexplained use. The resistance of the electrical conductors used in a power transmission system is one of the main contributors to energy losses. Busbars can carry large amounts of electricity with little energy waste because of their low resistance. Busbars can be used instead of conventional wire to decrease energy losses, saving money. For instance, in July 2022, according to the Energy Information Administration (EIA), a US-based statistical agency of the Department of Energy, approximately 4,178 billion kilowatt-hours (kWh) of electricity in 2023 will be primarily sourced from fossil fuels (60%), with nuclear energy contributing 19% and renewable sources accounting for 21%. This statistic underscores the ongoing dependence on fossil fuels and the urgent need for improved integration of renewable energy solutions. Therefore, the rising concern towards reducing energy losses in the electric transmission is driving the growth of the busbar market going forward.
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What is the estimated market size of the busbar sector by 2029, based on current forecasts?
The busbar market size has grown strongly in recent years. It will grow from$17.71 billion in 2024 to $18.64 billion in 2025 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to industrialization and infrastructure development, rising energy consumption, increasing renewable energy integration, demand from key end-use industries, government regulations
The busbar market size is expected to see strong growth in the next few years. It will grow to “$23.65 billion in 2029 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to transition to smart grids, continued industrial growth, focus on energy efficiency, rising data center construction, integration of energy storage. Major trends in the forecast period include rising demand for energy efficiency, increased adoption of renewable energy, advanced materials and technologies, compact and modular designs, electrification of transportation.
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#Who are the top 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 major trends in the busbar market?
Major companies operating in the busbar market are developing advanced products such as modular busbar systems to gain a competitive edge in the market. Modular busbar systems refer to an electrical distribution system composed of individual, standardized modules or segments that can be easily connected and assembled to create a customized and flexible power distribution network. For instance, in September 2022, Vertiv, a US-based digital infrastructure solutions company, launched the Vertiv Powerbar iMPB, designed to support the critical digital infrastructure of data centers and dynamic environments. The modular busbar system offers scalability with capacities ranging from 160 amps to 1,000 amps, enabling seamless power upgrades in data centers, laboratories, distribution warehouses, and other adaptable settings. The system allows for uninterrupted additions and upgrades without requiring extra floor space, addressing the evolving power needs of modern data centers with a compact and flexible solution.
Which geography holds the highest busbar market share?
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
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How do different segments contribute to the overall expansion of the 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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How is the busbar market defined?
A busbar is a metallic strip or bar used in a power distribution system to conduct and transmit electrical electricity. It is usually constructed of copper or aluminum and is built to carry a lot of electricity.
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