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Global busbar market to reach $16M by 2020

8/5/2015 Markets and Markets

According to the report, the global busbar market is estimated to reach $16,038.6 million by 2020 from $12,321.9 million in 2015, reports Markets and Markets.

Rising demand for power and growth in the construction industry are considered as the major growth opportunity for the busbar market. However, the availability of a cost effective alternative like power cables can limit the growth of this market.

Strict environmental regulations to use energy efficient electrical equipment in new building constructions will boost up the growth of global busbar market.

Source: Markets and Markets