Europe Busbar Market to Potentially Reach US$ 5,294.2 Million by 2027, Impelled by Growing Smart Cities Initiatives
According to the latest report by IMARC Group, titled “Europe Busbar Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the Europe busbar market size reached US$ 3,599.6 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 5,294.2 Million by 2027, exhibiting a growth rate (CAGR) of 6.7% during 2022-2027.
Busbar Market in Europe 2022:
Busbar represents strips of conductive materials custom-built for collecting and distributing electric power from feeders. It is available in high, medium, and low power ratings and is composed of copper or aluminum conductors. Busbar strips are utilized in electrical installations to distribute power from a supply point to various output circuits. They are even used to connect high voltage equipment at electrical switchyards and low voltage equipment in battery banks. As a result, busbar materials find widespread applications across numerous sectors, including chemical, petroleum, metals and mining, hospitals, manufacturing, etc.
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The inflating investments for establishing effective power supply networks and smart distribution systems are primarily driving the Europe busbar market. Besides this, the development of smart cities is also positively influencing the market growth. Additionally, the elevating urbanization levels, the commercialization of the business landscape, and the escalating demand for electricity are further stimulating the regional market. Moreover, the increasing need for cost-effective conductors with fast installation services and reduced downtime is acting as another significant growth-inducing factor. Apart from this, the expanding requirement for energy-efficient systems across the commercial sector and the shifting consumer preferences towards laminated product variants are expected to propel the Europe busbar market over the forecasted period.
Competitive Landscape with Key Players:
The competitive landscape of the Europe busbar market has been studied in the report with the detailed profiles of the key players operating in the market.
Key Highlights of the Market Segmentation:
The report has segmented the Europe busbar market on the basis of power rating, conductor, end user, industry and country.
Breakup by Power Rating:
- High
- Medium
- Low
Breakup by Conductor:
- Copper
- Aluminium
Breakup by End User:
- Industrial
- Commercial
- Residential
- Utilities
Breakup by Industry:
- Chemicals and Petroleum
- Metals and Mining
- Manufacturing
- Others
Breakup by Country:
- Germany
- France
- United Kingdom
- Italy
- Spain
- Others
Explore Report Description with TOC & List of Figure: https://www.imarcgroup.com/europe-busbar-market/toc
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- 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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Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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