Research by Global Market Studies has reported a CAGR of 6.7% for the Laminated Busbar Market, expecting to expand to a value of USD 1574.04 million by 2028.
The laminated busbar market refers to the industry that produces and sells laminated busbars. Laminated busbars are power distribution components used in various electrical and power electronics applications. They consist of multiple layers of conductive materials (usually copper or aluminum) separated by insulating materials (such as epoxy or polyester).
Laminated busbars are essential in power electronics, renewable energy, data centers, electric vehicles, industrial machinery, aerospace, defense, and telecommunications for efficient power distribution, heat dissipation, and reduced electrical fault risks.
The increasing demand for power electronics in renewable energy, automotive, and industrial machinery is driving the laminated busbar market. These busbars offer efficient power distribution and thermal management, making them ideal for power electronic applications. The growing renewable energy sector demands reliable and efficient power distribution solutions, making laminated busbars suitable for renewable energy applications.
The adoption of electric vehicles and hybrid electric vehicles also drives the demand for laminated busbars in the automotive industry. Laminated busbars also offer space-saving benefits due to their miniaturization and compact systems. Governments and industries are emphasizing energy efficiency and reducing carbon footprints, driving market growth.
The growing demand for data centers to support cloud computing and digital services has led to the need for power distribution solutions like laminated busbars to efficiently manage power loads and reduce energy losses. Finally, the aerospace and defense sectors require lightweight and reliable power distribution solutions, making laminated busbars suitable for aircraft and military systems.
Laminated busbars offer various shapes, sizes, and configurations, allowing manufacturers to provide customized solutions for specific application requirements. They offer a range of material options, such as copper and aluminum conductors and insulation materials, for efficient heat dissipation. Laminated busbars also provide excellent thermal management, reducing the risk of overheating in high-power applications.
Some laminated busbars come with integrated power electronics components, providing a compact and functional power distribution solution. They handle high currents, offer improved electrical performance, and meet safety standards for reliable power distribution. Additionally, manufacturers may offer application-specific laminated busbars tailored to meet the unique requirements of industries like electric vehicles (EVs) or renewable energy systems.
Laminated busbars are more expensive than traditional solutions due to the manufacturing processes involved in creating multiple layers and insulating materials. This can limit adoption in cost-sensitive applications. Limited awareness among end-users and manufacturers may hinder their widespread adoption. Technical challenges, such as designing and manufacturing complex shapes, may affect widespread adoption.
Alternative technologies, like flexible printed circuit boards (PCBs) or direct copper bonding, may compete with laminated busbars in certain applications, posing market restraints. Longer lead times and supply chain issues may also impact timely deliveries.
North America: The North American region, particularly the United States and Canada, has a mature laminated busbar market due to its advanced manufacturing and automotive industries, as well as the increasing adoption of renewable energy sources.
Europe: Europe is another prominent market for laminated busbars, driven by the region’s focus on renewable energy and energy efficiency initiatives. Countries like Germany, the UK, France, and Italy have significant demand for laminated busbars in various applications.
Asia-Pacific: The APAC region is a key market for laminated busbars due to its rapid industrialization, expanding renewable energy sector, and growing automotive and electronics industries. Countries like China, India, Japan, and South Korea are major contributors to the regional market.
• In February 2021, 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 2021, BRAR announced the successful completion of factory cold tests of busbars and Aluminium Power Conducting Arms for SMS Group.
ABB Ltd, BRAR, Methode Electronics Inc., Rogers Corporation, Mersen SA, Sun.King Power Electronics Group Ltd, and Amphenol Corporation.
Frequently Asked Questions
1) What is the projected market value of the Laminated Busbar Market?
– The Laminated Busbar Market is expected to reach a value of USD 1574.04 million by 2028.
2) What is the estimated CAGR of the Laminated Busbar Market over the 2023 to 2028 forecast period?
– The Laminated Busbar Market is expected to grow at a CAGR of approximately 6.7% from 2023 to 2028.
3) Who are the key players in the Laminated Busbar Market?
– ABB Ltd, BRAR, Methode Electronics Inc., Rogers Corporation, Mersen SA, Sun.King Power Electronics Group Ltd, and Amphenol Corporation.
4) What are the drivers for the Laminated Busbar Market?
– The laminated busbar market is driven by increasing demand for power electronics in renewable energy, automotive, and industrial machinery. These efficient, compact systems offer space-saving benefits, energy efficiency, and lightweight solutions for cloud computing and military systems.
5) What are the restraints and challenges in the Laminated Busbar Market?
– Laminated busbars’ high cost, manufacturing processes, limited awareness, technical challenges, and competition from alternative technologies hinder widespread adoption.
6) What are the key applications and offerings of the Laminated Busbar Market?
– Laminated busbars are crucial for effective power distribution, heat dissipation, and decreased electrical fault hazards in power electronics, renewable energy, data centers, electric cars, industrial machinery, aerospace, defense, and telecommunications.
7) Which region is expected to drive the market for the forecast period?
– Asia Pacific has the highest value share in the global market and is expected to dominate shares in forecast period.
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