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Busbar Market Trends

Report ID: GMI2399
Published Date: May 2023
Report Format: PDF

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Busbar Market Trends

Growing demand for electricity along with the increasing global population & industrialization, the demand for electricity continues to rise. Busbars are essential components in power distribution systems to ensure efficient transmission of electricity, thereby boosting the product deployment. In addition, the expansion of data centers due to the increasing demand for cloud computing and digital services has created a significant demand for busbars. They are used to manage power distribution within data centers efficiently.

Various industries, including manufacturing, automotive, and telecommunications, require robust power distribution systems. Busbars are preferred due to their high current-carrying capacity, compact design, and flexibility. In addition, continuous advancements in busbar design and manufacturing technologies have improved their efficiency and reliability. This has further fueled the demand for busbars in different sectors. Moreover, energy efficiency has become a crucial aspect of modern electrical systems. Busbars offer advantages such as reduced power losses, lower impedance, and improved thermal performance, contributing to overall energy efficiency.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

Global market for busbar was worth more than USD 20.2 billion in 2023 and will grow at a CAGR of over 5% through 2032, driven by the rapid urbanization and infrastructural development projects, particularly in emerging economies.

Commercial application was over 43% in 2022 due to the increasing electricity demand on account of rapid commercialization and urbanization.

The U.S. busbar market will witness robust growth by 2032 on account of favorable measures to replace conventional power supply systems with energy-efficient technologies to lower transmission losses.

Littlefuse, Halcor Metal Works S.A., Methode Electronics, MERSEN, Rittal GmbH & Co. KG, Schneider Electric, Southwire Company, LLC., Oriental Copper Co., Ltd., Godrej, Busbar Systems Belgium BVBA, Siemens Energy, Legrand, ABB, Bhagyanagar India, Eaton, and C&S electric.