NEWARK, Del, March 12, 2024 (GLOBE NEWSWIRE) -- The global laminated busbar market is anticipated to reach a valuation of US$ 1.1 billion in 2024, driven by integration with renewable energy systems. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 7.1% between 2024 and 2034, and reaching a total valuation of approximately US$ 2.2 billion by 2034.
The deployment of energy storage systems, including batteries and supercapacitors, is increasing to support grid stability, load balancing, and integration of renewable energy. Laminated busbars are essential components in energy storage systems, facilitating efficient energy transfer and management within these systems.
Many regions are investing in modernizing their electric grids to enhance reliability, efficiency, and resilience. Laminated busbars are integral to grid modernization efforts, enabling the integration of smart grid technologies, distribution automation, and grid monitoring systems for improved grid performance and management.
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Continued advancements in manufacturing technologies, such as additive manufacturing, laser cutting, and precision machining, are enabling the production of laminated busbars with complex geometries, customized designs, and tighter tolerances. The manufacturing innovations allow for greater design flexibility and customization to meet specific application requirements.
Industries such as automotive, aerospace, and industrial equipment place a premium on reliability and durability in power distribution systems to ensure uninterrupted operation and minimize downtime. Laminated busbars engineered with high quality materials and robust construction techniques offer enhanced reliability and durability, meeting the stringent performance requirements of demanding applications.
Various industries, including manufacturing, mining, and agriculture, are increasingly adopting electrification solutions to reduce reliance on fossil fuels, improve energy efficiency, and mitigate environmental impact. Laminated busbars play a vital role in electrification initiatives by providing efficient and reliable power distribution solutions for electrified equipment and machinery.
Key Takeaways from the Market Study
- Global laminated busbar market was valued at US$ 1.0 billion in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of 8.8%.
- The market in Japan is expected to expand at a CAGR of 6.0% through 2034.
- By insulation, the epoxy powder coating segment to account for a CAGR of 6.8% through 2034.
- The market in Korea is expected to expand at a CAGR of 9.3% through 2034.
- In terms of conductor, the copper segment to account for a CAGR of 6.6% through 2034.
“Industries such as aerospace, defense, and automotive are increasingly demanding lightweight and compact power distribution solutions to meet stringent performance and space constraints. Laminated busbars offer advantages in terms of weight reduction, space savings, and high power density, making them attractive for applications requiring compact and lightweight designs,” opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI)
Competitive Landscape
Prominent players in the laminated busbar market are
- Amphenol,
- Rogers Corporation,
- Mersen,
- ABB, Bevone,
- Jans Copper Private Limited,
- Sun.King Power Electronics Group Limited,
- Methode Electronics,
- OEM Automatic Ltd,
- Raychem RPG,
- Schneider Electric,
- Storm Power Components,
among others.
Company Portfolio
- Storm Power Components is a leading manufacturer of custom engineered electrical components, including laminated busbars. The laminated busbar portfolio of the company encompasses a variety of materials, including copper, aluminum, and flexible laminates, with options for insulation coatings and custom configurations.
- Methode Electronics, Inc. specializes in innovative solutions for electronic interconnects and power distribution systems, including laminated busbars. The company offers a comprehensive portfolio of laminated busbars engineered for high current applications, featuring advanced materials and design technologies for optimal performance and reliability.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global laminated busbar market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the laminated busbar market, the market is segmented on the basis of insulation (2 epoxy powder coating, polyimide film, polyester resin, PVF film, heat resistant fiber, others), conductor (copper, aluminum), and end user (automotive, telecom, aerospace and defense, industrial, renewable energy, others), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and the Middle East & Africa).
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Segmentation Analysis of the Laminated Busbar Market
By Insulation:
- Epoxy Powder Coating
- Polyimide Film
- Polyester Resin
- PVF Film
- Heat Resistant Fiber
- Others
By Conductor:
- Copper
- Aluminum
By End User:
- Automotive
- Telecom
- Aerospace and Defense
- Industrial
- Renewable Energy
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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