The global laminated busbar market is projected to grow at a CAGR of 6.6% from 2020 to 2025, to reach a market size of USD 1,183 million by 2025 from USD 861 million in 2020. Cost-efficiency and operational benefits of laminated busbars, demand for safe and secure electrical distribution systems, and focus on renewable energy are expected to drive the laminated busbar market during the forecast period.
The epoxy powder coating segment is expected to hold the largest share of the Laminated Busbar Market
The epoxy powder coating segment is expected to be the largest market for laminated busbars in 2020. Epoxy powder-coated laminated busbars have better mechanical strength, such as resistance against scratches, chipping, and fading as compared to other insulation material-coated laminated busbars. These properties are likely to drive the growth of this segment.
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Utilities is expected to be the largest segment in the Laminated Busbar Market
The utilities segment dominated the Laminated Busbar Market during the forecast period. A laminated busbar is a vital component in power generation plants and transmission & distribution substations, where it finds applications in distribution boards, switchgears, motor controls, and transformers. Utilities are investing in upgrading transmission & distribution networks to meet new-age demands and improve the efficiency of grid networks, thereby helping the Laminated Busbar Market to grow during the forecast period.
Europe: Expected to be the leading market for laminated busbars
Europe is expected to dominate the global Laminated Busbar Market from 2020 to 2025. Rising power demand, increasing investments in the energy sector, and growing construction activities in the region are likely to drive the demand for laminated busbars in Europe.
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The major players in the Laminated Busbar Market include Rogers (US), Amphenol (US), Mersen (France), Methode (US), and Sun.King Power Electronics (China).