Busbar Market to surpass $24 Bn by 2025
Copper busbar market size is predicted to reach over USD 2 billion by 2025
Busbar Market size is set to surpass USD 24 Billion by 2025. Emerging demand for electrical conductors for distributing power effectively will drive the busbar market size. Less complexity, high flexibility, cost effectiveness, quick installation, and capability to tap in at various points without creating a new joint are some the highlighted parameters making product adoption viable over alternate technologies.
Favorable measures to promote adoption of energy efficient technologies in commercial and residential embodiments along with increasing investments toward development of smart cities will stimulate the market share. Growing efforts to reduce line losses to efficiently cater the surging energy demand will further complement the business landscape.
The U.S. busbar market size in 2018, was valued over USD 2 billion. Shift in trend toward adoption of sustainable solutions from conventional power distribution systems coupled with ongoing investments toward refurbishment and renovation of aging electrical grid infrastructure will augment the industry landscape.
Copper busbar market size is predicted to reach over USD 2 billion by 2025. These product offers extra security, long & reliable service life, resilience to higher temperatures, high thermal conductivity & ductility, and corrosion resistivity. Increased in investments toward construction of new commercial establishments along with strong economic growth will further complement the business outlook.
Industrial applications in 2018, contributed over 40% of global busbar market share by volume. Ongoing investments toward modernization of existing supply network along with growing efforts to reduce energy consumption will stimulate the industry growth. Low space requirement, ease of installation and high efficiency are few highlighted features making its adoption preferable over its counterparts.
Increasing implementation of sustainable power transmission facilities to fulfill continuous rising electricity demand will propel the Saudi Arabia busbar market size. For instance, in 2017, Saudi electricity company (SEC) announced to construct five interconnecting 380kV transmission lines which require 1,376 miles of electrical conductors at an estimated cost of USD 1.46 billion.
France busbar market size will witness growth on account of increasing investments toward green buildings infrastructure to minimize the GHG emissions along with favorable measures to promote adoption of energy efficient technologies. Furthermore, surging demand for sustainable technologies to carry heavy load current with minimal losses will further complement the industry landscape.
India market size will witness growth on account of introduction of several targets to reduce T&D losses coupled with growing efforts to meet the power demand & supply mismatch. For instance, Government of India has set target to minimize transmission and distribution losses to 15% by 2019 when compared with 2015. Furthermore, introduction of several rural electrification program along with emerging demand for sustainable energy will complement the industry outlook.
Major participants across busbar market include Godrej & Boyce Mfg., C&S electric, Bhagyanagar India, Southwire Company, Busbar power range Belgium, Legrand Group, MERSEN, C&S electric, Oriental Copper, Siemens AG, Halcor, Pentair, Schneider Electric, Methode Electronics, ABB, Littlefuse and Eaton.