The busbar market size has grown strongly in recent years. It will grow from $17.71 billion in 2024 to $18.64 billion in 2025 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to industrialization and infrastructure development, rising energy consumption, increasing renewable energy integration, demand from key end-use industries, government regulations.
The busbar market size is expected to see strong growth in the next few years. It will grow to $23.65 billion in 2029 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to transition to smart grids, continued industrial growth, focus on energy efficiency, rising data center construction, integration of energy storage. Major trends in the forecast period include rising demand for energy efficiency, increased adoption of renewable energy, advanced materials and technologies, compact and modular designs, electrification of transportation.
The increasing concern over reducing energy losses in electric transmission is anticipated to drive growth in the busbar market. Energy loss in electric transmission encompasses waste during electricity production, transmission, and distribution, with resistance in electrical conductors being a significant contributor to these losses. Busbars, with their low resistance, can transport large amounts of electricity while minimizing energy waste. This efficiency makes busbars a viable alternative to conventional wiring, ultimately reducing costs associated with energy losses. For instance, in July 2022, the Energy Information Administration (EIA) reported that approximately 4.17 trillion kilowatt-hours (kWh) of electricity in 2023 would primarily come from fossil fuels (60%), with nuclear energy contributing 19% and renewables making up 21%. This reliance on fossil fuels highlights the urgent need for enhanced integration of renewable energy solutions, further emphasizing the role of busbars in achieving energy efficiency. Thus, the growing focus on minimizing energy losses in electric transmission is expected to propel the busbar market in the future.
The rising popularity of electric vehicles (EVs) is anticipated to boost the busbar market in the coming years. EVs are vehicles that operate either partially or fully on electricity stored in rechargeable batteries. In these vehicles, busbars serve as crucial conductive pathways that efficiently distribute electrical power from the battery to various components, including the electric motor, charging system, and auxiliary systems. By providing a streamlined and high-capacity electrical connection, busbars enhance power transmission within the vehicle's electrical system, ensuring dependable performance. For example, in July 2023, the International Energy Agency, an autonomous organization based in France, reported that over 2.3 million electric cars were sold in the first quarter of 2023, marking a 25% increase compared to the same period in 2022. Sales are projected to reach 14 million by the end of 2023, signifying a 35% increase year-over-year, with growth expected to accelerate in the latter half of the year. Consequently, the growing adoption of electric vehicles is contributing to the expansion of the busbar market.
Key players in the busbar market are innovating by developing advanced products such as modular busbar systems. These systems comprise standardized modules that allow easy assembly into flexible power distribution networks. For instance, in September 2022, Vertiv introduced the Vertiv Powerbar iMPB, designed for data centers and dynamic environments. This modular system, with capacities from 160 amps to 1,000 amps, facilitates seamless power upgrades without requiring additional floor space. It caters to modern data centers' evolving power needs with a compact and adaptable solution.
Leading companies in the busbar market focus on creating cutting-edge products, such as busbar couplers, to maintain a competitive edge. Busbar couplers are components connecting two electrical conductors or busbars. For example, in February 2022, Interplex Industries Inc. launched the BusMate Power Busbar Coupler, streamlining assembly for high-density power applications. This compact, pluggable interface allows efficient integration into power devices, offering versatility for various designs and configurations. With features such as Floating Contact Technology and temperature resistance up to 150°C, this product meets evolving requirements in power-dense applications across industries such as Electric Vehicles, e-Mobility, and Energy sectors.
In December 2022, Aptiv PLC, an automotive company based in Ireland, successfully acquired an 85% stake in Intercable Automotive Solutions for $616 million (€595 million). This strategic move significantly bolstered Aptiv's expertise in high voltage power distribution and interconnect technology, elevating its standing as a global frontrunner in vehicle architecture systems. Intercable Automotive Solutions is an Italy-based interconnect solutions company that designs and manufactures solutions for vehicle electrification.
Major companies operating in the busbar market include Siemens AG, ABB Ltd., Schneider Electric SE, Eaton Corporation plc, TE Connectivity Ltd., Legrand S.A., Mersen S.A., CHINT Group Co. Ltd., C&S Electric Limited, Rogers Corporation, Friedhelm Loh Group, Cubic Module System A/S, Hager Vertriebsgesellschaft mbH & Co. KG, Starline Holdings LLC, Sedotec GmbH & Co. KG, Methode Electronics Ltd., General Electric Company, Rittal GMBH & Co. KG, Power Products LLC, Promet AG, Godrej & Boyce Manufacturing Company Limited, Bhagyanagar India Limited, Oriental Copper Co. Ltd., Littelfuse Inc., Southwire Company LLC, Pentair plc, Sarkuysan Elektrolitik Bakir Sanayi ve Ticaret A.S., Keiper Electric GmbH, Mitsubishi Electric India Private Limited, nVent Electric plc, Alcan Cable, ERICO International Corporation.
North America was the largest region in the busbar market in 2024 and is expected to be the fastest-growing region in the global busbar market report forecast period. The regions covered in the busbar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the busbar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
A busbar, a metallic strip or bar within a power distribution system, serves as a conductor for transmitting electrical energy. Typically crafted from copper or aluminum, it's designed to handle substantial electrical loads.
The primary materials employed in busbar manufacturing are aluminum, copper, and brass. Aluminum, a thin, silvery-white metal known for its ductility, lightness, and resistance to corrosion, is widely utilized in busbar construction. Its favorable electrical and mechanical attributes, including lower resistivity and lightweight nature, make it a preferred choice. Power ratings vary from low to medium and high, finding applications across utility, industrial, residential, and commercial sectors.
The busbar market research report is one of a series of new reports that provides busbar market statistics, including busbar industry global market size, regional shares, competitors with a busbar market share, detailed busbar market segments, market trends and opportunities, and any further data you may need to thrive in the busbar industry. This busbar market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The busbar market consists of sales of single busbar, main and auxiliary busbar, double busbar, double main and auxiliary busbar, enclosed busbar, open busbar, isolated phase busbar and gas-pressurized insulated busbar. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The busbar market size is expected to see strong growth in the next few years. It will grow to $23.65 billion in 2029 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to transition to smart grids, continued industrial growth, focus on energy efficiency, rising data center construction, integration of energy storage. Major trends in the forecast period include rising demand for energy efficiency, increased adoption of renewable energy, advanced materials and technologies, compact and modular designs, electrification of transportation.
The increasing concern over reducing energy losses in electric transmission is anticipated to drive growth in the busbar market. Energy loss in electric transmission encompasses waste during electricity production, transmission, and distribution, with resistance in electrical conductors being a significant contributor to these losses. Busbars, with their low resistance, can transport large amounts of electricity while minimizing energy waste. This efficiency makes busbars a viable alternative to conventional wiring, ultimately reducing costs associated with energy losses. For instance, in July 2022, the Energy Information Administration (EIA) reported that approximately 4.17 trillion kilowatt-hours (kWh) of electricity in 2023 would primarily come from fossil fuels (60%), with nuclear energy contributing 19% and renewables making up 21%. This reliance on fossil fuels highlights the urgent need for enhanced integration of renewable energy solutions, further emphasizing the role of busbars in achieving energy efficiency. Thus, the growing focus on minimizing energy losses in electric transmission is expected to propel the busbar market in the future.
The rising popularity of electric vehicles (EVs) is anticipated to boost the busbar market in the coming years. EVs are vehicles that operate either partially or fully on electricity stored in rechargeable batteries. In these vehicles, busbars serve as crucial conductive pathways that efficiently distribute electrical power from the battery to various components, including the electric motor, charging system, and auxiliary systems. By providing a streamlined and high-capacity electrical connection, busbars enhance power transmission within the vehicle's electrical system, ensuring dependable performance. For example, in July 2023, the International Energy Agency, an autonomous organization based in France, reported that over 2.3 million electric cars were sold in the first quarter of 2023, marking a 25% increase compared to the same period in 2022. Sales are projected to reach 14 million by the end of 2023, signifying a 35% increase year-over-year, with growth expected to accelerate in the latter half of the year. Consequently, the growing adoption of electric vehicles is contributing to the expansion of the busbar market.
Key players in the busbar market are innovating by developing advanced products such as modular busbar systems. These systems comprise standardized modules that allow easy assembly into flexible power distribution networks. For instance, in September 2022, Vertiv introduced the Vertiv Powerbar iMPB, designed for data centers and dynamic environments. This modular system, with capacities from 160 amps to 1,000 amps, facilitates seamless power upgrades without requiring additional floor space. It caters to modern data centers' evolving power needs with a compact and adaptable solution.
Leading companies in the busbar market focus on creating cutting-edge products, such as busbar couplers, to maintain a competitive edge. Busbar couplers are components connecting two electrical conductors or busbars. For example, in February 2022, Interplex Industries Inc. launched the BusMate Power Busbar Coupler, streamlining assembly for high-density power applications. This compact, pluggable interface allows efficient integration into power devices, offering versatility for various designs and configurations. With features such as Floating Contact Technology and temperature resistance up to 150°C, this product meets evolving requirements in power-dense applications across industries such as Electric Vehicles, e-Mobility, and Energy sectors.
In December 2022, Aptiv PLC, an automotive company based in Ireland, successfully acquired an 85% stake in Intercable Automotive Solutions for $616 million (€595 million). This strategic move significantly bolstered Aptiv's expertise in high voltage power distribution and interconnect technology, elevating its standing as a global frontrunner in vehicle architecture systems. Intercable Automotive Solutions is an Italy-based interconnect solutions company that designs and manufactures solutions for vehicle electrification.
Major companies operating in the busbar market include Siemens AG, ABB Ltd., Schneider Electric SE, Eaton Corporation plc, TE Connectivity Ltd., Legrand S.A., Mersen S.A., CHINT Group Co. Ltd., C&S Electric Limited, Rogers Corporation, Friedhelm Loh Group, Cubic Module System A/S, Hager Vertriebsgesellschaft mbH & Co. KG, Starline Holdings LLC, Sedotec GmbH & Co. KG, Methode Electronics Ltd., General Electric Company, Rittal GMBH & Co. KG, Power Products LLC, Promet AG, Godrej & Boyce Manufacturing Company Limited, Bhagyanagar India Limited, Oriental Copper Co. Ltd., Littelfuse Inc., Southwire Company LLC, Pentair plc, Sarkuysan Elektrolitik Bakir Sanayi ve Ticaret A.S., Keiper Electric GmbH, Mitsubishi Electric India Private Limited, nVent Electric plc, Alcan Cable, ERICO International Corporation.
North America was the largest region in the busbar market in 2024 and is expected to be the fastest-growing region in the global busbar market report forecast period. The regions covered in the busbar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the busbar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
A busbar, a metallic strip or bar within a power distribution system, serves as a conductor for transmitting electrical energy. Typically crafted from copper or aluminum, it's designed to handle substantial electrical loads.
The primary materials employed in busbar manufacturing are aluminum, copper, and brass. Aluminum, a thin, silvery-white metal known for its ductility, lightness, and resistance to corrosion, is widely utilized in busbar construction. Its favorable electrical and mechanical attributes, including lower resistivity and lightweight nature, make it a preferred choice. Power ratings vary from low to medium and high, finding applications across utility, industrial, residential, and commercial sectors.
The busbar market research report is one of a series of new reports that provides busbar market statistics, including busbar industry global market size, regional shares, competitors with a busbar market share, detailed busbar market segments, market trends and opportunities, and any further data you may need to thrive in the busbar industry. This busbar market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The busbar market consists of sales of single busbar, main and auxiliary busbar, double busbar, double main and auxiliary busbar, enclosed busbar, open busbar, isolated phase busbar and gas-pressurized insulated busbar. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Busbar Market Characteristics3. Busbar Market Trends and Strategies4. Busbar Market - Macro Economic Scenario including the impact of Interest Rates, Inflation, Geopolitics and Covid and Recovery on the Market32. Global Busbar Market Competitive Benchmarking and Dashboard33. Key Mergers and Acquisitions in the Busbar Market34. Recent Developments in the Busbar Market
5. Global Busbar Growth Analysis and Strategic Analysis Framework
6. Busbar Market Segmentation
7. Busbar Market Regional and Country Analysis
8. Asia-Pacific Busbar Market
9. China Busbar Market
10. India Busbar Market
11. Japan Busbar Market
12. Australia Busbar Market
13. Indonesia Busbar Market
14. South Korea Busbar Market
15. Western Europe Busbar Market
16. UK Busbar Market
17. Germany Busbar Market
18. France Busbar Market
19. Italy Busbar Market
20. Spain Busbar Market
21. Eastern Europe Busbar Market
22. Russia Busbar Market
23. North America Busbar Market
24. USA Busbar Market
25. Canada Busbar Market
26. South America Busbar Market
27. Brazil Busbar Market
28. Middle East Busbar Market
29. Africa Busbar Market
30. Busbar Market Competitive Landscape and Company Profiles
31. Busbar Market Other Major and Innovative Companies
35. Busbar Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Busbar Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on busbar market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for busbar? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The busbar market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Material: Aluminum; Copper; Brass2) By Power Rating: Low; Medium; High
3) By End-User: Utilities; Industrial; Residential; Commercial
Subsegments:
1) By Aluminum: Extruded Aluminum Busbars; Rolled Aluminum Busbars; Welded Aluminum Busbars2) By Copper: Electrolytic Copper Busbars; Tinned Copper Busbars; Enameled Copper Busbars
3) By Brass: Extruded Brass Busbars; Cast Brass Busbars; Tinned Brass Busbars
Key Companies Mentioned: Siemens AG; ABB Ltd.; Schneider Electric SE; Eaton Corporation plc; TE Connectivity Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Siemens AG
- ABB Ltd.
- Schneider Electric SE
- Eaton Corporation plc
- TE Connectivity Ltd.
- Legrand S.A.
- Mersen S.A.
- CHINT Group Co. Ltd.
- C&S Electric Limited
- Rogers Corporation
- Friedhelm Loh Group
- Cubic Module System A/S
- Hager Vertriebsgesellschaft mbH & Co. KG
- Starline Holdings LLC
- Sedotec GmbH & Co. KG
- Methode Electronics Ltd.
- General Electric Company
- Rittal GMBH & Co. KG
- Power Products LLC
- Promet AG
- Godrej & Boyce Manufacturing Company Limited
- Bhagyanagar India Limited
- Oriental Copper Co. Ltd.
- Littelfuse Inc.
- Southwire Company LLC
- Pentair plc
- Sarkuysan Elektrolitik Bakir Sanayi ve Ticaret A.S.
- Keiper Electric GmbH
- Mitsubishi Electric India Private Limited
- nVent Electric plc
- Alcan Cable
- ERICO International Corporation
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | February 2025 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value ( USD | $ 18.64 Billion |
| Forecasted Market Value ( USD | $ 23.65 Billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 32 |
