The Laminated Busbar Market was valued at USD 743.2 Million in 2017 and expected to grow at a CAGR of 6.21%, from 2017 to 2022, to reach a projected USD 1,004.5 Million by 2022. The growth of the laminated busbar can be attributed to the increased adoption of electric vehicles and hybrid electric vehicles, along with the increased share of renewable energies in the primary energy mix. The Laminated Busbar Market has been segmented by end-user, insulation material, conductor, and region.
The European market is expected to lead the Laminated Busbar Market, by region, during the forecast period. The increasing demand for electric vehicles and hybrid electric vehicles and the continuously increasing share of renewable energies are the main factors driving the growth of the European market.
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The market has been segmented, by end-user, into power electronics, alternative energy, transportation, telecom, datacenters, aerospace and defense, industrial, and others. The power electronics segment led the market in 2016. Laminated busbars are mainly used in the parallel battery connection and wiring of EVs and HEVs. The increasing preference for clean, renewable energy sources is a major factor for the growth of the power electronics, alternative energy, and transportation end-user segments.
Asia Pacific: the fastest-growing market for laminated busbars
In this report, the market has been analyzed with respect to five regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Asia Pacific is expected to be the fastest-growing market for laminated busbars during the forecast period. Asia Pacific is home to 2 of the fastest-growing economies, India and China. In 2016, China overtook the US in terms of the number of new registrations of EV and EHV. China is also a major renewable energy producer. China’s ambitious goal to curb pollution and increase the share of renewable energy in its primary energy mix is a major factor in the growth of the market. Other countries in Asia Pacific, such as South Korea and Japan, are also investing heavily in clean and renewable energy technologies, which is expected to drive the market in the region.
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Some of the major players in the Laminated Busbar Market are Rogers Corporation (US), Amphenol Corporation (US), Mersen (France), Idealec SAS (France), and Sun King Power Electronics Group Limited (China).
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