Press Release

Fatpos Global

Busbar market is expected to project a notable CAGR of 5.62% in 2031

September 10th, 2021 9:54 AM

Busbar market to surpass USD 28.45 billion by 2031 from USD 16.47 billion in 2021 at a CAGR of 5.62% in the coming years, i.e., 2022-31. Growing energy consumption due to industrialization and urbanization, increasing focus on energy efficiency, and cost & operational benefits of busbar over cables are the major factors driving the market.

A busbar is a thin metal strip or bar composed of aluminum or copper. Busbar is an excellent conductor of electric current that is used for power distribution in switchgear, electric panel boards, and busway enclosures. They’re frequently used to link high-voltage equipment at electrical switchyards and low-voltage equipment in battery assemblies. Busbar has the ability to withstand high temperatures, have high mechanical strength, and dissipate heat. The busbar transmits energy inside a switchboard, distribution board, substation, battery bank, or other electrical equipment. Large quantities of power are transported over short distances using busbars. Corona discharge losses are reduced due to their increased surface area. Busbars aren’t often thought of as structural components. The material composition and cross-sectional dimensions of the busbar define the maximum amount of current that may be safely carried.

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Busbar Market: Key Players

  • Siemens AG
  • ABB Ltd.
  • Schneider Electric SE
  • Eaton Corporation Plc.
  • Rogers Corporation
  • TE Connectivity Ltd.
  • Legrand S.A.
  • Friedhelm Loh Group
  • Mersen S.A.
  • Chint Group

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Busbar market: Segments

segment to grow with the highest CAGR during 2021-31

Busbar market is segmented by Material Type into aluminum, copper, and brass. Copper dominates the market in terms of revenue owing to high price of raw materials. Aluminum is expected to grow at a higher CAGR during the forecast period. Aluminum has high conductivity and efficiency. It is 70% lighter than copper making it preferable by the end-users. In addition, the loss of energy during the transmission is also lower in comparison to other materials, which results in increased demand for aluminum.

SMEs segment to grow with the highest CAGR during 2021-31

Busbar market is segmented by Application into Industrial, Commercial and Residential. By holding a significant market share in terms of sales, the industrial segment dominated the market. The commercial segment, on the other hand, is expected to grow at a faster rate due to smart and green city concepts. The commercial sector is quickly replacing traditional cables with busbars because they are simple to install and save space. Busbars are used in a variety of commercial settings, including buildings, corporate offices, department stores, shopping malls, offices, and banks.

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Segmentation

  • By Material Type
    • Aluminum
    • Copper
    • Brass
  • By Power Rating
    • Low Power
    • Medium Power
    • High Power
  • By Application
    • Industrial
    • Commercial
    • Residential

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Fatpos Global is a consulting and research firm focused on market research, business services, and sourcing. We are trusted advisors to senior executives of leading enterprises, providers, and investors. Our firm helps clients improve operational and financial performance through a hands-on process that supports them in making well informed decisions that deliver high-impact results and achieve sustained value. Our insight and guidance empowers clients to improve organizational efficiency, effectiveness, agility and responsiveness.

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