According to the research report titled ‘Busbar Market Size By Material {Copper (Electrolytic Tough Pitch, Oxygen Free), Aluminum}, By Power Range (Low, Medium, High), By Application (Commercial, Residential, Industrial) Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, Russia, Italy, Spain, France, Germany, Sweden, Saudi Arabia, UAE, Iran, Qatar, Iraq, Oman, Turkey, South Africa, Egypt, Nigeria, Algeria, China, India, Japan, Australia, South Korea, Malaysia, Indonesia, Singapore, Thailand, New Zealand, Philippines, Brazil, Peru, Argentina), Competitive Market Share & Forecast, 2019 – 2025’, available with MarketStudyReport, busbar market is anticipated to exceed USD 24 billion by the end of the forecast timeframe, 2019-2025.
 

Growing emphasis on minimizing energy transmission & distribution losses and surging demand for reliable & uninterruptible energy are expected to drive busbar market growth over the projection timespan. Moreover, constant investments in energy infrastructure projects and expanding urban population will enhance market outlook in coming years.
 

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Increasing adoption of smart grid technologies, and upgradation of transmission networks will further augment the market remuneration scope. The demand for busbar is creditable to benefits such as faster installation, minimal fire risks, flexibility of tap-off locations, environmental friendliness, capacity to carry bulk power over long distances, and lower heat dissipation.
 

Based on material, busbar market from aluminum segment will witness strong year-over-year growth rate of over 6% during the forecast period due to the wide applicability aluminum busbar in large-power overhead transmission networks. Advantages like cost-effectiveness, low weight, great mechanical strength, and capacity to transport heavy load current over longer distances are likely to support these products.
 

Oxygen free copper segment will expand due to the product’s wide applicability in high vacuum devices, plasma deposition techniques, semiconductor, super conductor components. Moreover, key features such as good weldability, high electrical & thermal conductivity, and low oxygen content are driving the demand.
 

With respect to power range, the growth of low power segment will be boosted by rising demand for switchboards and distribution panels across residential, industrial, and utility sectors. When compared to counterparts, ability to transfer electricity efficiently to light fixtures with minimum losses and industrial development combined with refurbishment and renovation of commercial premises will accelerate product adoption in the upcoming years.
 

In terms of application, industrial application accounted for more than 40% of busbar market share in 2018 because of increased efforts to reduce energy usage, as well as huge investments in modernization of supply networks. Moreover, high efficiency, easy installation, and small footprint will continue to drive product adoption for industrial use-cases.
 

Considering the competitive landscape, Eaton Corporation plc, C&S Electric Ltd., Southwire Company, Legrand Group, Siemens AG, Pentair plc, Methode Electronics, Littelfuse Inc., Godrej & Boyce Mfg. Co. Ltd., ABB Ltd., Schneider Electric SE, Halcor S.A., and Oriental Copper Co. Ltd. are among the major companies influencing the market trends.