Laminated Busbar Market Size, Share & Global Insights 2020-2027

The global Laminated Busbar Market accounted for US$ 737.7 Mn in 2019 and is expected to grow at a CAGR of 7.8% over the forecast period 2020-2027, to account for US$ 1,330.8 Bn by 2027.

The increasing use of smart grids is propelling the demand for laminated busbars around the world. The increasing inclination toward of sustainable energy systemsis also one of the major factors driving the laminated busbar market worldwide. However, complexities associated with the laminated busbars restrain the growth of market. Despite these limitations, increase in demand for electric vehicles offers ample growth opportunities to the laminated busbar market players.

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The List of Companies -
1. Amphenol Corporation
2. Electronic Systems Packaging LLC (ESP)
3. Mersen SA
4. Methode Electronics, Inc.
5. OEM International AB
6. Rogers Corporation
7. Ryoden Kasei CO., Ltd.
8. Storm Power Components
9. Suzhou West Deane Machinery Inc.
10. Zhuzhou CRRC Times Electric Co., Ltd.

Government regulations addressing the effects of co2 gas emission on environment due to the inappropriate combustion of fossil fuels demands for a sustainable energy system. In solar, wind power, and fuel cells, the DC energy is fed directly into an insulated-gate bipolar transistor (IGBT) and capacitor circuit through low-inductance laminated bus bars, delivering safe and efficient power. The design of the laminated bus bar confers excellent packaging efficiency. Designing all electrical connection points in one clean bus bar for the IGBTs, Capacitors, and I/O and monitoring devices lead to enhanced system reliability, along with ensuring optimal electrical performance.

Additionally, low emissions from laminated busbar-based batteries used in different household applications would drive future market growth. According to the "International Energy Agency," the renewable energy system is led by solar PV and by wind, hydropower, and bioenergy, which constitutes over 70% of global electricity generation. Hydropower is the largest source of renewable energy, with 16% in the wind, 6% in solar photovoltaic, and 3% is bioenergy. Increased use of batteries and consumption of power in different sectors such as telecommunications, aerospace, and transport is driving the growth of the laminated busbar market.

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The laminated busbar market has been segmented on the basis of conductor, insulation material, application, and geography. The market based on conductor is segmented into aluminum and copper. The copper segment is expected to hold a prime share of the laminated busbar market during the forecast period. The laminated busbar market, based on insulation material, is segmented into polyester film, heat-resistant fiber, epoxy powder coating, polyamide film, and epoxy glass. The polyester film material led the market in 2019, and it is anticipated to continue its dominance during the forecast period. On the basis of geography, the market is broadly segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. Europe region held the lion's share in the market in 2019 and is expected to continue its dominance till 2027.

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