Home > Energy & Power > Wire and Cable > Power Cable > Medium Power Busbar Market

Medium Power Busbar Market Size

Report ID: GMI9504
Published Date: May 2024
Report Format: PDF

Download Free Sample

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.

To get key market trends

Download Free Sample

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 Report Attributes
Report Attribute	Details
Base Year:	2023
Medium Power Busbar Market Size in 2023:	USD 7.9 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	4.9%
2032 Value Projection:	USD 12.3 Billion
Historical Data for:	2021 to 2023
No. of Pages:	95
Tables, Charts & Figures:	33
Segments covered:	Material, Application, & Region
Growth Drivers:	Increasing demand for reliable power distribution systems Growing measures to reduce energy loss. Rising demand for electricity due to population growth and urbanization
Pitfalls & Challenges:	Competition from alternative power distribution systems

Learn more about the key segments shaping this market

Download Free Sample

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

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.

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.

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.