"Increasing Energy Requirement Due to Industrialization & Urbanization Ensure Rapid Growth for Busbar Market"
Globally, the Busbar market is expected to grow with a CAGR of 7.0% during the forecast period from 2019 to 2027, starting from 2018 with a market value of US$ 18.50 Bn. Busbar are metallic strips which are made of copper, aluminum or brass, these strips can either conduct or ground the electricity. The busbar makes the complex power distribution flexible, easier and less expensive as compare to the traditional way. The increasing demand of electricity in industrial and urban areas are driving the busbar market due to their capability to distribute the electricity efficiently and saves cost for the distribution. Moreover, the busbars are also easy to install and their ability to remove, add or relocate the power easily without causing any downtime during the functioning also drives the market.
Market Synopsis
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"Busbar With Low Power Busbar in its Power Rating Segment Continue Dominating the Market"
In 2018, the global busbar market was led by the low power busbar in its power-rating segment contributing to a high percent of market share of the total revenue generated globally. The demand of light power busbar is increasing among the commercial and industrial segments due to their capability of offering power to light fixtures. These are majorly used in the switchboard and panels. The low power busbar is has a major application in residential, utilities and industrial application making it the dominating sector.
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"North America Dominates the Market by Region"
Busbar market is led by North America due to the presence of various key players present in the region and requirement of electricity in the manufacturing industries, residential and commercial users. Additionally, the bus bars are also becoming common among hospitals, commercial complexes, research centers and hotels which drives the demand of busbars market in the region. Bus bar reduces the power loss as compare to the cables making it a useful product for power distribution. However, Asia-Pacific region is expected to be the fastest growing market due to rapid urbanization.
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Some of the prominent players operating in the Busbar market include Schneider Electric SE, ABB Ltd, Siemens AG, Legrand S.A., C &S Electric Company, Rittal GMBH & CO.KG., Eaton Corporation plc, CHINT Electric Co.Ltd, Naxso S.R.L, Graziadio & C. S.P.A., Mersen S.A., ARJ Group, and Nova Ltd.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The busbar market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global busbar market based on power rating, conductor, end-user, and geography. Key segments covered in the report are as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Billion |
| Segmentation |
Power Rating Segment (2017–2027; US$ Bn)
• Low Power
• Medium Power
• High Power
|
|
End-User Segment (2017–2027; US$ Bn)
• Utilities
• Residential
• Commercial
• Industrial
• Chemicals & Petroleum
• Metals & Mining
• Manufacturing
• Others
|
|
Conductor (2017–2027; US$ Bn)
• Aluminum
• Copper
|
|
Geography Segment (2017–2027; US$ Bn)
• North America (U.S., Rest of North America)
• Europe (U.K, Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)
|
Key questions answered in this report
- What was the market size of Busbar in 2018 and forecast up to 2027?
- Which is the largest regional market for low power in power rating?
- What are the major trends followed in Busbar market across different regions?
- Who are the key Busbar companies leading the market?
- What are the key strategies adopted by the leading Busbar companies in market?
Unique data points of this report
- Statistics on Busbar penetration and spending worldwide
- Recent trends across different regions in terms of adoption of Busbar for various vehicles
- Notable developments going on in bus bar market
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
