Laminated Busbar Market Size

Laminated Busbars Market Analysis

The laminated busbar market is expected to record a CAGR of around 6.7% CAGR during the forecast period. The outbreak of COVID-19 in Q1 of 2020 negatively affected the laminated busbar market. Lockdown restrictions imposed by governments worldwide have affected end-user demand, as electric construction and infrastructure projects halted during Q1 of 2020. Additionally, disruptions in the supply chain and shipping industry affected the production and the import and export of electrical equipment in H1 2020. Factors such as an increase in power consumption, a rise in industrial activities, and the rising focus on distributed power generation are expected to drive the market during the forecast period. Added drivers for the market are a rise in investment in power infrastructure and a focus on increasing energy efficiency. However, growing competition from the unorganized sector is expected to restrain the growth of the laminated busbar market in the coming years.

• Power utilities have dominated the market in recent years. The sub-sector is expected to be the largest market during the forecast period, owing to rising investment in power infrastructure and a rising focus on distributed power generation.
• Globally, the focus has increased on investments in clean energy projects and the development of smart cities. As a result, the extensive development of new renewable projects and the development of green constructions are expected to create an excellent opportunity for the laminated busbar market in the future.
• Asia-Pacific is expected to fastest-growing market during the forecast period, with the majority of the demand coming from China, Japan, and India, mainly due to a rise in electricity consumption and an increase in the renewable energy sector.