Laminated Busbar Market Size (2024 - 2029)

The laminated busbar market is anticipated to experience growth driven by increased power consumption, industrial activities, and a focus on distributed power generation. Despite challenges posed by the COVID-19 pandemic, such as supply chain disruptions and reduced demand in early 2020, the market is set to expand due to rising investments in power infrastructure and energy efficiency. The power utilities sector has been a significant contributor to the market, with Asia-Pacific emerging as the fastest-growing region due to heightened electricity consumption and renewable energy initiatives. However, competition from the unorganized sector may hinder market expansion.

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Market Size of Laminated Busbar Industry

Laminated Busbar Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
CAGR 6.70 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Laminated Busbar Market Major Players

*Disclaimer: Major Players sorted in no particular order

Laminated Busbars 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 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 Busbar Market Size Summary

The laminated busbar market is poised for significant growth, driven by increasing power consumption, industrial activities, and a heightened focus on distributed power generation. The market experienced a downturn due to the COVID-19 pandemic, which disrupted supply chains and halted construction projects. However, the recovery is supported by rising investments in power infrastructure and energy efficiency. The power utility sector is expected to remain dominant, fueled by the growing demand for clean energy and the expansion of distributed power generation. Despite challenges from unorganized sector competition, the market is set to benefit from the global shift towards clean energy projects and smart city developments.

Asia-Pacific is anticipated to be the fastest-growing region, with substantial demand from China, Japan, and India, driven by urbanization, industrialization, and increased electricity consumption. The region's investment in renewable energy and transmission infrastructure is expected to bolster the laminated busbar market. Key players in this fragmented market include Methode Electronics Inc., Rogers Corporation, Mersen SA, Sun.King Power Electronics Group Ltd, and Amphenol Corporation. Innovations such as ABB Ltd's laminated bus plate technology for low-voltage switchgear are expected to enhance market offerings, providing improved reliability, efficiency, and safety.

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Laminated Busbar Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Material

      1. 2.1.1 Aluminum

      2. 2.1.2 Copper

    2. 2.2 Insulation Material

      1. 2.2.1 Epoxy Powder Coating

      2. 2.2.2 Polyvinyl Fluoride Film

      3. 2.2.3 Polyester

      4. 2.2.4 Heat-Resistant Fiber

      5. 2.2.5 Other Insulation Materials

    3. 2.3 End-User

      1. 2.3.1 Power Utilities

      2. 2.3.2 Industrial

      3. 2.3.3 Transportation

      4. 2.3.4 Residential and Commercial

    4. 2.4 Geography

      1. 2.4.1 North America

      2. 2.4.2 Europe

      3. 2.4.3 Asia-Pacific

      4. 2.4.4 South America

      5. 2.4.5 Middle East & Africa

Laminated Busbar Market Size FAQs

The Laminated Busbar Market is projected to register a CAGR of greater than 6.70% during the forecast period (2024-2029)

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.

Laminated Busbars Market Report Snapshots

Laminated Busbar Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)