WASHINGTON, Jan. 31, 2022 (GLOBE NEWSWIRE) — Busbar are generally used for collecting electric power from incoming feeders and help distribute to the outsider feeder with loss of electricity. The Laminated Busbars are engineered components consisting of layers of fabricated copper separated by thin dielectric materials. This is then laminated into an unified structure which is used to reduce system costs, improve reliability, increase capacitance, and eliminate wiring errors. They are also used as safety and to secure electrical distribution, states Vantage Market Research, in a report, titled “Laminated Busbar Market by Material (Copper, Aluminum), by End-user (Utilities, Industrial, Commercial, Residential), by Insulation material (Epoxy powder coating, Polyester film, PVF film, Polyester resin), by Region (North America, Europe , Asia Pacific, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”.
The market size stood at USD 916.97 Million in 2021. The Global Laminated Busbar Market size is expected to reach USD 1,041 Million by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period.
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The report on Laminated Busbar Market highlights:
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- Value Chain Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Porter’s Five Forces Analysis
- Global and Regional Dynamics
Increase in High Power laminated Busbar System for Transportation and Distribution of Power is Expected to Drive the Laminated Busbar Market.
Busbar trunking systems are the ideal solution for the transport and distribution of energy in environments with high-capacity requirements. These laminated busbars are made with aluminum or copper conductors, which are simpler to install and maintain compared to cabling and panel distribution. The laminated busbar system’s enclosed design provides a high level of reliability and safety in the most critical environments. These laminated busbars are tested and manufactured in accordance with IEC 61439-1-6. The product line is designed to provide the highest safety levels from all aspects of design and installation. Other features such as fire and seismic resistance, high short-circuit ratings, excellent ingress protection along with superior insulation technology help ensure critical operations with highest safe. These are some of the factors that are driving the laminated busbars market globally.
High Cost of Manufacturing and Installation is Hindering the Laminated Busbar Market
Laminated busbars material comes in various types; the most expensive one is aluminum. Day by day the cost of raw material is rising and with material cost hike, cost of production is getting higher. The manufacturers are finding solutions for cutting down the cost by implementing hybrid busbars system. Installation costs are quite high for laminated busbar which is restraining the growth of laminated busbars market.
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Increasing Growth of Laminated Busbar Market in Asia Pacific
Asia Pacific is anticipated to grow at a highest CAGR of XX% in the projected period. This is attributed due to the presence of key players of laminated busbar manufacturers. Countries such as India and China are growing in gaining huge potential in electrical sector due to growing industrialization and urbanization. For instance, India is expected to be the largest manufacturer of electrical components by 2025 this is attributed due to high demand and infrastructure projects. These are some of the factors that are driving the laminated busbars market in Asia Pacific.
The COVID-19 outbreak has affected various industries worldwide. The Laminated Busbar Market also had a huge impact. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the swift spread of COVID-19. These actions led to a severe impact on the global economy impairing various industries. Moreover, reduced infrastructure activities further affected the demand for laminated busbar manufacturing across the globe. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data- points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Region 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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List of Prominent Players in the Laminated Busbar Market:
- Rogers (US)
- Mersen (France)
- Amphenol (US)
- Sun King Power Electronics (China)
- Methode (US)
Recent Developments in the Industry:
In June 2018, Methode Electronics introduced ROLINX CapLink Solutions. In this solution, capacitors are united to a laminated busbar, which is ideal for power management applications.
In May 2018, Mersen acquired FTCap. This acquisition broadened the company’s current range of laminated busbars to capacitors. It was expected to strengthen Mersen’s power electronic systems product portfolio.
In April 2018, Mersen acquired Idealec SAS. This acquisition strengthened the company’s electrical power segment and expanded its client portfolio. The company would also benefit from Idealec SAS R&D and innovation capabilities in the busbar segment.
Browse market data Tables and Figures spread through 175 Pages and in-depth TOC on Laminated Busbar Market by Material (Copper, Aluminum), by End-user (Utilities, Industrial, Commercial, Residential), by Insulation material (Epoxy powder coating, Polyester film, PVF film, Polyester resin), by Region (North America, Europe, Asia Pacific, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)” View a detailed Research Report here – https://www.vantagemarketresearch.com/press-release/laminated-busbar-market-579798
This market titled “Laminated Busbar Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
|Market Size in 2021||USD 916.97 Million|
|Projected Market Size in 2028||USD 1,041 Million|
|CAGR Growth Rate||CAGR of 6.5% from 2022–2028|
|Historic Years||2016 – 2020|
|Forecast Years||2022 – 2028|
|Segments Covered||Material: – Copper, Aluminum
End-user: – Utilities, Industrial, Commercial, Residential
Insulation material: – Epoxy powder coating, Polyester film, PVF film, Polyester resin, Others
|Quantitative Data – Units||Revenue in USD Million/Billion and CAGR from 2022 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Countries Covered||US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Laminated Busbar Market?
- How will the Laminated Busbar Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Laminated Busbar Market?
- What is the Laminated Busbar market drivers and restrictions?
- What will be the CAGR and size of the Laminated Busbar Market throughout the forecast period?
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