Thailand Busbar Market (2024-2030) | Companies, Revenue, Industry, Analysis, Forecast, Trends, Growth, Size, Share & Value

Thailand Busbar Market Synopsis

Before the pandemic, the Thailand Busbar market experienced substantial growth, driven by rising demand from the manufacturing, industrial, and power sectors. For instance, in 2019, Thailand's manufacturing output reached US$ 139.39 billion with developments such as, Toyota completing its HEV battery production plant in Chachoengsao province, Fuji Electric finishing its 3rd factory project in Thailand among others contributing in a significant manner. However, the COVID-19 pandemic caused a temporary slowdown in 2020 due to supply chain disruptions and reduced demand caused by lockdowns. Furthermore, market recovery began in 2021 with the easing of restrictions, resulting in the manufacturing sector's output reaching US$ 137.40 billion in 2021, up from US$ 127.89 billion in 2020 which had a positive impact on the busbar market.

According to 6wresearch, Thailand Busbar market size is projected to grow at a CAGR of 5.4% during 2024-2030F. The busbar market in Thailand is experiencing significant growth, primarily fueled by the government's substantial investment of US$ 9.6 billion in the development and expansion of the transmission system. Additionally, Thailand is expected to attract investments totalling approximately US$ 5.5 billion in the data center industry, with the data center capacity anticipated to reach 500 MW by 2028, up from 157 MW in 2023. Furthermore, as per the Thailand Board of Investment (BOI), applications for investment promotion in the first half of 2023 increased by 70% year on year in value, reaching US$ 10.3 billion. Global companies continue to find Thailand as a potential manufacturing base in targeted industries, such as electronics, food processing, automotive etc.

The investments would lead to the construction of new manufacturing and industrial facilities, resulting in a higher demand for power distribution systems, control panels, switchgear, and other electrical systems. This, in turn, would further increase the demand for busbars in Thailand in the upcoming years owing to their extensive use in power distribution and other electrical systems.

Market Segmentation by Conductor

Copper is anticipated to experience the highest growth within the forecasted time frame due to its superior electrical conductivity, enabling the efficient flow of electrical current with minimal resistance. This characteristic renders copper especially advantageous for applications in the utilities, industrial, and manufacturing sectors.

Market Segmentation by Power Rating

Medium power has occupied a major share, primarily driven by increased consumption in industrial, utilities, and commercial sector projects such as the completion of  Murata Manufacturing Co. and  Sanhua Industry (Thailand) Co. factories in 2023. Furthermore, the increased investment by government in transmission project which is expected to significantly boost the segment's growth.

Market Segmentation by End User

Utilities, sector accounts for a major revenue share in the Thailand Busbar market owing to the prominent requirement of bus bars in power transmission and distribution projects. The advancement in Thailand smart grid projects in Thai provinces such as Mae Hong Son, Lampang, and others. The development is expected to significantly boost the segment's growth in years to come.

Key Attractiveness of the Report

• 10 Years of Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Thailand Busbar Market Overview
• Thailand Busbar Market Outlook
• Thailand Busbar Market Forecast
• Historical Data and Forecast of Thailand Busbar Market Revenues, for the Period 2020-2030F
• Historical Data and Forecast of Thailand Busbar Market Revenues, By Conductor, for the Period 2020-2030F
• Historical Data and Forecast of Thailand Busbar Market Revenues, By Power Rating, for the Period 2020-2030F
• Historical Data and Forecast of Thailand Busbar Market Revenues, By End User, for the Period 2020-2030F
• Industry Life Cycle
• Thailand Busbar Market – Porter’s Five Forces
• Market Drivers and Restraint
• Market Trends
• Market Opportunity Assessment
• Company Revenue Ranking
• Market Competitive Benchmarking
• Company Profiles

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Conductor

• Copper
• Aluminium

By Power Rating

• Low Power (Below 125A)
• Medium Power (125A – 800A)
• High Power (Above 800A)

By End User

• Residential
• Commercial
• Utilities (Power Generation & Transmission)
• Industrial (Metal & Mining, Oil & Gas, Chemical & Petrochemical)
• Manufacturing (Automotive, Textile, Food Processing, Electronic)