The global laminated busbar market was valued at USD 821.5 million in 2023 and is projected to reach USD 1.25 billion by 2030, reflecting a CAGR of 5.3% from 2024 to 2030. A major driver of market growth is the rapid transition of the automotive industry towards electric mobility, fueled by stringent emissions regulations and increasing consumer demand for eco-friendly and sustainable vehicles.

In electric vehicles (EVs), laminated busbars are crucial for efficiently managing and distributing electrical power among batteries, power electronics, and other components. Their ability to reduce inductance and enhance thermal management makes them particularly suitable for high-power applications, which significantly boosts their demand in the growing EV segment.

The global emphasis on renewable energy adoption, including solar and wind power, has further strengthened the market. Laminated busbars are vital in power conversion and distribution systems within renewable energy installations. They ensure reliable and efficient electrical connections between inverters, transformers, and other components, enabling optimal performance and energy efficiency. As investments in renewable energy infrastructure increase, the demand for laminated busbars rises correspondingly.

Additionally, the advancement of power electronics technologies, such as inverters, converters, and rectifiers, across industries like industrial automation, aerospace, telecommunications, and data centers, is driving the adoption of laminated busbars. These components provide superior electrical performance, reduced parasitic inductance, and improved thermal management, all of which are essential for the efficient functioning of modern power electronic systems. With ongoing technological developments in power electronics, the requirement for high-performance laminated busbars is expected to continue growing steadily.

Key Market Trends & Insights:

• The North America laminated busbar market held a dominant position globally in 2023, capturing the highest revenue share in the industry. This leadership reflects the region’s strong adoption of laminated busbars across multiple sectors, driven by the rapid growth of electric vehicles, renewable energy infrastructure, and advanced power electronics applications.

• When examining the market by material, the copper segment led the industry, accounting for the largest revenue share of 71.6% in 2023. Copper’s superior electrical conductivity, thermal management properties, and durability make it the preferred choice for laminated busbars, particularly in high-power and high-efficiency applications.

• Looking at the market by end-use, the utilities segment dominated with a revenue share of 43.0% in 2023. This highlights the critical role of laminated busbars in power generation and distribution systems, where they are used to ensure reliable connections in substations, transformers, and renewable energy installations. The segment’s dominance is supported by increasing investments in infrastructure modernization, renewable energy projects, and the growing need for efficient energy management solutions across utility networks.

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Market Size & Forecast:

• 2023 Market Size: USD 821.5 Million

• 2030 Projected Market Size: USD 1.25 Billion

• CAGR (2024-2030): 5.3%

• North America: Largest market in 2023

Key Companies & Market Share Insights:

Some of the key players in the laminated busbar market include Schaeffler Technologies AG & Co. KG and OTICS Corp, both of which have established a strong presence in the industry through innovation and specialized solutions.

• Eaton Corporation PLC is a globally diversified power management company that offers energy-efficient solutions to manage electrical, hydraulic, and mechanical power safely, effectively, and sustainably. Eaton caters to a broad spectrum of industries, including utilities, industrial, commercial, residential, IT and data centers, automotive, and aerospace, providing products and solutions that optimize performance while enhancing safety and efficiency.

• Ryoden Kasei Co. Ltd, based in Japan, specializes in the manufacture and sale of plastic products, primarily for the automotive industry. Its product portfolio spans multiple categories, including interior and exterior plastic parts, functional components and systems, safety-related plastic parts, and decorative and aesthetic components, serving the evolving needs of automotive manufacturers worldwide.

• Molex is one of the emerging participants in the laminated busbar market, offering innovative connectivity and interconnection solutions. The company serves a wide array of industries, such as agricultural machinery, appliances, automotive, drug delivery solutions, electrical and power, home energy storage, in vitro diagnostics, industrial automation, Medtech, mobile devices, networking, power for data centers, servers and storage, telecommunications, wearables, and wireless infrastructure. Molex’s diverse portfolio and technological capabilities position it as a growing force in the market, meeting the increasing demand for high-performance laminated busbar solutions.

Key Players

• Eaton Corporation PLC

• Ryoden Kasei Co. Ltd

• Methode Electronics Inc

• Rogers Corporation

• Mersen SA

• Sun.King Power Electronics Group Ltd

• Zhuzhou CRRC Times Electric Co. Ltd

• Amphenol Corporation

• Shanghai Eagtop Electronic Technology Co. Ltd

• Molex LLC

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Conclusion:

The report concludes that the laminated busbar market is expected to grow steadily through the forecast period as demand increases across industries such as electric vehicles, renewable energy, utilities, and advanced power electronics. Laminated busbars are becoming essential components due to their ability to improve electrical performance, reduce inductance, manage heat effectively, and support reliable power distribution. Growth is supported by global shifts toward cleaner energy, wider adoption of electric mobility, and expanding industrial automation. Market expansion is further driven by continued investments in infrastructure and technology innovations, while competitive dynamics reflect the participation of key global players enhancing product offerings and market reach.