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.
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.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Material Type
By Application
By Region
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.
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
- Aluminum
- Copper
- Brass
By Application
- Industrial
- Commercial
- Residential
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Key Players
- Siemens AG
- ABB Ltd.
- Schneider Electric SE
- Eaton Corporation Plc.
- Rogers Corporation
- TE Connectivity Ltd.
- Legrand S.A.
- Friedhelm Loh Group
- Mersen S.A.
- Chint Group
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Global Busbar Market, By Material Type
Chapter 5: Global Busbar Market, By Application
Chapter 6: Global Busbar Market, By Region
Chapter 7: Company Profiles
Executive Summary
According to the report titled, 'Busbar Market by Material Type and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026', the global busbar market size was valued at $14.0 billion in 2018 and is anticipated to generate $23.6 billion by 2026. The market is projected to experience growth at a CAGR of 6.1% from 2019 to 2026.Busbar is a metallic strip that distributes power in a system. It is made from metals such as aluminum, copper, bronze, or other efficient alloys. It offers high conductivity and low energy loss during transmission resulting into their wide adoption in many industries. It is fully or partly insulated for protection from accidental human touch. It is commonly found enclosed in switchgears, panel boards, switch panels, and busway enclosures and can endure high temperature environment and possess great mechanical strength.
The need for efficient conductor and lower energy loss during transmission has replaced the conventional methods of power distribution by busbar made from metals driving busbar market growth. Moreover, green city concepts are boosting market growth. In-addition, the wind power generation & distribution industry is experiencing a surge which results in high demand for busbars, hence driving the busbar market growth. Furthermore, busbar largely cuts down the facility costs as they replace the cables and other related components acting as another factor for market growth. However, the cheap and low-quality products, lack of R&D activities, and volatile raw material pricing hampers the market growth. Meanwhile, emerging switchgear market and energy & power market offers lucrative opportunities for busbar industry.
The global busbar market is segmented based on materials type, application, and region. Based on materials type, it is divided into aluminum, copper, and brass. Copper segment dominated the market but aluminum is expected to grow rapidly during the forecast period. The application covered in the study are industrial, commercial and residential. Industrial segment garnered the highest share. However, commercial market is expected to grow fastest during the forecast period owing to replacement of cables with busbar. Based on region, busbar market analysis is done across North America, Europe, Asia-Pacific and LAMEA (Latin America, Middle East and Africa). Asia-pacific market garnered the largest busbar market share. China dominated the market in the region while India is expected to grow at the fastest rate owing to increasing investment in the country in the market. North America is expected to grow at higher pace owing to large concentration of manufacturer in the region. U.S. dominated the busbar market share followed by Canada.
Key Findings of the Busbar Market:
Global busbar market size is provided in terms of revenue
Canada is projected to grow at the highest CAGR of approximately 8%, in terms of revenue, during the forecast period
By application, the commercial segment is anticipated to grow with CAGR 6.8%, in terms of revenue, during the forecast period
China and U.S. dominated the busbar market growth with a revenue share of over 32.6% and 16.8% in 2018
A comprehensive analysis of the factors that drive and restrain the market growth is provided
The qualitative data in this report aims at the busbar market trends, dynamics, and developments in the busbar industry
The key players in 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.
Companies Mentioned
- Siemens AG
- ABB Ltd.
- Schneider Electric SE
- Eaton Corporation Plc.
- Rogers Corporation
- TE Connectivity Ltd.
- Legrand S.A.
- Friedhelm Loh Group
- Mersen S.A.
- Chint Group.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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