
Busbar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Description
Busbar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:
The global busbar market size reached US$ 17.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 23.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4.8% during 2023-2028.
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.
Key Market Segmentation:
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 2023-2028. Our report has categorized the market based on power rating, conductor, end-user and industry.
Breakup by Power Rating:
High
Medium
Low
Breakup by Conductor:
Copper
Aluminium
Breakup by End-User:
Industrial
Commercial
Residential
Utilities
Breakup by Industry:
Chemicals and Petroleum
Metals and Mining
Manufacturing
Others
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 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.
Key Questions Answered in This Report
1. What was the size of the global busbar market in 2022?
2. What is the expected growth rate of the global busbar market during 2023-2028?
3. What are the key factors driving the global busbar market?
4. What has been the impact of COVID-19 on the global busbar market?
5. What is the breakup of the global busbar market based on the power rating?
6. What is the breakup of the global busbar market based on the conductor?
7. What is the breakup of the global busbar market based on the end-user?
8. What is the breakup of the global busbar market based on the industry?
9. What are the key regions in the global busbar market?
10. Who are the key players/companies in the global busbar market?
Table of Contents
143 Pages
- 1 Preface
- 2 Scope and Methodology
- 2.1Objectives of the Study
- 2.2Stakeholders
- 2.3Data Sources
- 2.3.1Primary Sources
- 2.3.2Secondary Sources
- 2.4Market Estimation
- 2.4.1Bottom-Up Approach
- 2.4.2Top-Down Approach
- 2.5Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1Overview
- 4.2Key Industry Trends
- 5 Global Busbar Market
- 5.1Market Overview
- 5.2Market Performance
- 5.3Impact of COVID-19
- 5.4Market Breakup by Power Rating
- 5.5Market Breakup by Conductor
- 5.6Market Breakup by End-User
- 5.7Market Breakup by Industry
- 5.8Market Breakup by Region
- 5.9Market Forecast
- 6 Market Breakup by Power Rating
- 6.1High
- 6.1.1Market Trends
- 6.1.2Market Forecast
- 6.2Medium
- 6.2.1Market Trends
- 6.2.2Market Forecast
- 6.3Low
- 6.3.1Market Trends
- 6.3.2Market Forecast
- 7 Market Breakup by Conductor
- 7.1Copper
- 7.1.1Market Trends
- 7.1.2Market Forecast
- 7.2Aluminium
- 7.2.1Market Trends
- 7.2.2Market Forecast
- 8 Market Breakup by End-User
- 8.1Industrial
- 8.1.1Market Trends
- 8.1.2Market Forecast
- 8.2Commercial
- 8.2.1Market Trends
- 8.2.2Market Forecast
- 8.3Residential
- 8.3.1Market Trends
- 8.3.2Market Forecast
- 8.4Utilities
- 8.4.1Market Trends
- 8.4.2Market Forecast
- 9 Market Breakup by Industry
- 9.1Chemicals and Petroleum
- 9.1.1Market Trends
- 9.1.2Market Forecast
- 9.2Metals and Mining
- 9.2.1Market Trends
- 9.2.2Market Forecast
- 9.3Manufacturing
- 9.3.1Market Trends
- 9.3.2Market Forecast
- 9.4Others
- 9.4.1Market Trends
- 9.4.2Market Forecast
- 10 Market Breakup by Region
- 10.1Asia Pacific
- 10.1.1 Market Trends
- 10.1.2 Market Forecast
- 10.2North America
- 10.2.1 Market Trends
- 10.2.2 Market Forecast
- 10.3Europe
- 10.3.1 Market Trends
- 10.3.2 Market Forecast
- 10.4Middle East and Africa
- 10.4.1 Market Trends
- 10.4.2 Market Forecast
- 10.5Latin America
- 10.5.1 Market Trends
- 10.5.2 Market Forecast
- 11 SWOT Analysis
- 11.1Overview
- 11.2Strengths
- 11.3Weaknesses
- 11.4Opportunities
- 11.5Threats
- 12 Value Chain Analysis
- 13 Porter’s Five Forces Analysis
- 13.1Overview
- 13.2Bargaining Power of Buyers
- 13.3Bargaining Power of Suppliers
- 13.4Degree of Competition
- 13.5Threat of New Entrants
- 13.6Threat of Substitutes
- 14 Price Analysis
- 15 Competitive Landscape
- 15.1Market Structure
- 15.2Key Players
- 15.3Profiles of Key Players
- 15.3.1Siemens AG
- 15.3.2ABB Group
- 15.3.3Schneider Electric SE
- 15.3.4Eaton Corporation Inc.
- 15.3.5Legrand Pvt Ltd.
- 15.3.6General Electric Company
- 15.3.7Mersen Corporate Services SAS
- 15.3.8Rittal GmbH & Co. KG
- 15.3.9CHINT Group Corporation
- 15.3.10 Power Products Unlimited, LLC
- 15.3.11 C&S Electric Ltd.
- 15.3.12 Promet AG
- 15.3.13 ElvalHalcor SA
- 15.3.14 Littelfuse, Inc.
- 15.3.15 Southwire Company, LLC
- 15.3.16 Oriental Copper Co. Ltd.
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