LONDON--(BUSINESS WIRE)--The global industrial motor busbar market is expected to grow at a CAGR of close to 5% during the period 2018-2022, according to a new market research study by Technavio.
The report categorizes the global industrial motor busbar market by product (copper busbars and aluminum busbars) and by end-user (oil and gas, food and beverage, metal and mining, and power generation). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
Save more with Technavio. Buy 2 reports and get the third for free: View Technavio’s latest discounts and promotions
Market driver: flexibility in arranging protective and power switching devices
The arrangement of protective and power switching devices differs in centralized and decentralized electrical equipment. Centralized equipment such as industrial machinery, which works as a complete unit has a large power demand while separate units such as water and wastewater machinery and HVAC require less power and small loads. Decentralized equipment such as blowers and conveyors require smaller individual loads. Motor control centers accommodate different combinations of protective and power switching devices for both centralized and decentralized equipment as per the application and load requirements.
According to a senior analyst at Technavio for automation research, “The motor busbar system acts as an energy supply for the protective and power switching devices. In addition, instead of individual wires, these systems use copper or aluminum busbars on which these protective devices are mounted. The protective devices have holders so that they can be easily mounted and removed, in case of servicing, without any need to completely stop the motor control center for a longer duration. This provides flexibility in arranging the protective device in motor control centers.”
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Market trend: growing need for power monitoring
As power utilization cost in the process and discrete industries is high, monitoring the power consumption is very important. The increasing regulations regarding the installation of energy-efficient products have reduced energy consumption significantly. Power monitoring aids 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 assists in making energy-efficient decisions and reduce the overall power consumption.
Market challenge: high fluctuations in copper and aluminum prices
The major 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 approximately 50% of the total production cost. The cost of copper is largely determined by the capability of metal suppliers to extract and transport the metal and by the demand for goods and services that use copper.
Is your business on track for a successful future? Learn how Technavio can help
Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions.
Some of the companies in the global industrial motor busbar market:
- ABB
- Eaton
- General Electric
- Schneider Electric
- Siemens
- Legrand
|
Big savings with Technavio this February!
Get 20% OFF on all Education Technology reports. This offer is valid only till the 28th of this month.
OR
Celebrate winter sports with 23% OFF all reports in our Outdoor Gear library (Offer valid from Feb 9-25). |
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
