The Busbar Market is Dominated by Global Players. Some of the key Players Operating in the Market
The global busbar market is projected to grow at a CAGR of 5.48% from 2016 to 2021. Asia-Pacific is estimated to be the largest market for busbar, followed by Europe. The trend is expected to continue to 2021. The growth of the busbar market is driven by growing energy consumption due to urbanization & industrialization, increasing focus on energy efficiency, and cost & operational benefits of busbars over cables
The busbar market is dominated by global players. Some of the key players operating in the market are ABB Ltd. (Switzerland), Schneider Electric (France), Siemens AG (Germany), Eaton Corporation plc. (Ireland), and Legrand S.A. (France), among others.
Key strategies adopted by the players in the busbar market include contracts & agreements, new product development, merger & acquisition, and investment & expansions. Contracts & agreements was the most commonly used strategy, constituting 37% of total development from 2012 to 2016. Industry players also widely adopted the strategy of new product launch during the same period.
Siemens AG is a leading manufacturing and engineering company. It offers its busbar under the energy management division. This division focuses on power transmission and distribution products, systems, solutions, software, and services. The division also focuses on intelligent grid infrastructure products. Siemens’ strategy is to meet the growing demand for power products in different countries by establishing manufacturing facilities in those countries. The company has a dedicated R&D team which is working towards improving and upgrading existing products and developing new ones to meet growing customer requirements. Siemens is focusing on developing economies such as India and China, as they are becoming huge markets for power products. The company expanded its power business in the Indian subcontinent by opening two new plants to manufacture power supply equipment. Siemens has recently launched air-insulated busbar trunking system as an enhancement for existing LD system for wind turbines.
ABB Ltd. is the leading power and automation technology company, offering an extensive range of products, services, and systems. ABB offers busbars under electrification products, previously known as low voltage products segment, which accounted for 17% of the company’s total net sales in 2015. The company has adopted expansion, penetration, and innovation as its key strategies to retain its leading position in the market. The company is also focusing on gaining new contracts for supplying busbars. ABB had recently received a contract from China Southern Power Grid Company Ltd. (China) worth USD 40 million to provide advance power equipment to 800 kV Dianxibei-Guangdong ultra-high voltage direct current (UHVDC) transmission link.
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Busbar Market by Conductor (Copper, Aluminum), Power Rating (Low, Medium, High Power), End-User (Utilities, Commercial, Industrial, Residential, Industrial (Chemicals & Petroleum, Metals & Mining, Manufacturing)), and Region - Global Trends & Forecast to 2021
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