| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| CAGR | 6.70 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Laminated Busbars Market Analysis
The Laminated Busbar Market is expected to register a CAGR of greater than 6.7% during the forecast period.
- 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 Busbars Market Trends
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.
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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.
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Laminated Busbars 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 Busbars Market Leaders
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Methode Electronics Inc.
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Rogers Corporation
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Mersen SA
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Sun.King Power Electronics Group Ltd.
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Amphenol Corporation
- *Disclaimer: Major Players sorted in no particular order
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Laminated Busbars 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 Busbars 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 Busbars Market Research FAQs
What is the current Laminated Busbar Market size?
The Laminated Busbar Market is projected to register a CAGR of greater than 6.7% during the forecast period (2025-2030)
Who are the key players in Laminated Busbar Market?
Methode Electronics Inc., Rogers Corporation, Mersen SA, Sun.King Power Electronics Group Ltd. and Amphenol Corporation are the major companies operating in the Laminated Busbar Market.
Which is the fastest growing region in Laminated Busbar Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Laminated Busbar Market?
In 2025, the Asia Pacific accounts for the largest market share in Laminated Busbar Market.
What years does this Laminated Busbar Market cover?
The report covers the Laminated Busbar Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Laminated Busbar Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Laminated Busbars Industry Report
Statistics for the 2025 Laminated Busbar market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Laminated Busbar analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
