Laminated busbars are a critical component of any electrical utility infrastructure. These busbars are current-carrying conductors coated or laminated with insulation mediums such as epoxy powder coating, polyester film, among others which help eliminate interference and reduce losses, resulting in increased system efficiency.
The laminated busbar market in the US is a thriving sector within the global market that is expected to grow at a significant growth rate due to the growing need to replace and modernize current and aging grids, as well as the increasing complexity of smart grids due to the growing renewable energy generation. The United States Department of Energy (DOE) has been a significant proponent of smart grid investments, sponsoring research, development, and demonstration initiatives. The Grid Resilience Innovative Partnership (GRIP) Program, which commenced in 2022, provides USD 10.5 billion in funding to help the upgrade and growth of US electric grids using smart grid technologies. Smart grid investments are predicted to generate considerable economic benefits, such as job creation, improved energy efficiency, and lower greenhouse gas emissions. Investments in infrastructure and power-generating industries are projected to boost the US laminated busbar market further.
The global laminated busbar market is projected to grow from an estimated USD 863 million in 2023 to reach USD 1,296 million by 2030, at a CAGR of 6.0% during the forecast period.
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According to the US Department of Energy’s Grid Modernization and Smart Grid publication, North America’s transmission and distribution infrastructure is aging and needs modernization. Utility firms and other stakeholders are investing in replacing outdated electrical equipment and upgrading transmission and distribution networks with cutting-edge technology. In the next 20 years, utility firms in the US and Canada are scheduled to invest over USD 880 billion and USD 100 billion, respectively, in power networks. This will entail investments in smart grids, asset monitoring, and smart grid analytics. Investments in smart technology are propelling the growth of the laminated busbar market in the US. The US laminated busbar market is expanding rapidly, driven by advancements in power distribution infrastructure and rising electricity demand.
Amphenol Corporation, Methode Electronics, Inc., Rogers Corporation, and Electronic Systems Packaging LLC are some of the leading companies operating in the US laminated busbar market. Amphenol Corporation is one of the leading manufacturers of interconnect products globally. The company designs, manufactures, and markets electrical, electronic, and fiber-optic connectors, interconnect systems, antennas, sensors, and sensor-based products. The company provides laminated busbars under the interconnect and sensor systems segment, which was the most revenue-generating segment in terms of net sales in 2022. The company has manufacturing facilities in 30 countries, and its products are sold in about 70 countries worldwide. Amphenol has historically focused on innovation and technology to stay competitive.
Methode Electronics, Inc. is a global manufacturer of components and subsystems. The company produces electrical equipment, radio remote controls, electronics, and wireless devices. It operates in four segments: automotive, industrial, interface, and medical. Laminated busbars are part of the industrial sector. Apart from the US, the company has manufacturing, design, and testing facilities in China, Egypt, Germany, India, Italy, Lebanon, Malta, Mexico, Singapore, Switzerland, and the UK. The company’s product offering for laminated busbars includes single-conductor, multi-conductor, powder-coated, and flexible laminated busbars. Methode Electronics’ diverse product portfolio enables it to meet a wide range of needs in the laminated busbar industry, including distinct market segments and applications. Rogers Corporation is another one of the world’s leading providers of power electronics, advanced foams (cushioning and protective sealing), and high-frequency printed circuit materials. The company offers laminated busbars under advanced electronics solutions. This division provides laminated busbars for power inverter, high-power interconnect applications, and micro-channel coolers. In August 2021, the company announced an expansion of its production capacity in Eschenbach, Germany, to grow its Advanced Electrical Solutions business.
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The US market’s expansion is aided by programs like the European Commission’s Green Deal, which has set aside significant funds to assist climate action and clean energy projects. Demand for laminated busbars is predicted to rise as the need for efficient and dependable power distribution systems grows, owing to investments in renewables and grid modernization, supporting the growth of the US laminated busbar market.
