PUBLISHER: Inkwood Research | PRODUCT CODE: 1462421
PUBLISHER: Inkwood Research | PRODUCT CODE: 1462421
The North America copper busbar market is set to record a CAGR of 7.45% during the forecast period, 2024-2032. The demand for copper busbar in North America is due to the vast commercial applications including electricity conduction in residential and commercial places and shipbuilding. Also, the increased R&D and industry collaborations offer growth opportunities. However, the market growth is restrained by the slow growth of the automotive industry.
The North America copper busbar market growth evaluation includes the analysis of Canada and the United States. In Canada, initiatives like electric vehicle manufacturing is projected to aid the expansion of the copper busbar market. This is further supplemented by workshops by key market players. For instance, the Electric Mobility Canada developed the Electric Vehicle Technology Roadmap assisted by the government. It entailed a series of four workshops each concerned with four aspects of electrical mobility respectively. These include electrical drive components, electrical power grid interfacing, vehicle integration & optimization, and batteries & generally energy storage.
Such workshops help spread awareness regarding different energy solutions and its distribution methods. One such distribution method is the laminated copper busbar. Moreover, the smart city measures are propelling the growth of the laminated busbar industry. Such developments boost growth opportunities in the Canada copper busbar market.
Some of the eminent firms in the market include American Power Connection Systems Inc, KINTO Electric Co Ltd, Eaton Corporation Plc, etc.