MarketStudyReport.com Adds a New Global Busbar Market 2017 – 2024 research report providing information and data by material, by power range, by application, industry analysis report, regional outlook, competitive market share & forecast spreading across 500 Pages with table and figures in it.
Busbar Market will reach over USD 20 billion by 2024, according to a new research report.
Increasing demand for electrical conductor to carry large current within distribution board, substation, battery bank, switch board will stimulate the global busbar market. Ability to offer stiffness to allow effective cooling of conductors, lower assembly time, reduced complexity and ability to tap-in without creating a new joint institute a favorable business scenario.
The U.S. busbar market is projected to reach over 600 Kilo Tons by 2024. Growing spending toward the replacement and upgradation of electrical grid network to suffice the electricity demand will foster the industry growth. In 2016, Department of Energy funded USD 4 million for development of micro grid infrastructure in Chicago.
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Increasing development of smart cities have compelled utilities and installers to align their focus toward energy efficient electric infrastructure. Furthermore, favorable regulatory prospects in compliance to the labelling and eco-design reforms across developed economies will considerably foster the global busbar market share. Growing energy consumption along with rising concern toward transmission and distribution losses will further complement the industry landscape.
Increasing demand for reliable electricity from rural and urban areas along with introduction of several initiatives to support the installation of transmission and distribution network will augment the Asia Pacific busbar market. In 2015, Integrated Power Development Scheme has been introduced to provide financial support against capital investment to bridge the technological gap across sub transmission networks in India. Regulators across the nation have also set target to reduce T&D losses from 22% in 2015 to 15% by 2019.
The UK in 2016, accounted for over 10% of the Europe busbar market share. Growing demand for energy efficient electric equipment to establish a sustainable electric supply network will augment the business landscape. The government of UK introduced National Infrastructure Commission to formulate long term strategy to upgrade the existing infrastructure to accommodate the increasing population.
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Saudi Arabia busbar market is set to witness growth over 5% owing to the rapid expansion of power generation facilities across the nation. In 2017, Saudi electricity company announced to construct six power plant and build five interconnecting 380kV transmission lines in northern region of Saudi Arabia. A construction of five overhead lines required 1,376 miles of conductors at an estimated cost of USD 1.46 billion.
Key industry players across busbar market include Bhagyanagar India, Siemens AG, Godrej & Boyce Mfg., Southwire Company, Methode Electronics, C&S electric, ABB, Busbar power range Belgium, Oriental Copper, Schneider Electric, Littlefuse, Eaton, Legrand Group, Pentair, MERSEN, Halcor and Legrand.
Report Table of Content:
- Chapter 1. Methodology and Scope
- Chapter 2. Executive Summary
- Chapter 3. Busbar Industry Insights
- Chapter 4. Busbar Market, By Material
- Chapter 5. Busbar Market, By Power Range
- Chapter 6. Busbar Market, By Application
- Chapter 7. Busbar Market, By Region
- Chapter 8. Company Profiles
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Global Industrial Motor Busbar Market 2018-2022
the global industrial motor busbar market to grow at a CAGR of 4.52% during the period 2018-2022. Busbars are metallic strips made of copper or aluminum, which can conduct electricity and are used for power distribution. Industrial motor busbars are mainly used in motor control centers for supplying the power to motor protection devices such as soft starters, contactors, and drive systems
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