GITNUX MARKETDATA REPORT 2024

Laminated Busbar Industry Statistics

The Laminated Busbar industry is expected to show steady growth in the coming years, with increasing demand for energy-efficient and reliable power distribution solutions.

Highlights: Laminated Busbar Industry Statistics

  • The market is projected to reach $1.59 billion by 2028.
  • It will grow at a CAGR of 3.3% during 2021-2028.
  • North America accounted for 37.0% of the total market share in 2020.
  • The European laminated busbars market is expected to grow at a CAGR of 4.2% during 2021-2026.
  • The Asia Pacific region is expected to exhibit the highest CAGR of 4.4% during the forecast period.
  • In 2021, the telecommunications sector held 23% of the global laminated busbar market share.
  • Major players in the global laminated busbar market include Amphenol Corporation, Idealac, Methode Electronics, Mersen and Rogers Corporation.
  • Power electronics application is expected to grow at the highest CAGR of 6.5% during the forecast period.
  • The copper type segment occupied the largest market share of over 52% in 2021.
  • Epoxy powder coating was the most used insulation material, accounting for over 52% of the total market in 2020.
  • The market size for laminated busbar in China was $260 million in 2020.
  • The alternative energy application segment had a market share of 24% in 2019.
  • The data center application is projected to grow at a rate of 4% between 2021 and 2026.
  • In 2020, Siemens held the largest market share of 11.35% in the global laminated busbar market.
  • The energy & power industry was the dominant segment in the laminated busbar market in 2021, with a market share of over 28%.
  • In 2019, the global laminated busbar market was dominated by the Asia Pacific region, with a market share of 35%.
  • The automotive segment is anticipated to grow at a CAGR of 4.5% from 2021 to 2026.
  • Copper laminated busbars are anticipated to have the highest CAGR of 5.2% over the forecast period.

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The Latest Laminated Busbar Industry Statistics Explained

The market is projected to reach $1.59 billion by 2028.

The statistic indicates a projection that the market under consideration is anticipated to achieve a total value of $1.59 billion by the year 2028. This suggests a forecasted growth and expansion of the market over the specified period. Such projections are typically based on various factors such as historical trends, market analysis, economic conditions, consumer behavior, and industry forecasts. It signifies the potential opportunity and market size that businesses operating in that particular market segment can aim to capture by the year 2028, providing strategic insights for decision-making and planning purposes.

It will grow at a CAGR of 3.3% during 2021-2028.

This statistic indicates that the particular metric being measured is projected to increase at a Compound Annual Growth Rate (CAGR) of 3.3% over the period spanning 2021 to 2028. The CAGR is a smoothed annual growth rate that assumes steady growth over the specified time frame, providing a simplified way to understand the average annual growth rate. In this case, the projection suggests that the metric will experience an average annual growth of 3.3% from 2021 to 2028, representing a consistent and gradual increase over the specified period.

North America accounted for 37.0% of the total market share in 2020.

The statistic stating that North America accounted for 37.0% of the total market share in 2020 indicates that North America represented over a third of the overall market activity for that year. This metric suggests that the economic impact and influence of North American markets were substantial, with a significant portion of global economic transactions and trade activities concentrated in this region. Understanding the market share distribution can provide insights into the economic power and competitiveness of North American industries and businesses relative to other regions, helping to inform strategic decisions and market analyses for companies operating in or targeting this geographic area.

The European laminated busbars market is expected to grow at a CAGR of 4.2% during 2021-2026.

This statistic indicates that the European laminated busbars market is projected to experience a Compound Annual Growth Rate (CAGR) of 4.2% between the years 2021 and 2026. CAGR is a measure used to understand the annualized growth rate over a specified period of time, smoothing out the fluctuations that may occur in year-to-year growth rates. The forecast underscores that the market for laminated busbars in Europe is expected to expand steadily over the next five years, with a consistent growth rate of 4.2% annually, potentially driven by factors such as increasing adoption of renewable energy sources, technological advancements in power distribution systems, and infrastructure development projects necessitating efficient power transmission solutions.

The Asia Pacific region is expected to exhibit the highest CAGR of 4.4% during the forecast period.

The statistic stating that the Asia Pacific region is expected to exhibit the highest Compound Annual Growth Rate (CAGR) of 4.4% during the forecast period indicates that this region is projected to experience the most significant average annual growth rate compared to other regions. This suggests that the economic, demographic, or industry trends driving growth in the Asia Pacific region are particularly strong and are expected to continue steadily over the specified time frame. Investors, businesses, and policymakers should take note of this growth potential and consider opportunities for investment, expansion, or collaboration in the Asia Pacific region to capitalize on the predicted growth momentum.

In 2021, the telecommunications sector held 23% of the global laminated busbar market share.

The statistic implies that in 2021, the telecommunications sector accounted for a significant portion of the global laminated busbar market, specifically holding a 23% share. This suggests that telecommunications companies were major players in the market for laminated busbars, which are components used in electrical power distribution systems. The high market share indicates that telecommunications companies were actively involved in the adoption and implementation of laminated busbars in their operations, reflecting a strong demand within the industry for this technology. This statistic highlights the telecommunications sector’s influence and importance in the laminated busbar market in 2021.

Major players in the global laminated busbar market include Amphenol Corporation, Idealac, Methode Electronics, Mersen and Rogers Corporation.

The statistic highlights some of the key players in the global laminated busbar market, a sector primarily involved in the manufacturing and supply of laminated busbars used in electrical systems. Amphenol Corporation, Idealac, Methode Electronics, Mersen, and Rogers Corporation are identified as major players in this market, suggesting they have a significant market share, strong presence, and likely influence on industry trends and developments. These companies are likely considered leaders in terms of product quality, innovation, and market reach within the laminated busbar industry. Their inclusion in this statistic indicates their importance in shaping the competitive landscape and driving market growth within this niche industry.

Power electronics application is expected to grow at the highest CAGR of 6.5% during the forecast period.

This statistic indicates that the field of power electronics is projected to experience a significant growth rate in terms of compound annual growth rate (CAGR) over the specified forecast period. A CAGR of 6.5% suggests a consistent and relatively rapid increase in the adoption and use of power electronics applications. This growth rate implies that there is a growing demand for power electronic devices and systems across various industries and sectors, potentially driven by factors such as technological advancements, increasing efficiency requirements, and a shift towards renewable energy sources. The strong CAGR forecast for power electronics applications signifies a promising market outlook and highlights the importance and potential impact of this technology in the near future.

The copper type segment occupied the largest market share of over 52% in 2021.

The statistic that the copper type segment occupied the largest market share of over 52% in 2021 indicates that out of the total market for the relevant products, products categorized under the copper type segment held a majority share. This suggests that consumers or industries showed a preference for copper-based products over other types in 2021. This information may be significant for businesses operating within the industry, as it highlights the dominance of copper products and underscores the importance of understanding this segment’s trends and dynamics to remain competitive and capitalize on market demand.

Epoxy powder coating was the most used insulation material, accounting for over 52% of the total market in 2020.

The statistic states that epoxy powder coating was the predominant choice for insulation material in 2020, making up more than half of the total market share at 52%. This suggests that epoxy powder coating was the most popular and widely utilized option among consumers and industries for insulating purposes during that year. The high usage rate indicates that epoxy powder coating is trusted for its effectiveness in providing insulation properties, durability, and potentially cost-efficiency compared to other insulation materials. The statistic highlights the significant presence and preference of epoxy powder coating within the insulation market in 2020.

The market size for laminated busbar in China was $260 million in 2020.

The statistic “The market size for laminated busbar in China was $260 million in 2020” represents the total value of sales in China’s market specifically for laminated busbars, a key component used in electrical power distribution systems, in the year 2020. This indicates the financial magnitude of the market activity within the laminated busbar industry in China for that particular year. Market size reflects the demand and consumption of these products within the country, serving as an important indicator for industry players, investors, and policymakers to understand the economic significance and growth potential of the laminated busbar market in China.

The alternative energy application segment had a market share of 24% in 2019.

The statistic “The alternative energy application segment had a market share of 24% in 2019” indicates that within the energy market in 2019, the portion attributed to alternative energy applications accounted for 24% of the total market. This suggests that alternative energy sources, such as solar, wind, hydropower, and bioenergy, played a significant role in the overall energy sector during that time period. A market share of 24% highlights the growing interest and investment in alternative energy sources as the world shifts towards cleaner and more sustainable forms of energy to combat climate change and reduce reliance on fossil fuels.

The data center application is projected to grow at a rate of 4% between 2021 and 2026.

The statistic stating that the data center application is projected to grow at a rate of 4% between 2021 and 2026 indicates an expected positive trend in the utilization and adoption of data center services over the specified period. This growth rate suggests that there is an increasing demand for data center services, with the industry predicted to expand by an average of 4% annually. Factors driving this growth could include the ongoing digitization of businesses, increased reliance on cloud computing, expanding internet connectivity, and the growing volume of data generated and stored globally. The projection serves as a valuable indicator for businesses, policymakers, and investors to anticipate the trajectory of the data center industry and make informed decisions to capitalize on emerging opportunities within this sector.

In 2020, Siemens held the largest market share of 11.35% in the global laminated busbar market.

In 2020, Siemens secured the largest market share of 11.35% in the global laminated busbar market, indicating that Siemens accounted for over a tenth of all sales within this market segment. This statistic suggests that Siemens was the leader among competitors in providing laminated busbar products, which are essential components used in electrical power distribution systems. The significant market share held by Siemens highlights its strong presence and competitiveness in the global laminated busbar market, indicating its extensive customer base and potentially superior product offerings compared to other companies in the industry.

The energy & power industry was the dominant segment in the laminated busbar market in 2021, with a market share of over 28%.

The statistic indicates that the energy & power industry held a significant position in the laminated busbar market in 2021, accounting for over 28% of the market share. This suggests that a large portion of the demand for laminated busbars, which are used for efficient power distribution in various applications, came from companies and projects within the energy and power sector. The dominance of this industry segment signifies that it is a key driver of market growth and innovation in the laminated busbar industry, and highlights the importance of reliable and efficient power distribution solutions within the energy and power sector.

In 2019, the global laminated busbar market was dominated by the Asia Pacific region, with a market share of 35%.

The statistic indicates that in 2019, the Asia Pacific region held the largest market share of 35% in the global laminated busbar market. This suggests that the Asia Pacific region was the leading contributor to the overall market in terms of sales, revenue, or other relevant metrics in that year. The dominance of Asia Pacific in the laminated busbar market could be attributed to various factors such as increasing industrialization, infrastructural development, technological advancements, and growing demand for energy-efficient solutions in the region. This statistic underscores the significance of the Asia Pacific market in the laminated busbar industry and highlights the region’s importance as a major player in the global market landscape.

The automotive segment is anticipated to grow at a CAGR of 4.5% from 2021 to 2026.

The statement indicates that the automotive industry is forecasted to experience a Compound Annual Growth Rate (CAGR) of 4.5% from the year 2021 to 2026. This implies that the industry is expected to expand steadily at an average annual rate of 4.5% over this five-year period. The CAGR provides a smoother representation of growth compared to simple annual growth rates, as it factors in the compounding effect of growth over time. This projected growth rate suggests a positive outlook for the automotive sector, indicating that there is potential for development and expansion within the industry over the specified period.

Copper laminated busbars are anticipated to have the highest CAGR of 5.2% over the forecast period.

In this context, the statistic indicates that the expected compound annual growth rate (CAGR) for copper laminated busbars is projected to be 5.2% over the forecast period. This means that the demand for copper laminated busbars, a type of electrical conductor used for power distribution, is anticipated to experience consistent and relatively strong growth on an annual basis during the specified forecast period. This statistic suggests that copper laminated busbars are expected to outperform other similar products in terms of growth rate, making them a potentially attractive investment or market opportunity for stakeholders in the electrical distribution industry.

Conclusion

In conclusion, the statistics presented for the laminated busbar industry highlight its growing importance and widespread adoption in various sectors. With increasing demand for energy efficiency and reliable power distribution solutions, laminated busbars are poised to play a key role in shaping the future of electrical systems. As manufacturers continue to innovate and improve the design and performance of laminated busbars, we can expect to see further growth and development in this industry in the future.

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How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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