The laminated busbar market has been segmented on the basis of conductor, insulation material, application, and geography. Based on conductor, the laminated busbar is segmented into aluminum and copper. Based on insulation material, the laminated busbar is segmented into polyester film, heat-resistant fiber, epoxy powder coating, polyamide film, and epoxy glass. Based on application, the laminated busbar is segmented into the datacenter, telecom, alternative energy, power electronics and sic, transportation, aerospace & defense, industrial, and others. Based on geography, the laminated busbar market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
The laminated busbar market in Asia Pacific is projected to witness remarkable growth during 2022–2028. Due to the presence of various large manufacturing, chemical, utilities, and other industries in the region that use laminated busbars, Asia-Pacific is expected to be the fastest-growing market. Besides, developing infrastructure and increasing population is a significant factor driving the region’s laminated busbar market due to the region’s commercial and residential segment’s demand for high-electricity. Moreover, the development of amusement parks, malls, cinema complexes, and others is fueling market growth. India and China are the most significant contributors to market growth. The presence of other countries like Australia, Japan, South Korea, and others also plays a crucial role in market growth.
Europe is well known for well-developed countries that favor adopting and applying new technologies. Rising demand for power, increasing investment in the energy sector, and growing construction activities in the region likely drive Europe’s demand for laminated busbars. Renewable energy steadily growing share, and the growing integration of renewable energy are some of the significant factors contributing to Europe’s largest market share in the laminated busbar market.
Read more: Laminated Busbar Market Size Worth $1.33 Billion, Globally, by 2027