Sunday 7 June 2020

Qatar busbar market set for 12pc growth

NEW YORK, August 7, 2016

High per capita electricity consumption coupled with growing infrastructure development and booming industrial sector will drive Qatar’s busbar market to grow at a CAGR of 12 per cent during 2016 – 2021, a report said.

Rising population in the country is driving demand for air conditioners, refrigerators and other electric appliances, which is consequently boosting electricity consumption, and thereby driving busbar market in Qatar, added the report titled "Qatar Busbar Market By Type, By End User, Competition Forecast & Opportunities, 2011 - 2021" from TechSci Research, a leading global market research firm.

Anticipated growth in per capita electricity consumption coupled with strengthening of power distribution and transmission system in the country are expected to continue boosting Qatar busbar market during the forecast period. With the rollout of National Vision 2030, Qatar has planned to make huge investments in building infrastructure pertaining to utilities as well as residential and industrial sectors in the coming years.

Further, demand for busbars would also be stimulated over the next five years with various construction and infrastructure projects being undertaken for hosting FIFA World Cup 2022 in the country, the report said.

Low power busbar (up to 125 A) accounted for the largest share in Qatar busbar market in 2015, followed by high and medium power busbar segments.

Qatar Electricity & Water Company is planning to invest $22 billion in strengthening and expanding the country's power and water infrastructure by 2019. Moreover, total electricity production in Qatar is likely to surpass 11,000 MW by the mid of 2018, thereby boost demand for busbars in the country in the coming years.

Accounting for a value share of more than 40 per cent in 2015, Doha province dominates the busbar market in Qatar, and the region is forecast to continue its dominance during the forecast period.

“Qatar is developing its refinery and petrochemical processing infrastructure in order to promulgate industrial diversification, which calls for the development of electrical infrastructure, including building new power plants and transmission and distribution network, consequently boosting demand for busbars in the country.

"Owing to continuing growth in residential, industrial and commercial segments, coupled with initiation of smart power distribution and transmission systems and integration of renewable energy to the country's grid infrastructure, demand for busbars in Qatar is expected to grow in the coming years,” said Karan Chechi, research director with TechSci Research.

The report has evaluated the future growth potential of busbar market in Qatar and provides statistics and information on market structure, industry behaviour and trends. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities available in Qatar busbar market. – TradeArabia News Service

Tags: Qatar | Power generation |

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