Laminated Busbar Market

Laminated Busbar Market

Market Synopsis:

Global Laminated Busbar market is valued USD 972.79 Million in 2022 and is projected to attain a value of USD 1574.04 Million by 2030 at a CAGR of 6.20% during the forecast period, 2022–2028. A Laminated Busbar is a flat metal strip used in electrical installations in which the metal is stamped so that it forms insulated parallel conductive plates. These strips are used in large devices for switching or distributing power in low-tension circuits, where the thickness of parallel busbars would be prohibitively expensive.

Rapidly Expanding Power Distribution Sector to Drive Growth of Laminated Busbar Market

Laminated Busbar can be used as power distribution system for high voltage direct current (HVDC) systems. HVDC is finding increased usage for transmitting bulk electrical energy over long distances or between isolated AC grids.

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The Laminated Busbar is used in low tension, high voltage circuits. The trend promoting the use of HVDC plays an important role in driving this market. The major factors that drive the growth of this market are rapid urbanization and industrialization in emerging countries such as China, India, Malaysia, Singapore, Brazil etc., increasing demand for electricity; rising investments in power transmission & distribution (T&D) infrastructure; high construction spending aimed at implementing smart grids across Europe; technological advancement in HVDC technology; rapidly electrifying rural areas with grid feeder system through decentralized generation activities; and propelling need for better systems integration along with the use of renewable energy sources like solar photovoltaic (PV), wind power, etc.

Market Segmentation:

Global Laminated Busbar market is by material (copper, aluminum), end-user (utilities, industrial, commercial, residential), insulation material (epoxy powder coating, polyester film, PVF film, polyester resin, and others), and Region.

By Material, Copper Laminated Busbar is Driving Growth of Laminated Busbar Market

In Laminated Busbar s, the high voltage busbar is made of a thin copper strip with insulation between each layer. Copper is majorly preferred by the end users as it doesn't take up much space and it can be laid out to optimize conductivity and structural strength. Busbars are set up in ways that allow them to provide multiple currents simultaneously -complementing the power sources- without creating dead zones where no power is supplied at all. Thus, they allow for uninterrupted energy flow even if one source fails.

In addition to this copper lamination reduces corona loss, presents better voltage regulation especially under severe weather conditions & acts as an effective conductor for HVDC systems. In addition, it also acts as a fire protection barrier against external factors such as lightning strikes& minimizes electrical noise from the surrounding environment.

By Insulation Material, Epoxy Powder Coating Lamination Busbar is Witnessing High Demand in Laminated Busbar Market

The major factor that is driving the market for epoxy powder coating Laminated Busbar is its capability to minimize voltage drop which results in higher energy efficiency. In addition to this, the product attributes such as corrosion resistance, easy cleanability, mud & dust free surface are also resulting in driving the market for this type of Laminated Busbar . The major factor that is driving the growth in the epoxy powder coating Laminated Busbar market is its capability to minimize voltage drop which results in higher energy efficiency.

Asia Pacific is the Largest Consumer of Laminated Busbar

Asia-Pacific is projected to continuing witnessing healthy growth and offer lucrative opportunity to the players of Laminated Busbar market during the review period. This is attributed by the strong economic performance of countries such as China, India, Malaysia, Singapore, South Korea and Thailand which have been leading manufacturers of lamination busbars over the past few years. In addition to this these countries are also major consumers of lamination busbar products on account of their large commercial & residential spaces wherein high T&D spending has been witnessed from governments on power transmission lines including a rise in investments aimed at implementing smart grids. Thus, Asia-Pacific is expected to lead the Laminated Busbar market on account of key factors like increasing T&D spending; growing real estate & construction activities; rising population; and increased spending on power transmission lines.

Key Players:

Some of the key leading players in the global Laminated Busbar market are Rogers (US), Mersen (France), Amphenol (US), Sun.King Power Electronics (China), and Methode (US).