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3. Laminated Busbar Market Size & Share - Future Growth Expectations

The global laminated busbar market size is expected to reach USD 1,296 million by 2030 from an estimated USD 863 million in 2023, at a CAGR of 6.0% during the forecast period. The major factors driving the growth of this market include the infrastructure modernization, growing electricity demand, renewable energy projects, energy efficiency prioritization, technological advancements and adoption of electric vehicle.

The laminated busbar market has been witnessing steady growth, driven by several factors.

• Rising Demand for Energy-Efficient Solutions
• Electrification Trends
• Increasing Use in Power Electronics/li>
• Focus on Space and Weight Reduction
• Growing Renewable Energy Sector
• Technological Advancements
• Stringent Regulatory Standards

To know about the assumptions considered for the study download the pdf brochure

Rising Demand for Energy-Efficient Solutions:

• With increasing emphasis on energy efficiency and sustainability, industries are seeking more efficient power distribution solutions. Laminated busbars offer lower impedance, reduced energy losses, and improved thermal performance compared to traditional cable and wire solutions. As a result, there's a growing adoption of laminated busbars in various applications to enhance energy efficiency and reduce operational costs.

Electrification Trends:

• The electrification of various industries, including automotive, aerospace, renewable energy, and industrial automation, is driving the demand for efficient power distribution solutions. Laminated busbars provide a compact and reliable means of distributing high currents in electric vehicles, renewable energy systems, and industrial machinery. As electrification trends continue to expand, the demand for laminated busbars is expected to rise correspondingly.

Increasing Use in Power Electronics:

• Laminated busbars are widely used in power electronic applications such as inverters, converters, and motor drives due to their high current-carrying capacity, low inductance, and superior thermal performance. With the growing adoption of power electronics in various industries, including automotive, consumer electronics, and renewable energy, the demand for laminated busbars as a key component in power electronic modules is on the rise.

Focus on Space and Weight Reduction:

• Laminated busbars offer significant advantages in terms of space and weight reduction compared to traditional cable and wire solutions. The compact design of laminated busbars allows for more efficient use of space in tight applications such as electric vehicles, data centers, and power distribution cabinets. Additionally, the lightweight construction of laminated busbars helps reduce overall system weight, making them ideal for applications where weight savings are critical.

Growing Renewable Energy Sector:

• The expansion of the renewable energy sector, particularly in solar and wind power generation, is driving the demand for laminated busbars in power conversion and distribution systems. Laminated busbars are used in inverters, combiner boxes, and other components of renewable energy systems to efficiently distribute power from solar panels or wind turbines to the grid. As the adoption of renewable energy continues to grow, the demand for laminated busbars is expected to increase accordingly.

Technological Advancements:

• Continuous advancements in materials, manufacturing processes, and design techniques are driving innovation in the laminated busbar market. Manufacturers are developing new materials with higher conductivity and improved thermal properties to enhance the performance of laminated busbars. Additionally, advancements in manufacturing technologies such as laser welding, additive manufacturing, and automated assembly are enabling the production of more complex and customized laminated busbar designs to meet specific application requirements.

Stringent Regulatory Standards:

• Stringent regulatory standards and safety requirements in industries such as automotive, aerospace, and power generation are driving the adoption of laminated busbars. Laminated busbars offer advantages in terms of reliability, safety, and compliance with regulatory standards such as UL, IEC, and RoHS. As industries strive to meet these regulatory requirements, the demand for laminated busbars as a reliable and compliant power distribution solution is expected to grow.

The laminated busbar market is poised for continued growth, driven by increasing demand for energy-efficient solutions, electrification trends, expansion of the renewable energy sector, focus on space and weight reduction, technological advancements, and stringent regulatory standards. As industries continue to prioritize efficiency, reliability, and sustainability in power distribution systems, laminated busbars are expected to play an increasingly important role in meeting these requirements.

Laminated Busbar Market Share - Global Industry Landscape

The laminated busbar market is characterized by the presence of several key players competing for market share. Some of the leading companies in the laminated busbar industry include:

• Amphenol Corporation (US)
• Methode Electronics, Inc. (US)
• Mersen Group (France)
• Rogers Corporation (US)
• Sun.King Technology Group Limited (China)

These companies, along with other regional and niche players, compete in the global laminated busbar market by offering a variety of products, services, and solutions to meet the diverse needs of customers in the power electronics and electrical distribution industries. Market share within the laminated busbar industry may vary based on factors such as product offerings, geographic presence, customer relationships, and technological capabilities.

Amphenol Corporation (US)

• Amphenol Corporation is a global manufacturer of interconnect products. The company engages in the design, production, and marketing of a wide range of electrical, electronic, and fiber-optic connectors, along with interconnect systems, antennas, sensors, sensor-based products, and specialized coaxial and high-speed cables. Operating through three distinct business segments—harsh environment solutions, communication solutions, and interconnect and sensor systems—Amphenol's interconnect and sensor systems segment, responsible for laminated busbars, emerged as the highest revenue-generating division in terms of net sales in 2022. Amphenol caters to diverse markets, providing equipment and services for automotive, broadband communications, commercial aerospace, industrial, information technology, data communications, military, mobile devices, and mobile networks. The company serves various end-users, including those in telecom, data solutions, and industrial applications. With manufacturing facilities spanning 30 countries, Amphenol's products reach customers in approximately 70 countries globally. The company's subsidiaries, such as Amphenol Adronics, Amphenol Advanced Sensors, Amphenol Air LB North America, Amphenol Borg, Amphenol China, Advanced Connector, Amphenol Commercial Interconnect Korea, Amphenol Japan, Amphenol LTW Technology, Amphenol Middle East Enterprises FZE, and Amphenol RF Asia, contribute to its widespread presence. In the laminated busbar market, Amphenol faces competition primarily from Rogers Corporation (US), Mersen (France), Methode Electronics (US), Ryoden (Japan), and Zhuzhou CRRC Times Electric (China).

Methode Electronics, Inc. (US)

• Methode Electronics, Inc. stands as a global manufacturer specializing in component and subsystem devices. The company's diverse product range includes electrical devices, radio remote controls, electronic devices, and wireless devices. Operating across automotive, industrial, interface, and medical segments, Methode's industrial segment encompasses laminated busbars, along with the production of braided flexible cables, current-carrying laminated busbars and devices, and custom power-product assemblies. These offerings find applications in various markets, including aerospace, computers, industrial and power conversion, military, telecommunications, and transportation. Methode Electronics extends its global reach through subsidiaries such as Methode Electronics China (Singapore), Methode Electronics International GmbH (Germany), Methode Electronics Connectivity Technologies (Scotland), and Methode Electronics Ireland (Ireland). The company boasts manufacturing, design, and testing facilities across China, Egypt, Germany, India, Italy, Lebanon, Malta, Mexico, Singapore, Switzerland, the UK, and the US. Key manufacturing sites include Shanghai, China; Cairo, Egypt; Mriehel, Malta, and Monterrey, Mexico. Noteworthy competitors in the industry for Methode Electronics include Rogers (US), Mersen (France), Amphenol (US), and Zhuzhou CRRC Times Electric (China).

Mersen Group (France)

• Mersen Group stands is a global leader in the provision of products and solutions in the realms of electrical power and advanced materials. The company operates through key business segments such as advanced materials and electrical power. Within the advanced materials segment, Mersen focuses on the development and production of various advanced materials, such as graphite, silicon carbide, and boron nitride. In the electrical power segment, the company engages in the design, manufacturing, and sale of a diverse range of electrical protection products, including fuses, lightning arresters, and surge protectors. Notably, Mersen offers laminated busbars as part of its electrical power segment. Establishing a robust industrial and commercial network, Mersen has cultivated close ties with leading industrial players globally. The primary end-use industries for the company span process industries, energy, electronics, transportation, and chemicals. Mersen operates in 35 countries across all continents, boasting 52 industrial facilities and 15 research and development centers. Major competitors for Mersen include Amphenol (US) and Zhuzhou CRRC Times Electric (China).

Rogers Corporation (US)

• Rogers Corporation is a global leader in engineered materials solutions, including laminated busbars. The company offers a variety of laminated busbar products for power electronics applications, such as electric vehicles, renewable energy systems, and industrial equipment.

Sun.King Technology Group Limited (China)

• Sun King Technology Group is a Chinese manufacturer of electrical power distribution and management products, including laminated busbars. The company offers laminated busbar solutions for various industries, including telecommunications, data centers, and renewable energy.

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