PUBLISHER: Inkwood Research | PRODUCT CODE: 1462420
PUBLISHER: Inkwood Research | PRODUCT CODE: 1462420
The United States copper busbar market is set to register a CAGR of 7.49% during the forecast period, 2024-2032. The government initiatives associated with the energy sector are projected to drive market growth in the United States.
In the United States, the Department of Energy has made significant investments in developing new energy technologies with the help of national laboratories and funding to supplement energy solution firms in expanding their operations. For instance, the US Department of Energy (DOE) announced over $24 million in funding for 77 projects in June 2019, supplemented by the Technology Transition Fund (TCF) Office of Technology Transitions (OTT). Such projects will advance the commercialization of promising energy technologies and reinforce partnerships to deploy these technologies with appropriate private-sector funds.
The United States copper busbar market segmentation includes application, end-user, deployment, and material type. The end-user segment includes data centers, electrical utilities, telecommunication, automotive & transportation, and other end-users. With regard to automotive & transportation, the assembly of a vehicle encompasses switchboards, batteries, and inner circuits. Also, vehicle components are made of busbars for energy and electric transportation in vehicles. As a result, copper busbars are an essential part of vehicle components.
Some of the prominent firms in the market include Oriental Copper Ltd, Promet AG, Eaton Corporation Plc, Luvata, etc.