Industrial Motor Busbar: Introduction
- Busbar is a metallic bar used to carry large amount of electric power with ease and flexibility. The busbar is used in the form of thin walled tubes or pipes and are primarily used for cost saving in industries. Materials such as aluminum and copper are used in construction of industrial motor busbar. The busbar comes in various shapes such as solid bars, and flat strips.
- Motor busbars simplify the process of power distribution more efficiently, require low maintenance, and are cost effective. The current carrying capacity is dependent on the type of material and size of busbar.
- Inclination of industries toward electrification in transportation, renewable energy, and mobility is expected to create demand for industrial motor busbars.
Key Drivers and Opportunities of the Global Industrial Motor Busbar Market
- It is crucial to monitor the power usage cost in industries, as it helps the manufacturer to maintain the cost of power by setting a base line and taking necessary steps by reducing power consumption. Manufacturers with the help of industrial motor busbars track the figures about the consumption of power in the industry to maintain the electricity cost, which is expected to foster the demand for industrial motor busbars.
- An industrial motor busbar reduces the assembly complexity, industrial cost, improves power efficiency, and is environment friendly as it requires few installation materials, and the plug in outlets are relocatable and usable, which is expected to drive the growth of the market.
- Most industrial motor busbars are made from copper and aluminum; these materials are price sensitive and cost of these materials fluctuate in the market, which affects the manufacturing cost. In addition, many manufacturers faced huge loss and disruption in raw material supply due to the Covid-19 pandemic, which is further expected to restrain the industrial motor busbar market.
- Manufacturers are investing in research and development of busbars to improve power efficiency and advancement in structural integrity of industrial motor busbar systems, which is likely to boost the market during the forecast period
Asia Pacific to Hold Major Share of the Global Industrial Motor Busbar Market
- In terms of region, the global industrial motor busbar market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Asia Pacific is expected to dominate the global industrial motor busbar market due to increasing industrialization, focus on energy consumption, and easy availability of raw materials such as copper and aluminum in the region. The major growing countries in the region are China, India, etc. The Asia Pacific market is likely to be followed by markets in North America and Middle East & Africa due to focus on power infrastructure.
Some of the Key Players Operating in the Global Industrial Motor Busbar Market are Listed Below:
- Artesyn Embedded Power
- Eaton Corporation
- General Electric
- Hofer Group Holding
- Schneider Electric
- Siemens AG
Global Industrial Motor Busbar Market: Research Scope
Global Industrial Motor Busbar Market, by Material
- Others (Brass, etc.)
Global Industrial Motor Busbar Market, by End-users
- Power generation
- Food and beverages
- Others (Automotive industries, etc.)
Global Industrial Motor Busbar Market, by Size
- Up to 500 amps
- 500 to 1000 amps
- Above 1000 amps
Global Industrial Motor Busbar Market, by Shape
- Solid bars
- Flat strips
- Others (Rods, etc.)
Global Industrial Motor Busbar Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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
- 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.