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Global Busbar Market To Be Driven By The Rising Investments Towards Developing Efficient Power Supply Networks In The Forecast Period Of 2021-2026
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The new report by Expert Market Research titled, 'Global Busbar Market Report and Forecast 2021-2026', gives an in-depth analysis of the global busbar market , assessing the market based on its segments like power rating, conductor, end-use, industry, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter's Five Forces models.
Request a free sample copy in PDF or view the report summary@ https://www.expertmarketresearch.com/reports/busbar-market/requestsample
The key highlights of the report include:
Market Overview (2016-2026)
Historical Market Size (2020): USD 15 Billion
Forecast CAGR (2021-2026): 5.25%
Forecast Market Size (2026): USD 20.4 Billion
The global busbar market is being driven by rising investments in developing efficient power supply networks across residential, commercial, and industrial establishments. Its adoption is being preferred over other options because of its ability to supply high voltage power in building structures without requiring additional space. Increased investments in the refurbishment and replacement of aging transmission networks and increasing adoption of smart grid technology are adding to the market size. Less heat dissipation, versatility of tap-off sites, bulk power transmission over long distances, minor fire threats, and reduced wire hassle are some of the main features that will affect product acceptance positively over the forecast period.
Industry Definition and Major Segments
A busbar (also bus bar) is a metallic strip or bar used in electric power distribution that is usually located within switchgear, panel boards, and busway enclosures for local high current power distribution. They are often used to connect high-voltage equipment at electrical switchyards and low-voltage equipment in battery banks.
Based on power rating, the market can be divided into:
On the basis of conductor, the industry is bifurcated into:
The industry can be categorized on the basis of end-use into:
On the basis of industry, the industry is divided into
Chemicals and Petroleum
Metals and Mining
Regionally, the market is segmented into:
Middle East and Africa
The busbar market will grow faster as high-voltage transmission networks become more widely used to meet rising electricity demand. Rising investments in energy infrastructure projects to support electricity generation units would also help the market expand. For example, the European Union announced in January 2019 that it will invest USD 896.1 million in energy infrastructure projects, with USD 564.5 million going to smart grid and electricity.
Key Market Players
The major players in the market are Siemens, ABB, Schneider Electric, Eaton Corporation, Mersen, Oriental Copper Co. Ltd., Legrand Electric Ltd., and Southwire Company LLC, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.
At Expert Market Research, we tailor our approach according to our clients' needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.
Company Name: Claight Corporation
Contact Person: Sofia Williams, Corporate Sales Specialist – USA
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Also, Check Procurement Intelligence which provides you Infallible research solutions.
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
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