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Global Busbar Electroplating Market Report 2022: Rising Use in Power Distribution Systems Fueling Growth
Global Busbar Electroplating Market
Dublin, Sept. 07, 2022 (GLOBE NEWSWIRE) -- The "Global Busbar Electroplating Market, By Substrate, By Metal Plating, By End-use & By Region- Forecast and Analysis 2022-2028" report has been added to ResearchAndMarkets.com's offering.
Global Busbar Electroplating market was valued at US$ 2639.82 million in 2021, and it is expected to reach a value of US$ 3971.73 million by 2028, at a CAGR of 6.1% over the forecast period (2022 - 2028).
One of the primary driving factors for the global market's growth is the rising use of electroplated busbars in power distribution systems. A rise in power demand from the residential, commercial, industrial, and other sectors is likely to generate potential prospects for the global busbar electroplating market.
Because of the necessity for an effective conductor and minimal energy loss during transmission, highly conductive metal busbars have replaced traditional power distribution systems. Furthermore, a boost in industrial activity resulted in an increase in the operation of electrical devices. The replacement of multiple transformers to provide uninterrupted electric supply has increased due to the upgrading of the outdated electric transmission system.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Busbar Electroplating market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details:
The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report
The Global Busbar Electroplating market is segmented by substrate, by metal plating, by end-use. Based on substrate, the market is categorized into Copper, Aluminum, Others.
Based on metal plating, the market is categorized into Tin, Zinc, Silver, Nickel, Copper, Gold, Platinum, Other.
Based on end-use, the market is categorized into Power Generation, Aerospace & Defense, Data Centers, Industrial & Manufacturing, Others.
By region, the global Busbar Electroplating market is categorized into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Driver
The aerospace and military sectors' increasing demand for electroplated busbar for enhanced conductivity is likely to boost electroplating market expansion. Busbar Electroplating is the greatest solution for the aerospace and defense industries, which require less space-consuming yet high-current-flowing-capacity chemicals.
Electroplated busbar has a higher conductivity than standard cables and wires while taking up less space. Over the projected year, these factors are expected to boost the Busbar Electroplating market.
Restraint
The electroplating sector is a major contributor to environmental pollution. Strict regulations must be followed in the electroplating industry. For example, the electroplating sector is governed by the Water (Prevention and Control of Pollution) Act of 1974 and the Hazardous Wastes (Management, Handling, and Transboundary Movement) Rules of 2008.
The electroplating industry's effluent must meet the new requirements announced in Section 9 of Schedule 1 of the Environment (Protection) Act of 1986. These issues are projected to impede the expansion of the busbar electroplating market.
Market Trends
A rise in power demand from the residential, commercial, industrial, and other sectors is likely to generate attractive growth prospects for the global busbar electroplating market. Because of the necessity for an effective conductor and minimal energy loss during transmission, highly conductive metal busbars have replaced traditional power distribution systems.
Furthermore, a boost in industrial activity resulted in an increase in the operation of electrical devices. The replacement of multiple transformers to provide uninterrupted electric supply has increased due to the upgrading of the outdated electric transmission system.
Key Topics Covered:
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
Key Market Insights
COVID Impact
Market Dynamics & Outlook
Global Busbar Electroplating Market by Substrate
Global Busbar Electroplating Market by Metal Plating
Global Busbar Electroplating Market by End-use Application
Market Size by Region
Key Company Profiles
Companies Mentioned
Metalor Technologies International
Heimerle + Meule
Sharretts Plating Company
Peninsula Metal Finishing, Inc.
Bajaj Electroplaters Inc.
Roy Metal Finishing Co Inc
Pioneer Metal Finishing
Electro-Spec Inc.
Precision Plating Company, Inc
Jawaher Metal Factory Plating and Fabrication
For more information about this report visit https://www.researchandmarkets.com/r/ewnr1t
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