(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 22, 2024 (GLOBE NEWSWIRE) -- The "Busbar market by Material (Copper, Aluminum), Power Rating, Insulation (Laminated, Powder-coated, Bare), manufacturing Process (Molded, Stamped, Hybrid, Flexible), End-use and Region - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global busbar market is expected to grow significantly from an estimated USD 15.10 billion in 2024 to USD 19.70 billion by 2029, at a CAGR of 5.5% during the forecast period. The rising demand for efficient power distribution systems is driving the busbar market, as industries and urban infrastructure expansion require reliable energy solutions. Busbars, often made of copper or aluminum, are critical components in minimizing energy loss and ensuring effective power management. Governments and industries are increasingly focusing on modernizing power grids and integrating renewable energy sources, and busbars are essential in achieving these goals. The increasing need for sustainability, energy efficiency, and the transition to green energy solutions are expected to fuel the demand for busbars across utilities, industrial, and residential sectors globally.
Commercial & residential, by end use, is expected to be the largest-growing segment from 2024 to 2029
The commercial & residential segment is projected to be the fastest-growing end-use sector in the busbar market from 2024 to 2029. This growth is driven by increasing urbanization, infrastructure development, and the growing demand for energy-efficient power distribution systems in buildings. Busbars play a crucial role in reducing energy losses and optimizing electrical distribution in residential complexes, commercial buildings, and smart city infrastructure. With governments and developers focusing on sustainable energy solutions and smart grids, the commercial & residential sector is expected to witness robust demand for busbar systems, particularly in densely populated and rapidly developing regions like Asia-Pacific.
Laminated, by insulation type, is expected to be the fastest-growing market from 2024 to 2029
The laminated busbar segment, by insulation type, is projected to be the fastest-growing market from 2024 to 2029 due to its superior electrical performance and enhanced safety features. Laminated busbars offer reduced inductance, lower voltage drop, and improved heat dissipation, making them highly efficient for modern power distribution systems. The rise in demand for energy-efficient and compact solutions in industries such as power electronics, renewable energy, data centers, and electric vehicles is driving this growth. Additionally, the growing emphasis on reducing energy losses and improving system reliability, especially in high-demand sectors, makes laminated busbars a preferred choice for manufacturers and consumers alike.
Report Scope
Analysis of key drivers (Rising demand for energy-efficient power distribution systems, Increasing construction of commercial and industrial buildings), restraints (Volatility in raw material prices, High initial installation costs), opportunities (Burgeoning demand for electric vehicles, Rapid expansion of data centers and cloud infrastructure, Rising investment in smart grid technologies), and challenges (Adapting to changing customer preferences) influencing the growth. Product Development/ Innovation : The busbar market is experiencing significant innovation and product development, largely driven by the growing demand for energy-efficient power distribution solutions. Companies in this sector are investing in new technologies to enhance the performance of busbars, focusing on improving conductivity, reducing power losses, and increasing reliability. Notable advancements include the development of laminated busbars, which offer improved insulation and heat dissipation, making them ideal for high-power applications. Key players such as ABB, Schneider Electric, and Siemens are actively engaging in product innovations and integrating smart grid technologies to meet the evolving energy needs of industries and infrastructure. Market Development : The growth in the busbar market is currently high because of an upsurge in the demand for efficient power supply systems across industries, commercial buildings, and residential locations. The development factors involve rapid infrastructural growth for industrial uses, urbanization, and coupled uses of sources of renewable energy. Also, the trends of technological advancements, such as laminated busbars with effective insulation and efficiency, add on to the market benefits. Government initiatives that are into energy efficiency and establishing smart grids are also propelling the global expansion of the busbar market. Major players are focusing on innovations and broadening their footprints to meet growing demand across geographies. Market Diversification : Market diversification across various industries in the busbar market is as such widespread as: its applications, that include power utilities, industrial manufacturing, renewable energy, transportation, and residential & commercial sectors. The companies have been trying to diversify their product portfolios on account of increasing demand for efficient power distribution systems in emerging technologies such as electric vehicles (EVs), renewable energy projects, and smart grids. In addition, regional diversification, especially in Asia-Pacific, is helping manufacturers tap into growing markets focused on rapidly urbanizing and industrializing with improvements in infrastructure. Diversification into these regions increases growth opportunities both for developed and emerging markets. Competitive Assessment : In-depth analysis of market share, growth plans, and service offerings of top companies in the stations market, including ABB, Schneider Electric, Eaton, Siemens and Legrand among others.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 269 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $15.1 Billion |
| Forecasted Market Value (USD) by 2029 | $19.7 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for Players in Busbar Market
4.2 Busbar Market in Asia-Pacific, by Material and Country
4.3 Busbar Market, by Material
4.4 Busbar Market, by Insulation Type
4.5 Busbar Market, by Manufacturing Process
4.6 Busbar Market, by Power Rating
4.7 Busbar Market, by End Use
4.8 Busbar Market, by Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
Rising Demand for Energy-Efficient Power Distribution Systems Increasing Construction of Commercial and Industrial Buildings
5.2.2 Restraints
Volatility in Raw Material Prices High Initial Installation Costs
5.2.3 Opportunities
Burgeoning Demand for Electric Vehicles Rapid Expansion of Data Centers and Cloud Infrastructure Rising Investment in Smart Grid Technologies
5.2.4 Challenges
Adapting to Changing Customer Preferences
5.3 Trends/Disruptions Impacting Customer Business
5.4 Ecosystem Analysis
5.5 Value Chain Analysis
5.6 Technology Analysis
5.7 Pricing Analysis
5.8 Key Conferences and Events, 2024-2025
5.9 Tariff and Regulatory Landscape
5.10 Trade Analysis
5.11 Patent Analysis
5.12 Investment and Funding Scenario
5.13 Porter's Five Forces Analysis
5.14 Key Stakeholders and Buying Criteria
5.15 Case Study Analysis
Barcelona Integrates Modular Busbars into Smart Street Lighting System to Reduce Energy Consumption Schneider Electric Implements Advanced Busbars to Manage Variable Loads ABB Installs Busbar System to Handle Power Generation Efficiently
5.16 Impact of Gen AI/AI in Busbar Market
5.17 Macroeconomic Outlook for Busbar Market
6 Busbar Market, by Insulation Type
6.1 Introduction
6.2 Laminated
6.3 Powder-Coated
6.4 Bare
7 Busbar Market, by Manufacturing Process
7.1 Introduction
7.2 Molded
7.3 Stamped
7.4 Hybrid
7.5 Flexible
8 Busbar Market, by Material
8.1 Introduction
8.2 Copper
8.3 Aluminum
9 Busbar Market, by Power Rating
9.1 Introduction
9.2 Low (Below 250 A)
9.3 Medium (250-800 A)
9.4 High (Above 800 A)
10 Busbar Market, by End Use
10.1 Introduction
10.2 Utilities
10.3 Industrial
10.4 Locomotive
10.5 Renewables
10.6 Automotive
10.7 Commercial & Residential
11 Busbar Market, by Region
12 Competitive Landscape
12.1 Overview
12.2 Key Player Strategies/Right to Win, 2022-2024
12.3 Market Share Analysis, 2023
12.4 Revenue Analysis, 2019-2023
12.5 Company Valuation and Financial Metrics
12.6 Brand/Product Comparison
12.7 Company Evaluation Matrix: Key Players, 2023
12.8 Company Evaluation Matrix: Startups/SMEs, 2023
12.9 Competitive Scenario
13 Company Profiles
13.1 Key Players
ABB Schneider Electric Eaton Siemens Mersen Legrand Rittal TE Connectivity Incresol Engineering Solutions Chatsworth Products EAE Group Bhagyanagar India MSS India Salzer Electronics SCM Private Jans Copper Private Limited Param Controls Dhanlaxmi Steel Distributors Raychem RPG Chint Europe (UK) Ltd.
13.2 Other Players
Padmawati Extrusion Private Sidhartha Metals G and N Fortune RR Global ACMI Industries
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