(MENAFN- PR Newswire) Europe faces a significant challenge in transitioning its power sector to clean energy sources to meet ambitious climate goals. This transition demands substantial investments across various areas of the power sector. The European Commission aims for a 55% renewable energy share by 2030, requiring an annual investment of approximately USD 660 billion. Grid infrastructure upgrades are estimated at USD 380 billion annually by 2030, while enhancing interconnectivity between European countries demands around USD 60 billion annually. Research and development investments in clean energy technologies are projected at USD 50 billion annually by 2030. The European Commission has committed USD 1.2 trillion between 2021 and 2027 through its Green Deal initiatives, with the European Investment Bank (EIB) allocating USD 100 billion to support climate action and clean energy projects from 2021 to 2025. Private sector investment in European renewable energy reached USD 55 billion in 2022. Given the significant investments in renewables, grid modernization, and interconnectivity, there is an increased need for more efficient and reliable power distribution systems, potentially driving demand for laminated busbars.
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Key Market Players
Key players in the global Laminated Busbar Companies
include Amphenol Corporation (US), Methode Electronics, Inc. (US), Mersen Group (France), Rogers Corporation (US), Zhuzhou CRRC Times Electric Co., Ltd. (China), and
Sun Technology Group Limited (China).
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