Laminated Busbar Market Ongoing Trends, Opportunities & Forecast To 2027
The global laminated busbar market is growing rapidly. The market growth attributes to the growing laminated busbar applications across the end-user industries, offering safe, secure, and efficient distribution network systems. Besides, technological advances in component and thin dielectric materials used in unified laminated busbar structures influence the growth of the market. Moreover, the rising prefabricated electrical distribution system escalates the market growth.
According to Market Research Future (MRFR), the global laminated busbar market valuation is estimated to ascend at approximately 7.02% CAGR during the forecast period (2019-2024). Stringent government rules and regulations prompt various industries and multi facilities infrastructures to emphasize the efficient use of electricity and operational efficiency. Various benefits of laminated busbar include reduced system costs, improved reliability, and increasing capacitance, eliminating wiring errors.
Additionally, rising usages of laminated busbar systems in various industries, including power electronics, alternative energy, industrial, telecommunications, and transportation, substantiate the market growth. Moreover, the rapid industrialization and urbanizations foster market growth, leading to the development of various business sectors, customer relationships, and end user satisfaction factors.
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Increasing renewable energy integration, alongside the growing demand for hybrid and electric vehicle, drive the laminated busbar industry. Moreover, an increasing number of smart city projects worldwide offer significant opportunities for market growth. Besides, the growing renewable energy generation and government initiatives to promote renewable energy resources adoption for the overall energy generation accelerate the growth of the market.
The increasing implementation of IGBTs and support capacitors and the proliferation of electric vehicles push the growth of the market exponentially. Moreover, the accelerated economic growth in various countries scales the market growth, increasing energy demand and consumption. Also, power shortage and outages propel the growth of the market, increasing the numbers of utility grids. Rising usages of tedlar for exceptional performance in harsh environments and high-pressure applications foster the market growth.
Laminated Busbar Market – Segmentation
The report is segmented into four dynamics;
By Insulation Material : Epoxy Powder Coating, Nomex, Kapton, Tedlar, Mylar, and Teonex.
By Conductor: Copper and Aluminum.
By End-Use: Power Electronics & Silicon Carbides, Alternative Energy, Transportation, Telecom, Datacenters, Aerospace & Defense, Industrial, and others.
By Regions: North America, Europe, APAC, and Rest of the World.
Global Laminated Busbar Market – Regional Analysis
The Asia Pacific region dominates the global laminated busbar market. The largest market share attributes to the increasing use of renewable energy sources and growing awareness of the efficiency and benefits of laminated busbar in minimizing energy consumption. Besides, the escalating demand for electric and hybrid vehicles drive the growth of the regional market. Moreover, the growing population, urbanization, and a substantial increase in the economy of this region boost the laminated busbar industry.
North America stands second in the global laminated busbar market. The market growth is driven by the significant reductions in renewable energy costs making renewables cost-competitive and attractive sources of energy. Additionally, the rising renewable energy plants, alongside the growing demand for renewable power generation, foster the growth of the regional market. The pervasively rising smart city projects and other opportunities in the region push the laminated busbar industry growth.
The Europe laminated busbar market is growing continually. Factors such as economic expansion and government initiatives to increase renewable energy generation in the region boost market growth. Moreover, increasing deployments of energy-efficient devices in renewable power sites and surge in the energy demand propel the growth of the regional market. Furthermore, improving infrastructures with energy-efficient products such as laminated busbar influence regional market growth.
Global Laminated Busbar Market – Competitive Analysis
The laminated busbar market appears to be highly competitive and fragmented owing to the presence of several well-established players. These companies are aggressively targeting increased participation through mergers & acquisitions, collaborations, expansion, and technology/product launch, expanding their operations and offerings. The market will witness intensified competition with an increase in R&D innovations and M&A.
Players leading thelaminated busbar market include Rogers (Canada), Mersen (France), Zhuzhou CRCC Times Electric (China), Electronic Systems Packaging (US), OEM Automatic (UK), Suzhou West Deane Machinery (China), Shenzhen Woer New Energy (China), Shennan Circuits (China), Jans Copper (India), Ryoden Kasei (Japan), Storm Power Conductors (US), Idealac (Jordan), Amphenol (US), Sun.King Power Electronics (China), and Methode Electronics (US), among others.
Industry/ Innovation/ Related News:
March 18, 2020 —- Trina Solar Co., Ltd. (China), a leading global provider of smart energy solutions and integrated PV modules, launched the pilot line of the 500W+ Duomax V and Tallmax V/ V series modules for the mass production. The event marks another major milestone achieved by the company after the global launch of the V series on February 27 this year. Trina Solar manufactures sells, and does research and development on PV products, EPC and O&M.
Trina Solar’s superior multi-busbar technology incorporates an innovative design integrating advanced three-piece, non-destructive, and high-density packaging technologies to eliminate the potential risks associated with ultra-high power modules.
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