The market has seen significant advancements, leveraging innovations in materials, design, and technology. These advancements have led to enhanced efficiency, reliability, and safety in power distribution systems. The benefits are manifold, including increased power handling capacities, reduced energy losses, and optimized space utilization. Moreover, modern busbar solutions offer easier installation and maintenance, resulting in lower operational costs. With the integration of smart monitoring and control features, busbar systems enable better management of electrical networks, enhancing overall productivity and ensuring seamless operations across various industries.
Data Bridge Market Research analyses that the Global Busbar Market size is projected to reach USD 15.20 billion in 2022 and is expected to reach USD 23.96 billion by 2030, registering a CAGR of 5.9% during the forecast period of 2023-2030.
Below are the Top Five Busbar Companies with a Significant Market Share:
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Rank
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Company
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Overview
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Product Portfolio
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Sales Geographical Coverage
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Developments
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1.
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ABB
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ABB is a global leader in electrification products, industrial automation, and robotics. Within the busbar market, ABB offers a comprehensive range of solutions catering to various applications, including distribution boards, switchgear, and power distribution systems. Their offerings emphasize efficiency, safety, and reliability, incorporating innovative technologies such as advanced monitoring and control systems. ABB's extensive expertise enables them to provide tailored solutions for diverse industries, ranging from manufacturing to infrastructure. Their commitment to sustainability drives the development of energy-efficient solutions, contributing to the reduction of environmental impact across the busbar market.
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Latin America, North America, Middle East and Africa, Europe, Asia-Pacific
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In October 2020, ABB expanded its UniGear ZS2 switchgear to the UniGear Digital with the entire single busbar portfolio of the UniGear medium-voltage (MV) switchgear with the digital version. The company enhanced its wide business portfolio by offering more switchgear panels with busbars. The company improved its wide business portfolio, generating more income and profit.
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2.
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GENERAL ELECTRIC
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General Electric (GE) is a renowned multinational conglomerate known for its diverse portfolio encompassing power generation, healthcare, aviation, and renewable energy. In the busbar market, GE delivers cutting-edge solutions designed to optimize power distribution systems for enhanced performance and reliability. Their offerings include a range of busbar products and solutions suitable for various industrial and commercial applications. Leveraging advanced technologies such as digitalization and predictive analytics, GE enables customers to maximize operational efficiency and minimize downtime. With a focus on innovation and sustainability, GE continues to drive advancements in the busbar market, supporting the evolving needs of global industries.
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America, Middle East and Africa, Europe, Asia-Pacific
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In October 2016, General Electric launched the ElfaPlusminiature circuit breaker (MCB), which comprises extensive accessories that include busbars and others. The company enhanced its wide business portfolio, generating more profit and income.
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3.
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Schneider Electric
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Schneider Electric stands as a leading provider of energy management and automation solutions worldwide. In the busbar market, Schneider Electric offers a comprehensive suite of products and solutions designed to streamline power distribution systems for increased efficiency and reliability. Their portfolio encompasses a diverse range of busbar solutions tailored to meet the specific requirements of different industries and applications. Schneider Electric prioritizes innovation and sustainability, integrating smart technologies and energy-efficient practices into their busbar offerings. Through strategic partnerships and continuous research and development efforts, Schneider Electric remains at the forefront of driving advancements in the busbar market, empowering customers to achieve their sustainability and operational goals.
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Middle East and Africa, Europe, North America, South America, and Asia-Pacific
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In August 2020, Schneider Electric completed its transaction for low voltage and industrial automation in the Low Voltage and Industrial Automation business with Larsen & Toubro’s Electrical & Automation business. The company offers a wide business portfolio that generates more income and profit.
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4.
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Legrand
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Legrand is a global specialist in electrical and digital building infrastructures, offering a comprehensive range of products and solutions for residential, commercial, and industrial applications. Within the busbar market, Legrand provides innovative and reliable solutions designed to optimize power distribution systems. Their portfolio includes a variety of busbar products tailored to meet the diverse needs of customers across different sectors. Legrand prioritizes safety, efficiency, and sustainability in their busbar offerings, incorporating advanced technologies and eco-friendly practices. With a focus on customer-centric innovation, Legrand continues to enhance its busbar solutions, enabling customers to achieve greater energy efficiency and operational excellence.
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America, Europe, Africa, and Asia-Pacific
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In February 2017, Legrand SA launched a new range of cast resin busbar trunking that guarantees high electrical and mechanical protection against the commercial and industrial busbar portfolio. The launch of the product enhanced the customer with its wide product portfolio, delivering more income.
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5.
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Siemens
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Siemens is a renowned multinational conglomerate operating in various sectors, including energy, healthcare, and infrastructure. In the busbar market, Siemens offers a wide range of innovative solutions designed to optimize power distribution systems for enhanced performance and reliability. Their comprehensive portfolio includes busbar products and solutions suitable for diverse industrial and commercial applications. Siemens prioritizes digitalization and automation, integrating advanced technologies such as IoT and AI to deliver smart and efficient busbar solutions. Through continuous innovation and collaboration, Siemens remains at the forefront of driving progress in the busbar market, empowering customers to achieve their sustainability and operational objectives.
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Africa, Europe, Asia-Pacific, North America, South America, Australia
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In February 2021, Siemens deployed a bus depot with charging and power distribution technology with the busbar trunking that enhances the charging stations supply in the eBuses. The company enhanced its wide business portfolio, generating more income and profit.
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Conclusion
In conclusion, the market is poised for significant growth driven by rising demand for efficient power distribution solutions. With increasing urbanization and industrialization, the opportunities for busbar market expansion are abundant. As businesses prioritize energy efficiency and sustainability, the demand for innovative busbar technologies will continue to soar. Capitalizing on these drivers, stakeholders can anticipate a promising future characterized by enhanced power transmission and distribution capabilities.
