PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1834228
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1834228
The global busbar market is estimated to grow from USD 15.72 billion in 2025 to USD 27.71 billion by 2035, at a CAGR of 5.8%.
Scope of the Report | |
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Years Considered for the Study | 2020-2035 |
Base Year | 2024 |
Forecast Period | 2024-2035 |
Units Considered | Value (USD Million), Volume (KT) |
Segments | Insulation, Power Rating, Material, Manufacturing Process, and End-use Application |
Regions covered | North America, Europe, Asia Pacific, South America, and Middle East & Africa |
The need to drive faster expansion of infrastructural development in key markets worldwide is a major factor spurring demand for advanced busbars. India is witnessing a resurgence of state-driven investment in infrastructure through the National Infrastructure Pipeline and increased capital expenditure, leading to renewed investment in mature assets, such as power and transportation, as well as the growth of new digital-related infrastructure.
Such endeavors entail major overhauls in electrical and communication systems, and the number of busbars involved in these systems is large and highly complex, requiring efficient handling to create a secure environment with a guarantee of expediency. In the United States, infrastructure continues to be chronically underfunded and deteriorating, and federal infrastructure investment policy is targeting a significant upgrade of energy, transportation, and digital networks, including trillion-dollar spending, with the signature legislation of the Infrastructure Investment and Jobs Act. This high level of infrastructure development increases the demand for advanced busbar management to enhance grid reliability, facilitate installation, and enable efficient operations and maintenance.
"Stamped segment to be largest manufacturing process segment in busbar market during forecast period."
The segments that are the most significant in the busbar market include the molded, stamped, hybrid, and flexible processes. Stamped busbars are very strong, durable, and able to withstand rough environments, which are characteristic of industrial and outdoor applications. Molded busbars offer high electromagnetic field (EMI) shielding, making them essential in equipment that transports special power and telecom cables. They are also rugged and, therefore, suitable for high-stakes installations such as construction sites and industrial workplaces. Hybrid busbars combine the strengths of molded and stamped processes, offering versatility and efficiency for complex power distribution systems. Flexible busbars, due to their adaptability, are increasingly used in dynamic applications such as electric vehicles and renewable energy setups.
"By material, aluminum to be fastest-growing segment in busbar market during forecast period."
Aluminum is projected to be the fastest-growing segment in the busbar market, as industries are experiencing rapid expansion with increasing deployment of busbars for global power distribution and high-capacity interconnections, particularly in offshore renewable energy projects and industrial applications. Aluminum busbars are favored for their lightweight nature and cost-effectiveness, often spanning large-scale power networks to connect manufacturing facilities, renewable energy sites, and industrial complexes. Copper busbars, known for their superior conductivity and durability, are increasingly used in high-demand applications such as data centers and electric vehicle charging stations, supported by advanced manufacturing techniques. The growth is fueled by technological advancements in high-voltage systems, which minimize transmission losses over long distances and support the integration of renewable energy into national grids.
"By region, Europe to be second-largest market during forecast period."
The European busbar market is experiencing steady growth, driven by significant investments in renewable energy projects, particularly wind and solar power, as well as the expansion of smart grid infrastructure. The region's focus on decarbonization and the transition to sustainable energy sources is boosting demand for efficient and reliable busbars. Additionally, the rollout of 5G networks and the modernization of aging electrical grids are key factors fueling market expansion. The growing adoption of electric vehicles and advancements in industrial automation further contribute to the market's positive trajectory. Europe's commitment to high-quality infrastructure and innovative technologies positions it as a leading region in the global busbar market.
By Company Type: Tier 1 - 30%, Tier 2 - 55%, and Tier 3 - 15%
By Designation: C-level Executives - 30%, Directors - 20%, and Others - 50%
By Region: North America - 18%, Europe - 8%, Asia Pacific - 60%, Middle East & Africa - 10%, and South America - 4%
Notes: The tiers of the companies are defined based on their total revenues as of 2024. Tier 1: > USD 1 billion, Tier 2: USD 500 million to USD 1 billion, and Tier 3: < USD 500 million.
Other designations include sales managers, engineers, and regional managers.
ABB (Switzerland), Legrand (France), Siemens (Germany), Eaton ( Ireland), and Schneider Electric (France) are some of the major players in the busbar market. The study includes an in-depth competitive analysis of these key players, including their company profiles, recent developments, and key market strategies.
The report defines, describes, and forecasts the global busbar market by material, insulation, manufacturing process, power rating, end-use application, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value and volume, and future trends in the busbar market.
Key Benefits of Buying the Report
A. BUSBAR MARKET, BY REGION, 2020-2024 (USD MILLION)