Laminated Busbar Market Size, Geographical Market Forecast to 2027
As the laminated busbar market size 2020 worldwide is treading along a healthy growth track, it is now anticipated to rake in a healthy share of the revenue pie with ~7.02% CAGR. The report is gathered by Market Research Future. It has also analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market operators, and disrupters, which is reflected in this analysis.
Top Impactful Factors
MRFR also finds that the rising awareness of energy-saving and efficiency, rising renewable energy integration, and mounting demand for hybrid and electric vehicles are some of the other essential factors driving the laminated busbar market. In fact, the swelling number of smart cities has foremost opportunities for the laminated busbar market growth.
Furthermore, the mounting renewable energy integration, growing demand for hybrid and electric vehicles, as well as escalating awareness about energy saving and efficiency, will drive the global laminated busbar market. With this, the mounting number of smart cities has brought significant opportunities for the laminated busbar market for many years, which has led to the market’s development at a rapid pace.
The last section finds that the demand for the busbar is likely to see a surge in the next years, chiefly for alternative energy. Power generation throughout alternative sources of energy requires the generation of DC feeds into a capacitor circuit and insulated-gate bipolar transistor, via a low inductance laminated busbar.
Segmentation of Market:
The worldwide laminated busbar market has been segmented on segments of insulation material, conductor, and end-use.
In terms of the insulation material segment, the market has been classified into Kapton, epoxy powder coating, Tedlar, Nomex, mylar, and teonex. Among these, the Tedlar sub-segment leads the market as Tedlar is used for the harsh environment as it performs remarkably in high temperature and high-pressure applications.
In terms of the conductor, the market has included copper and aluminum.
In terms of end-use, the market has included transportation, alternative energy, telecom, data centers, industrial, power electronics & silicon carbides, aerospace & defense, among others. It is anticipated that the power electronics segment can lead the global market in the years ahead, on behalf of the heightened demand for renewable energy sources.
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Asia Pacific, Europe, North America, and RoW or the rest of the world are the top markets for laminated busbar across the globe.
The APAC laminated busbar market trends can primarily benefit from the increasing use of renewable energy sources, mounting awareness on energy saving as well as efficiency, and the escalating demand for electric and hybrid vehicles. The rising pervasiveness of smart cities gives rise to opportunities in the regional laminated busbar market. The fast economic expansion across nations like India and China has led to a surge in the energy demand along with its consumption, owing to which power outages and shortage have become quite common. To find a solution for such issues, various government bodies in the APAC region are working on improving infrastructure with the use of energy-efficient products such as laminated busbar, leading to better business expansion.
The speedily growing share of renewable energies contributes highly towards the market growth in Europe. The heightened usage of electric vehicles and hybrid vehicles backed by the sturdy support of the government in countries like Germany, France, the UK, and Denmark, push the uptake of laminated busbar in the region. The region is also concentrated with several renowned players that are frequently working on product innovations and other strategies to fortify the incidence in the market. In the case of point, Mersen Company in France, known for its vast product offering about electrical power materials, is continually adopting organic as well as inorganic strategies to inflate its worldwide presence.
Top Market Players
The renowned contenders functional in the global laminated busbar market are listed as Jans Copper (India), Mersen (France), Suzhou West Deane Machinery (China), Amphenol (US), Shenzhen Woer New Energy (China), Rogers (Canada), Storm Power Conductors (US), OEM Automatic (UK), Electronic Systems Packaging (US), Ryoden Kasei (Japan), Shennan Circuits (China), Idealac (Jordan), and Zhuzhou Crrc Times Electric (China).
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