Busbar Market Size, Share, Growth and Forecast 2020-2025

Press Release:

Global Busbar Market to Reach US$ 20.9 Billion by 2025, Propelled by Upgradation of Power Infrastructure

*As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Busbar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

The global busbar market reached a value of US$ 15.1 Billion in 2019. 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.

Global Busbar Market

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 renewable sources of energy such as solar and wind energy which is further expected to increase the 2020-2025.

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.

Key Questions Answered in This Report:

How has the global busbar market performed so far and how will it perform in the coming years?
What are the key regional markets in the global busbar industry?
What is the breakup of the market based on the power rating?
What is the breakup of the market based on the conductor?
What is the breakup of the market based on the end-user?
What is the breakup of the market based on the industry?
What are the various stages in the value chain of the global busbar industry?
What are the key driving factors and challenges in the global busbar industry?
What is the structure of the global busbar industry and who are the key players?
What is the degree of competition in the global busbar industry?