Laminated Busbar Market | Size, Share, and Analysis 2029
Laminated Busbar Market was value at USD 918 million in 2021 and is expected to rise at a single digit CAGR of 6.4% during the forecast period, and is estimated to reach USD 1,508 million in 2029 The factors driving growth of Laminated Busbar Market includes increasing focus on utilizing renewable energy sources of energy, growing demand for safe and secure electrical distribution systems, rising penetration of electric and hybrid vehicles around the world and improvements in the living standards. Moreover, growing consumption of electricity, rising awareness about saving energy, technological advancements in laminated busbars, increase in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, strategic collaborations between key industry players and growing population growth rates, are further contributing towards the market