laminated busbar Market

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.

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.

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.

The overall laminated busbar market size has been derived using both primary and secondary source. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the laminated busbar market with respects to all the segments. It also provides the overview and forecast for the global laminated busbar market based on all the segmentation provided with respect to five major regions-North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultant such as valuation experts, research analysts and key opinion leaders specializing in the laminated busbar market.

A few of the major players operating in the global laminated busbar market areAmphenol Corporation, Electronic Systems Packaging LLC(ESP), Mersen SA, Methode Electronics Inc., OEM International Group, Rogers Corporation, Ryoden Kasei Co., Ltd, Storm Manufacturing Company, Suzhou West Deane Machinery Inc., and Zhuzhou CRRC Times Electric Co, Ltd.