The laminated busbar market is estimated to grow from $XX million in 2018 to $XX million by 2027 at a CAGR of 6.03% between 2019 and 2027. The base year considered for the study is 2018 and the estimated period is between 2019 and 2027. The key factor that that is primarily driving the market advancement is the wide adoption of laminated busbars across batteries in electric & hybrid vehicles.
The global laminated busbar market includes segmentation on the basis of the conductor, insulation material and end-users. The market is facing some challenges with growing volatility in metal prices across the globe. The unorganized structure of the market hampers the market revenue & the demand for steel industry is witnessing the sharp decline.
Laminated busbars are widely adopted across batteries in electric vehicles and hybrid electric vehicles for transferring electrical energy to inverter from battery pack. The increasing dependence on non-renewable sources of energy and the growing awareness related to the reduction in greenhouse gases are also responsible for market growth.
The global laminated busbar market is geographically segmented into North America, Europe, Asia Pacific and the remaining countries collectively forming the Rest of World.
The Asia-Pacific laminated busbar market is expected to be the fastest growing market during the forecasting years.
The governments in the region make efforts to develop the power transmission & distribution infrastructure and government investments to promote smart cities program are expected to augment the growth of the laminated busbar market in Asia-Pacific region during the forecast period.
Methode Electronics Inc., Mersen S.A., Storm Power Components, Jans Copper Pvt. Ltd., Molex Incorporated, Amphenol Corporation, Raychem RPG (P) Ltd., Sun.King Power Electronics Group Limited, Rogers Corporation, Zhuzhou CRRC Times Electric Co. Ltd., Electronic Systems Packaging LLC, and OEM Automatic Ltd. are the major companies mentioned in the report.