Global Industrial Motor Busbar Market 2018-2022
About Industrial Motor Busbar
Busbars are metallic strips made of copper or aluminum, which can conduct electricity and are used for power distribution. Industrial motor busbars are mainly used in motor control centers for supplying the power to motor protection devices such as soft starters, contactors, and drive systems.
Technavio’s analysts forecast the global industrial motor busbar market to grow at a CAGR of 4.52% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial motor busbar market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of industrial motor busbar.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Motor Busbar Market 2018-2022
Technavio recognizes the following companies as the key players in the global industrial motor busbar market: ABB, Eaton, General Electric, Schneider Electric, Siemens, and Legrand.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growing need for power monitoring. As power utilization cost in the process and discrete industries is high, monitoring the power consumption is very essential. The increasing regulations regarding the installation of energy-efficient products have reduced energy consumption considerably. Power monitoring helps industrial manufacturers set the baseline and take necessary steps to reduce power consumption, thereby reducing the potential cost of power. Standalone devices for power monitoring can be mounted on motor control centers and busbars to fetch the data regarding the total power consumption. This data helps in making energy-efficient decisions and reduce the overall power consumptions.”
According to the report, one of the major drivers for this market is Increasing preference for busbars over cables. As motor control centers and motor controllers have various arrangements of devices such as soft starters, contactors, circuit breakers, and drive systems; using wires increases the space requirement and adds to the weight of the overall motor control center. Moreover, wire systems often complicate the connection of motor starters and other protection devices. With the increasing focus toward uninterrupted power supply and maximum space utilization, motor busbars are used in motor control centers.
Further, the report states that one of the major factors hindering the growth of this market is High fluctuations in copper and aluminum prices. The primary raw materials that constitute an industrial motor busbar are copper and aluminum. All motor busbar vendors incur a major share of their manufacturing cost for acquiring these raw materials. The total cost of copper and aluminum metals account for roughly 50% of the total production cost.
ABB, Eaton, General Electric, Schneider Electric, Siemens, and Legrand.