Busbar Market Projected To Display A Robust Growth With a CAGR of 6.1% by 2026

According to a report published by Allied Market Research, the global busbar market is anticipated to reach $23.6 billion by 2026.

The surge in requirement of efficient conductor and lower energy during transmission and rising concepts of green and smart cities across the globe are the major reasons driving the demand for busbars. However, the industry also faces challenges with the fluctuating prices of raw materials and the availability of cheap and low-quality products. Nevertheless, the developing switchgear and power market and advancements in new projects and plans in the industry are expected to pave the way for numerous opportunities in the coming future.

Multi-busbars have become a prominent mode for solar manufacturers. Various manufacturers are strengthening their focus on designing panels with maximum numbers of busbars. This intends to minimize the loss of internal resistance that occurs because of the shorter distance between the busbars. Another major reason for the utilization of multi-busbars is to save the panel from microcracking. Owing to the ability the demand for busbars is expected to increase in the coming years.

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The global busbar market is segmented based on materials type, application, and region.  Based on materials type, it is divided into aluminum, copper, and brass. Copper segment dominated the market but aluminum is expected to grow rapidly during the forecast period. The application covered in the study are industrial, commercial and residential. Industrial segment garnered the highest share. However, commercial market is expected to grow fastest during the forecast period owing to replacement of cables with busbar.

Based on region, busbar market analysis is done across North America, Europe, Asia-Pacific and LAMEA (Latin America, Middle East and Africa). Asia-pacific market garnered the largest busbar market share. China dominated the market in the region while India is expected to grow at the fastest rate owing to increasing investment in the country in the market. North America is expected to grow at higher pace owing to large concentration of manufacturer in the region. U.S. dominated the busbar market share followed by Canada.

The key players in busbar market are Siemens AG, ABB Ltd., Schneider Electric SE, Eaton Corporation Plc., Rogers Corporation, TE Connectivity Ltd., Legrand S.A., Friedhelm Loh Group, Mersen S.A., and Chint Group.

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Key Findings of the Busbar Market:

Global busbar market size is provided in terms of revenue

Canada is projected to grow at the highest CAGR of approximately 8%, in terms of revenue, during the forecast period

By application, the commercial segment is anticipated to grow with CAGR 6.8%, in terms of revenue, during the forecast period

China and U.S. dominated the busbar market growth with a revenue share of over 32.6% and 16.8% in 2018

A comprehensive analysis of the factors that drive and restrain the market growth is provided

The qualitative data in this report aims at the busbar market trends, dynamics, and developments in the busbar industry

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About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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