CHICAGO, March 4, 2020 /PRNewswire/ -- According to the new market research report "Laminated Busbar Market by Material (Copper, Aluminum), End-User (Utilities, Industrial, Commercial, Residential), Insulation Material (Epoxy Powder Coating, Polyester Film, PVF Film, Polyester Resin, and Others), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Laminated Busbar Market is expected to grow from an estimated market size of USD 861 million in 2020 to USD 1,183 million by 2025, at a CAGR of 6.6% during the forecast period. The market is set to witness growth, due to the demand for safe and secure electrical distribution systems, cost-efficiency and operational benefits of laminated busbars, and focus on renewable energy.
The epoxy powder coating segment is expected to hold the largest share of the Laminated Busbar Market, by insulation material, during the forecast period
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.
Utilities is expected to be the largest segment in the Laminated Busbar Market, by end-user, in 2020
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 during the forecast period
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.
To enable an in-depth understanding of the competitive landscape, the report includes some of the top players in the Laminated Busbar Market. Mersen, Rogers, Amphenol, Sun.King Power Electronics, and Methode Electronics are some of the leading players in the Laminated Busbar Market. They are trying to understand the markets in developing economies and are adopting various strategies to increase their market share. Other dominant players in this market include Ryoden Kasei, Shanghai Eagtop Electronic Technology, Shenzhen Busbar Sci-Tech Development, Storm Power Components, Suzhou West Deane Machinery, Zhuzhou CRRC Times Electric, Jans Copper, Raychem, Molex, Electronic Systems Packaging, Shenzhen Woer New Energy Electrical Technology, Zhejiang Rhi Electric, Kinto Electric, EMS Industrial & Service, Segue Electronics, Foshan Zoete Electric Appliance, American Power Connection Systems, Atlee, Custom Electronics, and Power & Grounding Solutions.
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