Global Busbar Market Size, Share, Growth, Analysis, Opportunity and Forecast 2022-2027
According to IMARC Group’s latest report, titled “Busbar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, 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.
Busbar refers to a solid power-centric conductive metallic bar that gathers and distributes electricity within the system. It is manufactured using aluminum, copper, bronze, and other effective alloys that offer high conductivity at minimal energy loss during transmission. Busbar is affordable and easy to install, and it helps increase capacitance, eliminate wiring errors, and withstand high-temperature environments. Moreover, it assists in dissipating heat, offering mechanical strength, ensuring system protection, and connecting high-volt equipment at electrical switchyards or low-volt apparatus in battery assembly. Consequently, the busbar is installed inside switchgear, electric panel boards, and busway enclosures for power distribution.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Busbar Market Trends:
The need for efficient conductors for effective power distribution has facilitated the widespread incorporation of busbars in the power infrastructure sector, such as substations, transformers, and other transformation and distribution (T&D) equipment, which is primarily driving the market growth. Furthermore, the upcoming green city projects and the rising demand for uninterrupted power supply is supplementing the product demand over wired connectivity across residential, commercial, and industrial sectors. Moreover, the large-scale usage of busbars in the transportation industry to connect batteries to electrical components is propelling the market growth. Additionally, the rising environmental concerns have encouraged governments to utilize energy-efficient products, including busbars, as they are reusable and relocatable, which is favoring the market expansion. Besides this, the escalating consumer awareness regarding multiple benefits of busbar over cables, including security, reliability, eco-friendly, and reduced facility costs, is contributing to the market growth.
Busbar Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the global busbar market has also been examined along with the profiles of the key players.
Some of these key players include:
- 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
Key Market Segmentation:
The report has segmented the busbar market based on power rating, conductor, end-user, industry and region.
- 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
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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