Busbar Market to grow at a CAGR of 5.41% by 2020
ReportnReports has made available a new market research report titled “Busbar Market by Power Rating, End User & by Region – Global Trends & Forecasts to 2020”.
According to the report, the global busbar market is expected to grow at a CAGR of 5.41% in the forecast period between 2015 and 2020.
Busbar is an electro-mechanical device used for transferring electric power in short range of distances, such as connecting a generator to a step-up transformer or connecting a transformer to switchgear.
Asia-Pacific leads the busbar market globally with the biggest market share and is expected to grow with a high CAGR among the other regions. The report also predicts a good grid modernization market for the busbars in the developed regions like North America and Europe.
Some of the key companies profiled include ABB Ltd. (Switzerland), Eaton Corporation (Ireland), Schneider Electric SE (France), Siemens AG (Germany), and Legrand (France), among others.