Laminated Busbar Market Analysis Europe, APAC, North America, Middle East and Africa, South America - US, Germany, China, UK, India - Size and Forecast 2024-2028

Laminated Busbar Market Size 2024-2028

The laminated busbar market size is forecast to increase by USD 280.4 million at a CAGR of 5.4% between 2023 and 2028.

• The market is experiencing significant growth due to the increasing application of this technology in various industries, particularly in electric vehicles (EVs) and renewable energy sectors. The adoption of advanced semiconductors, such as Insulated Gate Bipolar Transistors (IGBTs), in power electronics is driving the demand for laminated busbars. These semiconductors require efficient heat dissipation and EMI noise reduction, which are effectively addressed by laminated busbars. Moreover, the need for reliable power transmission systems with high inductance and capacitance is another growth factor for the market. Structural integrity and customizable design are additional benefits that make laminated busbars an attractive choice for various applications. In the automotive sector, the increasing popularity of electric vehicles is further fueling the demand for laminated busbars. However, the market faces challenges such as fluctuating copper prices and the need for continuous research and development to improve the efficiency and performance of these busbars.

What will be the Size of the Market During the Forecast Period?

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• The market is witnessing significant growth due to the increasing demand for efficient and reliable power distribution systems. These busbars are essential components in current distribution systems, enabling the transfer of electrical power from the power source to the load. Laminated busbars are fabricated using conductive metals such as copper and aluminum, sandwiched between dielectric materials. Their unique design offers several advantages, including improved power density, thermal management, and structural integrity. Power density is a crucial factor driving the growth of the market. As energy systems continue to evolve, there is a need for more compact and efficient power distribution solutions.

• Laminated busbars offer high power density, making them an ideal choice for various applications. Thermal management is another critical factor fueling the growth of the market. With the increasing use of IGBT semiconductors and capacitors in power electronics, there is a need for effective thermal management solutions. Laminated busbars provide excellent thermal conductivity, ensuring efficient heat dissipation and enhancing the overall performance of the power distribution system. Reliability is a significant concern in power distribution systems, and laminated busbars offer superior reliability. Their customizable design allows for the integration of EMI noise reduction features, ensuring minimal interference and maintaining the integrity of the power distribution system.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Material
  • Copper
  • Aluminium
  • Others
• Geography
  • Europe
    • Germany
    • UK
  • APAC
    • China
    • India
  • North America
    • US
  • Middle East and Africa
  • South America

By Material Insights

• The copper segment is estimated to witness significant growth during the forecast period.

Laminated busbars are essential components in the electrical industry, constructed from layers of copper and thin dielectric materials, bonded together to form a unified structure. Copper, known for its superior electrical and thermal conductivity, is the primary material used in the fabrication of laminated busbars. This metal offers desirable properties such as high strength, ductility, and corrosion resistance, making it an ideal choice for electrical applications. The electrical and electronics sector's growth is anticipated to fuel the demand for copper and, subsequently, laminated busbars. Copper's electrical conductivity is approximately 1.5 times greater than aluminum, making it a preferred input material for various electrical and electronic products.

Furthermore, laminated busbars find extensive applications in electrical products and power utilities due to their excellent electrical conductivity and thermal properties. In addition, they offer advantages such as EMI noise reduction, heat dissipation, reliability, and structural integrity. These features are crucial in various industries, including automotive, where laminated busbars are used to ensure efficient power distribution and reduce weight. Customizable design options further enhance the versatility of laminated busbars, catering to diverse industry requirements. Capacitors and inductors, key components in electrical systems, also benefit from the use of laminated busbars due to their ability to minimize inductance and capacitance, thereby improving overall system performance.

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The copper segment was valued at USD 541.10 million in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

• APAC is estimated to contribute 33% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The European market held the largest share in the market in 2023, driven by the expanding electric vehicle (EV) industry. With approximately 18% of new car sales being electric in Europe by 2023, the region's electric vehicle stock reached 40 million. This growth was significant, with a 62% increase in EV sales observed in Europe that year. Germany, France, and Spain were among the countries experiencing notable growth in EV sales. Laminated busbars are essential components in EVs due to their advantages, such as high current-carrying capacity and low inductance. These insulated bars, made from a conductive material with flexible PVC insulation, enable efficient power distribution in EVs.

moreover, as the demand for smaller, lighter components increases, size and weight reduction are also important considerations for the market. Manufacturers focus on meeting temperature requirements and insulated bar dimensions to ensure optimal performance in various applications. Companies such as International Wire, current-carrying Capacity, and Temperature Requirements are key players in the market, providing solutions that cater to the evolving needs of the EV industry.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in the adoption of the Laminated Busbar Market?

The application of laminated busbars in EVs is the key driver of the market.

• Laminated busbars play a significant role in various industries, including power electronics, renewable energy, and telecommunications. Their use offers numerous benefits, such as improved thermal performance, reduced electrical losses, and versatile connection options for battery, inverter, and electric motor applications. The space-saving design and vibration resistance of laminated busbars makes them an ideal choice for these industries. In the context of power electronics, laminated busbars provide efficient power distribution and help minimize electrical losses. In the renewable energy sector, they ensure reliable and stable power transmission from solar panels and wind turbines. In telecommunications, they support the transfer of large amounts of data with minimal signal degradation.

• The growing trend towards electric vehicles (EVs) and the need to reduce carbon emissions from traditional vehicles have fueled the demand for laminated busbars. The transportation industry is increasingly adopting these systems to improve the efficiency of electric and hybrid vehicles. The development of new-generation EVs is expected to further boost the demand for laminated busbars. As the world focuses on reducing carbon emissions and improving air quality, the demand for EVs is expected to increase significantly during the forecast period. This trend is encouraging automotive manufacturers to invest in the development and launch of EVs, further boosting the demand for laminated busbars.

What are the market trends shaping the Laminated Busbar Market?

The rise in adoption of renewable energy is the upcoming trend in the market.

• The renewable energy sector has witnessed significant growth due to the increasing adoption of natural energy sources such as solar, hydroelectric power, geothermal, tidal power, and wind energy. This shift towards renewable energy has led to an escalating demand for efficient power distribution systems, leading to the increasing use of laminated busbars.

• Laminated busbars, which consist of multiple layers of conductive metals, dielectric materials, and flexible busbars, play a crucial role in safely and efficiently transferring DC energy from renewable power sources to insulated gate bipolar transistor (IGBT) and capacitor circuits. The global market is expected to expand as the penetration of renewable energy sources in the global electricity generation mix continues to rise

What challenges does the Laminated Busbar Market face during its growth?

Fluctuation in copper prices is a key challenge affecting the market growth.

• Laminated busbars, a crucial component in electrical connections, are primarily manufactured using copper as the primary raw material. The price volatility of copper significantly influences the growth of the market. Economic factors, such as interest rates and economic growth, as well as the availability and attractiveness of substitute goods, political considerations, and external influences like the changing US dollar rate and oil price volatility, contribute to the price fluctuations of copper in 2022.

• Copper's significance as the third-most consumed metal globally amplifies the impact of its price fluctuations on market demand. Enhancing the performance and range of laminated busbars through lightweight designs and improved shock resistance while ensuring durability and extended component lifespan remains a priority for leading industry players like International Wire products, Custom-designed busbars manufacturers, and other key players.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Amphenol Corp.
• Bevone
• Electronic Systems Packaging LLC
• EMS Elektro Metall Schwanenmuhle GmbH
• Jans Copper Pvt. Ltd.
• KINTO Electric Co. Ltd
• Mersen Corporate Services SAS
• Methode Electronics Inc.
• Molex LLC
• Raychem RPG Pvt. Ltd.
• Rogers Corp.
• Ryoden Kasei Co. Ltd.
• Schneider Electric SE
• Segue Electronics Inc.
• Shanghai Yingfeng Electronic Technology Co. Ltd.
• Shenzhen Woer New Energy Electrical Technology Co. Ltd.
• Storm Power Components Co.
• Sun King Technology Group Ltd
• Suzhou West Deane Machinery Inc.
• Zhejiang RHI ELectric Co. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

Laminated busbars are a type of electrical conductor used for current distribution in various applications, including power generation, automotive, energy systems, datacom and telecom, aerospace, and renewable energy. These busbars are made using conductive metals such as copper and aluminum, sandwiched between dielectric materials for insulation. Flexible busbars, a variant of laminated busbars, offer increased flexibility and size reduction, making them suitable for applications with complex geometry. Thermal management is a critical factor in the design of laminated busbars. Power density, electrical losses, and temperature requirements are essential considerations for ensuring reliable performance. IGBT semiconductors, capacitors, and other power electronics components are often connected using laminated busbars due to their excellent thermal performance and ability to reduce EMI noise.

Furthermore, the use of laminated busbars in electric vehicles (EVs) and e-powertrains has gained significant attention due to their lightweight, space-saving design, and high current-carrying capacity. Customizable design options, including insulated bar dimensions and conductive material selection, allow for applications with varying insulation requirements and current flow. Laminated busbars offer vibration resistance and shock absorption, making them suitable for use in harsh environments. Diffusion welding and other manufacturing techniques ensure structural integrity and durability, extending component lifespan and improving overall system efficiency.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across Europe, APAC, North America, Middle East and Africa, and South America
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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