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.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold 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.