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The Busbar Global Market Report 2023, provides comprehensive information on the busbar market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
Learn More On The Busbar Market’s Growth:
https://www.thebusinessresearchcompany.com/report/busbar-global-market-repor
The global busbar market size 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 Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global busbar market size is expected to reach $20.82 billion in 2027 at a CAGR of 5.3%.
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Product innovation is a key trend gaining popularity in the busbar market. Companies operating in the busbar market are moving towards developing innovative products to improve efficiency and sustain their position in the market. For instance, in February 2020, ABB Ltd., a Switzerland-based automation company, launched laminated bus plate technology for low-voltage switchgear. The laminated bus plate transmits current inside LV switchgear effectively. It enables the switchgear manufacturer or panel builder to improve the quantity or size, of features that are significant to the end user while combining the high capability of transferring high current in a small size. ABB substituted a laminated bus plate for the conventional horizontal and vertical busbar arrangements in the new switchgear. With this novel technique, safety is elevated to an unprecedented degree, among many other advantages.
The busbar market is segmented:
1) By Material: Aluminum, Copper, Brass
2) By Power Rating: Low, Medium, High
3) By End-User: Utilities, Industrial, Residential, Commercial
North America was the largest region in the busbar market in 2022.
The table of contents in TBRC’s busbar market report includes:
1. Executive Summary
2. Busbar Market Characteristics
3. Busbar Market Trends And Strategies
4. Busbar Market – Macro Economic Scenario
5. Busbar Market Size And Growth
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26. Africa Busbar Market
27. Busbar Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Busbar Market
29. Busbar Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
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