Laminated Busbar Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Laminated Busbar Market is segmented by Material (Aluminum and Copper), Insulation Material (Epoxy Powder Coating, Polyvinyl Fluoride Film, Polyester, Heat-Resistant Fiber, and Other Insulation Materials), End User (Power Utilities, Industrial, Transportation, and Residential and Commercial), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East & Africa)

Laminated Busbar Market Size

Laminated Busbar Market Summary
Study Period: 2019 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: > 6.7 %

Major Players

Laminated Busbar Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Laminated Busbar Market Analysis

The laminated busbar market is expected to record a CAGR of around 6.7% CAGR during the forecast period. The outbreak of COVID-19 in Q1 of 2020 negatively affected the laminated busbar market. Lockdown restrictions imposed by governments worldwide have affected end-user demand, as electric construction and infrastructure projects halted during Q1 of 2020. Additionally, disruptions in the supply chain and shipping industry affected the production and the import and export of electrical equipment in H1 2020. Factors such as an increase in power consumption, a rise in industrial activities, and the rising focus on distributed power generation are expected to drive the market during the forecast period. Added drivers for the market are a rise in investment in power infrastructure and a focus on increasing energy efficiency. However, growing competition from the unorganized sector is expected to restrain the growth of the laminated busbar market in the coming years.

  • Power utilities have dominated the market in recent years. The sub-sector is expected to be the largest market during the forecast period, owing to rising investment in power infrastructure and a rising focus on distributed power generation.
  • Globally, the focus has increased on investments in clean energy projects and the development of smart cities. As a result, the extensive development of new renewable projects and the development of green constructions are expected to create an excellent opportunity for the laminated busbar market in the future.
  • Asia-Pacific is expected to fastest-growing market during the forecast period, with the majority of the demand coming from China, Japan, and India, mainly due to a rise in electricity consumption and an increase in the renewable energy sector.

Laminated Busbar Industry Segmentation

The laminated busbar market report includes:

Material
Aluminum
Copper
Insulation Material
Epoxy Powder Coating
Polyvinyl Fluoride Film
Polyester
Heat-Resistant Fiber
Other Insulation Materials
End-User
Power Utilities
Industrial
Transportation
Residential and Commercial
Geography
North America
Europe
Asia-Pacific
South America
Middle East & Africa

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Laminated Busbar Market Trends

This section covers the major market trends shaping the Laminated Busbar Market according to our research experts:

Power Utility Sub-sector to Dominate the Market

  • The power utility sector is expected to dominate the laminated busbar market in the forecast period, owing to factors like a rising share of distributed power generation in total electricity generation, increasing demand for clean energy, and a rise in focus on energy efficiency in the sector.
  • According to the BP Statistical Review of World Energy 2022, global electricity generation capacity in 2021 was 28,466.3 TWh (Terawatt-hours), up from 24,270.5 TWh in 2015. With the rise in population and urbanization, the electricity demand is bound to grow, and with it, the market for laminated busbars is expected to grow during the forecast period.
  • In recent years, significant countries in the Asia-Pacific region have witnessed high rates of electricity demand, owing to the unprecedented growth of the economy along with the rapid industrialization and urbanization of the region. For instance, China's economy grew by around 8.1% in 2021, and the average annual electricity consumption during the 2020-2021 period grew by nearly 5.4%.
  • Increasing demand for clean energy is one of the primary drivers for the power distribution sector and, in turn, for the laminated busbars in the industry. Electricity generation from renewable energy sources grew from 1,634.4 TWh in 2015 to 3,657.2 TWh in 2021.
  • Therefore, with the increase in the demand for electricity and clean energy, the power utility sector is expected to rise. In turn, the market is expected to grow for laminated busbar in the power utility sector.
Electricity Generation, in Tera Watt-hours (TWh), Global, 2016-2021

Asia-Pacific to Dominate the Market

  • Asia-Pacific is expected to be the fastest-growing market during the forecast period. Asia-Pacific is among one of the fastest-growing regions worldwide due to the increasing population, urbanization, and industrialization. As a result, the demand for a guaranteed power supply is high. Many countries are investing in the renewable energy sector and transmission and distribution infrastructure to address these demands.
  • As per the International Energy Agency (IEA), the world’s most populated country China is expected to install 36% of total worldwide hydroelectricity generation capacity and 40% of all global wind energy between 2015-2021. Already, China has over 259,000 MW of new coal plants in various stages of development and accounts for more than one-third of the global coal plant pipeline.
  • According to the BP Statistical Review of World Energy 2022, in 2021, the Asia-Pacific region reached 1,690.1 Terawatt-hours of renewable power generation capacity, creating demand for grid development, including electrical equipment, which will drive the market for laminated busbar in the region.
  • On the other hand, both China and India hold a significant share of the world’s industrial sector, mainly the energy-intensive manufacturing sector. For Instance, in China, Industrial production grew by 4.3% Y-o-Y in December 2021.
  • Moreover, the region has several upcoming transmission and distribution projects like the Changji-to-Guquan project in China, and the 23 interstate transmission system projects in India are likely to support the growth of the market during the forecast period.
Laminated Busbar Market - Growth Rate by Region, 2022-2027

Laminated Busbar Industry Overview

The laminated busbar market is highly fragmented. Some of the key players in this market include Methode Electronics Inc., Rogers Corporation, Mersen SA, Sun.King Power Electronics Group Ltd, and Amphenol Corporation.

Laminated Busbar Market Leaders

  1. Methode Electronics Inc.

  2. Rogers Corporation

  3. Mersen SA

  4. Sun.King Power Electronics Group Ltd.

  5. Amphenol Corporation

*Disclaimer: Major Players sorted in no particular order

Laminated Busbar Market Concentration

Laminated Busbar Market News

  • In February 2020, ABB Ltd planned to introduce laminated bus plate technology for low-voltage switchgear. The new technology is combined with the ABB Ability platform, and it offers the highest reliability, better efficiency, maximum safety, more flexibility, and measurable return on investment (ROI).
  • In March 2020, BRAR announced the successful completion of factory cold tests of busbars and Aluminium Power Conducting Arms for SMS Group.

Laminated Busbar Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. EXECUTIVE SUMMARY

  3. 3. RESEARCH METHODOLOGY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 Porter's Five Forces Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitutes Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Material

      1. 5.1.1 Aluminum

      2. 5.1.2 Copper

    2. 5.2 Insulation Material

      1. 5.2.1 Epoxy Powder Coating

      2. 5.2.2 Polyvinyl Fluoride Film

      3. 5.2.3 Polyester

      4. 5.2.4 Heat-Resistant Fiber

      5. 5.2.5 Other Insulation Materials

    3. 5.3 End-User

      1. 5.3.1 Power Utilities

      2. 5.3.2 Industrial

      3. 5.3.3 Transportation

      4. 5.3.4 Residential and Commercial

    4. 5.4 Geography

      1. 5.4.1 North America

      2. 5.4.2 Europe

      3. 5.4.3 Asia-Pacific

      4. 5.4.4 South America

      5. 5.4.5 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Eaton Corporation PLC

      2. 6.3.2 Ryoden Kasei Co. Ltd

      3. 6.3.3 Methode Electronics Inc.

      4. 6.3.4 Rogers Corporation

      5. 6.3.5 Mersen SA

      6. 6.3.6 Sun.King Power Electronics Group Ltd

      7. 6.3.7 Zhuzhou CRRC Times Electric Co. Ltd

      8. 6.3.8 Amphenol Corporation

      9. 6.3.9 Shanghai Eagtop Electronic Technology Co. Ltd

      10. 6.3.10 Molex LLC

      11. 6.3.11 Suzhou West Deane Machinery Inc.

      12. 6.3.12 Storm Power Components

      13. 6.3.13 Electronic Systems Packaging LLC

      14. 6.3.14 Raychem RPG Private Limited

      15. 6.3.15 EMS Industrial & Service Company

      16. 6.3.16 Zhejiang RHI ELectric Co. Ltd

      17. 6.3.17 Segue Electronics Inc.

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Laminated Busbar Market Research FAQs

The Laminated Busbar Market is studied from 2019 - 2028.

The Laminated Busbar Market is growing at a CAGR of >6.7% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2019 - 2028.

Asia Pacific holds highest share in 2021.

Methode Electronics Inc. , Rogers Corporation , Mersen SA , Sun.King Power Electronics Group Ltd. , Amphenol Corporation are the major companies operating in Laminated Busbar Market.

Laminated Busbar Industry Report

Statistics for the 2023 Laminated Busbar market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Laminated Busbar analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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