Global Copper Busbar Market is expected to Advance at a CAGR of 7.21% by 2028

Triton Market Research presents the Global Copper Busbar Market report sectioned by Application (Switchboards, Heat Sinks,  Motors & Generators, Transformers, Bus Ducts, Power Distribution Panel, Others), Vertical (Telecommunications, Electric Utilities, Automotive & Transportation, Data Centers, Other Verticals), Type (Oxygen-free Copper Busbars, ETP [Electrolytic Tough Pitch Copper Busbars], Other Types), Deployment (Industrial, Residential, Commercial), and by country outlook (Latin America, Asia-Pacific, Middle East and Africa, Europe and North America). The report further discusses the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter’s Five Forces Analysis, Key Buying Impact Analysis, Market Attractiveness Index, Vendor Scorecard, Industry Components, Key Market Strategies, Drivers, Challenges, Opportunities, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2022-2028).

Triton’s report suggests that the global market for copper busbar is estimated to witness growth at a CAGR of 7.21% over the forecast period.

Busbars can distribute power and are more easily adaptable than other installations. They are electrically conductive metallic strips made of copper, brass, or aluminum. Copper is a common conductive metal used in busbars due to its resilience to high temperatures, providing extra security during short-circuit situations.

The key drivers for the copper busbar market are rising construction activities worldwide, growing electricity utilization, industrialization & urbanization, and increasing investments in transmission & distribution infrastructure. The increase in construction activities is one of the main reasons for the increase in copper busbar demand. Besides, the growing sites lead to a huge demand for construction materials, leading to copper busbar demand.

However, the fluctuations in raw material prices impede the market’s growth. Following a 26.83% price increase in 2021, analysts predict copper prices will reach a record low in 2022. These price fluctuations are due to factors such as China’s economic recovery from the pandemic, sustainable green energy stimulates, and supply disruptions.

Globally, North America is expected to be the fastest-growing region in the copper busbar market. The region has witnessed considerable growth owing to its favorable policies. Industry players in the region are investing significantly in R&D activities to find new avenues for their products. The US is the leading country, accounting for a market share of 87.29% in 2021 due to a more developed venture capital market.

The established companies in the copper busbar market include Oriental Copper Ltd, Sofia Med SA, Kinto Electric Co Ltd, ElvalHalcor Hellenic SA, Aurubis AG, Luvata, Lafer Iberica Srl, ABB Ltd, Etablissements Gindre Duchavany SA, American Power Connection Systems Inc, Eaton Corporation plc, Schneider Electric SE, Promet AG, Wetown Electric Group, and Siemens Aktiengesellschaft.

There is intense competition among the existing players in the market. Many companies are adding differentiated features to their products to gain a competitive edge in the market. Therefore, the competition level among current market contenders is high.