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ABB Group holds a significant share due to a combination of strategic factors. The company offers an extensive range of busbar systems catering to various sectors, including industrial, commercial, and residential, meeting diverse customer needs. Furthermore, strategic partnerships and acquisitions enable the company to strengthen its product offerings, expand its customer base, and tap into new market opportunities.
Some of the key market players operating across the medium power busbar industry are:
The commercial segment will grow at over 4% CAGR from 2024 to 2032, driven by the rise in urbanization and growth of commercial spaces including office buildings, shopping malls, and data centers.
Medium power busbar market was worth USD 7.9 billion in 2023 and will continue to grow at 4.9% CAGR from 2024 to 2032, owing to the surging demand for efficient power distribution solutions across industries.
Asia Pacific medium power busbar market size will exceed USD 5 billion by 2032, attribute to the growing focus on renewable energy and sustainable infrastructure development.
ABB, C&S Electric Company, Chint Group, Eaton Corporation Plc., Friedhelm Loh Group, General Electric, Legrand S.A., Mersen S.A., Rittal GmbH & Co. KG, Rogers Corporation, Schneider Electric SE, Siemens AG, TE Connectivity, and Vertiv Group Corp.