Global laminated busbar market is projected to surpass a valuation of USD 1,392 million by the year 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
According to the report, favorable public initiatives and government regulations pertaining to energy consumption, along with burgeoning awareness amid customers regarding energy utilization have augmented product adoption across the globe. Surging environment concerns, depreciating fuel reserves, and rising need to decrease energy consumption accelerates the industry growth. In addition to this, the escalating consumption from smart cities and smart homes, growing inclination toward renewable resources, and rising demand from industrial and residential applications would add momentum to the laminated busbar market during the estimated period. Other factors aiding market growth are the presence of a favorable regulatory outlook, increasing awareness, and technological enhancements. Growing vendor investments in technological developments and rising demand from developing economies would further escalate the laminated busbar market growth, cites the report.
Speaking of the geographical landscape, the Europe laminated busbar market garnered the highest revenue in 2017 and is projected to lead the overall industry during the projection timeline. The surging awareness amid consumers and growing environmental concerns will also stimulate the market growth in the region. The increasing adoption of hybrid and electric vehicles and the surging penetration of renewable energy sources are slated to amplify the adoption of laminated busbars as well. The growing utilization of laminated busbars in home and building automation and power electronics will also augment the industry growth.
Key highlights of the laminated busbar market report are listed below:
• In terms of insulation material, the epoxy powder coating segment held the biggest share of the global revenue in 2017.
• Based on regional bifurcation, Europe is estimated to be the biggest revenue contributor to the global market during the projection timeline.
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The laminated busbar market report also provides a detailed analysis of the business space in terms of the market drivers, restraints, opportunities, Porter’s five forces, value chain, industry trends, conductor types, insulation materials, end-user spectrum, regional landscape, and competitive profiling.
The key players profiled in the laminated busbar market report include Methode Electronics, Inc., Storm Power Components, Rogers Corporation, Amphenol Corporation, Idealec SAS, Mersen S.A., Electronic Systems Packaging, Suzhou West Deane Machinery, Sun.King Power Electronics Group Limited, and Shennan Circuits. These eminent players concentrate on new product launches and strategic collaborations to meet the surging requirements of consumers.
The end-user spectrum of the laminated busbar market is categorized into power electronics, industrial, telecom, transportation, alternative energy, aerospace & defense, and others.
An in-depth industry analysis contained in the report features key parameters such as bargaining power of the buyers, bargaining power of the suppliers, the threat of new entrants, the threat of substitutes, and the degree of competition.