The Laminated Busbar Market is anticipated to reach over USD 1,392 million by 2026 according to a new research published by Polaris Market Research. In 2017, the epoxy powder coating segment dominated the global market, in terms of revenue. Europe is expected to be the leading contributor to the global market revenue during the forecast period.
Government regulations and favorable public initiatives regarding energy consumption, and rising awareness among consumers regarding energy usage have boosted the adoption of laminated busbar in the global Laminated Busbar Market. Growing concerns regarding environment, depleting fuel resources, and increasing need to reduce energy consumption further support the growth of this market. Additionally, the increasing demand from smart homes and cities, increasing preference for renewable energy, and increasing demand from residential to industrial applications would boost market growth during the forecast period. Other factors supporting market growth include supportive government regulations, increasing awareness, and technological advancements. Increasing investments by vendors in technological advancements, and growing demand from emerging economies further boost the Laminated Busbar Market growth.
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The Europe Laminated Busbar Market generated the highest revenue in 2017, and is expected to lead the global market throughout the forecast period. The increasing awareness among consumers, and rising environmental concerns drive the market growth in the region. The increasing penetration of electric and hybrid vehicles, and growing use of renewable energy sources promote the adoption of laminated busbar. The increasing use of laminated busbar in building and home automation, and power electronics further supports the Laminated Busbar Market growth.
The leading companies profiled in the Laminated Busbar Market report 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. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.