Global Busbar Market – Industry Trends and Forecast to 2030

Global Busbar Market, By Conductor (Aluminium, Copper), Weight Wise (Less Than 1 Kg, More Than 1 Kg), Shape Wise (Chamfer, Rectangle), Insulation (Epoxy Power Coating, Teonix, Tedler, Mylar, Nomex, Kapton, Others), Length (Less Than 1m, 1m To 2 M, 2 Mt To 3 Mt, More Than 3 Mt), Busbar Type (Single Conductor Busbars, Multiple Conductor Busbars, Flexible Busbars, Laminate Busbars), Power Rating (Low Power, Medium Power (125 A-800 A), High Power (Above 800 A), End User (Industrial, Residential, Commercial) - Industry Trends and Forecast to 2030.

Busbar Market Analysis and Size

The growing focus on energy efficiency with a preference for busbars over cables is the major driving factor in the market. The geopolitical trade conflict with China leading to a decline in sales can prove to be a challenge. However, many of the advantages of smart city development and growth in switchgear and energy & power market prove to be an opportunity. The fluctuation in raw material prices, especially copper, can be a restraint for the adoption of busbars and the challenges faced due to the impact of Covid-19 on the supply chain of raw materials.

Data Bridge Market Research analyses that the global busbar market was valued at 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. “Commercial” is expected to witness high growth in the respective market owing to factors such as increasing demand for electricity, rapid urbanization, and commercialization. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Busbar Market Scope and Segmentation

Market Definition

A busbar is a strip or bar of copper, brass, or aluminum that conducts electricity within a switchboard, distribution board, substation, battery bank, or other electrical apparatus in power distribution. Its primary function is to conduct electricity, not to serve as a structural member. The maximum amount of current that can be safely cast is determined by the cross-sectional size of the busbar. Busbars can have a cross-sectional area as small as 10 mm2, but electrical substations may use metal tubes with a diameter of 50 mm or greater as busbars. Large busbars will be used in an aluminum smelter to carry tens of thousands of amperes to the electrochemical cells that produce aluminum from molten salts.   

Global Busbar Market Dynamics

Drivers

• Increasing Demand For Electric Vehicles Across the Globe

Surge in the adoption of electric vehicles is not only reshaping the automotive industry but also exerting a profound impact on ancillary markets essential to support this transition. One such critical component is the busbar market, which plays a pivotal role in the efficient and reliable distribution of electrical power within electric vehicles. As governments worldwide set ambitious targets to phase out traditional internal combustion engines in favor of electric propulsion, the busbar market is witnessing a surge in demand, underlining its significance in facilitating the electrification revolution.

• Rising Need for Telecommunication Equipment

Demand for robust and efficient telecommunication infrastructure is reaching unprecedented heights as societies become increasingly reliant on seamless connectivity. This is boosting the need for advanced telecommunication equipment as data consumption among customer has increased significantly due to the rise of cloud computing, and the advent of 5G technology. As the telecommunication industry evolves to meet these demands, the significance of reliable and high-performance electrical systems are required. The busbar market emerges as a crucial player in this landscape, providing the backbone for power distribution within telecommunication equipment.

Opportunity

• Rise in The Demand for Electrification

Surge in the demand for electrification across various sectors. As industries and communities strive to reduce reliance on traditional fossil fuels, electrification has emerged as a pivotal solution to address both environmental concerns and the quest for energy efficiency. This shift towards electrification is evident in the increasing adoption of electric vehicles, renewable energy systems, and advanced industrial automation. This transformative journey is expected to boost the demand for the busbar market, as it is a fundamental component that facilitates the efficient distribution of electrical power.

Restraint/Challenge

• High Price Volatility Associated With Raw Materials

The costs associated with busbars, which is an essential components for conducting and distributing electrical energy within various applications, have become a focal point for industries and enterprises navigating the path of electrical infrastructure development. The volatility in pricing not only poses financial challenges but also necessitates strategic considerations for businesses reliant on stable and predictable operational costs.

This busbar market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the busbar market contact Data Bridge Market Research for an Analyst Brief, Our team will help you take an informed market decision to achieve market growth.

Recent Development

• In September 2022, Molex announced the expansion of its manufacturing plant in Vietnam. This expansion will help support the growing demand for its products that are used in many different applications, which will help the company to offer 200 new jobs and manage the demand and supply of the product in the market by accelerating the manufacturing product facilities
• In March 2021, Rittal GmbH & Co. K.G. announced the partnership with Stulz to provide made-to-measure data center infrastructure, consulting, support, and services. This partnership has ensured the business growth for power distribution systems which enhanced the revenue growth for the company

Global Busbar Market Scope

The busbar market is segmented on the basis of mode of conductor, weight wise, shape wise, insulation, length, busbar type, power rating and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Conductor

• Aluminium
• Copper

Weight Wise

• Less Than 1 Kg
• More Than 1 Kg

Shape Wise

• Chamfer
• Rectangle

Insulation

• Epoxy Power Coating
• Teonix
• Tedler
• Mylar
• Nomex
• Kapton
• Others

Length

• Less Than 1m
• 1m To 2 M
• 2 Mt To 3 Mt
• More Than 3 Mt

Busbar Type

• Single Conductor Busbars
• Multiple Conductor Busbars
• Flexible Busbars
• Laminate Busbars

Power Rating

• Low Power
• Medium Power (125 A-800 A)
• High Power (Above 800 A)

End User

• Industrial
• Residential
• Commercial

Global Busbar Market Regional Analysis/Insights

The Busbar market is analysed and market size insights and trends are provided by country, conductor, weight wise, shape wise, insulation, length, busbar type, power rating and end user as referenced above.

The countries covered in the market report are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, rest of South America.

North America is expected to dominate the market due to robust industrialization, a mature power infrastructure, and increasing demand for data centers.

Asia-Pacific is expected to experiences rapid growth due to extensive urbanization, infrastructural development, and growing emphasis on renewable energy projects, propelling the demand for busbars in the region.

The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Europe brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.      

Competitive Landscape and Global Busbar Market Share Analysis

The busbar market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the busbar market.

Some of the major players operating in the busbar market are:

• ABB (Switzerland)
• Siemens (Germany)
• Schneider Electric (France)
• Eaton (Ireland)
• GENERAL ELECTRIC (U.S.)
• Legrand SA (France)
• MERSEN PROPERTY (France)
• EMS Industrial & Service Company (U.S.)
• Oriental Copper Co., Ltd. (Thailand)
• Rittal GmbH & Co. KG (Germany)
• CHINT Group (China)
• Promet AG (Switzerland)
• METHODE ELECTRONICS (U.S.)
• Sun.King Technology Group Limited (China)
• Rogers Corporation (U.S.)
• Amphenol Corporation (U.S.)
• Watteredge, LLC (U.S.)
• Emerson Electric Co. (U.S.)
• Busbar Systems Belgium (Belgium)