Busbar Market: Information by Material (Copper and Aluminum), Power Range (Low, Medium, High), and End-User (Commercial, Residential, Industrial) — Forecast Till 2026

Jan 08, 2020   Global Statistics Representing Busbar Market Scenario A busbar is a conductive material made of a conducting strip of aluminum or copper. These metallic strips or bars are placed in various equipment such as switchgear, distribution panels, and switchboards that operate on electricity. Growing concerns regarding energy consumption and cost and operational benefits of busbars over cables are the major factors that drive the growth of the busbar market. In the transportation industry, aluminum b...
Request Free Sample Report

Report Description

Global Statistics Representing Busbar Market Scenario

A busbar is a conductive material made of a conducting strip of aluminum or copper. These metallic strips or bars are placed in various equipment such as switchgear, distribution panels, and switchboards that operate on electricity. Growing concerns regarding energy consumption and cost and operational benefits of busbars over cables are the major factors that drive the growth of the busbar market.

In the transportation industry, aluminum busbars are widely used to connect batteries to electrical components. Since these busbars play an essential role in vehicular operations, an increase in the demand for vehicles will support the growth of the market during the forecast period. Moreover, emerging switchgear applications in the commercial sector, along with innovations in the power sector, and transmission and distribution expansions, are expected to offer opportunities in the global busbar market. The market is expected to gain traction due to the rising demand for busbars from the transportation and logistics sectors as busbars play a vital role in electrical inter-connections.

The global busbar market was valued at USD 13.75 billion in 2018 and is expected to reach a value of USD 21.10 billion by 2026 with an anticipated CAGR of 5.5% during the forecast period, 2019–2026.

Intended Audience

  • Product Manufacturers (IDMs)
  • Original Equipment Manufacturers (OEMs), Dealers, and Suppliers
  • Hospitals and Other Healthcare Providers
  • Banks, Financial Institutions, Venture Capitalists, and Other Investors
  • Potential Investors
  • Research and Development Institutes

Industry News

  • In 2018, Schneider Electric signed an agreement with several companies in Saudi Arabia to foster innovation and develop infrastructure in the region
  • In August 2018, Eaton, a global power management company, was awarded a contract to help an electric utility power transient natural gas by adding new power distribution capacity in Southeast Wyoming, U.S.

Copper Busbars to Register Wider Applications than Aluminum Busbars

Copper and aluminum are the commonly used materials in the making of busbars. Copper offers superior properties such as high thermal conductivity, ductility, and corrosion resistance and long and reliable service life, which enhances the efficiency of the product. Copper busbars find applications in power generation plants and transmission and distribution projects across the globe. Growing consumer awareness regarding the energy efficiency of copper busbars over other cables due to their cost-effectiveness is also likely to support the growth of the busbar market during the forecast period.

Low-Power Busbars to Account for the Largest Value Share Among Segments by Power Range

Based on the power range, the busbar market is segmented into low power, medium power, and high power. The low power busbar segment is expected to capture a significant share in the market as these busbars are widely used in distribution panels and switchboards across various utilities and industries.

Commercial Segment to Dominate the Market by End-Use

Based on end-user, the busbar market is segmented into commercial, residential, and industrial. The commercial segment is expected to witness noteworthy growth owing to the increasing demand for electricity and rapid industrialization and commercialization. Additionally, the introduction of energy-saving programs to improve energy efficiency across different commercial establishments, including commercial business centers and shopping malls and complexes, will further accelerate the growth of the industry. Copper busbars are widely used in the commercial sector due to their high conductivity as compared to aluminum, which reduces overall cost.

Initiatives to Reduce Carbon Footprint in North America

The busbar market in North America is expected to capture a large share during the forecast period, due to ongoing technological innovations in the structural integrity of conductors. Several government initiatives toward cutting down on carbon emissions and an increasing change in infrastructure, amidst the growing preference of electric vehicles, are likely to create opportunities in North America’s busbar market during the forecast period. For instance, Siemens PLC has planned to cut down on its carbon emissions and become completely carbon neutral by 2030 by using renewable energy at its facilities.

The strong presence of manufacturers such as ABB Ltd and Siemens AG in the region also contributes to market growth. The busbar market will witness considerable growth from sandwich insulation due to the ability of busbars to withstand lower voltage drop. Government regulations regarding energy consumption and growing consumer awareness regarding energy usage are fueling the adoption of busbars in the market.

Infrastructure Development in Asia-Pacific

In Asia-Pacific, demand from the automotive and power sectors will spur the growth of the busbars market during the forecast period. Moreover, several government initiatives regarding projects based on power generation, transmission, and distribution are expected to contribute to the growth of the busbar market. Increasing the development of smart cities, rising demand for high voltage direct current transmission, and rising solar power capacity are set to create opportunities for the stakeholders operating in the region.

Government Funding in Europe

The European busbar market is poised to exhibit moderate growth during the forecast period due to increasing government funding and financing toward the development of energy infrastructure projects to support electricity generation. The aluminum busbar market in the region is expected to witness considerable growth on account of the superior properties of aluminum, such as lightweight and ability of economical transportation.

Emerging Power Plants in LAMEA

The LAMEA market is likely to witness steady growth during the forecast period. New generation power plants are continually being constructed in emerging countries such as Brazil, Saudi Arabia, and African countries, while existing infrastructure is being renovated, which is positively impacting the demand for busbars in the region. Moreover, governments of several countries are taking up initiatives to improve the existing power infrastructure to enhance electricity production. For instance, the Sub-Saharan African government invested in coordinated and long-term electrification plans, which are expected to improve electricity access in the region.

Key Players

The busbar market is competitive in nature, and a small number of market participants dominate the market. The most notable market participants are ABB Ltd. (Switzerland), Schneider Electric (France), Siemens AG (Germany), Eaton Corporation plc. (Ireland), Legrand S.A. (France), CandS Electric Company (India), Mersen S.A. (France), CHINT Electric Co. Ltd. (China), and Rittal GMBH and CO. KG (Germany).

Busbar Market Segmentation

By Material

  • Copper
  • Aluminum

By Power Range

  • Low Power
  • Medium Power
  • High Power

By End-User

  • Commercial
  • Industrial
  • Residential

By Region

North America

  • U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia
  • Poland
  • Rest of Europe

Asia-Pacific

  • Japan
  • India
  • China
  • South Korea
  • Australia
  • Vietnam
  • Indonesia
  • Malaysia
  • Singapore
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Argentina
  • Colombia
  • Rest of Latin America

Middle East

  • Saudi Arabia
  • Oman
  • Qatar
  • Bahrain
  • UAE
  • Rest of ME

Africa

  • Nigeria
  • Tanzania
  • South Africa
  • Ghana
  • Rest of Africa

Frequently Asked Questions (FAQs)

The global busbar market was valued at USD 13.75 billion in 2018 and is expected to reach a value of USD 21.10 billion by 2026 with an anticipated CAGR of 5.5% during the forecast period, 2019–2026.
Increasing development of smart cities, rising demand for high voltage direct current transmission, and rising solar power capacity are the key factor expected to drive the Busbar Market during forecast period.
North America is expected to hold the highest market share in Busbar Market.
In 2026 Global Busbar Market was valued at USD 21.10 billion.
Low-Power Busbars Power Range Segment is expected to be leading segment in Busbar Market during the forecast period.
ABB Ltd., Schneider Electric, Siemens AG, Eaton Corporation plc., Legrand S.A., CandS Electric Company are the top players in Busbar Market.
We will send you an email with login credentials to access the report. You will also be able to download the pdf.
Basically choose Pay by Purchase Order when you are checking out. We will connect with you via email to set up your order.
Call us, email us, or chat with us! We encourage your questions and feedback. We have a research concierge team available at all times, and included in every purchase.

Global Statistics Representing Busbar Market Scenario

A busbar is a conductive material made of a conducting strip of aluminum or copper. These metallic strips or bars are placed in various equipment such as switchgear, distribution panels, and switchboards that operate on electricity. Growing concerns regarding energy consumption and cost and operational benefits of busbars over cables are the major factors that drive the growth of the busbar market.

In the transportation industry, aluminum busbars are widely used to connect batteries to electrical components. Since these busbars play an essential role in vehicular operations, an increase in the demand for vehicles will support the growth of the market during the forecast period. Moreover, emerging switchgear applications in the commercial sector, along with innovations in the power sector, and transmission and distribution expansions, are expected to offer opportunities in the global busbar market. The market is expected to gain traction due to the rising demand for busbars from the transportation and logistics sectors as busbars play a vital role in electrical inter-connections.

The global busbar market was valued at USD 13.75 billion in 2018 and is expected to reach a value of USD 21.10 billion by 2026 with an anticipated CAGR of 5.5% during the forecast period, 2019–2026.

Intended Audience

  • Product Manufacturers (IDMs)
  • Original Equipment Manufacturers (OEMs), Dealers, and Suppliers
  • Hospitals and Other Healthcare Providers
  • Banks, Financial Institutions, Venture Capitalists, and Other Investors
  • Potential Investors
  • Research and Development Institutes

Industry News

  • In 2018, Schneider Electric signed an agreement with several companies in Saudi Arabia to foster innovation and develop infrastructure in the region
  • In August 2018, Eaton, a global power management company, was awarded a contract to help an electric utility power transient natural gas by adding new power distribution capacity in Southeast Wyoming, U.S.

Copper Busbars to Register Wider Applications than Aluminum Busbars

Copper and aluminum are the commonly used materials in the making of busbars. Copper offers superior properties such as high thermal conductivity, ductility, and corrosion resistance and long and reliable service life, which enhances the efficiency of the product. Copper busbars find applications in power generation plants and transmission and distribution projects across the globe. Growing consumer awareness regarding the energy efficiency of copper busbars over other cables due to their cost-effectiveness is also likely to support the growth of the busbar market during the forecast period.

Low-Power Busbars to Account for the Largest Value Share Among Segments by Power Range

Based on the power range, the busbar market is segmented into low power, medium power, and high power. The low power busbar segment is expected to capture a significant share in the market as these busbars are widely used in distribution panels and switchboards across various utilities and industries.

Commercial Segment to Dominate the Market by End-Use

Based on end-user, the busbar market is segmented into commercial, residential, and industrial. The commercial segment is expected to witness noteworthy growth owing to the increasing demand for electricity and rapid industrialization and commercialization. Additionally, the introduction of energy-saving programs to improve energy efficiency across different commercial establishments, including commercial business centers and shopping malls and complexes, will further accelerate the growth of the industry. Copper busbars are widely used in the commercial sector due to their high conductivity as compared to aluminum, which reduces overall cost.

Initiatives to Reduce Carbon Footprint in North America

The busbar market in North America is expected to capture a large share during the forecast period, due to ongoing technological innovations in the structural integrity of conductors. Several government initiatives toward cutting down on carbon emissions and an increasing change in infrastructure, amidst the growing preference of electric vehicles, are likely to create opportunities in North America’s busbar market during the forecast period. For instance, Siemens PLC has planned to cut down on its carbon emissions and become completely carbon neutral by 2030 by using renewable energy at its facilities.

The strong presence of manufacturers such as ABB Ltd and Siemens AG in the region also contributes to market growth. The busbar market will witness considerable growth from sandwich insulation due to the ability of busbars to withstand lower voltage drop. Government regulations regarding energy consumption and growing consumer awareness regarding energy usage are fueling the adoption of busbars in the market.

Infrastructure Development in Asia-Pacific

In Asia-Pacific, demand from the automotive and power sectors will spur the growth of the busbars market during the forecast period. Moreover, several government initiatives regarding projects based on power generation, transmission, and distribution are expected to contribute to the growth of the busbar market. Increasing the development of smart cities, rising demand for high voltage direct current transmission, and rising solar power capacity are set to create opportunities for the stakeholders operating in the region.

Government Funding in Europe

The European busbar market is poised to exhibit moderate growth during the forecast period due to increasing government funding and financing toward the development of energy infrastructure projects to support electricity generation. The aluminum busbar market in the region is expected to witness considerable growth on account of the superior properties of aluminum, such as lightweight and ability of economical transportation.

Emerging Power Plants in LAMEA

The LAMEA market is likely to witness steady growth during the forecast period. New generation power plants are continually being constructed in emerging countries such as Brazil, Saudi Arabia, and African countries, while existing infrastructure is being renovated, which is positively impacting the demand for busbars in the region. Moreover, governments of several countries are taking up initiatives to improve the existing power infrastructure to enhance electricity production. For instance, the Sub-Saharan African government invested in coordinated and long-term electrification plans, which are expected to improve electricity access in the region.

Key Players

The busbar market is competitive in nature, and a small number of market participants dominate the market. The most notable market participants are ABB Ltd. (Switzerland), Schneider Electric (France), Siemens AG (Germany), Eaton Corporation plc. (Ireland), Legrand S.A. (France), CandS Electric Company (India), Mersen S.A. (France), CHINT Electric Co. Ltd. (China), and Rittal GMBH and CO. KG (Germany).

Busbar Market Segmentation

By Material

  • Copper
  • Aluminum

By Power Range

  • Low Power
  • Medium Power
  • High Power

By End-User

  • Commercial
  • Industrial
  • Residential

By Region

North America

  • U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia
  • Poland
  • Rest of Europe

Asia-Pacific

  • Japan
  • India
  • China
  • South Korea
  • Australia
  • Vietnam
  • Indonesia
  • Malaysia
  • Singapore
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Argentina
  • Colombia
  • Rest of Latin America

Middle East

  • Saudi Arabia
  • Oman
  • Qatar
  • Bahrain
  • UAE
  • Rest of ME

Africa

  • Nigeria
  • Tanzania
  • South Africa
  • Ghana
  • Rest of Africa

Frequently Asked Questions (FAQs)

The global busbar market was valued at USD 13.75 billion in 2018 and is expected to reach a value of USD 21.10 billion by 2026 with an anticipated CAGR of 5.5% during the forecast period, 2019–2026.
Increasing development of smart cities, rising demand for high voltage direct current transmission, and rising solar power capacity are the key factor expected to drive the Busbar Market during forecast period.
North America is expected to hold the highest market share in Busbar Market.
In 2026 Global Busbar Market was valued at USD 21.10 billion.
Low-Power Busbars Power Range Segment is expected to be leading segment in Busbar Market during the forecast period.
ABB Ltd., Schneider Electric, Siemens AG, Eaton Corporation plc., Legrand S.A., CandS Electric Company are the top players in Busbar Market.
We will send you an email with login credentials to access the report. You will also be able to download the pdf.
Basically choose Pay by Purchase Order when you are checking out. We will connect with you via email to set up your order.
Call us, email us, or chat with us! We encourage your questions and feedback. We have a research concierge team available at all times, and included in every purchase.