According to IMARC Group’s latest report, titled “Busbar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global busbar market size reached US$ 17 Billion in 2021. Busbar refers to an electrical conductor that is used to collect electric current from the incoming feeders and distribute it to outgoing feeders. It grounds and conducts electricity at the same time and connects several circuits in a system. Busbar is usually coated with materials that provide different conductivity limits and variations. The growing utilization of electricity across the industrial, commercial and industrial sectors is propelling the demand for busbars across the globe.
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A significant increase in the demand for uninterrupted and reliable power supply, along with the rising adoption of renewable energy sources for power generation, is primarily impelling the market growth. Furthermore, as busbars are reliable, cost-efficient, environment-friendly, require few installation materials, employ reusable and re-locatable plug-in outlets, etc., they are gaining traction over cables. Besides this, the governments of various countries are increasing their investments in grid expansion and modernization. They are also implementing energy-saving programs to improve energy efficiency across commercial facilities. This is projected to further augment the market growth in the coming years. Looking forward, IMARC Group expects the busbar market to reach US$ 22.8 Billion by 2027, exhibiting a growth rate (CAGR) of 4.9% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Schneider Electric
- Eaton Corporation
- General Electric
- Chint Electric
- Power Products
- C&S Electric
- ElvalHalcor S.A.
- Southwire Company
- Oriental Copper
- Historical, Current and Future Market Trends
- Market Breakup by Power Rating:
- Market Breakup by Conductor:
- Market Breakup by End-User:
- Market Breakup by Industry:
- Chemicals and Petroleum
- Metals and Mining
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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