저전력 부스바 시장 예측(-2030년) : 부스바 유형별, 정격 전류별, 형상별, 절연 재료별, 길이별, 최종사용자별, 지역별 세계 분석

According to Stratistics MRC, the Global Low Power Busbar Market is accounted for $8.0 billion in 2024 and is expected to reach $13.06 billion by 2030 growing at a CAGR of 8.51% during the forecast period. A low-power busbar is a critical component in electrical distribution systems designed to efficiently carry low-voltage power across various parts of an electrical installation. Low-power busbars, which are commonly employed in commercial and industrial applications that need power distribution, are very good at preserving electrical connections with little energy loss. Because these busbars are composed of highly conductive materials like copper or aluminum, power transmission is guaranteed to be effective. Compared to conventional wiring, low-power busbars' design enables small installations, requiring less space. Moreover, these systems are also strong, providing superior protection against electrical malfunctions and increased security.

According to the U.S. Energy Information Administration (EIA) reports that electricity consumption in the United States is expected to grow by 0.9% per year from 2020 to 2050, driven by population growth and economic expansion.

Market Dynamics:

Driver:

Growing interest in energy efficiency

An increased emphasis on cutting energy use across industries is a result of growing environmental sustainability concerns worldwide. Because low-power busbars reduce energy loss during power distribution and transmission, they are essential to this drive. Because of their effective design, which guarantees that less energy is wasted than with more conventional power distribution techniques like wiring, they are a crucial part of any business or industry trying to lower its carbon footprint. Additionally, industries are being forced to adopt more efficient and ecologically friendly power distribution solutions due to the demand for energy-efficient infrastructure, including low power consumption systems.

Restraint:

Expensive initial installation fees

An important barrier to the widespread use of low-power busbars is the comparatively high initial cost of installation. Long-term efficiency is achieved by low-power busbars, but their initial installation is costly, particularly when retrofitting older systems. When compared to conventional wiring systems, these busbars are more expensive due to the use of sophisticated manufacturing techniques and the price of materials like copper and aluminum. Furthermore, small and medium-sized businesses (SMEs) and budget-constrained industries may find this to be a major obstacle, as the initial capital investment may be a crucial factor.

Opportunity:

Developments in infrastructure for electric vehicle (EV) charging

The market for low-power busbars is poised for substantial growth due to the increasing use of electric vehicles (EVs). The demand for a robust and extensive charging infrastructure rises as more EVs are put on the road. EV charging stations can incorporate low-power busbars to guarantee effective power distribution, especially in locations with limited space or where energy efficiency is a top concern. Low-power busbars can also contribute to the safety and dependability of the charging stations, even in areas with heavy traffic. Moreover, low-power busbars are becoming an increasingly appealing option for EV infrastructure integration due to the continuous expansion of fast-charging networks and the increased emphasis on sustainable energy practices.

Threat:

Tough competition from conventional wiring methods

Traditional wiring systems pose a serious threat to low power busbars, despite their benefits in terms of efficiency, safety, and space savings. Traditional wiring techniques, like using copper or aluminum cables, are frequently thought to be more accessible, less expensive, and more recognizable to most engineers and installers. The apparent advantages of switching to low power busbars might not outweigh the related expenses and installation challenges for businesses that currently use conventional wiring infrastructure. Furthermore, unless there are strong, long-term financial incentives, businesses may be reluctant to abandon traditional wiring systems due to their established market presence, which could jeopardize the widespread adoption of low power busbars.

Covid-19 Impact:

Due to global supply chain disruptions and production and delivery delays, the COVID-19 pandemic had a major effect on the low power busbar market. Low-power busbars are frequently used in infrastructure and construction projects, which were slowed down by the lockdown procedures and movement restrictions. The pandemic's financial restrictions and economic uncertainty also caused industries to postpone or cancel investments in electrical infrastructure, which further slowed market expansion. However, as companies looked for long-term cost savings through more effective power distribution systems, the post-pandemic drive for modernization in the commercial and industrial sectors and the growing emphasis on energy efficiency helped to resurrect demand.

The epoxy powder coating segment is expected to be the largest during the forecast period

The epoxy powder coating segment is anticipated to hold the largest share in the low power busbar market. The market is dominated by epoxy powder coating because of its excellent insulating qualities, durability, and ability to protect against environmental factors like moisture, corrosion, and chemical exposure. This coating ensures long-term performance and reliability of busbars, making it ideal for various applications in industrial, commercial, and residential power distribution systems. Moreover, epoxy powder coating is the preferred option in the low-power busbar market due to the growing emphasis on energy-efficient power systems and the need for reliable insulation solutions.

The 2m to 3m segment is expected to have the highest CAGR during the forecast period

Due to its growing use in commercial and industrial applications where longer busbar lengths are necessary to effectively distribute power over wide areas, the 2m to 3m segment is anticipated to experience the highest CAGR. These busbars offer installation and design flexibility, facilitating a smooth integration into contemporary energy systems. Growing investments in smart grid infrastructure and renewable energy projects benefit the 2m to 3m segment as industries and infrastructure projects require larger and more scalable power distribution networks. Additionally, the segment's high market growth is a result of its ability to strike a balance between cost-effectiveness and efficiency.

Region with largest share:

The Low Power Busbar Market is expected to be dominated by the Asia Pacific region. Rapid urbanization, industrialization, and continuous infrastructure development in important economies like China, India, and Japan are the main causes of this dominance. Low-power busbar adoption has been fueled by the region's robust manufacturing base as well as an increasing need for energy-efficient solutions in the commercial and industrial sectors. The market's growth in this area has also been aided by government programs encouraging energy conservation as well as the expanding real estate and construction industries. Moreover, Asia Pacific is a major hub for low-power busbar demand because of its extensive infrastructure projects and emphasis on modernization.

Region with highest CAGR:

The Low Power Busbar Market is anticipated to grow at the highest CAGR in the Middle East and Africa (MEA) region. The region's growing emphasis on modernizing infrastructure, growing industrial sectors, and implementing energy-efficient solutions across a range of industries, including manufacturing, construction, and oil and gas, are the main drivers of this growth. The need for low-power busbars is also being fueled by ongoing urban development projects and government-led efforts to increase energy efficiency. Additionally, the MEA is positioned as a key region for rapid market expansion due to its growing commitment to sustainability and energy conservation as well as its increasing infrastructure investments.

Key players in the market

Some of the key players in Low Power Busbar market include ABB Ltd., Siemens AG, Schneider Electric, Eaton Corporation, Legrand S.A., General Electric, Mersen S.A., C&S Electric Limited, Godrej & Boyce Manufacturing Co. Ltd., Rittal GMBH & Co. KG, TE Connectivity, CHINT Electric Co. Ltd., Promet AG, EAE Elektrik and Effibar.

Key Developments:

In October 2024, Schneider Electric has formed a strategic partnership with Noida International Airport to introduce building and energy management solutions. Through this collaboration, Schneider Electric will roll out complete building management solutions, comprising Electrical SCADA and Advanced Distribution Management System, aimed at significantly boosting the airport's operational efficiency and sustainability.

In July 2024, Siemens AG and Boson Energy have signed a Memorandum of Understanding (MoU) to facilitate collaboration on technology that converts non-recyclable waste into clean energy. The collaboration aims to advance sustainable, local energy security, enabling hydrogen-powered electric vehicle charging infrastructure without compromising grid stability or impacting consumer prices.

In May 2024, ABB Canada and Powrmatic Canada Ltd announced a new regional distribution agreement. Powrmatic will provide electrical contractors increased access to a complete portfolio of cutting-edge ABB products and smart building solutions including, safety switches, switchboards, panelboards, amongst others, aimed at lowering energy consumption and ensuring electrical safety in residential and commercial buildings.

Busbar Types Covered:

• Rigid Busbars
• Flexible Busbars

Current Ratings Covered:

• Below 40 A
• 40 A to 60 A
• 60 A to 100 A
• 100 A to 125 A

Shapes Covered:

• Chamfer
• Rectangular

Insulation Materials Covered:

• Epoxy Power Coating
• Mylar
• Nomex
• Kapton
• Teonix
• Tedler

Lengths Covered:

• Less than 1m
• 1m to 2m
• 2m to 3m

End Users Covered:

• Industrial
• Commercial
• Residential

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 End User Analysis
• 3.7 Emerging Markets
• 3.8 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Low Power Busbar Market, By Busbar Type

• 5.1 Introduction
• 5.2 Rigid Busbars
  • 5.2.1 Copper
  • 5.2.2 Aluminum
  • 5.2.3 Copper-Clad Aluminum
• 5.3 Flexible Busbars
  • 5.3.1 Braided
  • 5.3.2 Laminated

6 Global Low Power Busbar Market, By Current Rating

• 6.1 Introduction
• 6.2 Below 40 A
• 6.3 40 A to 60 A
• 6.4 60 A to 100 A
• 6.5 100 A to 125 A

7 Global Low Power Busbar Market, By Shape

• 7.1 Introduction
• 7.2 Chamfer
• 7.3 Rectangular

8 Global Low Power Busbar Market, By Insulation Material

• 8.1 Introduction
• 8.2 Epoxy Power Coating
• 8.3 Mylar
• 8.4 Nomex
• 8.5 Kapton
• 8.6 Teonix
• 8.7 Tedler

9 Global Low Power Busbar Market, By Length

• 9.1 Introduction
• 9.2 Less than 1m
• 9.3 1m to 2m
• 9.4 2m to 3m

10 Global Low Power Busbar Market, By End User

• 10.1 Introduction
• 10.2 Industrial
  • 10.2.1 Utilities
  • 10.2.2 Manufacturing
  • 10.2.3 Telecom
  • 10.2.4 Aerospace and Defense
  • 10.2.5 Chemicals and Petroleum
  • 10.2.6 Metals and Mining
• 10.3 Commercial
  • 10.3.1 Offices
  • 10.3.2 Hospitals
  • 10.3.3 Malls and Supermarkets
  • 10.3.4 Data Centers
  • 10.3.5 Warehouses
• 10.4 Residential

11 Global Low Power Busbar Market, By Geography

• 11.1 Introduction
• 11.2 North America
  • 11.2.1 US
  • 11.2.2 Canada
  • 11.2.3 Mexico
• 11.3 Europe
  • 11.3.1 Germany
  • 11.3.2 UK
  • 11.3.3 Italy
  • 11.3.4 France
  • 11.3.5 Spain
  • 11.3.6 Rest of Europe
• 11.4 Asia Pacific
  • 11.4.1 Japan
  • 11.4.2 China
  • 11.4.3 India
  • 11.4.4 Australia
  • 11.4.5 New Zealand
  • 11.4.6 South Korea
  • 11.4.7 Rest of Asia Pacific
• 11.5 South America
  • 11.5.1 Argentina
  • 11.5.2 Brazil
  • 11.5.3 Chile
  • 11.5.4 Rest of South America
• 11.6 Middle East & Africa
  • 11.6.1 Saudi Arabia
  • 11.6.2 UAE
  • 11.6.3 Qatar
  • 11.6.4 South Africa
  • 11.6.5 Rest of Middle East & Africa

12 Key Developments

• 12.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 12.2 Acquisitions & Mergers
• 12.3 New Product Launch
• 12.4 Expansions
• 12.5 Other Key Strategies

13 Company Profiling

• 13.1 ABB Ltd.
• 13.2 Siemens AG
• 13.3 Schneider Electric
• 13.4 Eaton Corporation
• 13.5 Legrand S.A.
• 13.6 General Electric
• 13.7 Mersen S.A.
• 13.8 C&S Electric Limited
• 13.9 Godrej & Boyce Manufacturing Co. Ltd.
• 13.10 Rittal GMBH & Co. KG
• 13.11 TE Connectivity
• 13.12 CHINT Electric Co. Ltd.
• 13.13 Promet AG
• 13.14 EAE Elektrik
• 13.15 Effibar