Middle East, North Africa, and Pakistan Bus Bar Market
Bus bars are extensively used in high current power supply, low voltage distribution, and control equipment, owing to its compact design. Due to the compact designs, bus bars require lesser space than conventional cabling systems. Furthermore, bus bars are used in various conductor types such as, panel boards, switchboards, bus-way systems, and low & medium voltage switchgear, among others.
Different bus bar systems such as double bus double breaker arrangement, main and transfer bus arrangement, and single bus-bar arrangement are easy to install and operate. Thus, high-rise buildings used for residential or commercial purposes prefer to use bus bars instead of conventional cabling. Furthermore, bus bars have significant advantages over cable such as, minimum spatial volume, improved electrical performance, ease of maintenance, fast installation, and energy savings in data center operation.
Market Dynamics
Bus bars are used in power infrastructure such as switchgear, substations, transformers, and other transmission and distribution (T&D) equipment. Bus bars are essential components in electrical power grids as these can decrease power loss by reducing the corona effect. The bus bar market is expected to exhibit growth at significant pace, owing to rising electricity demand from countries in the Middle East such as Saudi Arabia and the UAE. To meet the electricity demand, the Saudi Arabia is estimated to increase its power generation capacity from 77 GW in 2014 to 156 GW by 2040, according to Coherent Market Insights. In addition to this, in January 2014, ABB Ltd. received an order of US$ 60 million for substations that will boost the transmission capacity as well as supply electricity to King Abdullah Economic City (KAEC).
Furthermore, in MEA region, investment in power infrastructure is growing, with rising demand for electricity. For instance, in December 2018, Larsen & Toubro Limited (L&T), an Indian multinational conglomerate company, won a major order for the construction of 115kV substations with associated cable circuits and transmission lines in Saudi Arabia. The orders are for construction and other engineering job for power transmission and distribution (T&D) project. These projects either involve setting up of new plants and T&D network, leading to an increased demand for bus bars.
The price of copper depends on the ability of copper suppliers to extract and transport the product, as well as demand for goods and services that use copper. According to the International Monetary Fund (IMF) outlook 2018, an international organization, in 2017, the average price of copper was US$ 6,166 per metric ton compared to US$ 6,523 per metric ton in 2018. Furthermore, due to high fluctuations in copper and aluminum prices, key bus bar vendors have to use a major share of their manufacturing cost for acquiring these raw materials. According to Coherent Market Insights’ analysis, the total cost of copper and aluminum metals account for roughly 50% of the total production cost. The cost variations in the supply chain becomes critical for manufacturers, as there is no product differentiation and the price of a product determines the dominance of a supplier in the market. Hence, fluctuations in raw material prices is one of the major factors which is expected to hamper the market growth during forecast period.
Key features of the study:
Detailed Segmentation
“*” marked represents similar segmentation in other categories in the respective section.
*Browse 60 market data tables and 40 figures on " Middle East, North Africa, And Pakistan Bus Bar Market - forecast to 2027”.
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