The global laminated busbar market size is anticipated to reach over USD 1,392 million by 2026 growing at a CAGR of 6.8% during the forecast period, according to a new research report published by Polaris Market Research. The report “Laminated Busbar Market Size By Conductor Type (Copper, Aluminum, Others); By Insulation Material (Epoxy Powder Coating, Mylar, Tedlar, Teonex, Kapton, Nomex, Others); By End-User (Alternative Energy, Industrial, Power Electronics, Telecom, Aerospace and Defense, Transportation, Others); By Region, Segments & Forecast, 2018 – 2026” provides a comprehensive analysis of present market insights and future market trends.
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Laminated busbars comprise layers of fabricated copper separated by a thin dielectric constant and laminated into a cohesive structure ideal to carry electric loads. They have innumerable and potentially sound benefits such as reducing system costs, improving reliability, increasing capacitance and eliminating wiring complications. The fringe benefits also are that they lower impedance and inductance.
In 2017, the epoxy powder coating segment captured the global industry in terms of revenue. Europe is anticipated to be fast growing market in terms of revenue during forecast period. The multiple vistas of applications include alternative energy, power electronics, computers, telecommunications, transportation, military and industrial among others.
Government rules and favorable public sentiments regarding energy consumption and growing awareness among consumers regarding energy usage have fueled the adoption of laminated busbar in the global laminated busbar market. Growing environmental worries, scarcity of fuel resources and an increasing need to bring energy resources further down support growth of this market.
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A demand from smart homes and cities to usher in renewable energy, increasing preference for renewable energy and an increasing demand from residential to industrial applications would fuel growth during forecast period. Other factors boosting growth include congenial government regulations, increasing awareness and technological advancements and growing demand from emerging economies that further boost growth.
Europe registered highest revenue in 2017 and is expected to lead global market throughout the forecast period. The growing awareness among consumers and rising environmental fears drive the growth in the region. The driving penetration of electric and hybrid vehicles and growing affection for usable energy resources champion the adoption of laminated busbars. The ever-growing use of laminated busbars in home and building automation, and in power electronics to supply incessant power, expands the laminated busbar market growth.
The key players collaborate with market leaders to diversify and launch new products that meet the increasing needs of customers. The key players include Storm Power Components, Methode Electronics, Inc., Rogers Corporation, Amphenol Corporation, Electronic Systems Packaging, SunKing Power electronics Group Ltd., Suzhou West Deane Machinery and Shennan Circuits.
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