Wednesday 10 June 2015, Amsterdam
The report, Now available on ASDReports, "Busbar Market by Power Rating (Low, Medium, and High), End User (Utilities, Industrial, Residential, and Others) & by Region (North America, South America, Europe, Asia-Pacific, Middle East & Africa) - Global Trends & Forecasts to 2020", defines and segments the market with regional forecast and segment revenue estimates through to 2020. The global busbar market will grow from an estimated value of $12.32 Billion in 2015 to $16.04 Billion by 2020 with a CAGR of 5.41% from 2015 to 2020.
Top market players from the industry segment have been studied in order to track developments, technologies, and other key business strategies that define the busbar market environment. Busbar reduces system costs, provides better operational flexibility, and improves reliability when compared to cables in an electrical network.
Asia-Pacific: The largest market for Busbars
The Asia-Pacific region holds the largest market for busbar, driven largely by the number of transmission and distribution line up-gradations and developments especially in the South East Asian region. The other major drivers include increasing power demand, industrialization and urbanization, and rapid development in the construction industry in countries such as China and India.
Utilities: Biggest market by application
Busbars are mostly used in transmission and distribution by power utility companies. They are used for transferring electric power in short distances, such as connecting a generator to a step-up transformer or from a transformer to switchgear. With the growing transmission and distribution network across globe, the number of substations will keep on increasing. This increasing number of substations would further increase the use and demand of busbars. Maximum T&D expansion projects are ongoing in Asia-Pacific and the region is expected to be the biggest and the fastest growing market for busbar.
The busbar industry is fragmented and offers several opportunities for consolidation and growth in efficiency through an increase in economies of scale. The industry has low entry and exit barriers, which acts as a driver for the busbar market. Top players of the busbar market are ABB Ltd. (Switzerland), Eaton Corporation Plc. (Ireland), Schneider Electric SE (France), Legrand (France), and Siemens AG (Germany).