Press release
Busbar Market Overview: Powering Safe & Efficient Electrical Distribution
A busbar is a conductive material, typically made of copper or aluminum, that serves as a central point for the distribution of electrical power in an electrical system. It is used to connect multiple circuits, allowing for the efficient transfer of electricity between different components, such as generators, transformers, and load devices.
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Canada is projected to grow at the highest CAGR of approximately 8%, in terms of revenue, during the forecast period
Asia-pacific market garnered the largest busbar market share. China dominated the market in the region while India is expected to grow at the fastest rate owing to increasing investment in the country in the market.
The key players in busbar industry are Siemens AG, ABB Ltd., Schneider Electric SE, Eaton Corporation Plc., Rogers Corporation, TE Connectivity Ltd., Legrand S.A., Friedhelm Loh Group, Mersen S.A., and Chint Group.
By application, the commercial segment is anticipated to grow with CAGR 6.8%, in terms of revenue, during the forecast period
North America is expected to grow at higher pace owing to large concentration of manufacturer in the region. U.S. dominated the busbar market share followed by Canada.
China and U.S. dominated the busbar market growth with a revenue share of over 32.6% and 16.8% in 2018
Copper segment dominated the market but aluminum is expected to grow rapidly during the forecast period. The application covered in the study are industrial, commercial and residential. Industrial segment garnered the highest share.
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The need for efficient conductor and lower energy loss during transmission has replaced the conventional methods of power distribution by busbar made from metals driving busbar market growth. Moreover, green city concepts are boosting market growth.
In-addition, the wind power generation & distribution industry is experiencing a surge which results in high demand for busbars, hence driving the busbar market growth.
Busbar is a metallic strip that distributes power in a system. It is made from metals such as aluminum, copper, bronze, or other efficient alloys.
It offers high conductivity and low energy loss during transmission resulting into their wide adoption in many industries.
It is fully or partly insulated for protection from accidental human touch. It is commonly found enclosed in switchgears, panel boards, switch panels, and busway enclosures and can endure high temperature environment and possess great mechanical strength.
A comprehensive analysis of the factors that drive and restrain the market growth is provided
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The qualitative data in this report aims at the busbar market trends, dynamics, and developments in the busbar industry
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