Medium Power Busbar Market - By Material (Copper, Aluminum), By Application (Residential, Commercial, Industrial), Growth Forecast 2024 – 2032

Medium Power Busbar Market Analysis

Medium Power Busbar Market size is witnessing a significant growth of USD 7.9 Billion in 2023 and will continue to grow with CA GR of 4.9% from 2024 to 2032. Surging demand for efficient power distribution solutions across industries along with growing emphasis on energy efficiency and sustainability is spurring the product adoption especially in economies with infrastructure development and urbanization.
 

In addition, government investments and initiatives targeting electric grid modernization are expected to drive sustained growth in the market. For instance, in August 2023, U.S. DOE funded USD 300 million to expedite electric transmission siting and permitting, supporting Biden-Harris administration's clean energy goals.
 

Rising demand for energy-efficient and space-saving power distribution solutions in various end-use sectors is further fuelling the market growth. Furthermore, increasing focus on renewable energy sources and modernization of electrical infrastructure across globe are expected to create new growth opportunities for the Medium Power Busbar Market in coming years.
 

Medium Power Busbar Market Trends

The market is influenced by the significant trends which are shaping the business landscape including rising adoption of compact and lightweight busbar solutions are driving the necessity for space-efficient electrical installations. Additionally, integration of smart monitoring and control capabilities is enabling real-time performance monitoring and predictive maintenance to enhance operational efficiency and uptime. Shift from traditional connections to busbars by market players is also fuelling the demand pattern. For instance, in April 2021, seven European transmission system operators have formed the Eurobar initiative to standardize offshore transmission systems using a 'busbar' concept which aims to efficiently integrate offshore wind power across Europe's power grid.
 

Medium Power Busbar Market Analysis

Based on material, the market is divided into copper and aluminium, dominated by copper sector, expected to surpass USD 6.5 billion by 2032. The material preference is attributed to its high electrical conductivity, which maximizes efficiency in busbar systems and excellent thermal conductivity, which enables effective heat dissipation and minimizes overheating risks. Additionally, copper's ductility, malleability, and resistance to corrosion make it an ideal material for busbar applications. Coupled with its wide availability and cost-effectiveness, these properties solidify copper's significant market share, ensuring its continued use in the development of reliable and efficient electrical distribution systems.
 

Application segment is divided between residential, commercial and industrial, is influenced by commercial sector, expected to grow over a CAGR of over 4% from 2024 to 2032. Rise in urbanization and growth of commercial spaces including office buildings, shopping malls, and data centers are driving the product demand. Furthermore, increasing focus on energy efficiency and sustainability within the sector will facilitate the product adoption across commercial application. These busbars facilitate efficient transmission of electricity, minimizing energy losses and contributing to overall energy savings.
 

Asia Pacific holds a significant market and will exceed USD 5 billion by 2032. Growing focus on renewable energy and sustainable infrastructure development in the region is fuelling the product demand. Presence of key market players and expansion of manufacturing facilities have boosted the production and availability of the product. For instance, in February 2020, Siemens Smart Infrastructure introduced LData, a system tailored for data centres that require improved efficiency, availability, and adaptability in response to growing data processing demands from internet traffic, mobile users, and IoT connections.
 

U.S. medium power busbar market is witnessing a major growth, driven by factors including increasing urbanization, growing demand for energy-efficient power distribution along with increasing investment in electrical infrastructure. Major industry players are investing in research and development to create innovative solutions that address these needs, offering advanced technologies and customized products to maintain a competitive edge.
 

Medium Power Busbar Market Share

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.
 

Medium Power Busbar Market Companies

Some of the key market players operating across the medium power busbar industry are:

• 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
• Vertiv Group Corp.
   

Medium Power Busbar Industry News

• In February 2024, Rogers Corporation, announced to establish a new facility in Monterrey, Mexico, focused on advanced busbar manufacturing for EV/HEV, renewable energy, and industrial applications. The first phase of the facility is expected to be completed by late 2024, supporting the company's strategy of catering to customers in their respective regions and meeting the growing demand for innovative power distribution solutions.
   
• In January 2023, Mersen partnered with ACC to provide smart laminated busbars for its next-gen batteries, meeting the growing demand for sustainable and efficient batteries in the European EV market. The seven-year collaboration is expected to generate USD 215 million in sales for Mersen.
   

Medium power busbar market research report includes an in–depth coverage of the industry with estimates & forecast in terms of volume (Kilo Tons) and revenue in (USD Billion) from 2021 to 2032, for the following segments:

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Market, By Material, 2021 to 2032, (kilo Tons, USD Billion)

• Copper
• Aluminium

Market, By Application, 2021 to 2032, (Kilo Tons, USD Billion)

• Residential
• Commercial
• Industrial

The above information has been provided for the following region & countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Netherlands
  • Sweden
• Asia Pacific
  • India
  • China
  • Japan
  • South Korea
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
• Latin America
  • Brazil
  • Argentina