Busbar Market Share to be Double During Forecast Year 2020-2030
Market Overview
A busbar is a thin metal strip or bar composed of aluminum or copper. Busbar is an excellent conductor of electric current that is used for power distribution in switchgear, electric panel boards, and busway enclosures. They're frequently used to link high-voltage equipment at electrical switchyards and low-voltage equipment in battery assemblies. Busbar has the ability to withstand high temperatures, have high mechanical strength, and dissipate heat. The busbar transmits energy inside a switchboard, distribution board, substation, battery bank, or other electrical equipment. Large quantities of power are transported over short distances using busbars. Corona discharge losses are reduced due to their increased surface area. Busbars aren't often thought of as structural components. The material composition and cross-sectional dimensions of the busbar define the maximum amount of current that may be safely carried.
Market Highlights
Busbar market is expected to project a notable CAGR of 5.62% in 2031
Busbar market to surpass USD 28.45 billion by 2031 from USD 16.47 billion in 2021 at a CAGR of 5.62% in the coming years, i.e., 2022-31. Growing energy consumption due to industrialization and urbanization, increasing focus on energy efficiency, and cost & operational benefits of busbar over cables are the major factors driving the market.
Busbar market: Segments
segment to grow with the highest CAGR during 2021-31
Busbar market is segmented by Material Type into aluminum, copper, and brass. Copper dominates the market in terms of revenue owing to high price of raw materials. Aluminum is expected to grow at a higher CAGR during the forecast period. Aluminum has high conductivity and efficiency. It is 70% lighter than copper making it preferable by the end-users. In addition, the loss of energy during the transmission is also lower in comparison to other materials, which results in increased demand for aluminum.
SMEs segment to grow with the highest CAGR during 2021-31
Busbar market is segmented by Application into Industrial, Commercial and Residential. By holding a significant market share in terms of sales, the industrial segment dominated the market. The commercial segment, on the other hand, is expected to grow at a faster rate due to smart and green city concepts. The commercial sector is quickly replacing traditional cables with busbars because they are simple to install and save space. Busbars are used in a variety of commercial settings, including buildings, corporate offices, department stores, shopping malls, offices, and banks.
Busbar Market: Key Players
Siemens AG
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
ABB Ltd.
Schneider Electric SE
Eaton Corporation Plc.
Rogers Corporation
TE Connectivity Ltd.
Legrand S.A.
Friedhelm Loh Group
Mersen S.A.
Chint Group
Busbar market: Regions
Busbar market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. The busbar market is predicted to develop at the fastest rate in Asia Pacific. As a result of urbanization and industrial expansion in this area, the Asia Pacific Busbar market will be driven by an increasing focus on energy efficiency and rising energy consumption. Due to massive investments in smart cities, green development, high-rise structures, and transit infrastructure, particularly in Southeast Asia, the Asia Pacific region has the largest market for busbar trucking. Rising electricity demand, industrialization, and urbanization, as well as rapid growth in countries' business sectors, are all key drivers.
Segmentation
By Material Type
Aluminum
Copper
Brass
By Power Rating
Low Power
Medium Power
High Power
By Application
Industrial
Commercial
Residential
Busbar Market Dynamics
Busbar Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
A busbar is a thin metal strip or bar composed of aluminum or copper. Busbar is an excellent conductor of electric current that is used for power distribution in switchgear, electric panel boards, and busway enclosures. They're frequently used to link high-voltage equipment at electrical switchyards and low-voltage equipment in battery assemblies. Busbar has the ability to withstand high temperatures, have high mechanical strength, and dissipate heat. The busbar transmits energy inside a switchboard, distribution board, substation, battery bank, or other electrical equipment. Large quantities of power are transported over short distances using busbars. Corona discharge losses are reduced due to their increased surface area. Busbars aren't often thought of as structural components. The material composition and cross-sectional dimensions of the busbar define the maximum amount of current that may be safely carried.
Market Highlights
Busbar market is expected to project a notable CAGR of 5.62% in 2031
Busbar market to surpass USD 28.45 billion by 2031 from USD 16.47 billion in 2021 at a CAGR of 5.62% in the coming years, i.e., 2022-31. Growing energy consumption due to industrialization and urbanization, increasing focus on energy efficiency, and cost & operational benefits of busbar over cables are the major factors driving the market.
Busbar market: Segments
segment to grow with the highest CAGR during 2021-31
Busbar market is segmented by Material Type into aluminum, copper, and brass. Copper dominates the market in terms of revenue owing to high price of raw materials. Aluminum is expected to grow at a higher CAGR during the forecast period. Aluminum has high conductivity and efficiency. It is 70% lighter than copper making it preferable by the end-users. In addition, the loss of energy during the transmission is also lower in comparison to other materials, which results in increased demand for aluminum.
SMEs segment to grow with the highest CAGR during 2021-31
Busbar market is segmented by Application into Industrial, Commercial and Residential. By holding a significant market share in terms of sales, the industrial segment dominated the market. The commercial segment, on the other hand, is expected to grow at a faster rate due to smart and green city concepts. The commercial sector is quickly replacing traditional cables with busbars because they are simple to install and save space. Busbars are used in a variety of commercial settings, including buildings, corporate offices, department stores, shopping malls, offices, and banks.
Busbar Market: Key Players
Siemens AG
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
ABB Ltd.
Schneider Electric SE
Eaton Corporation Plc.
Rogers Corporation
TE Connectivity Ltd.
Legrand S.A.
Friedhelm Loh Group
Mersen S.A.
Chint Group
Busbar market: Regions
Busbar market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. The busbar market is predicted to develop at the fastest rate in Asia Pacific. As a result of urbanization and industrial expansion in this area, the Asia Pacific Busbar market will be driven by an increasing focus on energy efficiency and rising energy consumption. Due to massive investments in smart cities, green development, high-rise structures, and transit infrastructure, particularly in Southeast Asia, the Asia Pacific region has the largest market for busbar trucking. Rising electricity demand, industrialization, and urbanization, as well as rapid growth in countries' business sectors, are all key drivers.
Segmentation
By Material Type
Aluminum
Copper
Brass
By Power Rating
Low Power
Medium Power
High Power
By Application
Industrial
Commercial
Residential
Busbar Market Dynamics
Busbar Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
1. EXECUTIVE SUMMARY
2. BUSBAR MARKET
2.1. Product Overview
2.2. Market Definition
2.3. Segmentation
2.4. Assumptions and Acronyms
3. RESEARCH METHODOLOGY
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
3.5. Market Size Estimation
4. AVERAGE PRICING ANALYSIS
5. MACRO-ECONOMIC INDICATORS
6. MARKET DYNAMICS
6.1. Growth Drivers
6.2. Restraints
6.3. Opportunity
6.4. Trends
7. CORRELATION & REGRESSION ANALYSIS
7.1. Correlation Matrix
7.2. Regression Matrix
8. RECENT DEVELOPMENT, POLICIES & REGULATORY LANDSCAPE
9. RISK ANALYSIS
9.1. Demand Risk Analysis
9.2. Supply Risk Analysis
10. BUSBAR MARKET ANALYSIS
10.1. Porters Five Forces
10.1.1. Threat of New Entrants
10.1.2. Bargaining Power of Suppliers
10.1.3. Threat of Substitutes
10.1.4. Rivalry
10.2. PEST Analysis
10.2.1. Political
10.2.2. Economic
10.2.3. Social
10.2.4. Technological
11. BUSBAR MARKET
11.1. Market Size & forecast, 2020A-2030F
11.1.1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
11.1.2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12. BUSBAR MARKET: MARKET SEGMENTATION
12.1. By Regions
12.1.1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.2. Europe: (Germany, UK, France, Italy, Spain, and Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.3. Asia-Pacific: (China, India, Japan, Australia and Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.4. Latin America: (Brazil, Mexico, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.5. Middle East and Africa, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2. By Material Type: Market Share (2020-2030F)
12.2.1. Aluminum, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.2. Copper, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.3. Brass, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3. By Power Rating: Market Share (2020-2030F)
12.3.1. Low Power, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.2. Medium Power, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.3. High Power, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4. By Application: Market Share (2020-2030F)
12.4.1. Industrial, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4.2. Commercial, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4.3. Residential, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
13. COMPANY PROFILE
13.1. Siemens AG
13.1.1. Company Overview
13.1.2. Company Total Revenue (Financials)
13.1.3. Market Potential
13.1.4. Global Presence
13.1.5. Key Performance Indicators
13.1.6. SWOT Analysis
13.1.7. Product Launch
13.2. ABB Ltd.
13.3. Schneider Electric SE
13.4. Eaton Corporation Plc.
13.5. Rogers Corporation
13.6. TE Connectivity Ltd.
13.7. Legrand S.A.
13.8. Friedhelm Loh Group
13.9. Mersen S.A.
13.10. Chint Group
Consultant Recommendation
**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.
2. BUSBAR MARKET
2.1. Product Overview
2.2. Market Definition
2.3. Segmentation
2.4. Assumptions and Acronyms
3. RESEARCH METHODOLOGY
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
3.5. Market Size Estimation
4. AVERAGE PRICING ANALYSIS
5. MACRO-ECONOMIC INDICATORS
6. MARKET DYNAMICS
6.1. Growth Drivers
6.2. Restraints
6.3. Opportunity
6.4. Trends
7. CORRELATION & REGRESSION ANALYSIS
7.1. Correlation Matrix
7.2. Regression Matrix
8. RECENT DEVELOPMENT, POLICIES & REGULATORY LANDSCAPE
9. RISK ANALYSIS
9.1. Demand Risk Analysis
9.2. Supply Risk Analysis
10. BUSBAR MARKET ANALYSIS
10.1. Porters Five Forces
10.1.1. Threat of New Entrants
10.1.2. Bargaining Power of Suppliers
10.1.3. Threat of Substitutes
10.1.4. Rivalry
10.2. PEST Analysis
10.2.1. Political
10.2.2. Economic
10.2.3. Social
10.2.4. Technological
11. BUSBAR MARKET
11.1. Market Size & forecast, 2020A-2030F
11.1.1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
11.1.2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12. BUSBAR MARKET: MARKET SEGMENTATION
12.1. By Regions
12.1.1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.2. Europe: (Germany, UK, France, Italy, Spain, and Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.3. Asia-Pacific: (China, India, Japan, Australia and Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.4. Latin America: (Brazil, Mexico, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.5. Middle East and Africa, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2. By Material Type: Market Share (2020-2030F)
12.2.1. Aluminum, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.2. Copper, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.3. Brass, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3. By Power Rating: Market Share (2020-2030F)
12.3.1. Low Power, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.2. Medium Power, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.3. High Power, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4. By Application: Market Share (2020-2030F)
12.4.1. Industrial, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4.2. Commercial, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4.3. Residential, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
13. COMPANY PROFILE
13.1. Siemens AG
13.1.1. Company Overview
13.1.2. Company Total Revenue (Financials)
13.1.3. Market Potential
13.1.4. Global Presence
13.1.5. Key Performance Indicators
13.1.6. SWOT Analysis
13.1.7. Product Launch
13.2. ABB Ltd.
13.3. Schneider Electric SE
13.4. Eaton Corporation Plc.
13.5. Rogers Corporation
13.6. TE Connectivity Ltd.
13.7. Legrand S.A.
13.8. Friedhelm Loh Group
13.9. Mersen S.A.
13.10. Chint Group
Consultant Recommendation
**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.
