Global Busbar Market accounted for revenue of $14.0 billion in 2018 and is anticipated to generate $23.6 billion by 2026. The global busbar market is projected to experience growth at a CAGR of 6.1% from 2019 to 2026. Busbar consists of a strip or bar of conductor made of aluminum, copper, or brass. It is covered by insulators that connect electrical loads and distribute power in an integrated electrical network for safety purposes. It has applications majorly in switchgears, switchboards, distribution panels, and multiple establishments that are based on consumption of electric power. Aluminum is majorly preferred metal for busbars owing to its high electrical conductivity and lower energy loss during transmission in comparison to other materials.
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The government is concerned regarding energy efficiency. The preference of busbars over cables owing to low cost drives the market growth. Wind power and global power generation are now being integrated resulting in increased demand for busbars. The concepts of smart & green cities also act as key factor that boosts the busbar market growth owing to the increased application of busbars. The grey market that offers low-quality and cheap products hinders the busbar market growth. In-addition, the fluctuation in raw material prices and lack of R&D activities also acts as challenge for the market. Meanwhile, emerging applications in switchgears market act as a key factor to offer lucrative growth opportunities to the busbar market.
Global busbar market is segmented on the basis of material type, application, and region. Depending on material type, it is divided into aluminum, copper, and brass. The application covered in the study includes industrial, commercial and residential. Region wise, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA (Latin America, Middle East and Africa).
The key players operating in global busbar industry are Siemens AG, ABB Ltd., Schneider Electric SE, Eaton Corporation Plc., Rogers Corporation, TE Connectivity Ltd., Legrand S.A., Friedhelm Loh Group, Mersen S.A., and Chint Group. The key players have adopted several strategies such as new product launch, agreement, acquisition, and expansion to sustain the intense competition in the market.
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KEY BENEFITS FOR STAKEHOLDERS
• The report provides extensive qualitative and quantitative analysis of the current trends and future estimations of the global busbar market from 2018 to 2026 to determine the prevailing opportunities.
• Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
• Estimations and forecast are based on factors impacting the busbar market growth, in terms of value.
• Profiles of leading players operating in the busbar market are provided to understand the global competitive scenario.
• The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable busbar market growth.
KEY MARKET SEGMENTS
By Material Type
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Saudi Arabia
• South Africa
• Rest of LAMEA
o Siemens AG
o ABB Ltd. (NYSE:ABB)
o Schneider Electric SE
o Eaton Corporation Plc. (NYSE:ETN)
o Rogers Corporation (NYSE:ROG)
o TE Connectivity Ltd. (NYSE:TEL)
o Legrand S.A.
o Friedhelm Loh Group
o Mersen S.A.
o Chint Group
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