Laminated Busbar Market Overview and Growth by 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

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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 Regional Insights

The regional trends and factors influencing the Laminated Busbar Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Laminated Busbar Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Laminated Busbar Market Report Scope

Laminated Busbar Market Players Density: Understanding Its Impact on Business Dynamics

The Laminated Busbar Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

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