Busbar Systems Market Size was valued at USD 10.5 Billion in 2022. The Busbar Systems market industry is projected to grow from USD 12.38 Billion in 2023 to USD 46.32 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 17.93% during the forecast period (2024 - 2032). Rising investment in clean energy projects, rising power consumption, and the technical advantages of busbar systems, particularly in the industrial sector, are the key market drivers attracting market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Manufacturers of B.B.T. systems may expect expansion in various sectors, including the automotive, electronic, oil & gas, construction, machining, and chemical processing industries. Construction and industrialization are being driven by emerging economies like ASEAN, Brazil, China, and India, which is likely to hasten the expansion of the busbar systems market. Since busbar systems are small and offer a single run for numerous circuits, they are used in various end-use industries, including textile and power plants. Additionally, these systems have lower running costs than wires and take less installation time. These elements are anticipated to boost the market CAGR and the demand for B.B.T. systems in end-use sectors like oil and gas, the commercial sector, and tall structures.
Rising product demand in the commercial and industrial sectors, where power distribution busbar trunking systems are commonly utilized, is projected to boost the industry scenario driven by increasing energy demand. The expanding building activities and infrastructure development in these areas drive the demand for these systems. Additionally, the product is being developed and produced to be more energy efficient due to the growing emphasis on sustainability and energy saving. Companies are implementing cutting-edge materials and technologies to lower power losses and boost system effectiveness.
Additionally, the market need for busbar trunking systems is driven by the rapid expansion of renewable energy installations, including solar and wind power, to distribute the generated power efficiently. These systems offer a dependable and secure way to move electricity generated by renewable sources to the grid or nearby loads. These systems' dependability and safe operation are guaranteed by compliance with international safety standards. Thus, driving the Busbar Systems market revenue.
Based on Conductors, the Busbar Systems market segmentation includes Copper and Aluminum. Copper dominate the busbar system market. Both low-current and high-current applications can use copper busbars. Applications requiring low current and moderate current employ aluminum busbars. Aluminum has an advantage over copper in terms of price.
Figure 1: Busbar Systems Market, by Conductor, 2024 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Based on Power Rating, the Busbar Systems market segmentation includes Low, Medium, and High. The largest and fastest-growing segment is the high. This is because high-power applications like industrial automation, data centers, and renewable energy are increasingly in demand. With these applications, the need for high-power busbar systems is anticipated to increase.
The Busbar Systems market segmentation, based on End-Use Industry, includes Residential, Industrial, and Commercial. The commercial segment is predictable to be the chief market share in the busbar systems market. Owing to factors like rising energy efficiency adoption, government mandates to reduce electricity use, rising demand for reliable electricity supply, and increased attention to energy efficiency in the sector. The industrial sector is estimated to dominate the busbar systems market during the forecast period. The energy-intensive manufacturing industries that produce basic chemicals, iron and steel, food, metals that are not ferrous, non-metallic minerals, refinery products, and paper account for most of the energy used in the industrial sector. During the projected period, energy-intensive industries are anticipated to account for half of the industrial sector's energy consumption.
By region, the report provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. North America dominates busbar system sales. The main factor behind North America's dominance in the busbar system industry is the easy access to financial resources brought on by the region's robust economy. The demand for contemporary busbars has surged in recent years due to the U.S. government's desire to replace all conventional wires with them.
Further, the major countries studied in the market report are The US, Canada, German, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Busbar Systems Market Share By Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe Busbar Systems market accounts for the second-largest market share. Busbars are becoming more widely accepted and used across Europe in various sectors, including industrial, education, and public buildings like hospitals and universities. The rising food and beverage, automotive, electronics, and mining industries, which all have a substantial demand for busbars, are the main market drivers for busbars in Germany. Further, the German Busbar Systems market held the largest market share, and the U.K. Busbar Systems market was the fastest-growing market in this region.
The Asia-Pacific Busbar Systems Market is expected to grow at the fastest CAGR from 2023-2032. During the forecast period, Asia-Pacific is anticipated to have the quickest growth rate. Owing to its rapid urbanization, population growth, and industrialization, Asia-Pacific is one of the world's areas with the fastest growth rates. The need for a reliable power supply is therefore great. Several nations are investing in the transmission and distribution of energy and the renewable energy industry to meet these demands. Moreover, China’s Busbar Systems market held the major market share, and the Indian Busbar Systems market was the fastest-growing market in this region.
Leading market players are making large investments to diversify their product offerings across regional markets and seize expansion opportunities. Market participants are undertaking market developments such as strategies for acquisition and investment being established to expand market share by broadening product offerings, advancing technology, optimizing regional positioning, and penetrating emerging markets. Innovation and product development are other areas of interest among players in the Busbar Systems industry.
To strengthen their position in the busbar systems market, major manufacturers also emphasize mergers and acquisitions in the Busbar Systems industry. In recent years, the Busbar Systems industry these significant improvements are anticipated to propel the market for busbar systems. Major players in the Busbar Systems market include ABB Ltd. (Switzerland), A.R.J. Group (U.A.E.), Busbar Services (South Africa), C&S Electric Ltd. (India), E.A.E EleKTrik A.S. (Turkey), Eaton Corporation, P.L.C., (Republic of Ireland), Entraco Power (India), General Electric Company. (U.S.), Gersan EleKTrikAS. (Turkey), Godrej & Boyce Manufacturing Company Ltd. (India), Graziadio & C. S.P.A. (Italy), IBAR (EMEA) Ltd. (Kendal, UK), KGS Engineering Ltd. (Chennai, India), Schneider Electric Co. (France), Larsen & Toubro. (India), Legrand. (France), and Megabarre Group. (Italy).
ABB Ltd. is a Swiss conglomerate with its headquarters in Zurich. It is a holding company with four divisions: robotics & discrete automation, industrial automation, motion, and electrification. ABB's Busbar Systems business unit develops, produces, and sells busbar systems for various uses. Busbar systems made by ABB are renowned for their superior quality, dependability, and safety. Additionally, they are made versatile and scalable so that they may be adjusted to various applications.
C&S Electric Ltd is an international corporation with its headquarters in Delhi, India. One of India's top producers of electrical equipment, it also sells its goods to more than 50 other nations. The Busbar Systems business unit of C&S Electric develops, produces, and sells busbar systems. Busbar Systems, a business unit of C&S Electric, made $300 million in revenue in 2022. The business unit employs over 1,000 people and conducts business in over 20 nations.
January 2023:The American government committed USD 2.7 billion to improving and expanding the nation's rural power infrastructure. The strategy is predicted to increase grid security, upgrade and develop the country's rural electric system, contributing to industry growth.
September 2021:The largest manufacturer of busbar systems in the G.C.C., E&I Engineering Ireland, and its UAE-based affiliate, Powerbar Gulf, will be acquired by Vertiv Holdings Company for USD 1.8 billion in advance consideration plus the possibility of up to USD 200 million in cash. Vertiv Holdings Company provides vital digital infrastructure and continuity solutions globally.
March 2020:ABB Ltd.'s electrification business unit purchased a sizable stake in Shanghai Charge Dot New Energy Technology Co., Ltd.
January 2020:A Redditch-based producer of automotive technology awarded Samuel Taylor Limited a contract to help develop E.V.s. The first company will manufacture parts and bi-metals to develop battery busbar technology.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 10.5 Billion |
| Market Size 2023 | USD 12.38 Billion |
| Market Size 2032 | USD 46.32 Billion |
| Compound Annual Growth Rate (CAGR) | 17.93% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Conductor, Power Rating, End-Use Industry, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | ABB Ltd. (Switzerland), A.R.J. Group (U.A.E.), Busbar Services (South Africa), C&S Electric Ltd. (India), E.A.E EleKTrik A.S. (Turkey), Eaton Corporation, P.L.C., (Republic of Ireland), Entraco Power (India), General Electric Company. (U.S.), Gersan EleKTrikAS. (Turkey), Godrej & Boyce Manufacturing Company Ltd. (India), Graziadio & C. S.P.A. (Italy), IBAR (EMEA) Ltd. (Kendal, UK), KGS Engineering Ltd. (Chennai, India), Schneider Electric Co. (France), Larsen & Toubro. (India), Legrand. (France), and Megabarre Group. (Italy) |
| Key Market Opportunities | Systems have lower running costs. |
| Key Market Dynamics | Construction and industrialization Growing emphasis on sustainability and energy saving |
Frequently Asked Questions (FAQ) :
The global Busbar Systems market size was valued at USD 10.5 Billion in 2022.
The global market will likely grow at a CAGR of 17.93% from 2024 to 2032.
North America had the major share of the global market.
The significant players in the market are ABB Ltd. (Switzerland), A.R.J. Group (U.A.E.), Busbar Services (South Africa), C&S Electric Ltd. (India), E.A.E EleKTrik A.S. (Turkey), Eaton Corporation, P.L.C., (Republic of Ireland), Entraco Power (India), General Electric Company. (U.S.), Gersan EleKTrikAS. (Turkey), Godrej & Boyce Manufacturing Company Ltd. (India), Graziadio & C. S.P.A. (Italy), IBAR (EMEA) Ltd. (Kendal, UK), KGS Engineering Ltd. (Chennai, India), Schneider Electric Co. (France), Larsen & Toubro. (India), Legrand. (France), and Megabarre Group. (Italy).
The copper category dominated the global market in 2022.
The high-power rating had the largest share in the global Busbar Systems market.
Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
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