Busbar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Busbar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

  • May 2021 •
  • 109 pages •
  • Report ID: 5808163 •
  • Format: PDF
The global busbar market exhibited moderate growth during 2015-2020.

Busbars are strips of conductive materials which are used for collecting and distributing electric power. Since busbars ground and conduct electricity at the same time, they are often coated with materials which provide different conductivity limits and variations. They make the power distribution process easier, flexible and hassle-free. Additionally, they offer cost-efficient and fast installation services with no downtime. They also require few installation materials and employ reusable and re-locatable plug-in outlets. As a result, they are extensively utilized across various verticals including factories, data centers, retail facilities, hospitals, laboratories, universities, metros and railways.

The rising demand for electricity across residential, commercial and industrial sectors is the major factor driving the market growth. Changing lifestyles and increasing average global temperature have resulted in the adoption of heating, ventilation, and air conditioning (HVAC) systems across various industry sectors. This has created an increasing demand for uninterrupted and reliable power supply, thereby boosting the sales of high capacity busbars. Moreover, significant developments have also been witnessed in the power infrastructure sector. New power generation plants are continually being constructed, while the existing infrastructures are being renovated, thereby positively impacting the demand for busbars. In addition to this, governments of several countries are also taking initiatives to improve the existing power infrastructure to enhance electricity production and access. For instance, as per one of the World Bank reports, the Sub-Saharan African governments are engaging in collective investment endeavors for coordinated and long-term electrification plans, which is expected to improve the electricity access in the region. Also, Power Africa, a US government initiative, aims to aid governments of the African countries to improve the electricity status in the region. Furthermore, rising concerns about the risks posed by the increasing usage of non-renewable power sources have led to the growing adoption of energy-eficient products and systems which is further expected to drive the market in the coming years. Looking forward, the analyst expects the global busbar market to grow at a CAGR of around 5% during the forecast period (2021-2026).

Report Coverage:
Historical, Current and Future Market Trends

Market Breakup by Power Rating:
High
Medium
Low

Market Breakup by Conductor:
Copper
Aluminium

Market Breakup by End-User:
Industrial
Commercial
Residential
Utilities

Market Breakup by Industry:
Chemicals and Petroleum
Metals and Mining
Manufacturing
Others

Market Breakup by Region:
Asia Pacific
North America
Europe
Middle East and Africa
Latin America

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Siemens, ABB, Schneider Electric, Eaton Corporation, Legrand, General Electric, Mersen, Rittal, Chint Electric, Power Products, C&S Electric, Promet, ElvalHalcor S.A., Littelfuse, Southwire Company, Oriental Copper, etc.