The global busbar market is expected to register growth over the forecast period. Higher concerns regarding energy efficiency with preference for busbars over cables due to their low cost are the factors expected to drive the market size. Integration of wind power technology in global power generation mix coupled with emergence of smart & green cities are the key factors that will boost the growth of market size.
Busbar consists of a strip of conductor made of aluminum or copper, supported by insulators that can connect the electrical loads and power supply in an integrated electrical network. It has a range of applications majorly in switchgears, distribution panels, switchboards, and any establishments that require the consumption of electric power.
The busbar conducts electricity within a switchboard, distribution board, substation, battery bank, or the other electrical apparatus. Busbars are used to carry substantial electric currents over relatively short distances. Their greater surface area reduces losses due to corona discharge. Busbars are not normally structural members. The material composition and cross-sectional size of the busbar determine the maximum amount of current that can be safely carried.
Busbar Market Size By Conductor: Aluminum, Copper
Busbar Market Size By End-Users: Utilities, Residential, Commercial, Industrial End-Users, Chemicals & Petroleum, Metals & Mining, Manufacturing, Others
The “Utilities” industry led the overall busbar market size in 2015. Busbars are vital in power generation plants, also in transmission and distribution substations, where they find applications in distribution borders, switchgears, motor controls, and transformers among others.
Busbar Market Size By Power Rating: Low Power (Below 125 A), Medium Power (125 A-800 A), High Power (Above 800 A)
The low power busbar segment is expected to hold the largest market of the global busbar market during the forecast period. The demand for low power busbar is suitable for supplying power to light fixtures for commercial and industrial segments. They can be both in false ceilings and technical floors. They are widely used in distribution panels and switchboards across utilities, industries, and residential applications; thus giving them wider market coverage as compared to medium and high power busbar.
Busbar Market By Geographical Region: North America, Europe, Asia Pacific, South America, and Middle East & Africa
Asia Pacific is expected to be the fastest growing market for the busbar market. Increasing focus on energy efficiency and growing energy consumption due to urbanization and industrial growth in this region is high; which will drive the Asia Pacific Busbar market from 2014 to 2025.
The Asia Pacific region holds the largest market for busbar trucking system; driven by huge investments in smart cities, green constructions, high rise buildings, and transportation infrastructure; especially in the South East Asian region. The other major factors include increasing power demand industrialization and urbanization, and rapid development in the commercial sector in countries such as China, India, Japan, and South Korea.
The Key Players include ABB Ltd, Schneider Electric, Siemens AG, Eaton Corporation plc, Legrand S.A., C &S Electric Company, Eaton Corporation, Mersen S.A., Schneider Electric SE, CHINT Electric Co.Ltd, and Rittal GMBH & CO.KG.
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