Copper Busbar Market: Sales and Competitors Analysis 2022

1
Copper Busbar Market Sales Competitors
Analysis Building and Construction 13, October
2022 Busbar has become one of the
cutting-edge solutions for electricity and
power. It finds numerous opportunities from
smart city development and power sector reforms,
resulting in upgraded and advanced transmission
and distribution networks. Globally, the copper
busbar market was valued at 8012.88 million in
2021 and is expected to reach 12788.58 million
by 2028, with a CAGR of 7.21 between 2022 and
2028.
Due to its high conductivity, elasticity and
resilience to high temperature, copper is highly
used in busbars worldwide. Although it has
high installation charges, it provides
higher conductivity and an extended life span
than aluminum. Moreover, its usage in industrial
and commercial facilities are designed to reduce
costs while keeping their size at the maximum
permissible level based on safety
considerations. Expansion in Industry
Verticals The studied market is driven by the
adoption of smart cities and other similar
projects, as they are more convenient to
use without the hassle of wires.
Rapid urbanization and commercialization of
the business landscape are also expected to steer
traction as the demand for electricity rises.
2

• Additionally, increased construction activity
  leads to an increased number of sites,
  which drives demand for copper busbars in the
  sector. Residential construction expenditure
  was nearly 25 in 2021 and is risen by 7
  in 2022. Moreover, it is used as a
  construction material for electricity
  transportation and wiring. These factors
  encourage the expansion of the market across
  various industry verticals. Some of these are
  listed below
• The industrial sector has emerged as
  the fastest-growing deployment vertical
  category. As industries shift towards
  electrification in transportation, mobility
  and renewable energy, it becomes more critical
  that power modules used for inversion or
  conversion become more efficient. To maximize
  efficiency, busing the power into and out of
  the power inversion circuit becomes a
  critical element that must be
  incorporated into the overall system design.
  For instance, DC link busbar designs must
  minimize stray inductance to minimize voltage
  spikes and allow faster switching speeds to
  improve efficiency in high-voltage applications.
• The market for ETP (Electrolytic Tough
  Pitch copper) is rising as the fastest-
  growing type, with a CAGR of 7.32 during
  the forecast period 2022-2028. It accounts
  for 50 of usage worldwide. ETP has higher
  purity, used in the most demanding
  electrical applications, such as power
  transmission and signals. Besides superior
  conductivity, it also has high corrosion
  resistance, tensile strength, elongation and
  shining appearance.
• As per estimates, the switchboard is the
  fastest-growing in the application segment.
  Switchgear copper busbars deliver the power
  from the incoming feeders to all the branch
  overcurrent protection circuits within
  installation. When a circuit breaker or
  switch retrofit is required for application,
  custom-designed switchgear copper busbars may be
  used to easily install newer breaker frame
  sizes, switches, solid-state trip units, or
  other custom overcurrent protection.
• Globally, electric utilities lead the
  vertical segment in 2021 and are expected
  to maintain their stronghold during the
  forecast period. The electrical copper bar
  products produced by many companies, as
  high-current conductive products, can be applied
  to electrical engineering, such as
  high-and-low-voltage electrical appliances,
  switch contacts, complete power distribution
  cabinets, bus ducts, etc., and are also
  widely used in metal smelting, electrochemical
  plating, chemical caustic soda, etc.
• Concluding Statement
• Geographically, the Asia Pacific copper busbar
  market is expected to grow at the fastest rate.
  The regional market is expected to rise with the
  growing emphasis on energy efficiency and rising
  energy consumption. This is due to urbanization
  and industrial growth in the region. Also, due to
  massive investments in smart cities, green
  development, high-rise structures, and transit
  infrastructure, particularly in Southeast Asia,
  the region holds the largest market for busbar
  trucking.
• On the other hand, although copper busbars are
  reliable in terms of technology, conductivity,
  compactness, elasticity, prices in the long term,
  durability and flexibility, the constant price
  fluctuations in raw materials can hinder market
  growth. Following a 26.83 price increase in
  2021, analysts predict copper prices will
  reach a record low in 2022. Nevertheless,
  the studied market will see the emergence
  of regional Asian-Pacific vendors offering
  cost- effective products. As a result, operating
  players are participating in acquisitions,
  contributing to the copper busbar market. Key
  acquisitions are listed below-

3

• In June 2022, EV Connect, Inc., an EV charging
  solution provider, announced that it had been
  acquired by Schneider Electric, the leader
  in energy management and automation.
• In January 2022, Power management company Eaton
  announced it had completed the acquisition of
  Royal Power Solutions, a US-based
  manufacturer of high-precision electrical
  connectivity components used in electric
  vehicle, energy management, industrial and
  mobility markets.
• FAQ
• Q1) Which is the largest growing region in the
  market? North America dominates the copper busbar
  market.
• Q2) How is the bargaining power of buyers in the
  market?
• The bargaining power of buyers is moderate
  because customers demand customized services