Laminated Busbar Market Size Worth $1.33 Billion, Globally, by 2027 – Exclusive Report by The Insight Partners
The global laminated busbar market size is expected to grow at a CAGR of 7.8% during 2020 to 2027, it was valued USD 0.737 billion in 2019 and is expected to reach USD 1.33 billion by 2027.
New York, Feb. 01, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners; “Laminated Busbar Market Size, Share, Growth, Trends and Global Forecasts to 2027 - COVID-19 Impact and Global Analysis by Conductor (Aluminium and Copper) Insulation Material (Polyester Film, Heat-resistant Fiber, Epoxy Powder Coating, Polyamide Film, and Epoxy Glass); Application (Datacenter, Telecom, Alternative Energy, Power Electronics and SiC, Transportation, Aerospace & Défense, Industrial, and Others)”; the global laminated busbar market growth is fuelled by increase in demand for electric vehicles, growth of sustainable energy system and increasing use of smart grids.
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Global Laminated Busbar Market – Report Scope:
Market Size Value in | USD 0.737 Billion in 2019 |
Market Size Value by | USD 1.33 Billion by 2027 |
Growth rate | CAGR of 7.8% from 2020-2027 |
Forecast Period | 2020-2027 |
Base Year | 2020 |
No. of Pages | 186 |
No. of Tables | 88 |
No. of Charts & Figures | 86 |
Historical data available | Yes |
Segments covered | Conductor Insulation Material; Application |
Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
Country scope | US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Global Laminated Busbar Market: Competitive Landscape and Key Developments
Methode Electronics, Inc , Storm Power Components, Mersen SA, Rogers Corporation and Amphenol Corporation are the top five key players profiled in the laminated busbar market report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key players strategize their growth. A few developments under laminated busbar market are mentioned below:
In March 2019, Rogers Corporation showcased its specialty materials for power electronics applications that comprises its wide range of laminated busbar solutions, 92ML thermally conductive PCB materials, curamik substrates, ARLON Secure Thermal Transfer Adhesive, and HeatSORB phase change material at the APEC 2019 conference and exhibition.
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In May 2018, Rogers Corporation exhibited its products at PCIM Europe 2018. Under this exhibition, the company also introduced ROLINX CapLink Solutions. ROLINX CapLink Solutions are custom assemblies comprising several capacitors integrated into the laminated busbars and are best suitable for any power-management application demanding high-power handling capabilities, low equivalent series resistance (ESR) in small, low equivalent series inductance (ESL), light-weight assemblies such as DC link systems in EV/HEV, as well as in solar-power and wind-power systems and industrial applications.
Increase in Demand for Electric Vehicles to Provide Lucrative Opportunities for Global Laminated Busbar Market Growth during (2020-2027):
Automotive manufacturers are more inclined towards transforming automotive mobility into a sustainable mode of transport to reduce their environmental impact. The major players in the automotive sector are focusing on investing in the production of electric vehicles. There have been notable collaborations in recent years between automakers and tech companies to develop technologically advanced electric vehicles using advanced technologies. For instance, in December 2019, Fiat Chrysler collaborated with the French automaker PSA Group to focus on developing electric vehicles. Also, it is stated in the International Council on Clean Transportation (ICCT) that auto manufacturers have announced more than US$ 150 Bn in investment to achieve 13 Mn electric vehicle production by 2025. The shifting trend of vehicles from old conventional-based automotive vehicles to electric vehicles demands an electric circuit system, which drives the growth of the laminated busbar market. Thus, rapid growth in the automotive industry and increasing investment in the production of electric vehicles are opportunistic for the growth of the global laminated busbar market.
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Laminated Busbar Market: Industry Overview
The laminated busbar market has been segmented on the basis of conductor, insulation material, application, and geography. Based on conductor, the laminated busbar is segmented into aluminum and copper. Based on insulation material, the laminated busbar is segmented into polyester film, heat-resistant fiber, epoxy powder coating, polyamide film, and epoxy glass. Based on application, the laminated busbar is segmented into the datacenter, telecom, alternative energy, power electronics and sic, transportation, aerospace & defense, industrial, and others. Based on geography, the laminated busbar market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
The laminated busbar market in Asia Pacific is projected to witness remarkable growth during 2022–2028. Due to the presence of various large manufacturing, chemical, utilities, and other industries in the region that use laminated busbars, Asia-Pacific is expected to be the fastest-growing market. Besides, developing infrastructure and increasing population is a significant factor driving the region's laminated busbar market due to the region's commercial and residential segment's demand for high-electricity. Moreover, the development of amusement parks, malls, cinema complexes, and others is fueling market growth. India and China are the most significant contributors to market growth. The presence of other countries like Australia, Japan, South Korea, and others also plays a crucial role in market growth.
Europe is well known for well-developed countries that favor adopting and applying new technologies. Rising demand for power, increasing investment in the energy sector, and growing construction activities in the region likely drive Europe's demand for laminated busbars. Renewable energy steadily growing share, and the growing integration of renewable energy are some of the significant factors contributing to Europe's largest market share in the laminated busbar market.
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