The global laminated busbar market is projected to reach USD 1,183 million by 2025 from an estimated market size of USD 861 million in 2020, at a CAGR of 6.6% during the forecast period. Cost-efficiency and operational benefits of laminated busbars, demand for safe and secure electrical distribution systems, and focus on renewable energy are likely to drive the market growth. Europe is expected to be the largest market for laminated busbars, followed by Asia Pacific till 2025.
The laminated busbar market is served by a mix of large international players with presence and capabilities across different regions and local players with a strong foothold in the domestic markets. The key players operating in the market include Rogers (US), Amphenol (US), Mersen (France), Methode (US), and Sun.King Power Electronics (China).
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The major market growth strategies adopted by key players in the laminated busbar market include investments & expansions, contracts & agreements, and new product launches. New product launches was the most adopted strategy between January 2016 and November 2019. Mergers & acquisitions have emerged as a key strategy, as companies look to strengthen their service offerings and geographic market reach by offering their product.
Amphenol Corporation (US) is one of the leading manufacturers of interconnect products globally. The company designs, manufactures, and markets electrical, electronic, and fiber-optic connectors, interconnect systems, antennas, sensors and sensor-based products, and coaxial and high-speed specialty cables. It operates through two business segments, namely, interconnect products and assemblies and cable products and solutions. The company offers laminated busbars under the interconnect products and assemblies segment, which was the highest revenue-generating division in terms of net sales in 2018. Amphenol’s key business strategy is global diversification across its product portfolio and its operational regions. In July 2017, the company launched a new product named Amphe-PD, which can be used in data center equipment, robotics, and industrial automation. It has also expanded its business in the US by setting up a manufacturing unit, which would help the company to strengthen its product portfolio.
Methode Electronics (US) is a global manufacturer of component and subsystem devices. The company manufactures electrical devices, radio remote controls, electronic devices, wireless devices, and sensing technologies. It operates in four segments, namely, automotive, interface, power products, and others. Laminated busbars are a part of the power products segment. Under this segment, the company also manufactures braided flexible cables, current-carrying laminated busbars and devices, and custom power-product assemblies. Methode Electronics has more than 45 years of experience in designing and manufacturing busbars. The company focuses on product innovations by adopting new technologies, which is likely to help its customers operate efficiently. The company has also invested in R&D to enhance its existing product portfolio across all business segments.
Laminated Busbar Market by Material (Copper, Aluminum), End-User (Utilities, Industrial, Commercial, Residential), Insulation Material (Epoxy Powder Coating, Polyester Film, PVF Film, Polyester Resin, and Others), and Region - Global Forecast to 2025
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