Kenneth Research, in its repository of market research reports, have recently added a report on Busbar Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Busbar Market products.
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According to the statistics by the International Environmental Agency (IEA), the global stock of electric passenger cars passed 5 million in the year 2018, which was an increase by 63% from the year 2017.
The Busbar Market Inclinations & Busbar Market is expected to grow at a significant CAGR during the forecast period. Increasing demand for commercial and personal electric vehicles around the globe is anticipated to drive the growth of the MARKET over the forecast period. According to the statistics by the International Environmental Agency (IEA), the global stock of electric passenger cars passed 5 million in the year 2018, which was an increase by 63% from the year 2017.
Global Busbar Market to reach USD 21 billion by 2025. Global Busbar Market valued approximately USD 13 billion in 2016 is anticipated to grow with a healthy growth rate of more than 5.50% over the forecast period 2017-2025 The growth is attributed to rising energy consumption due to increasing urbanization & industrialization, increasing focus on energy efficiency, and cost & operational benefits of busbar over cables. The report segments the busbar Market based on end-user into commercial, industrial, residential, and utilities. The utilities segment is the largest end-user of the Market as it finds a number of applications such as switchgear, motor controls, and transformers, among others. High power busbar is normally used in this sector. Based on the conductor, the Market has been segmented into aluminum and copper busbar. The copper busbar segment is estimated to dominate the Market during the forecast period. The Market has also been segmented based on power rating into low power (below 125 A), medium power (125 to 800 A), and high power (above 800A). Demand from small buildings, factories, warehouses, subways, and other marine applications will drive the demand for low power busbar during the forecast period.
The regional analysis of Global Busbar Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is expected to dominate the global busbar Market during the forecast period. Middle East & Africa is projected to grow at the fastest CAGR from 2016 to 2025, owing to increasing focus on energy efficiency and rise in energy consumption due to industrialization and urbanization in the region.
The objective of the study is to define Market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the Market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The major market players in Busbar Market players include Siemens Ag, ABB Ltd, Schneider Electric SE, Eaton Corporation PLC, Legrand S.A., General Electric, Mersen S.A, Power Products LLC, C & S Electric Company, Promet AG and so on.
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The detailed segments and sub-segment of the Market are explained below:
By Conductor
*Copper
*Aluminum
By Power Rating
*Low Power
*Medium Power
*High Power
By End User
*Utilities
*Industrial
*Commercial
*Residential
By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
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