Busbar connectors are typically metallic strips or bars which provide the means of distributing power within a system. They are composed of metal or metal alloys which exhibit high conductivity such as brass, aluminum, or copper. These elements, along with insulators, are used to connect the electrical loads and power supply in an electrical system. A busbar must be designed so as to support its own weight and also resist mechanical vibrations, thermal fluctuations, and magnetic forces caused by large electric currents. Busbars are used in a variety of systems involving the consumption of electric power. They aid the conduction of electricity in a power grid while simultaneously reducing power loss. The material composition of the busbar and its cross-sectional dimensions regulates the current rating of the system. Due to the skin effect, busbars generally comprise a thin or hollow cross-section. They are usually enclosed in switchgears, panel boards, busway enclosures, or any establishments. Busbars can also be employed to connect high voltage equipment at electrical switchyards. Rising demand for busbars from the transportation industry is poised to be the key driving factor for this market, with solid aluminum busbars being extensively used to connect batteries to electrical components.

Busbars are more energy-efficient than cables and hence preferred for power distribution purposes. The global busbar market can be segmented into the low power, medium power, and high power types, based on the power rating of the busbars. The low power segment is expected to provide lucrative opportunities over the next decade due to their increasing consumption to supply power to residential and industrial establishments. The rising global use of electric vehicles is anticipated to provide new opportunities to the busbar market in the next few years due to the prevalence of aluminum connectors in electrical vehicles. The presence of multiple companies in the unorganized sector offering lower quality and cheaper products restricts the development of the busbar market. Fluctuating raw material prices and lack of infrastructural development in several countries in Africa & Asia present challenges as well.

Demand for busbars is considerable in Asia Pacific. China is the dominant country in the market in terms of both, production and consumption. India, Thailand, and Malaysia are increasing their consumption of busbars at a rapid rate due to the rising industrialization in these countries. They are investing heavily in order to upgrade their power infrastructure which, in turn, is anticipated to drive the busbar market. The market in North America and Europe is relatively mature due to the established high standard of energy infrastructure. The growing use of electric and hybrid electric vehicles in developed countries due to environmental regulations is likely to boost the demand for busbars. The market in the Middle East is likely to witness sluggish growth in the next few years due to the slowdown in the oil & gas industry. In Latin America, Mexico and Brazil are poised to observe growth in the busbar market due to the development of key end-use industries. Countries in Africa offer significant potential for the busbar market due to the poor infrastructure and increasing investments in power and utilities in this region.

Key players in this market are China Electrics Co. Ltd., Rittal GMBH & Co. KG, Legrand S.A., TE Connectivity Ltd., Power Products LLC., Siemens AG, ABB Ltd., Schneider Electric SE, Eaton Corporation Plc., and Mersen S.A. In addition, a number of companies in the unorganized sector, particularly in China and India, are involved in the manufacture of busbars. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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