The Europe copper busbar market is projected to grow at a CAGR of 7.72% during the forecast period, 2022-2030. The copper busbar’s ability to withstand load surges and minimize wiring errors that help lower quality costs and the number of reworks drives its demand in the region. Also, the increasing demand for copper busbars is attributed to the higher current applications that need superior built-in corrosion resistance.
The United Kingdom, Germany, France, Italy, Spain, and Rest of Europe are analyzed for the Europe copper busbar market growth evaluation. In France, the growing investments in green building infrastructure to minimize GHG emissions and advantageous policies to promote energy-efficient technology promote market growth. Also, the increasing need for environmentally friendly methods of moving huge loads of current with minimal losses is set to supplement the market growth.
Italy is one of the most advanced countries with regard to the development and implementation of smart grid technologies and solutions, energy efficiency measures, and energy storage integration. Also, the rising number of smart city projects and platforms is set to boost the market growth. In addition, ’Italian Smart Cities,’ a platform by ANCI (Italian National Municipal Association), is the country’s most comprehensive tool for collecting urban innovation initiatives undertaken within municipalities. Such developments are expected to contribute to market growth.
Furthermore, the demand for electricity is on the rise in Spain across all sectors due to its electrification strategy. Besides, the services, residential, and industry sectors consume a significant amount of electricity. At the same time, the electricity generation in the country has decarbonized since the share of production of fossil fuels has lessened. This is set to aid the copper busbar market in gaining more market share in the renewable energy sector for long-term applications.
Some of the leading firms in the market include Promet AG, Luvata Oriental Copper Ltd, Schneider Electric SE, etc.
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