Comprehensive Study on Busbar Market? Know all the trends, analysis and forecasts

The busbar market is expected to grow from an estimated USD 12.68 Billion in 2016 to USD 16.55 Billion by 2021, registering a CAGR of 5.48% from 2016 to 2021. The global market is witnessing significant growth because of energy consumption due to urbanization & industrialization, increasing focus on energy efficiency, and cost & operational benefits of busbar over cables.

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Market Ecosystem:

The ecosystem of the global busbar market starts with suppliers of basic components such as copper, aluminum, or alloy material. The manufactured parts are then assembled by the OEM (original equipment manufacturer) to form a busbar, which is then tested. This stage is followed by the distribution stage, following which the product is provided to the end-users. Distribution is the next stage of the supply chain. The top players in the industry market their products through self-operated sales offices located near target markets, while regional players rely on distribution partnerships to access diverse markets. Some of the major players in the market are ABB LTD. (Switzerland), Schneider Electric (France), Siemens AG (Germany), Eaton Corporation plc. (Ireland), and Legrand S.A. (France), among others.

Utilities segment is expected to hold the largest share of the busbar market, by end-use industry, during the forecast period

The utilities industry led the overall busbar market in 2015. Busbar are vital components in power generation plants, as well as in transmission and distribution substations, where they find application in distribution boards, switchgears, motor controls, and transformers among others. Busbar are used as reliable replacement of cables due to high efficiency, low space requirements, and ease of installation.

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Low power busbar are expected to hold the largest market share, by power rating, during the forecast period

The low power busbar segment is expected to hold the largest market of the global busbar market during the forecast period. The demand for low power busbar is suitable for supplying power to light fixtures for commercial and industrial segments. They can be installed both in false ceilings and in technical floors. They are widely used in distribution panels and switchboards across utilities, industries, and for residential applications, thus giving it a wider market coverage compared to medium and high power busbar.

Market Dynamics

Drivers

• Growing Energy Consumption Due to Industrialization & Urbanization
• Increasing Focus on Energy Efficiency
• Cost & Operational Benefits of Busbar

Restraints

• Emerging Grey/Unorganized Market Providing Low-Quality & Low Priced Products

Opportunities

• Development of Smart Cities
• Power Sector Reforms Leading to Upgrade of T&D Networks

Challenges

• Volatility of Raw Material Prices, Especially Copper

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Asia-Pacific is the fastest growing market for busbar

In this report, the busbar market has been analyzed with respect to five regions, namely, North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. Asia-Pacific is expected to be the fastest growing market for busbar. Increasing focus on energy efficiency and growing energy consumption due to urbanization and industrialization in the region will drive the Asia-Pacific busbar market from 2016 to 2021.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.