Laminated Busbar Market Trends, Share, and Growth (2024-2031)
The global laminated busbar market size is expected to grow from US$ 1.01 billion in 2023 to US$ 1.87 billion by 2031; it is anticipated to expand at a CAGR of 8.0% from 2024 to 2031. The expansion of power electronics and silicon carbide applications is likely to remain a key laminated busbar market trends.
Laminated Busbar Market Analysis
The need for laminated busbars is being driven by the integration of renewable energy sources, such as solar and wind power, into the electrical grid. Additionally, there is an increasing awareness of the need for energy-efficient and cost-effective electrical distribution systems, which further propels the laminated busbar market.
Laminated Busbar Market Overview
A laminated busbar is an engineering component made of manufactured metal layers separated by extremely thin dielectric materials and laminated into a single, cohesive structure. Bus bars help lower the total cost of the system, increase capacitance, improve dependability, and remove wiring faults. They also aid in reducing the system's impedance and inductance. The physical structure of the busbars provides outstanding qualities for the mechanical design of the busbars.
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Laminated Busbar Market: Strategic Insights
Laminated Busbar Market
-
CAGR (2024 - 2031)
8.0%
-
Market Size 2023
US$ 1.01 billion
-
Market Size 2031
US$ 1.87 billion
Market Dynamics
GROWTH DRIVERS
- Growth of Sustainable Energy System
FUTURE TRENDS
- Expansion of power electronics and silicon carbide applications
OPPORTUNITIES
- Technological Advancements in HVDC Technology
Key Players
- Electronic Systems Packaging LLC ESP
- Methode Electronics Inc
- Ryoden Kasei CO Ltd
- OEM International AB
- Storm Power Components
- Suzhou West Deane Machinery Inc
- Zhuzhou CRRC Times Electric Co Ltd
- Mersen SA
- Rogers Corporation
- Amphenol Corporation
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Conductor
- Aluminum and Copper
Insulation Material
- Polyester Film
- Heat-resistant Fiber
- Epoxy Powder Coating
- Polyamide Film
- Epoxy Glass
Application
- Datacenter
- Telecom
- Alternative Energy
- Power Electronics and SiC
- Transportation
- Aerospace & Defense
- Industrial
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Laminated Busbar Market: Strategic Insights
-
CAGR (2024 - 2031)8.0% -
Market Size 2023
US$ 1.01 billion -
Market Size 2031
US$ 1.87 billion
Market Dynamics
- Growth of Sustainable Energy System
- Expansion of power electronics and silicon carbide applications
- Technological Advancements in HVDC Technology
Key Players
- Electronic Systems Packaging LLC ESP
- Methode Electronics Inc
- Ryoden Kasei CO Ltd
- OEM International AB
- Storm Power Components
- Suzhou West Deane Machinery Inc
- Zhuzhou CRRC Times Electric Co Ltd
- Mersen SA
- Rogers Corporation
- Amphenol Corporation
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Aluminum and Copper
- Polyester Film
- Heat-resistant Fiber
- Epoxy Powder Coating
- Polyamide Film
- Epoxy Glass
- Datacenter
- Telecom
- Alternative Energy
- Power Electronics and SiC
- Transportation
- Aerospace & Defense
- Industrial
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Laminated Busbar Market Drivers and Opportunities
Growth of Sustainable Energy System to Favor Market
Government rules addressing the consequences of CO2 emissions on the environment as a result of improper fossil fuel burning necessitate the development of a sustainable energy system. In solar, wind, and fuel cells, DC energy is supplied directly into an insulated-gate bipolar transistor (IGBT) and capacitor circuit via low-inductance laminated bus bars, resulting in safe and efficient power. The laminated bus bar is designed for maximum packing efficiency. Designing all electrical connection points for IGBTs, capacitors, I/O, and monitoring devices into a single clean bus bar improves system dependability while also assuring optimal electrical performance. Furthermore, reduced emissions from laminated busbar-based batteries used in a variety of domestic applications would fuel future market expansion.
Technological Advancements in HVDC Technology
High-voltage direct current (HVDC) technology has advanced significantly in recent years, driving up demand for laminated busbars. HVDC technology has advanced in terms of possible voltage levels, transfer capacities, and transmission distances. Increasing demand for renewable energy, power transfers between asynchronous networks, underwater cables, and long-length transmission overhead lines have all contributed to these improvements. One of the primary benefits of HVDC systems is their superior controllability and stability as compared to high-voltage alternating current (HVAC) transmission systems. HVDC systems link two asynchronous or synchronous AC power systems using current source converters (CSCs) or voltage source converters (VSCs). This system needs a less costly busbar framework than HVAC systems.
Laminated Busbar Market Report Segmentation Analysis
Key segments that contributed to the derivation of the laminated busbar market analysis conductor, insulation material, and application.
- Based on conductor, the market is divided into copper and aluminum. The copper segment held a larger market share in 2023.
- Based on insulation material, the market is divided into polyester film, heat-resistant fiber, epoxy powder coating, polyamide film, and epoxy glass. The epoxy powder coating segment held a larger market share in 2023.
- Based on application, the market is divided into datacenter, telecom, alternative energy, power electronics and silicon carbides, transportation, aerospace & defense, industrial, and others. The power electronics and silicon carbides segment held a larger market share in 2023.
Laminated Busbar Market Share Analysis by Geography
The geographic scope of the laminated busbar market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. Europe dominated the laminated busbar market in 2023. The presence of important firms in the European region investing in key application areas is one of the primary reasons leading to the region's market dominance. Furthermore, rising power consumption, increased investment in the energy sector, a strong automotive and transportation industry, and expanding building activities are expected to boost the European laminated busbar market in the coming years.
Laminated Busbar Market Report Scope
Report Attribute
Details
Market size in 2023
US$ 1.01 billion
Market Size by 2031
US$ 1.87 billion
Global CAGR (2024 - 2031)
8.0%
Historical Data
2021-2022
Forecast period
2024-2031
Segments Covered
By Conductor - Aluminum and Copper
By Insulation Material - Polyester Film
- Heat-resistant Fiber
- Epoxy Powder Coating
- Polyamide Film
- Epoxy Glass
By Application - Datacenter
- Telecom
- Alternative Energy
- Power Electronics and SiC
- Transportation
- Aerospace & Defense
- Industrial
Regions and Countries Covered
North America - US
- Canada
- Mexico
Europe - UK
- Germany
- France
- Russia
- Italy
- Rest of Europe
Asia-Pacific - China
- India
- Japan
- Australia
- Rest of Asia-Pacific
South and Central America - Brazil
- Argentina
- Rest of South and Central America
Middle East and Africa - South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
Market leaders and key company profiles
- Electronic Systems Packaging LLC ESP
- Methode Electronics Inc
- Ryoden Kasei CO Ltd
- OEM International AB
- Storm Power Components
- Suzhou West Deane Machinery Inc
- Zhuzhou CRRC Times Electric Co Ltd
- Mersen SA
- Rogers Corporation
- Amphenol Corporation
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Attribute | Details |
---|---|
Market size in 2023 | US$ 1.01 billion |
Market Size by 2031 | US$ 1.87 billion |
Global CAGR (2024 - 2031) | 8.0% |
Historical Data | 2021-2022 |
Forecast period | 2024-2031 |
Segments Covered |
By Conductor
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Laminated Busbar Market News and Recent Developments
The Laminated Busbar market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
- In January 2023, Mersen was chosen to deliver smart laminated busbars for batteries for ACC. These busbars are critical components that link lithium-ion cells and communicate with the battery management system. Mersen will build the busbars in Auvergne-Rhône-Alpes before delivering them to ACC’s gigafactory in Billy-Berclau Douvrin. This deal has the potential to generate 60 employees in France.
(Source: Mersen, Press Release, 2023)
Laminated Busbar Market Report Coverage and Deliverables
The "Laminated Busbar Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter's Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Conductor Insulation Material ; Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The laminated busbar market size is expected to grow from US$ 1.01 billion in 2023 to US$ 1.87 billion by 2031; it is anticipated to expand at a CAGR of 8.0% from 2024 to 2031.
The need for laminated busbars is being driven by the integration of renewable energy sources, such as solar and wind power, into the electrical grid.
The expansion of power electronics and silicon carbide applications is likely to remain a key laminated busbar market trends.
The key players holding the majority of shares in global laminated busbars are Electronic Systems Packaging LLC (ESP), Methode Electronics, Inc., Ryoden Kasei CO., Ltd., OEM International AB, and Storm Power Components.
The global laminated busbar market is expected to reach US$ 1.87 billion by 2031.