The analysts forecast global industrial motor busbar market to grow at a CAGR of 4.52% during the period 2018-2022. The latest trend gaining momentum in the market is growing need for power monitoring.
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As power utilization cost in the process and discrete industries is high, monitoring the power consumption is very essential.
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The increasing regulations regarding the installation of energy-efficient products have reduced energy consumption considerably. Power monitoring helps industrial manufacturers set the baseline and take necessary steps to reduce power consumption, thereby reducing the potential cost of power.
Standalone devices for power monitoring can be mounted on motor control centers and busbars to fetch the data regarding the total power consumption. This data helps in making energy-efficient decisions and reduce the overall power consumptions.
Major key players in the global industrial motor busbar market: ABB, Eaton, General Electric, Schneider Electric, Siemens, and Legrand.
According to the industrial motor busbar market report, one of the major drivers for this market is Increasing preference for busbars over cables. As motor control centers and motor controllers have various arrangements of devices such as soft starters, contactors, circuit breakers, and drive systems; using wires increases the space requirement and adds to the weight of the overall motor control center.
Moreover, wire systems often complicate the connection of motor starters and other protection devices. With the increasing focus toward uninterrupted power supply and maximum space utilization, motor busbars are used in motor control centers.
Further, the industrial motor busbar market report states that one of the major factors hindering the growth of this market is High fluctuations in copper and aluminum prices. The primary raw materials that constitute an industrial motor busbar are copper and aluminum.
All motor busbar vendors incur a major share of their manufacturing cost for acquiring these raw materials. The total cost of copper and aluminum metals account for roughly 50% of the total production cost.
Report at www.reportsnreports.com/.aspx?name=1317625.
Key questions answered in this report:
- What will the market size be in 2022 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
Few Points from List of Exhibits Provided in Global Industrial Motor Busbar Market 2018-2022:
Exhibit 1: Parent market
Exhibit 2: Global industrial motor busbar market
Exhibit 3: Market characteristics
Exhibit 4: Market segments
Exhibit 5: Market definition - Inclusions and exclusions checklist
Exhibit 6: Market size 2017
Exhibit 7: Validation techniques employed for market sizing 2017
Exhibit 8: Global Market size and forecast 2017-2022 ($ mn)
Exhibit 9: Global Year-over-year growth 2018-2022 (%)
Exhibit 10: Five forces analysis 2017
Exhibit 11: Five forces analysis 2022
Exhibit 12: Bargaining power of buyers
Exhibit 13: Bargaining power of suppliers
Exhibit 14: Threat of new entrants
Exhibit 15: Threat of substitutes
Exhibit 16: Threat of rivalry
Exhibit 17: Market condition - Five forces 2017
Exhibit 18: Product Market share 2017-2022 (%)
Exhibit 19: Comparison by product
Exhibit 20: Copper busbar Market size and forecast 2017-2022 ($ mn)