The global laminated busbar market is expected to grow at a CAGR of 6.21%, from 2017 top 2022, to reach a market size of USD 1,004.5 million by 2022. The increasing demand for electric vehicles and hybrid electric vehicles to reduce pollution in tier 1 and tier 2 cities around the world, along with the increased installation of renewable energy, is expected to drive the global laminated busbar market during the forecast period.
The laminated busbar market is dominated by a few key players that are established brand names with a wide regional presence. The leading players in the laminated busbar market include Rogers Corporation (US), Amphenol Corporation (US), Mersen (France), Idealec SAS (France), and Sun King Power Electronics Group Limited (China).
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The report’s target audience includes:
- Laminated busbar manufacturers, dealers, and suppliers
- Renewable power generation and equipment manufacturing companies
- Switchgear and power cable manufacturing companies
- Energy management, audit, and green building consulting companies
- Copper and aluminum raw material suppliers
- Government and research organizations
- Environmental and industrial associations
- Banks, venture capitalists, financial institutions, and other investors
- Market research and consulting firms
The alternative energy segment is expected to be the fastest-growing end-user segment of the laminated busbar market, from 2017 to 2022. Countries around the world have set the emission reduction targets and are working toward achieving these targets, which has resulted in the increased share of renewable energies in the primary energy mix. Countries such as China, Germany, the UK, and France are increasing their renewable energy capacities, driving the alternative energy segment of the laminated busbar market during the forecast period.
The Tedlar insulation material segment is expected to grow at the highest CAGR during the forecast period. Tedlar is a polymer material with superior resistance to extreme weather conditions, chemicals, oils, and stains. Tedlar is widely used for harsh environments and performs exceptionally in high temperature and high pressure applications. Therefore, the Tedlar segment is expected to be the fastest-growing segment during the forecast period.
The copper conductor material segment is expected to be the fastest-growing segment from 2017 to 2022. Copper is preferred over aluminum as a conducting material in laminated busbars due to its inherent properties such as high conductivity, resistance to damage, and lower coefficient of linear expansion. Thus, the copper segment is expected to grow at the highest CAGR during the forecast period.
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Asia Pacific is expected to be the fastest-growing region for laminated busbars, from 2017 to 2022, followed by Europe and North America. Countries such as China, Germany, and the US are the largest markets for laminated busbars. In 2016, China overtook the US in terms of the number of new registrations of electric vehicles and hybrid electric vehicles. The country is also a major renewable energy producer. China’s ambitious goal to curb pollution and increase the share of renewable energy in its primary energy mix are major factors in the growth of the laminated busbar market. Other countries in Asia Pacific, such as India and Japan, are also investing heavily in clean, renewable energy technologies. These factors are expected to drive the laminated busbar market in the region.