7.8% Global CAGR for Laminated Busbar Market to achieve US$ 1,330.8 Mn by 2027

Electronic Systems Packaging LLC (ESP), Methode Electronics, Inc., RYODEN KASEI CO., LTD., OEM International AB, Storm Power Components – Prominent Market Participants In Laminated Busbar Market

The global laminated busbar market is a fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. Currently, Europe leads the global market, followed by Asia Pacific and North America. The presence of significant players in the European region investing in the key application areas is one of the key reasons attributed to the market dominance. Further, rising demand for power, increasing investment in the energy sector, robust automotive & transportation market, and growing construction activities in the region are likely to drive Europe’s demand for laminated busbars. Renewable energy steadily growing share, growing integration of renewable energy also contribute to the dominant market share of the region. in the laminated busbar market. As leading companies in this market continue to broaden their addressable market by expanding existing product portfolio, diversifying client base, and developing new applications and markets, all the prominent players face an increasing level of competition, both from regional players as well as the leading global companies. The manufacturing sectors in countries such as the US, Germany, and China are witnessing huge growth, which would also boost the Laminated Busbar market growth.

The global Laminated Busbar market has been segmented into five major regions: North America, Europe, APAC, MEA, and SAM. Europe holds the dominant share in the Laminated Busbar Market, and APAC is expected to be the fastest-growing region in the global market. Policies in Europe are beneficial for the growth of varied businesses, which is one of the factors contributing to the development of the Laminated Busbar market in Europe.

For instance, in 2019, ABB Ltd. won a contract worth US$ 640 million from Power Grid Corporation of India Limited, the country’s national electricity grid operator. As per the contract, ABB is projected to supply an 800 kilovolt (kV) ultra-high-voltage direct current transmission link of more than 1,800 km, to provide electricity to over 80 million people. The North America are likely to witness high demand for Laminated Busbar during the forecast period. The North America region has been witnessing investments in many high-speed train routes. For instance, in 2019, the Washington State Department of Transportation provided a report to plan its case for constructing a high-speed rail line along the Cascadia Corridor connecting Portland, Oregon, with Seattle as well as Vancouver, British Columbia.

The top five companies in the Laminated Busbar market are Methode Electronics, Inc., OEM International AB, Zhuzhou CRRC Times Electric Co., Ltd., Mersen SA, and Rogers Corporation The above listing of key players is derived by considering multiple factors such as overall revenue, current Laminated Busbar solution portfolio, new product launches, market initiatives, investment in technology up gradation, mergers & acquisitions and other joint activities.

Most of the market initiatives were observed in North America and Europe region, which have a high potential of Laminated Busbar market-related service providers. Few of the important market initiatives and product developments from the industry are mentioned below: