According to Stratistics MRC, the Global Busbar Market is valued at $12.81 billion in 2016 and is expected to reach $18.24 billion by 2022 growing at a CAGR of 6.1% from 2016 to 2022. The key factors that are driving the market growth include increasing focus on energy efficiency, increasing demand from transportation industry, operational and cost benefits of busbar, expansion of power infrastructure and rising energy consumption due to rapid industrialization & urbanization. However, volatility in raw material prices and competition from low-cost vendors are the major restraining factors that hinder the growth of the market. Moreover, development of smart cities, rising solar power capacity and growth in HVDC transmission market in coming years would be significant growth opportunities for the market.
The low power busbar segment is estimated to account for the largest share in the global busbar market throughout the forecast period owing to its usage in distribution panels and switchboards across utilities, residential and industrial applications. Asia Pacific is expected to grasp major revenue share in busbar market due to swiftly increasing focus on energy efficiency, and rising energy consumption due to industrialization and urbanization. Huge investments in smart cities, transportation infrastructure and green constructions in emerging countries such as China and India are expected to drive busbar market in APAC region.
Some of the key players in the market include ABB Ltd., C&S Electric Company, Chint Electrics Co. Ltd., Eaton Corporation Plc., General Electric, Legrand S.A., Mersen S.A., Power Products LLC., Promet AG, Rittal GMBH & Co. KG, Schneider Electric SE, Siemens AG and TE Connectivity Ltd.
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Power Ratings Covered:
• Medium Power
• High Power
• Low Power
o Chemicals & Petroleum
o Metals & Mining
o Other Industries
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• Rest of the World
o Middle East
o South Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 6 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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