Laminated Busbar Market Expands with Industrial Automation Adoption
The global laminated busbar market size was estimated at USD 821.5 million in 2023 and is projected to reach USD 1.25 billion by 2030, growing at a CAGR of 5.3% from 2024 to 2030. The automotive sector is undergoing a rapid shift toward electric mobility, driven by stringent emissions regulations and increasing consumer preference for environmentally friendly vehicles. Laminated busbars play a pivotal role in electric vehicles by effectively distributing electrical power among batteries, power electronics, and other system components. Their capacity to reduce inductance and enhance thermal performance makes them well-suited for high-power applications in EVs, fueling demand in this sector. The global transition to renewable energy sources, such as solar and wind, has significantly boosted investments in renewable infrastructure. Laminated busbars are integral to power conversion and distribution systems in these installations, ensuring dependable and efficient conne...