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Medium Power Busbar Market Trends

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

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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.

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.