Laminated Busbar Market: Current Analysis and Forecast (2021-2027)

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The Global Laminated Busbar is Expected to Display an Elevated CAGR of ~6.5% over the forecast period (2021-2027)

The past few years have witnessed a rise in renewable generating capacity. Most of the expansion of renewable energy occurred in China and the United States. Most other countries continued to increase renewable capacity at a similar rate to previous years. At the end of 2020, global renewable generation capacity amounted to 2,799 GW. Moreover, in 2020, the renewable generation capacity increased by 10.3% which is  260 GW. Solar energy continued to lead the capacity expansion, with an increase of 127 GW (+22%), followed closely by wind energy with 111 GW (+18%). Hydropower capacity increased by 20 GW (+2%) and bioenergy by 2 GW (+2%). Geothermal energy increased by 164 MW. Solar and wind energy continued to dominate renewable capacity expansion, jointly accounting for 91% of all net renewable additions in 2020.

Growing demand for energy efficiency owing to the growing emphasis on renewable energy is leading to the growth of the market. In 2020, the consumption of all other fuels declined while the only source which increased the demand for energy sources was renewables 2020.  As the global economy recovers from the crisis, The renewable energy source witnessed an uptake, therefore, expand more quickly. As per International Energy Agency (IEA), in 2020,  the annual renewable capacity additions increased witnessed the highest year-on-year increase since 1999 and increased by 45% or 280 GW. Furthermore, exceptionally high-capacity additions become the “new normal” in 2021 and 2022, with renewables accounting for 90% of new power capacity expansion globally.

Global Renewable Energy Installed Capacity (in MW), 2011-2020

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Eaton Corporation PLC, Rogers Corporation, Methode Electronics Inc., Mersen SA, Amphenol Corporation, Suzhou West Deane Machinery, Shennan Circuitsm, Shenzhen Woer New Energy, Jans Copper, Storm Power Conductors, etc, are some of the prominent players operating in the Laminated Busbar market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.

Insights Presented in the Report

“Amongst material, copper segment holds the major share”

Based on the material, the market is fragmented into Copper and Aluminum. The copper segment grabbed the major market share and dominated the market in 2020. The key benefits of coppers such as Copper Laminated Busbars comprise flexible laminated copper connections that are produced using highly conductive electrolytic grade copper foil & sheets. Moreover, copper busbars also feature superior mechanical & electrical properties at higher temperatures. These also feature higher power density as well as better electromagnetic compatibility (EMC)

“Amongst insulation material, Epoxy Powder Coating segment to grab considerable market share”

Based on the insulation material, the market is fragmented into Epoxy Powder Coating, Polyester Film, PVF Film, Polyester Resin, and Others. The epoxy powder coating segment grabbed  XX% market share and captured USD XX Mn market. Epoxy powder coating is the perfect insulation for conductors that are oddly shaped, have unique sizes, or maybe known to undergo stress during installation. Moreover, by using the epoxy powder coating, difficult shapes and bends are easily insulated and installed, which cannot be accomplished by any other insulating method.

“Amongst end-user, utility segment to grab considerable market share in forthcoming years”

Based on the end-user, the market is fragmented into Utilities, Industrial, Commercial and Residential. The utility segment grabbed XX% market share in 2020. The growth in power distribution infrastructure and the surging investments for renewable generation are some of the key prominent factors that  are expected to drive the utility segment of the laminated busbar market “

“Asia Pacific represents one of the largest markets of Laminated Busbar market”

For a better understanding of the market adoption of the Laminated Busbar Market, the market is analyzed based on its worldwide presence in the countries such as North America (the United States and Canada), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia Pacific region constitutes a major market for the Laminated Busbar Market industry and generated revenue of USD XX Million in 2020 owing to the emerging high demand for Laminated Busbar from the automotive and power generation industry.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Laminated Busbar Market were the three major steps undertaken to create and analyze the demand for Laminated Busbar across major regions. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Laminated Busbar market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/ bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Laminated Busbar through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Laminated Busbar market, we conducted a detailed secondary analysis to gather historical market insights and share for material, insulation material, and end-user for major regions. Major segments included in the report are material and insulation material. Further region and country-level analyses were conducted to evaluate the overall adoption of Laminated Busbar across the globe.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Laminated Busbar. Further, we conducted factor analysis using dependent and independent variables such as the rising demand for renewable energy, emerging demand for the electric vehicle, etc., A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Laminated Busbar industry across the globe.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Laminated Busbar market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. bottom-up/ top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of Laminated Busbar across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Laminated Busbar market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

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Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Laminated Busbar market. Data was split into several segments sub-segments post studying various parameters and trends in the areas of material, insulation material, and end-user of the Laminated Busbar market.

Main Objective of the Laminated Busbar Market Study

The current & future market trends of Laminated Busbar were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of Laminated Busbar in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of material, insulation material, and end-user
• Define and analysis of the regulatory framework for the Laminated Busbar industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Laminated Busbar market for the major countries
• The major region studied in the report includes North America, Europe, Asia- Pacific, and the Rest of the World.
• Company profiles of the Laminated Busbar market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry