Global Laminated Busbar Market is segmented By Material(Copper, Aluminum), By Insulation Material(Epoxy Powder Coating, Polyester Film, PVF Film, Polyester Resin, Heat-Resistant, Fiber, Polyimide Film), By End-User(Utilities, Industrial, Commercial, Residential, EV Charging Infrastructure), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Report Overview
Global Laminated Busbar Market is growing at a high CAGR during the forecast period (2024-2031). Busbars are metal structures, often made of copper or aluminum, and are used to carry and direct large amounts of current in an electrical distribution system.
Market Summary
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Metrics |
Details |
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Market CAGR |
High |
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Segments Covered |
By Material, By Insulation Material, By End-User, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Busbars distribute alternating current (AC) power to circuit breakers. Busbars reduce costs, increase reliability and help maximize system performance. Busbar is an essential component for designing the integrated architecture for modern electrical systems.
Market Dynamics
The global shift towards sustainable energy mainly drives the demand for laminated busbars. The high costs involved in laminated busbar systems are a key factor in limiting the growth of this market.
Increasing global shift toward sustainable energy
Due to the growing threat from the harmful effects of man-made climate change, a radical shift in energy consumption is underway globally. Efforts are underway to decarbonize global electricity production and transmission and make it more sustainable. Significant investment is being undertaken to upgrade and improve existing electric infrastructure across the globe.
The upcoming years will see the growing mass adoption of environmentally friendly transportation alternatives such as electric and hydrogen fuel cell vehicles. Municipal and national governments are also investing significantly in mass public transit projects such as metros, monorails, and electric buses. It is expected to create a surge in demand for electricity.
Developing and underdeveloped countries worldwide still lack access to stable electricity supply. Access to electricity is a basic right and not a luxury in the modern age. A reliable electricity supply is essential to spur economic development in these countries. The growing adoption of sustainable energy resources is also likely to give these countries an affordable energy source.
Busbars are metal structures, often made of copper or aluminum, and are used to carry and direct large amounts of current in an electrical distribution system. Busbars distribute alternating current (AC) power to circuit breakers. Busbars reduce costs, increase reliability and help maximize system performance. It is an essential component of a modern electricity distribution system. The increasing global shift towards sustainable energy is expected to greatly increase the demand for busbars to ensure reliability and performance. It is a key driver of the growth of the market.
High costs involved in the laminated busbar system
The laminated busbar has several key advantages that make it ideal for industrial and commercial electrical applications. However, there are also quite prominent disadvantages to using the laminated busbar system. The design, construction, and installation of laminated busbar systems involve incredibly high costs.
Special materials are used for the laminates, which require unique manufacturing and fabrication processes. It increases the manufacturing costs for the component. Since busbars are a critical electrical system component, they are subjected to exhaustive safety tests as mandated by various governmental regulations. Ensuring compliance with various international governmental regulations is another factor in driving up the costs for laminated busbars.
Furthermore, a highly skilled technician must install and commission busbar systems, thereby increasing installation costs. Busbars are commercially unviable if the number of switchgear within the electricity distribution system is low. The abovementioned factors involve high costs for laminated busbars and prevent their wider adoption. It is a key challenge for the growth of the market.
COVID-19 impact on Market
The COVID-19 epidemic had a major impact on the global laminated busbar business. Manufacturing activity was interrupted due to government-imposed lockdowns and other movement restrictions. It has a significant impact on manufacturing laminated busbars and other essential electrical components.
Before the pandemic, governments and other end-users could meet the demand for laminated busbars from accumulated reserve supplies. However, due to a production shortfall, much of the crucial infrastructure development was delayed due to depleted reserves. The fabrication of components for laminated busbars is subcontracted to third-party manufacturers in various countries, resulting in a global supply chain. The pandemic has wreaked havoc on global supply networks, exacerbated by logistical delays. It has wreaked havoc on production, with laminated busbar production not anticipated to resume until 2021.
The COVID-19 epidemic has had a significant short-term impact on the laminated busbar market. Because governments prioritize investment in updating power infrastructure to maintain a steady energy supply, the pandemic will have a small influence on the global laminated busbar market's medium to long-term growth. It will result in a surge in demand for various electrical components. The demand for laminated busbar is still high and it is likely to continue to rise in the coming years.
Market Segment Analysis
The global Laminated busbar market is segmented into material, insulation material, end-user, and region. The laminated busbar market is segmented into copper and aluminum based on material. Copper is expected to hold the largest market size for laminated busbars during the forecast period in the material segment. Copper is the most widely used material for electrical components. Copper has excellent electrical conductivity along with high surge protection properties. It is the ideal material for manufacturing electrical transmission and distribution equipment.
Market Geographical Share
Asia-Pacific is leading in the global laminated busbar market. The region accounts for the largest market share, primarily due to the presence of China and India. Both countries have a combined population of nearly 3 billion people, accounting for nearly 36% of the total global population. Both countries are rapidly industrializing and have made significant investments in electricity generation, transmission, and public infrastructure. Apart from India and China, there are a lot of rapidly industrializing countries in the region, such as Thailand, Vietnam, Indonesia, Malaysia, and Bangladesh.
China has the world's second-largest railway network, extending nearly 150,000 kilometers, with nearly 100,000 electrified. China also possesses the world's largest high-speed rail network. India's rail network has 126,366 kilometers, with almost 45,000 kilometers electrified. India is also constructing a high-speed rail system. Both countries are undertaking major infrastructure programs to upgrade the electricity distribution network.
Rising residential and commercial construction in the region is another main factor in the increasing electricity demand. Many new manufacturing industries are shifting to the Asia-Pacific region to take advantage of cheap labor, low tax regimen, and other favorable business policies. It is creating unprecedented demand for stable electricity within the region. The Asia-Pacific region is expected to retain the largest share of the global laminated busbar market.
Companies and Competitive Landscape
The global Laminated busbar market is competitive due to a wide range of laminated busbar systems that cater to various applications across various industrial verticals. Some of the players contributing to the growth in the market are Mersen, Amphenol Corporation, Methode Electronics, Rogers Corporation, Ryoden Corporation, Storm Power Components, Zhuzhou CRRC Times Electric Co. Ltd, Sun King Technology Group Limited, Shenzhen Busbar Sci-Tech Development Co. Ltd, and Shanghai Eagtop Electronic Technology Co., Ltd. The significant players adopt several growth strategies such as new product launches, joint ventures, and collaborations, contributing to global growth in the industry.
Mersen
Overview: Mersen, formerly known as Carbon Lorraine, is a major international engineering company specializing in designing and manufacturing electrical power components and equipment and advanced materials. The company has 53 manufacturing facilities in 35 countries and its products are sold in more than 100 countries globally through a network of various subsidiaries and hundreds of distributors. Mersen was founded in 1917 and is headquartered in La Defense, France.
Product Portfolio
- MHi-T BusBar is the company's range of laminated busbars for wide bandgap (WBG) technology power supply applications. The busbar is constructed from high polyaramid dielectric insulation and high-temperature adhesive. The laminated busbar is specially designed for high-temperature resistance, with a working temperature range from 130°C and 180°C. The MHi-T busbar is fully compliant with REACH, RoHS, CTI (400V), UL94, and EN45545-2 safety standards for insulation.
Key Developments:
In September 2020, Mersen unveiled the BusFLEXX, a new range of flexible and conforming busbars. The busbar has static and dynamic properties and a significant degree of freedom along the three axes of rotation. The busbars can be customized to fit the client's requirements and applications.
