Asia-Pacific Busbar Market, By Conductor (Copper, Aluminium), Weight Wise (Less than 1Kg, More than 1 Kg), Shape Wise (Chamfer, Rectangular), Insulation (Epoxy Power Coating, Mylar, Nomex, Kapton, Teonix, Tedler), Length (Less than 1 m, 1m to 2m, 2 m to 3m, and More than 3m), Busbar Type( Single Conductor Busbar, Multiple Conductor Busbar, Flexible Busbar, Laminated Busbar), Power Rating (Low Power, Medium Power (125 A-800 A), High Power (Above 800 A)), End User(Industrial, Commercial and Residential), Country (China, Japan, South Korea, India, Australia, Singapore, Indonesia, Thailand, Malaysia, Philippines, and Rest of Asia-Pacific) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Asia-Pacific Busbar Market
Asia-Pacific busbar market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.2% in the forecast period of 2021 to 2028 and is expected to reach USD 9,618.03 million by 2028. Growing focus on energy efficiency, and cost & operational benefits of busbar over cables, acts as a driver for the busbar market growth.
An electrical busbar is defined as a conductor or a group of conductor used for collecting electric power from the incoming feeders and distributes them to the outgoing feeders. In other words, it is a type of electrical junction in which all the incoming and outgoing electrical current meets. Thus, the electrical bus bar collects the electric power at one location. The bus bar system consists of the isolator and the circuit breaker. On the occurrence of a fault, the circuit breaker is tripped off and the faulty section of the busbar is easily disconnected from the circuit.
The electrical bus bar is available in rectangular, cross-sectional, round and many other shapes. The rectangular bus bar is mostly used in the power system. The copper and aluminium are used for the manufacturing of the electrical bus bar.
The Asia-Pacific busbar market has developed as a result of technological advancements. Furthermore, the Asia-Pacific market is being propelled by the growing requirement of busbar for efficient conductivity and energy losses during transmission. On the other hand, rising duplicate products and cheap material from the competitor’s end has hampered the market's expansion. The development of smart cities is expected to create various opportunities for the growth of the Asia-Pacific busbar market. This would tend to keep the future of the market strong and advanced.
The busbar market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the busbar market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Busbar Market Scope and Market Size
The Asia-Pacific busbar market is segmented based on the conductor, weight-wise, shape-wise, insulation, length, busbar type, power rating, and end-user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of conductor, the Asia-Pacific busbar market is segmented into aluminum and copper. The copper segment is sub-segmented into transformers, rectifiers, generators, and others. In 2021, the copper segment is expected to dominate the market due to its property of thermal conductivity and expansion.
- On the basis of weight-wise, the Asia-Pacific busbar market is segmented into less than 1 kg and more than 1 kg. In 2021, the more than 1kg segment is expected to dominate the market due to wide usages of more than 1 kg in industrial usage for automotive sector.
- On the basis of shape-wise, the Asia-Pacific busbar market is segmented into rectangle and chamfer. In 2021, the rectangle segment is expected to dominate the market as it is used in power system connection that enhances the overall demand.
- On the basis of insulation, the Asia-Pacific busbar market is segmented into epoxy power coating, teonix, tedler, mylar, nomex, kapton, and others. In 2021, the epoxy powder coating segment is expected to dominate the market owing to its cost-effectiveness.
- On the basis of length, the Asia-Pacific busbar market is segmented into less than 1 m, 1m to 2m, 2 m to 3m, and more than 3m. In 2021, 1m to 2m segment is expected to dominate the market as it is providing energy-efficient supply.
- On the basis of busbar type, the Asia-Pacific busbar market is segmented into single conductor busbars, multiple conductor busbars, flexible busbars, and laminated busbars. In 2021, the laminated segment is expected to dominate the market as they are designed specifically for low and high power applications.
- On the basis of power rating, the Asia-Pacific busbar market is segmented into low power, medium power (125 A-800 A), and high power (above 800 A). In 2021, the low power segment is expected to dominate the market as it is widely used in manufacturing environments.
- On the basis of end-user, the Asia-Pacific busbar market is segmented into industrial, commercial, and residential. In 2021, the industrial segment market is expected to dominate the market due to its ability to produce independent power producers (IPPs) around the world that develops power plants to generate electricity that meets industrial demand.
Asia-Pacific Busbar Market Country Level Analysis
The busbar market is analyzed and market size information is provided by the conductor, weight-wise, shape-wise, insulation, length, busbar type, power rating, and end-user as referenced above.
The countries covered in the busbar market report are China, Japan, South Korea, India, Australia, Singapore, Indonesia, Thailand, Malaysia, Philippines, and rest of Asia-Pacific.
China dominates the market due to the rising demand for electricity across residential, commercial, and industrial sectors in the country.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Growing Requirement of Busbar for Efficient Conductivity and Energy Losses during Transmission is Boosting the Market Growth of Asia-Pacific Busbar Market.
The Asia-Pacific busbar market also provides you with a detailed market analysis for every country's growth in the particular market. Additionally, it provides detailed information regarding the market players’ strategy and their geographical presence. The data is available for the historic period 2010 to 2019.
Competitive Landscape and Asia-Pacific Busbar Market Share Analysis
Busbar market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width, and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to the busbar market.
The major companies which are dealing in the Asia-Pacific busbar market are ABB, General Electric, Schneider Electric, Legrand SA, Siemens AG, Eaton, Amphenol Corporation, Chint Group, Emerson Electric Co., Mersen Property, Methode Electronics, Oriental Copper Co., Ltd., Rittal Gmbh & Co. Kg, Rogers Corporation, and Sun. King Technology Group Limited. among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many business expansion and agreements are also initiated by the companies worldwide which are also accelerating the busbar market.
For instance,
- In October 2020, ABB expanded its UniGear ZS2 switchgear to the UniGear Digital with the entire single busbar portfolio of the UniGear medium-voltage (MV) switchgear with the digital version. The company enhanced its wide business portfolio by offering more switchgear panels with busbar. The company improved its wide business portfolio generating more income and profit.
- In August 2020, Schneider Electric completed its transaction for low voltage and industrial automation in the Low Voltage and Industrial Automation business with Larsen & Toubro’s Electrical & Automation business. The company offered a wide business portfolio that generates more income and profit.
Collaboration, product launches, award and recognition, joint ventures, and other strategies by the market player are enhancing the company footprints in the busbar market which also provides the benefit for the organization’s profit growth.
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