Latest News:- Laminated Busbar Market: Copper is expected to lead the Material segment during 2024-2028

Laminated Busbar Market to grow at a CAGR of 5.4% during 2024-2028

The Laminated Busbar Market is expected to grow at a CAGR of 5.4% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 280.4 million. In the business realm, renewable energy, sourced from natural and inexhaustible resources such as solar, hydroelectric power, geothermal, tidal power, and wind energy, is gaining significant traction. The DC energy derived from these renewable power sources is safely and efficiently conveyed to insulated gate bipolar transistor (IGBT) and capacitor circuits via multilayer, laminated busbars. This trend is particularly prominent in photovoltaic inverters. According to the International Energy Agency (IEA), the global electricity generation mix saw a renewable energy penetration of 24% in 2016, which is projected to surge to 40% by 2040. Consequently, the laminated busbar market is poised for substantial growth due to the increasing adoption of renewable energy sources. 

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The Copper subsegment is expected to dominate the Material segment during the forecast period 

Technavio analysts predict that the Copper subsegment will lead the Material segment during 2024 and 2028 The Laminated Busbar Market represents a significant growth opportunity for businesses in the power and energy sector. This market is driven by the increasing demand for reliable and efficient power transmission solutions. Key trends include the adoption of advanced materials and manufacturing technologies, as well as the growing preference for compact and lightweight designs. Market players are investing in research and development to innovate and meet evolving customer needs. The future looks bright for this market, with robust growth projected in the coming years.

Here are the various ways based on which the market is segmented: 

• Material
  • Copper
  • Aluminium
  • Others
• Geography
  • Europe
  • APAC
  • North America
  • Middle East and Africa
  • South America

Reasons to Purchase the Global Laminated Busbar Market Market Research Report by Technavio. What is in it for you?

• Wealth of Experience: Technavio is an established name in the world of market research. It holds an expertise of more than 20 years in the field, has published 21,000+ reports thereby extensively covering the area in various industries and range of regions
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There are several factors that are causing the market to flourish application of laminated busbars in evs

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The Laminated Busbar Market is witnessing significant growth due to its increasing applications in power distribution, particularly in power generation and energy systems. These busbars, made of electrical conductors laminated together, offer superior structural integrity and reliability. The manufacturing process involves diffusion welding, ensuring excellent shock absorption and vibration failure resistance. Aerospace, datacom and telecom, and automotive industries are key end-users, leveraging customizable design and high power density for their specific applications. Capacitance and inductance are crucial factors in laminated busbars, enhancing current distribution and thermal management. Capacitors and IGBT semiconductors are integral components, requiring efficient EMI noise reduction and heat dissipation. Materials like aluminum, copper, and conductive metals are commonly used in laminated busbars due to their excellent electrical conductivity and thermal properties. Flexible busbars and laminated busbars cater to various power distribution needs, including batteries, with the latter offering improved current distribution and structural integrity. Overall, the laminated busbar market is driven by the need for efficient, reliable, and high-performance power distribution solutions.

Market Research Overview

The global laminated busbar market is a significant segment of the expansive electrical components and equipment industry. This sector caters to the manufacturing and supply of specialized electrical busbars, which are laminated for enhanced electrical insulation and heat dissipation. The parent market encompasses a vast array of electrical products, including water heaters and accessories, motors, motor control components, automation solutions, electrical distribution and protection equipment, and HVAC systems, among others. Technavio's market analysis for the electrical components and equipment sector calculates the market size based on the combined revenue generated by manufacturers and rental companies. This comprehensive assessment covers both OEM sales and revenue from rental and leasing activities to end-users in the industrial, commercial, and residential sectors.

The Laminated Busbar Market is experiencing significant growth, fueled by the application of laminated busbars in evs. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/