Busbar Market Expected to Generate $23.6 Billion, Globally, by 2026 at 6.1% CAGR, Says Allied Market Research

Adoption of green & smart city concepts and need for efficient conductor and lower energy loss during transmission drive the growth of the global busbar market

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Allied Market Research

Dec 05, 2019, 05:30 ET

PORTLAND, Oregon, Dec. 5, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Busbar Market by Material Type (Aluminum, Copper, and Brass) and Application (Industrial, Commercial, and Residential): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global busbar industry was pegged at $14.0 billion in 2018, and is projected to garner $23.6 billion in 2026, registering a CAGR of 6.1% from 2019 to 2026.

Driving factors for the market

Need for efficient conductor and lower energy loss during transmission and adoption of green & smart city concepts have boosted the growth of the global busbar market. However, availability of cheap and low-quality products and volatile raw material pricing hamper the market. On the contrary, emerging switchgear and energy & power market is expected to create lucrative opportunities in the near future.

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Aluminum segment to manifest the fastest CAGR through 2026

By material type, the aluminum segment is expected to register the fastest CAGR of 6.7% during the forecast period, owing to high conductivity and efficiency. However, the copper segment held the largest share in 2018, contributing more than half of the global busbar market, owing to high price of raw materials. The report includes analysis of the brass segment.

Industrial segment dominated the market

By application, the industrial segment held the lion's share in 2018, accounting for more than two-fifths of the global busbar market. However, the commercial segment is anticipated to register the fastest CAGR of 6.8% during the forecast period, owing to smart & green city concepts. The report includes an analysis of the residential segment.

North America region to portray the fastest CAGR by 2026

The global busbar market across North America is estimated to register the fastest CAGR of 6.8% during the forecast period, owing to the presence of major corporations in the region. However, the market across Asia-Pacific held the largest share in 2018, accounting for more than half of the market, owing to increasing investments in the emerging economies in the busbar industry. The report includes analysis of the market across Europe and LAMEA.

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Industry Money Makers

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

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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