PUNE, India --- The report "Busbar Market by Conductor (Copper, Aluminum), Power Rating (Low, Medium, High Power), End-User (Utilities, Commercial, Industrial, Residential, Industrial (Chemicals & Petroleum, Metals & Mining, Manufacturing)), and Region - Global Trends & Forecast to 2021" published by MarketsandMarkets, the market is expected to grow from an estimated USD 12.68 Billion in 2016 to USD 16.55 Billion by 2021, registering a CAGR of 5.48% from 2016 to 2021.
The global market is witnessing significant growth because of energy consumption due to urbanization & industrialization, increasing focus on energy efficiency, and cost & operational benefits of busbar over cables. Utilities segment is expected to hold the largest share of the Busbar Market, by end-use industry, during the forecast period
The utilities industry led the overall Busbar Market in 2015. Busbar are vital components in power generation plants, as well as in transmission and distribution substations, where they find application in distribution boards, switchgears, motor controls, and transformers among others. Busbar are used as reliable replacement of cables due to high efficiency, low space requirements, and ease of installation.
Low power busbar are expected to hold the largest market share, by power rating, during the forecast period
The low power busbar segment is expected to hold the largest market of the global Busbar Market during the forecast period. The demand for low power busbar is suitable for supplying power to light fixtures for commercial and industrial segments. They can be installed both in false ceilings and in technical floors. They are widely used in distribution panels and switchboards across utilities, industries, and for residential applications, thus giving it a wider market coverage compared to medium and high power busbar.
Asia-Pacific is the fastest growing market for busbar
In this report, the Busbar Market has been analyzed with respect to five regions, namely, North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. Asia-Pacific is expected to be the fastest growing market for busbar. Increasing focus on energy efficiency and growing energy consumption due to urbanization and industrialization in the region will drive the Asia-Pacific Busbar Market from 2016 to 2021.
To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the Busbar Market. These players include ABB Ltd. (Switzerland), Schneider Electric (France), Siemens AG (Germany), Eaton Corporation plc. (Ireland), Legrand S.A. (France), C&S Electric Company (India), Eaton Corporation plc. (Ireland), Mersen S.A. (France), Schneider Electric SE (France), CHINT Electric Co. Ltd. (China), and Rittal GMBH & CO. KG (Germany), among others. Leading players are trying to penetrate the markets in developing economies and are adopting various strategies to increase their market share.
Browse 83 market data Tables and 46 Figures spread through 143 Pages and in-depth TOC on "Busbar Market" at http://www.marketsandmarkets.com/Market-Reports/busbar-market-181939364.html
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