Global Laminated Busbar Market Size, Growth Report, Share, Schedule 2032

(MENAFN- Straits Research) Laminated busbars are electrical conductors used in various industries and applications for efficient power delivery. They are composed of many conductive layers separated by insulating layers. With the need for safe and secure electrical distribution systems and the emphasis on renewable energy, the market share is predicted to grow at a 7.6% CAGR because of laminated busbars' cost-effectiveness and operational advantages. Furthermore, the business is driven by several issues, including increased demand for safe and secure electrical distribution systems and rising power demand. Also, the growing integration of renewable energy will propel the laminated busbar market forward.
Market Dynamics
Rising Demand for Electric Vehicles Stimulates Market Growth
As the automobile industry shifts toward electric mobility, laminated busbars are essential for EV power distribution. EVs need laminated busbars to distribute power in their electrical systems properly. They are in battery packs, power inverters, motor drives, and charging systems. The Model 3 electric car from Tesla features laminated busbars. The Model 3's laminated busbars efficiently transport electricity between the battery, inverter, and electric motor. Sales of electric vehicles will approach 10 million by 2022. Electric car sales increased in three years, from 4% in 2020 to 14% in 2022. Through 2023, EV sales should continue strong.
As manufacturers debut EV models and governments support sustainable mobility, laminated busbars will help electric vehicles succeed globally by distributing electricity efficiently.
Renewable Energy Integration Creates Tremendous Opportunities
Renewable energy sources like solar and wind power have great potential worldwide. As the world transitions to cleaner energy, laminated busbars boost energy conversion and distribution system efficiency. Laminated busbars improve energy conversion efficiency, reduce energy losses, and increase renewable energy installation reliability.
Thus, laminated busbars are crucial to a sustainable energy future. International Renewable Energy Agency (IRENA) predicts a record 107 GW growth in global renewable capacity additions to over 440 GW in 2023. All main global markets are expanding dynamically. As renewable energy installations rise worldwide, laminated busbar producers should see more demand.
Regional Insights
Most of the laminated busbar market was in Asia-Pacific and is expected to grow rapidly. Related to urbanization, industrialization, and population increase. Thus, reliable power is in high demand. The robust economies of China, India, Malaysia, Singapore, South Korea, and Thailand-key laminating busbar manufacturers-have contributed to this. Due to their huge commercial and residential spaces and considerable government T&D spending on power transmission lines, including smart grid investments, these countries are important lamination busbar customers. Asia-Pacific is expected to lead the Laminated Busbar market because of rising T&D spending, real estate, and construction activity, population, and energy transmission line spending.
Additionally, many countries invest in renewable energy and transmission and distribution infrastructure to fulfill these demands. China had the largest laminated busbar market share, while India grew the fastest in Asia-Pacific. The IEA predicts that China, the world's most populous nation, will install 36% of worldwide hydroelectricity-producing capacity and 40% of global wind energy capacity between 2015 and 2021. Over one-third of the global coal plant pipeline is in China, with 259,000 MW under development. The Changji-to-Guquan project in China and the 23 interstate transmission system projects in India will boost market growth throughout the projection period.
Europe's laminated busbar market is the second-largest due to rising vehicle manufacturing in Mexico and a shift of EU manufacturers, which will likely increase laminated busbar use in Mexico's auto sector. According to laminated busbar market research, Germany had the largest market share, and the UK was the fastest-growing in Europe. Germany and Denmark spend considerably on wind and solar power. Laminated busbars are essential for renewable energy projects to optimize power distribution and grid integration. EWEA predicts 19 GW (16 GW in the EU-27) of additional wind capacity in 2022.
Furthermore, Europe is a leader in EV manufacture and adoption. Laminated busbars help automakers develop efficiently, space-saving EV power distribution systems. As Europe moves toward cleaner, more efficient energy systems, laminated busbar demand is expected to remain strong, offering producers opportunities and supporting sustainability goals.
Key Highlights

The
global laminated busbar market size
was valued at
USD 680 billion in 2022
and is projected to reach
USD 1158 billion by 2031, registering a
CAGR of 6.1%
during the forecast period (2023-2031).
Epoxy powder coating, polyimide film, polyester resin, PVF film, heat-resistant fiber, and other types of insulation are available. The majority of the market is dominated by epoxy powder coating.
The market is divided into copper and aluminum conductor segments. Copper provides the most to the market.
End-users can subdivide the segment into utilities, commercial, industrial, and residential. The market's primary end-users are utilities.
Depending on the region, the market is analyzed in North America, Asia-Pacific, Europe, and LAMEA. Asia-Pacific dominates the market.

Competitive Landscape
The key players in the global Laminated busbar market are Mersen, Rogers, Zhuzhou Crrc Times Electric, OEM Automatic, Electronic Systems Packaging, Suzhou West Deane Machinery, Shennan Circuits, Shenzhen Woer New Energy, Jans Copper, Storm Power Conductors, Ryoden Kasei, Idealac, Amphenol, and Methode Electronics Inc.
Market News

In July 2023, Mersen launched graphite production in the United States.
In May 2023, Rogers will enhance power substrate capacity in China to accommodate rising EV and renewable energy demand.

Global Laminated Busbar Market: Segmentation
By Insulation

Epoxy Powder Coating
Polyimide Film
Polyester Resin
PVF Film
Heat Resistant Fiber
Others

By Conductor

Copper
Aluminum

By End-User

Automotive
Telecom
Aerospace and Defense
Industrial
Renewable Energy
Others

By Region

North America
Asia-Pacific
Europe
The Middle East and Africa
Latin America

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