Global Laminated Busbar Market to Expected Reach USD 1.41 Million by 2028, at CAGR of 6.5%
The Global Market for Laminated Busbar was valued at USD 916.97 Million in 2021 and is projected to reach USD 1.41 Million by 2028, growing at a CAGR of 6.5% between 2022 and 2028. Laminated Busbar is an engineered component that consists of metal layers that are specially fabricated and separated by thin dielectric materials. This whole component is then laminated into a unified structure. Laminated Busbar is mainly used to evade the circulating currents in switching devices that are connected parallelly. It has a wide range of applications in solar and winds energy collection as well as distribution. It also has a major role in the electric automobile industry.
Increased adoption of related infrastructure across all industrial and private systems and the growing demand for integrated and high-speed gadgets in all these institutions is most likely to drive the Laminated Busbar Market. Increased focus on increasing the use of sustainable energy sources and the subsequent need to change electricity distribution infrastructure is also expected to further the need for expansion of the market. In addition, growing awareness of the need to save energy and energy efficiency is expected to further the growing demand for sophisticated power distribution equipment such as stationary buses. Although a major obstacle to the growth of the market for laminated buses that provide low quality and inexpensive products may be delaying market growth during forecasts. Enhancing competition from the informal sector will likely limit the development of the bus market in the coming years. Government regulations dealing with the effects of carbon dioxide emissions due to improper combustion of fossil fuels require a sustainable energy system. In addition, lower emissions from Laminated Busbar batteries used in various family programs will enhance the future market growth. Increased battery consumption and energy consumption in various areas such as telecommunications distribution, air travel, and transportation drive the development of the Laminated Busbar Market.
The Global Busbar Laminated Market can be categorized based on the material into copper and aluminum. Copper laminated busbar is ranked as the largest market segment and part is expected to continue to dominate until 2028. The market is seeing an increase in the use of copper in making laminated buses as they provide twice as much energy as aluminum and high mobility. Based on building materials, the Global Laminated Busbar Market has been divided into epoxy powder coating, mylar, Tedlar, Yonex, Kapton, Nomex, and others. Among them, part of the epoxy powder coating is expected to dominate the global market by 2028 due to its high chemical resistance heat resistance, and excellent electrical properties.
Europe is the largest market for Laminated Busbars, followed by the Asia Pacific and North America. The growing demand for electric vehicles and hybrid electric vehicles due to favorable government policies in countries such as Germany, France, Denmark and the UK is expected to drive the laminated bus market during the forecast period. Europe is home to many renewable energy technology companies. Therefore, the increasing share of renewable energy in the initial power mix is expected to create the demand for Laminated Busbars.Some of the key players in the Laminated Busbar Market are - Rogers (US), Mersen (France), Amphenol (US), Sun.King Power Electronics (China), and Methode (US)..
Browse the full Report - Laminated Busbar Market by Material (Copper, Aluminum), by End-user (Utilities, Industrial, Commercial, Residential), by Insulation material (Epoxy powder coating, Polyester film, PVF film, Polyester resin), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)