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The global busbar market size reached US$ 17 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 22.8 Billion by 2027, exhibiting a growth rate (CAGR) of 4.9% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
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.
IMARC Group 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 2022-2027. Our report has categorized the market based on power rating, conductor, end-user and industry.
Breakup by Power Rating:
Breakup by Conductor:
Breakup by End-User:
Breakup by Industry:
Breakup by Region:
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.
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Billion |
| Segment Coverage | Power Rating, Conductor, End-User, Industry, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Companies Covered | 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. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global busbar market was valued at US$ 17 Billion in 2021.
We expect the global busbar market to exhibit a CAGR of 4.9% during 2022-2027.
The rising demand for uninterrupted and reliable power supply across the residential, commercial, and
industrial sectors is primarily driving the global busbar market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown
regulations across several nations resulting in the temporary halt in numerous construction activities for
new power infrastructures, thereby limiting the demand for busbar.
Based on the power rating, the global busbar market has been segmented into high, medium, and low.
Currently, low power rated busbar accounts for the majority of the total market share.
Based on the conductor, the global busbar market can be categorized into copper and aluminum, where
copper currently exhibits a clear dominance in the market.
Based on the end-user, the global busbar market has been divided into industrial, commercial,
residential, and utilities. Currently, utilities segment holds the majority of the global market share.
Based on the industry, the global busbar market can be bifurcated into chemicals and petroleum, metals
and mining, manufacturing, and others. Among these, the chemicals and petroleum sector currently
accounts for the largest market share.
On a regional level, the market has been classified into Asia Pacific, North America, Europe, Middle East
and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global busbar market include 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.
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