Laminated Busbar Market Size

Increasing electricity demand to boost market growth

The increasing demand for hybrid and electric vehicles will propel the market’s growth rate during the forecast period of 2022-2029. The market for laminated busbar is being driven by factors such as increasing electricity demand and rising demand for safe as well as secure electrical distribution systems. In addition to this, rising renewable energy integration will expand the laminated busbar industry.

Furthermore, increasing awareness about energy saving and efficiency act as major factors influencing the growth of the market for laminated busbar. Other significant factors that will cushion the market’s growth rate for laminated busbar is swift industrialization and technological advancement. Cost-efficient and operational benefits of laminated busbar will flourish the market’s growth rate.

Further, Government regulations tending with the impacts of carbon dioxide gas emission on the climate because of the inappropriate burning of fossil fuels demand a maintainable energy system. Low discharges from laminated busbar-based batteries utilized in various family applications would drive future market growth. 

Expanded utilization of batteries and utilization of force in various areas like broadcast communications, aviation, and transport are driving the development of the covered busbar market. Hence, increase in high power laminated busbar system for transportation and distribution of power is another factor driving the growth of the laminated busbar market revenue.

Additionally, rising focus on renewable energy, increasing demand for safe and secure electrical distribution systems, and cost-efficiency and operational benefits of laminated busbars are the key factors accelerating the growth of the market for laminated busbar. The rising demand for high-quality, consistent, and cost-effective power across industries coupled with uninterruptible power supply (UPS) systems, which support a wide range of power generation technologies, will drastically boost the demand for laminated busbar across the globe. 

A well-designed laminated bus bar provides mechanical improvement and electrical optimization within a UPS system. Laminated bus bars offer multiple benefits, including reducing part count, addressing component and personal safety issues, virtually eliminating assembly errors, and improving overall system cost. Hence, increasing benefits of the solution has enhanced the laminated busbar market CAGR across the globe in the recent years.

Moreover, Government regulations addressing the effects ofco2 gas emission on environment due to the inappropriate combustion of fossil fuels demands for a sustainable energy system. In solar, wind power, and fuel cells, the DC energy is fed directly into an insulated-gate bipolar transistor (IGBT) and capacitor circuit through low-inductance laminated bus bars, delivering safe and efficient power. 

The design of the laminated bus bar confers excellent packaging efficiency. Designing all electrical connection points in one clean bus bar for the IGBTs, Capacitors, and I/O and monitoring devices lead to enhanced system reliability, along with ensuring optimal electrical performance.

The Global Laminated Busbar Market Industry is projected to experience substantial growth over the next decade. With a market value of 0.82 USD Billion in 2024, it is expected to reach 1.64 USD Billion by 2035, reflecting a robust CAGR of 6.53% from 2025 to 2035. This growth trajectory is indicative of the increasing adoption of laminated busbars across various applications, including renewable energy, electric vehicles, and industrial automation. The market dynamics suggest a favorable environment for manufacturers and stakeholders, as the demand for efficient power distribution solutions continues to rise.

The trend towards industrial automation is significantly impacting the Global Laminated Busbar Market Industry. As industries adopt automated solutions to enhance productivity and efficiency, the need for reliable power distribution systems becomes paramount. Laminated busbars, with their compact design and high conductivity, are increasingly utilized in automated machinery and control systems. For example, their application in robotics and manufacturing equipment ensures efficient power delivery, which is essential for optimal performance. This growing reliance on automation is expected to drive the laminated busbar market, aligning with the projected growth trajectory.

The increasing global emphasis on renewable energy sources is driving the Global Laminated Busbar Market Industry. As countries transition towards sustainable energy solutions, the demand for efficient power distribution systems rises. Laminated busbars, known for their high conductivity and compact design, are becoming essential in solar and wind energy applications. For instance, the integration of laminated busbars in solar inverters enhances energy efficiency, thereby supporting the growth of the renewable sector. This trend is expected to contribute to the market's growth, with projections indicating a market value of 0.82 USD Billion in 2024 and a potential doubling to 1.64 USD Billion by 2035.

The heightened focus on energy efficiency across various sectors is a notable driver for the Global Laminated Busbar Market Industry. Organizations are increasingly seeking solutions that minimize energy losses and optimize power distribution. Laminated busbars, known for their low resistance and high thermal conductivity, offer a viable solution to these challenges. Their application in commercial and industrial settings leads to reduced energy consumption and operational costs. As energy efficiency regulations become more stringent, the demand for laminated busbars is likely to rise, further supporting market growth.

The rapid expansion of electric vehicle (EV) infrastructure is a key driver for the Global Laminated Busbar Market Industry. As governments worldwide invest in EV charging stations and related infrastructure, the demand for efficient power distribution solutions increases. Laminated busbars play a crucial role in EV charging systems, providing reliable and compact solutions for power management. For instance, the integration of laminated busbars in fast-charging stations enhances the efficiency of energy transfer, supporting the growing EV market. This trend is likely to bolster the laminated busbar market, contributing to its anticipated growth in the coming years.

Technological innovations in electrical systems are significantly influencing the Global Laminated Busbar Market Industry. The development of advanced materials and manufacturing techniques has led to enhanced performance characteristics of laminated busbars. These advancements facilitate better thermal management and electrical efficiency, making them suitable for high-power applications. For example, the use of improved insulation materials in laminated busbars allows for higher voltage ratings, which is crucial for modern industrial applications. As industries increasingly adopt these technologies, the market is poised for growth, with a projected CAGR of 6.53% from 2025 to 2035.

Major market players are spending a lot of money on R&D to increase their product lines, which will help the laminated busbar market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the laminated busbar industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the Laminated Busbar industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. The laminated busbar market major player such as Mersen (France), Rogers (Canada), Zhuzhou Crrc Times Electric (China), and others are working to expand the market demand by investing in research and development activities.

Amphenol is one of the world’s largest providers of high-technology interconnect, sensor and antenna solutions. Their products enable the electronics revolution across virtually every end market, including automotive, broadband communications, commercial aerospace, industrial, information technology and data communications, military, mobile devices and mobile networks. 

The company is founded in 1932 and is headquartered in Wallingford, Connecticut, USA. In December 2020, Amphenol Corporation, which is a global provider of high-technology interconnect, antenna and sensor solutions has signed an agreement to acquire MTS Systems, a leading global supplier of advance test system, motion stimulators and precision sensors.

Also, OEM - Automatic Ltd. markets and sells industrial automation components. The Company offers panel related products including busbar, cable trunking, switches, counters, current transformers, data recorders, enclosures, industrial connectors, displays, logic controllers, and monitor relays. In 2020, OEM Automatic Ltd. has agreed to acquire Zoe dale Ltd. through which OEM Automatic can increase its product portfolio with expanding the utilization of technical advice to deliver the best solutions for their application.