Laminated Busbar Market expected to Reach $1,183 Million by 2025

The global laminated busbar market is projected to grow at a CAGR of 6.6% from 2020 to 2025, to reach a market size of USD 1,183 million by 2025 from USD 861 million in 2020. Cost-efficiency and operational benefits of laminated busbars, demand for safe and secure electrical distribution systems, and focus on renewable energy are expected to drive the laminated busbar market growth. Europe is expected to be the largest market for laminated busbar, followed by Asia Pacific till 2025.

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. Epoxy powder-coated laminated busbars are mainly used for switchgear and motor drive applications. These properties make these laminated busbars increasingly preferred by end-use industries and are likely to drive their demand during the forecast period.

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Utilities are expected to be the largest segment in the Laminated Busbar Market. 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 largest laminated busbar market. 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.

The major players in the Laminated Busbar Market include Rogers (US), Amphenol (US), Mersen (France), Methode (US), and Sun.King Power Electronics (China).

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