Global Busbar Market size for 2016 was valued over USD 13 billion and is predicted to surpass 4 million tons by 2024

Increasing demand for uninterruptable and reliable supply of electricity along with rising concern to reduce energy losses across transmission and distribution lines will fuel the busbar market size. Growing investments toward construction and infrastructure establishment along with rapid urbanization are some of the key parameter propelling the electricity demand across the globe.

Ongoing investments toward modernization and renovation of existing transmission networks along with growing adoption of smart grid technology will positively influence the busbar market size. Ability to reduce hassle of wires, transmit bulk power over long distances, flexibility of tap-off locations, less heat dissipation and trifling fire risks will make its adoption preferable.
Technological advancement in the structural integrity of conductor to improve efficiency, maintain electrical flow, reduce installation time and complexity will stimulate the busbar market share. Volatile raw material price may act as industry restraint.

Resilience to higher temperatures, resistance to damage, high conductivity, long lifespan and provision of extra security during occurrence of short circuit are some of the key parameters which will foster the copper busbar market share. These materials are suitable for low power applications areas including educational institutes and computer suites.

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Low power (≤ 600V) in 2016, accounted for over 25% of global busbar market share. Ability to distribute power to light fixture across industrial and commercial establishments will stimulate the product adoption. It finds wide application in switchboard and distribution panels across residential, industrial and utilities applications. These products can be installed in technical floors and false ceiling. Shift in trends toward integration of energy efficient solution into green building infrastructure will further complement the industry growth.

Refurbishment and renovation of ultra-high transmission lines to reduce transmission losses will propel the high-power busbar market growth. Effective long route electricity supply and lower sagging are some of key benefits which will enhance product penetration. Growing focus toward development and deployment of HVDC transmission networks to suffice electricity demand will further complement the industry outlook. The product is suitable for distribution of electricity across commercial, industrial, and service sectors.

Industrial applications in 2016, accounted for over 40% of global busbar market share. The product plays vital role across transmission and distribution substations, power generation project, where they find wide applications in electrical & electronic equipment including motor controls, transformers, motor controls and distribution boards. Ongoing expansion of existing transmission grid network will positively influence the industry landscape. Its ability to offer high efficiency, ease of installation and low space requirement will make its adoption preferable over cables.

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The U.S. busbar market size is predicted to exceed USD 2 billion by 2024. Introduction of government initiatives to promote the development of smart grid network will stimulate the industry growth. In 2016, U.S. department of energy announced to fund USD 220 million to upgrade the nation power grid network. Technological advancement in electrical equipment design to enhance efficiency along with growing adoption of effective grid support units will complement the business growth.

Growing demand for sustainable energy along with favorable government measures to promote the rural electrification reforms will fuel India busbar market share. Emerging demand for adoption of cost effective and energy efficient alternatives to power cables across residential, commercial and industrial sector will further complement the business growth.

Germany in 2016, accounted for over 16% of Europe busbar market share. Ongoing expansion of high voltage T&D lines along with establishment of microgrids network to support power generation facilities will further complement the industry outlook. In 2014, according to IEA, approximately USD 650 billion required for European Union electricity grids by 2035.
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