"Increasing Energy Requirement Due to Industrialization & Urbanization Ensure Rapid Growth for Busbar Market"

Globally, the Busbar market is expected to grow with a CAGR of 7.0% during the forecast period from 2019 to 2027, starting from 2018 with a market value of US$ 18.50 Bn. Busbar are metallic strips which are made of copper, aluminum or brass, these strips can either conduct or ground the electricity. The busbar makes the complex power distribution flexible, easier and less expensive as compare to the traditional way. The increasing demand of electricity in industrial and urban areas are driving the busbar market due to their capability to distribute the electricity efficiently and saves cost for the distribution. Moreover, the busbars are also easy to install and their ability to remove, add or relocate the power easily without causing any downtime during the functioning also drives the market.

"Busbar With Low Power Busbar in its Power Rating Segment Continue Dominating the Market"

In 2018, the global busbar market was led by the low power busbar in its power-rating segment contributing to a high percent of market share of the total revenue generated globally.  The demand of light power busbar is increasing among the commercial and industrial segments due to their capability of offering power to light fixtures. These are majorly used in the switchboard and panels. The low power busbar is has a major application in residential, utilities and industrial application making it the dominating sector.

"North America Dominates the Market by Region"

Busbar market is led by North America due to the presence of various key players present in the region and requirement of electricity in the manufacturing industries, residential and commercial users. Additionally, the bus bars are also becoming common among hospitals, commercial complexes, research centers and hotels which drives the demand of busbars market in the region. Bus bar reduces the power loss as compare to the cables making it a useful product for power distribution. However, Asia-Pacific region is expected to be the fastest growing market due to rapid urbanization.

Some of the prominent players operating in the Busbar market include Schneider Electric SE,  ABB Ltd, Siemens AG, Legrand S.A.,  C &S Electric Company, Rittal GMBH & CO.KG., Eaton Corporation plc,  CHINT Electric Co.Ltd, Naxso S.R.L, Graziadio & C. S.P.A., Mersen S.A.,  ARJ Group, and Nova Ltd.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Busbar market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Busbar market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Busbar market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Busbar market?
• Which is the largest regional market for Busbar market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Busbar market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Busbar market worldwide?