LONDON--(BUSINESS WIRE)--Technavio analysts forecast the copper busbars and profiles market in EMEA to grow at a CAGR of over 5% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the copper busbars and profiles market in EMEA for 2017-2021. To calculate the market size, Technavio analysts consider the volume through the sales of copper busbars and profiles in key applications in EMEA.
The busbar market is poised to grow during the forecast period owing to the developments in the power sector in EMEA. Busbars are used in power infrastructure such as switchgear, transformers, substations, and other transmission and distribution (T&D) equipment. With rising demand for electricity worldwide, investment in such infrastructure is growing. The global power sector expects a rise in power generation and T&D projects. These projects either involve setting up of new plants and T&D network, or expanding and revamping of the same, leading to an increased demand for busbars.
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Technavio chemicals and materials analysts highlight the following three factors that are contributing to the growth of the copper busbars and profiles market in EMEA:
- Growth in power and electrical equipment sector
- Growing economies in EMEA
- Conductivity properties of copper
Growth in power and electrical equipment sector
The electrical and power equipment sector requires copper busbars and profiles in power generation stations to connect the generator to step-up transformers and the transformers to switchgear. These busbars are consumed in transmission, power generation, and distribution equipment. The increase in demand for electricity and their subsequent expansions of electricity T&D networks will bring more power generation plants online.
Swapnil Tejveer Sharma, a lead metals and minerals analyst at Technavio, says, “The government in these countries have liberalized investment norms thereby encouraging private sectors to play a vital role in the growth of various industries. The growth in the power generation, telecommunications, natural gas exploration, and petrochemicals will further increase urbanization in these countries.”
Growing economies in EMEA
Countries in the Middle East such as Saudi Arabia and the UAE have derived strong revenues from the oil sector that led to the healthy GDP growth rates. In 2015. the GDP growth rate of Saudi Arabia was 3.9%, and that of the UAE was 4.6%. The GDP of these developing countries are anticipated to grow further during the forecast period due to increase in revenues from crude oil. Other dominating countries in EMEA such as Russia, Poland, Nigeria, and South Africa show steady growth in terms of infrastructure development related to T&D.
“The government in these countries have liberalized investment norms thereby encouraging private sectors to play a vital role in the growth of various industries. The growth in the power generation, telecommunications, natural gas exploration, and petrochemicals will further increase urbanization in these countries,” adds Swapnil.
Conductivity properties of copper
Copper has excellent corrosion resistance, heat transfer capability, and machinability. Copper possess higher conductivity than aluminum and is more ductile with relatively high tensile strength than aluminum.
Copper requires little maintenance. This low maintenance property of copper products is an essential factor when it is considered for a closed system with 20-30 years of life span. Copper also has the strength to withstand fluid pressures in large transformers.
Top vendors:
- Aurubis
- Gindre
- Luvata
- Oriental Copper
- Sofia Med (Halcor Group)
- Copper and copper alloys Semifinished Products
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- Global Aluminum Plates and Sheet Coils Market 2016-2020
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