Busbar Market Size 2021: Industry Size, Share, Growth, Trends, Analysis and Forecast Till 2026

Looking forward, IMARC Group expects the global busbar market to grow at a CAGR of around 5% during the forecast period (2021-2026).

SHERIDAN, WYOMING, UNITED STATES, October 20, 2021 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “Busbar Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2021-2026”, the global busbar market exhibited moderate growth during 2015-2020. Busbar refers to an electrical conductor that is used to collect electric current from the incoming feeders and distribute it to outgoing feeders. It grounds and conducts electricity at the same time and connects several circuits in a system. Busbar is usually coated with materials that provide different conductivity limits and variations. The growing utilization of electricity across the industrial, commercial and industrial sectors is propelling the demand for busbars across the globe.

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A significant increase in the demand for uninterrupted and reliable power supply, along with the rising adoption of renewable energy sources for power generation, is primarily impelling the market growth. Furthermore, as busbars are reliable, cost-efficient, environment-friendly, require few installation materials, employ reusable and re-locatable plug-in outlets, etc., they are gaining traction over cables. Besides this, the governments of various countries are increasing their investments in grid expansion and modernization. They are also implementing energy-saving programs to improve energy efficiency across commercial facilities. This is projected to further augment the market growth in the coming years. Looking forward, IMARC Group expects the global busbar market to grow at a CAGR of around 5% during the forecast period (2021-2026).

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Competitive Landscape with Key Players:

Siemens
ABB
Schneider Electric
Eaton Corporation
Legrand
General Electric
Mersen
Rittal
Chint Electric
Power Products
C&S Electric
Promet
ElvalHalcor S.A.
Littelfuse
Southwire Company
Oriental Copper
Market Segmentation:

Report Coverage:

Historical, Current and Future Market Trends

Market Breakup by Power Rating:
High
Medium
Low

Market Breakup by Conductor:
Copper
Aluminium

Market Breakup by End-User:
Industrial
Commercial
Residential
Utilities

Market Breakup by Industry:
Chemicals and Petroleum
Metals and Mining
Manufacturing
Others
Breakup by Region:

North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

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Key highlights of the report:

Market Performance (2015-2020)
Market Outlook (2021-2026)
Market Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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IMARC Services Private Limited
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