Quick Summary:
In the ever-evolving power distribution landscape, the global busbar market is set to experience remarkable growth. Busbars, essentially strips of conductive materials, have emerged integral to electric power collection and distribution, owing to their cost-effective, reliable, and efficient features. By significantly simplifying power distribution and grounding electricity simultaneously, busbars have become synonymous with hassle-free and flexible power installation and distribution.
Buoyed by the increasing demand for consistent and reliable electricity in residential, commercial, and industrial sectors, the busbar market continues to advance. Likewise, concerns over non-renewable power sources have compelled industries to adopt energy-efficient systems, contributing to the growing demand for busbars globally. The market is further bolstered by the constant developments in power infrastructures and construction of new power generation plants. Government initiatives across the world are also prioritizing power infrastructure improvements to ensure enhanced electricity production and access, giving additional impetus to the busbar market's expansion. For any strategic decision-maker in the power industry, this report provides a comprehensive view of overall market trends and growth prospects, offering key insights for informed decision-making.
The global busbar market size reached US$ 17.9 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 23.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4.8% during 2023-2028.
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.
2. What is the expected growth rate of the global busbar market during 2023-2028?
3. What are the key factors driving the global busbar market?
4. What has been the impact of COVID-19 on the global busbar market?
5. What is the breakup of the global busbar market based on the power rating?
6. What is the breakup of the global busbar market based on the conductor?
7. What is the breakup of the global busbar market based on the end-user?
8. What is the breakup of the global busbar market based on the industry?
9. What are the key regions in the global busbar market?
10. Who are the key players/companies in the global busbar market?
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.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global busbar market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on power rating, conductor, end-user and industry.Breakup by Power Rating:
- High
- Medium
- Low
Breakup by Conductor:
- Copper
- Aluminium
Breakup by End-User:
- Industrial
- Commercial
- Residential
- Utilities
Breakup by Industry:
- Chemicals and Petroleum
- Metals and Mining
- Manufacturing
- Others
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 AG, ABB Group, Schneider Electric SE, Eaton Corporation, Inc., Legrand Pvt Ltd., General Electric Company, Mersen Corporate Services SAS, Rittal GmbH & Co. KG, CHINT Group Corporation, Power Products Unlimited, LLC, C&S Electric Ltd., Promet AG, ElvalHalcor SA, Littelfuse, Inc., Southwire Company, LLC and Oriental Copper Co. Ltd.Key Questions Answered in This Report
1. What was the size of the global busbar market in 2022?2. What is the expected growth rate of the global busbar market during 2023-2028?
3. What are the key factors driving the global busbar market?
4. What has been the impact of COVID-19 on the global busbar market?
5. What is the breakup of the global busbar market based on the power rating?
6. What is the breakup of the global busbar market based on the conductor?
7. What is the breakup of the global busbar market based on the end-user?
8. What is the breakup of the global busbar market based on the industry?
9. What are the key regions in the global busbar market?
10. Who are the key players/companies in the global busbar market?
Frequently Asked Questions about the Global Busbar Market
What is the estimated value of the Global Busbar Market?
What is the growth rate of the Global Busbar Market?
What is the forecasted size of the Global Busbar Market?
Who are the key companies in the Global Busbar Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 143 |
| Published | July 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 17.9 Billion |
| Forecasted Market Value ( USD | $ 23.8 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 16 |
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Busbar Market
6 Market Breakup by Power Rating
7 Market Breakup by Conductor
8 Market Breakup by End-User
9 Market Breakup by Industry
10 Market Breakup by Region
11 SWOT Analysis
13 Porter’s Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Siemens AG
- ABB Group
- Schneider Electric SE
- Eaton Corporation Inc.
- Legrand Pvt Ltd.
- General Electric Company
- Mersen Corporate Services SAS
- Rittal GmbH & Co. KG
- CHINT Group Corporation
- Power Products Unlimited LLC
- C&S Electric Ltd.
- Promet AG
- ElvalHalcor SA
- Littelfuse Inc.
- Southwire Company LLC
- Oriental Copper Co. Ltd.
Methodology
LOADING...
