July 16,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Busbar Market.
Busbar Market is likely to witness an impressive CAGR of 5.5% during the forecast period. Growing investments aimed at establishing effective power supply network, busbar’s ability to provide high voltage power in building structures without occupying any additional space, rising demand for reliable and continuous electricity supply mixed with increasing focus to minimize energy losses across transmission and distribution are some of the major factors driving the market growth during the forecast period.
Busbar is a metallic strip or electrical bar used to distribute power with flexibility and greater ease to multiple circuits in parallel.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the material type, the market is segmented as copper and aluminum. Copper busbar is projected to witness strong growth rate in the market owing to its ability to transmit large currents with minimal losses and high resistivity. In addition, features such as longer lifespan, higher conductivity, advanced security features and high threshold from damage will further fuel the product demand in the market. Copper busbar is further categorized as electrolytic tough pitch and oxygen free. On the other hand, the aluminum busbar market is expected to be positively influenced by its lightweight and high mechanical strength features.
Based on the power range type, the market is segmented as low, medium, and high. High power is anticipated to be the leading segment of the market owing to the ongoing trend of modernization of ultra-high transmission lines to reduce line losses and suffice electricity demand. Lower sagging and effective supply features over long routes will further fuel the segment growth over the forecast period. The low power busbar market growth to be driven by its ability to distribute power efficiently to light fixture in industrial as well as commercial sector.
Based on the application type, the market is segmented as commercial, residential and industrial. The commercial segment to witness significant growth during the forecast period owing to the rising electricity demand due to rapid urbanization. On the other hand, the industrial busbar segment is estimated to be positively influenced by strong economic growth, growing foreign direct investments toward electricity distribution & generation accompanied with rising public and private funding in development of infrastructure during the forecast period.
In terms of regions, Asia-Pacific is estimated to be the leading region in the market owing to rising investments aimed at modernization and expansion of grid coupled with increased efforts to avoid the electricity supply & demand mismatch. China and India are the growth engines of the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Key Players:
• Godrej & Boyce Mfg. Co. Ltd.
• Halcor
• Littlefuse
• MERSEN
• Methode Electronics
• Oriental Copper Co., Ltd.
• Pentair
• Rittal
• Schneider Electric
• Southwire Company, LLC.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Busbar Market analysis report discusses the following heads in great detail:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors