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 According to IMARC Group’s latest report, titled “ Busbar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 ”, the global busbar market size reached US$ 17 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 22.8 Billion by 2027, exhibiting a growth rate (CAGR) of 4.9% during 2022-2027.

Busbar refers to an electrical conductor that is used to collect electric current from the incoming feeders and distribute it to outgoing feeders. It grounds and conducts electricity at the same time and connects several circuits in a system. Busbar is usually coated with materials that provide different conductivity limits and variations. The growing utilization of electricity across the industrial, commercial and industrial sectors is propelling the demand for busbars across the globe.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

A significant increase in the demand for uninterrupted and reliable power supply, along with the rising adoption of renewable energy sources for power generation, is primarily impelling the market growth. Furthermore, as busbars are reliable, cost-efficient, environment-friendly, require few installation materials, employ reusable and relocatable plug-in outlets, etc., they are gaining traction over cables. Besides this, the governments of various countries are increasing their investments in grid expansion and modernization. They are also implementing energy-saving programs to improve energy efficiency across commercial facilities. This is projected to further augment the market growth in the coming years. 

Busbar Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:

The competitive landscape of the global busbar market has also been examined along with the profiles of the key players.

Some of these key players include:

The report has segmented the busbar market based on power rating, conductor, end-user, industry and region.

Market Breakup by Power Rating:

North America (United States, Canada)

Europe (Germany, France, United Kingdom, Italy, Spain, Others)

Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)

Latin America (Brazil, Mexico, Others)

Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)

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Key highlights of the report:                                                    

Market Drivers and Success Factors

Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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