Busbar Market to Undertake Strapping Growth During 2024
Busbar
connectors are typically metallic strips or bars which provide the
means of distributing power within a system. They are composed of
metal or metal alloys which exhibit high conductivity such as brass,
aluminum, or copper. These elements, along with insulators, are used
to connect the electrical loads and power supply in an electrical
system. A busbar must be designed so as to support its own weight and
also resist mechanical vibrations, thermal fluctuations, and magnetic
forces caused by large electric currents. Busbars are used in a
variety of systems involving the consumption of electric power. They
aid the conduction of electricity in a power grid while
simultaneously reducing power loss.
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The
material composition of the busbar and its cross-sectional dimensions
regulates the current rating of the system. Due to the skin effect,
busbars generally comprise a thin or hollow cross-section. They are
usually enclosed in switchgears, panel boards, busway enclosures, or
any establishments. Busbars can also be employed to connect high
voltage equipment at electrical switchyards. Rising demand for
busbars from the transportation industry is poised to be the key
driving factor for this market, with solid aluminum busbars being
extensively used to connect batteries to electrical components.
Busbars
are more energy-efficient than cables and hence preferred for power
distribution purposes. The global busbar market can be segmented into
the low power, medium power, and high power types, based on the power
rating of the busbars. The low power segment is expected to provide
lucrative opportunities over the next decade due to their increasing
consumption to supply power to residential and industrial
establishments. The rising global use of electric vehicles is
anticipated to provide new opportunities to the busbar market in the
next few years due to the prevalence of aluminum connectors in
electrical vehicles. The presence of multiple companies in the
unorganized sector offering lower quality and cheaper products
restricts the development of the busbar market. Fluctuating raw
material prices and lack of infrastructural development in several
countries in Africa & Asia present challenges as well.
Demand
for busbars is considerable in Asia Pacific. China is the dominant
country in the market in terms of both, production and consumption.
India, Thailand, and Malaysia are increasing their consumption of
busbars at a rapid rate due to the rising industrialization in these
countries. They are investing heavily in order to upgrade their power
infrastructure which, in turn, is anticipated to drive the busbar
market. The market in North America and Europe is relatively mature
due to the established high standard of energy infrastructure. The
growing use of electric and hybrid electric vehicles in developed
countries due to environmental regulations is likely to boost the
demand for busbars. The market in the Middle East is likely to
witness sluggish growth in the next few years due to the slowdown in
the oil & gas industry. In Latin America, Mexico and Brazil are
poised to observe growth in the busbar market due to the development
of key end-use industries. Countries in Africa offer significant
potential for the busbar market due to the poor infrastructure and
increasing investments in power and utilities in this region.
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Key
players in this market are China Electrics Co. Ltd., Rittal GMBH &
Co. KG, Legrand S.A., TE Connectivity Ltd., Power Products LLC.,
Siemens AG, ABB Ltd., Schneider Electric SE, Eaton Corporation Plc.,
and Mersen S.A. In addition, a number of companies in the unorganized
sector, particularly in China and India, are involved in the
manufacture of busbars.
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