The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Rising worry about energy losses in electric gearbox is projected to drive innovation in busbar manufacture, boosting the market during the forecast period.

The global busbar market is expected to grow from $15.92 billion in 2022 to $16.93 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The global busbar market size is expected to reach $20.82 billion in 2027 at a CAGR of 5.3%.

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Global Busbar Market Segments Include:

• By Material: Aluminum, Copper, Brass
• By Power Rating: Low, Medium, High
• By End-User: Utilities, Industrial, Residential, Commercial
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global busbar market in 2021.

Major Market Players in the busbar market include Siemens AG, ABB Ltd, Schneider Electric SE, Eaton Corporation plc, TE Connectivity, Legrand S.A, Mersen, CHINT Group Co Ltd, C&S Electric Ltd., Rogers Corporation, Friedhelm Loh Group.

Product innovation is a crucial trend that is gaining traction in the busbar market. Companies in the busbar market are focusing on developing innovative products to boost efficiency and maintain their market position. ABB Ltd., a Swiss automation business, for example, launched laminated bus plate technology for low-voltage switchgear in February 2020. The laminated bus plate effectively conducts current within LV switchgear. It enables the switchgear manufacturer or panel builder to increase the number or size of features that are important to the end user while combining strong current transfer capacity in a small size. In the new switchgear, ABB used a laminated bus plate instead of the traditional horizontal and vertical busbar layouts. Among many other benefits, this revolutionary approach increases safety to an unparalleled level.

The Busbar Global Market Report 2023  provides a busbar market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The busbar market forecast analyzes busbar market size, busbar market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A busbar is a metallic strip or bar that conducts and transmits electrical current in a power distribution system. It is often made of copper or aluminium and is designed to carry a large amount of electricity.

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