The global laminated busbar market was valued at USD 780 million in 2017 and is anticipated to grow at a CAGR of 6.8% during the forecast period. Laminated bus bars consist of layers of fabricated copper separated by thin dielectric materials, and laminated into a unified structure to carry electric loads. Laminated bus bars offer various benefits such as reducing system costs, improving reliability, increasing capacitance, and eliminating wiring errors. They also lower inductance and reduce impedance. Laminated busbar are used in applications such as alternative energy, power electronics, computers, telecommunication, transportation, industrial, and military among others.
The growing need for energy efficiency, increasing energy costs, and rising adoption of green energy sources drive the growth of the Laminated Busbar Market. There has been increasing adoption of power efficient energy systems with low maintenance, which further supports market growth. Increasing demand for parallel battery connection, and stringent government regulations regarding energy use boost the adoption of laminated busbar. Rising demand of laminated busbar from industrial applications and increasing trend of using renewable energy fuel the growth of the laminated busbar market. Other factors driving the market include supportive government regulations, increasing awareness, growing demand for power electronics and technological advancements. Growing demand from emerging economies, rising adoption of smart cities, and increasing consumer awareness are factors expected to provide numerous growth opportunities for the Laminated Busbar Market during the forecast period.
North America Laminated Busbar Market Share, By Conductor Type, 2017 - 2026
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The global Laminated Busbar Market is segmented on the basis of conductor type, insulation material, end-user, and region. Based on conductor type, the market is segmented into copper, aluminum, and others. The copper segment is expected to grow at the highest rate owing to the properties such as high conductivity, and lower coefficient of linear expansion.
The insulation material is segmented into Epoxy Powder Coating, Mylar, Tedlar, Teonex, Kapton, Nomex and others. The epoxy powder coating dominated the global market in 2017 owing to its high chemical and heat resistance, along with excellent electrical insulating properties. On the basis of end-user, the market is segmented into Alternative Energy, Industrial, Power Electronics, Telecom, Aerospace and Defense, Transportation, and others.
The Laminated Busbar Market report comprises a detailed geographic distribution of the market across North America, Europe, APAC and Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific. The Europe Laminated Busbar Market generated the highest revenue in 2017 owing to increasing awareness among consumers, and growing adoption of electric vehicles in the region.
The leading players in the Laminated Busbar Market include Storm Power Components, Methode Electronics, Inc., Rogers Corporation, Idealec SAS, Mersen S.A., Amphenol Corporation, Electronic Systems Packaging, Sun.King Power Electronics Group Limited, Suzhou West Deane Machinery, and Shennan Circuits among others. These leading players in the market are introducing innovative products in the market to cater to the consumers. Global players are entering new markets in developing regions to expand their customer base and strengthen market presence.