Busbars Market: Opportunities, Emerging Trends, Competitive Strategies and Forecasts 2018-2028
The competitive landscape analysis concludes the key developmental strategies of leading players in busbars market - production facility expansion, new product launch, and strategic collaborations and acquisitions are among the most prominent strategy preferences among market leaders.
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Key Push Factors Driving Busbars Market Revenue at a Global Level, According to FMI
• Favorable regulatory standards for eco-design reforms play a complementary role in fostering busbars market revenue.
• In addition to increasing consumption of energy, growing concerns regarding loss of transmission and distribution are pushing revenue growth prospects for busbars.
• With a strengthening smart cities concept, the growing demand for high energy efficiency of the electric infrastructure is compelling installers and utilities to prioritize energy efficiency.
Regional Analysis of Busbars Landscape: Opportunistic Spotlight Gradually Shifts to Developing Economies in SEAP & MEA
• With constantly increasing investments in upgrading and replacement of existing electrical grid networks, Canadian busbars market is witnessing steady progress – pushing the growth of North America’s busbars landscape.
• Western Europe also represents an important market for busbars manufacturers.
• The busbars market in South East Asia and the rest of Asia Pacific particularly receive an impetus from the ever-growing demand for a reliable electricity distribution framework for both urban as well as rural areas across all the economies – especially in ASEAN countries.
• With growing initiatives of governments and private entities towards installation of transmission and distribution networks, the SEAP region expects an upsizing revenue through busbars.
• MEA’s busbars landscape on the other side is witnessing a strong push with the massive power plant and transmission network project announced in Saudi Arabia (2017).
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Functional Versatility Continues to Earn around 75% Revenue Share for Copper Busbars
• Conductor type assessment of busbars landscape reveals that more than 3/4th share of the total market value belongs to copper at present.
• Copper busbars contribute the lion’s share in market growth due to superior thermal conductivity, corrosion resistance, and dependable service life.
• The functional versatility of copper busbars allow their usage in an exhaustive range of configurations as well as across each floor of multi-storied buildings.
• Adoption of copper busbars by electrical equipment manufacturers also plays a key role in strengthening their revenue share in the market.
• However, according to the study, it is more likely that copper busbars will be outpaced by aluminum in the next couple of years.
• In 2019, both the types of conductor types - aluminum and copper - will exhibit a similar year on year performance in terms of revenue growth.
• In the long run, aluminum owing to its lightweight attributes is likely to observe healthier rate of adoption on a yearly basis.
Medium & High Power Rating Gather Momentum in Busbars Market
• According to the busbars market analysis by power rating, high and medium power busbars currently account for a collective revenue share of nearly 50% that will exceed the valuation worth US$ 7 Bn by the end of 2019.
• The busbars market report is a separate section includes the end user analysis that uncovers steady growth prospects for residential sector, at over 4% consistent year on year revenue growth post 2019.
• While this growth is attributed to the dramatically thriving residential construction projects worldwide, FMI recognizes the potential decline in the revenue share of industrial sector.
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