Laminated Busbar Market Highlights
Laminated Busbar Market share is expected to grow at a 6.79% CAGR during the forecast period 2022-2030 due to growing demand for hybrid and the electric vehicles.
Top Boosters and Main Barriers
Laminated busbars are gaining significant favor among prominent end-users owing to several benefits they offer, which includes the ability to bring down the system costs, enhance reliability, increase capacitance, and prevent wiring errors. They are also used for reducing the inductance and impedance, another reason for its strong demand in the market. Their broad application range includes transportation, alternative energy, telecommunication, power electronics, computers, industrial, military and more.
The urgently rising need for energy efficiency, escalating energy costs, and the increasing use of green energy sources also promote growth of the laminated busbar market. The constant surge in the demand for parallel battery connection, paired with the strict government policies pertaining to energy have also stimulated market growth to a large extent. Increasing demand for laminated busbar in various industrial applications coupled with the emerging trend of extensive use of renewable energy sources can also lead to market growth in the following years.
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Report Attribute/Metric | Details |
CAGR | 6.79% CAGR (2022-2030) |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2019 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Insulation Material, Conductor and End-Use |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
The soaring demand for power electronics, frequent technological advancements in the energy and power sector, emergence of smart cities, and the mounting awareness among consumers are also touted to be important growth inducers in the laminated busbar industry.
Segmental Review
The segmental review of the laminated busbar market has been conducted for insulation material, conductor and end-use.
The insulation materials covered in the market study are kapton, epoxy powder coating, tedlar, nomex, teonex and mylar. The demand for the tedlar material is the highest in the market, rendering it the biggest segment. Tedlar is extensively deployed in adverse environment, given its exceptional performance in extreme temperature as well as high-pressure.
The conductor-wise market segmentation includes copper and aluminum.
The end-users covered in the report are alternative energy, transportation, datacenters, telecom, aerospace defense, industrial, power electronics silicon carbides, among others. It is expected that the power electronics segment can dominate the worldwide market in the years ahead, on account of the heightened demand for renewable energy sources.
Regional Insight
Europe, APAC or Asia Pacific, North America and RoW or rest of the world are the top markets for laminated busbar across the globe.
The APAC market can largely benefit from the increasing use of renewable energy sources, mounting awareness regarding energy saving as well as efficiency, and the escalating demand for electric and hybrid vehicles. The rising prevalence of smart cities gives rise to opportunities in the regional market for laminated busbar. The fast economic growth across nations like India and China has led to a surge in the energy demand along with its consumption, due to which power outages and shortage have become quite common. With the aim to find a solution for these issues, various government bodies across the region are working on improving their infrastructure with the use of energy efficient products like laminated busbar, leading to better business expansion.
The rapidly growing share of renewable energies contributes majorly towards the market growth in Europe. The heightened use of electric vehicles and hybrid vehicles backed by the strong support of the government in countries like France, Germany, the UK and Denmark, pushes the uptake of laminated busbars in the region. The region is also concentrated with a number of renowned players that are constantly working on product innovations and other strategies to fortify their presence in the market. One such company is Mersen in France, known for its vast product offering pertaining to electrical power materials. The company is constantly adopting organic as well as inorganic strategies to expand its worldwide presence. To illustrate, in May 2018, the company had acquired FTCap, leading to broadening of the company’s range of laminated busbars.
Renowned Contenders
Renowned contenders operating in the market for laminated busbar are Suzhou West Deane Machinery (China), Jans Copper (India), Mersen (France), Methode Electronics (US), Shenzhen Woer New Energy (China), Amphenol (US), Storm Power Conductors (US), Rogers (Canada), Electronic Systems Packaging (US), OEM Automatic (UK), Sun.King Power Electronics (China), Shennan Circuits (China), Ryoden Kasei (Japan), Zhuzhou Crrc Times Electric (China), Idealac (Jordan), to mention a few.
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