HOME › Press Releases › Busbar Market worth $16.04 billion by 2020
Busbar Market worth $16.04 billion by 2020
The report "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.
Browse 81 market data tables and 49 figures spread through 150 pages and in-depth TOC on “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"
Early buyers will receive 10% customization on reports.
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.
Source: MarketsandMarkets Analysis
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).
MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
North - Dominion Plaza,
17304 Preston Road,
Suite 800, Dallas, TX 75252