Laminated Busbar Market Expands with Industrial Automation Adoption

 The global laminated busbar market size was estimated at USD 821.5 million in 2023 and is projected to reach USD 1.25 billion by 2030, growing at a CAGR of 5.3% from 2024 to 2030. The automotive sector is undergoing a rapid shift toward electric mobility, driven by stringent emissions regulations and increasing consumer preference for environmentally friendly vehicles.

Laminated busbars play a pivotal role in electric vehicles by effectively distributing electrical power among batteries, power electronics, and other system components. Their capacity to reduce inductance and enhance thermal performance makes them well-suited for high-power applications in EVs, fueling demand in this sector.

The global transition to renewable energy sources, such as solar and wind, has significantly boosted investments in renewable infrastructure. Laminated busbars are integral to power conversion and distribution systems in these installations, ensuring dependable and efficient connections between inverters, transformers, and other critical components. As renewable capacity expands, so too does the market for laminated busbars.

Advancements in power electronics—including inverters, converters, and rectifiers—have also heightened the demand for laminated busbars. These systems are widely utilized across sectors such as industrial automation, aerospace, telecommunications, and data centers. Laminated busbars offer advantages like lower parasitic inductance, superior electrical performance, and better thermal control, all of which are essential for efficient power electronic operations.

Moreover, laminated busbars provide numerous benefits over traditional wiring systems, including improved electrical characteristics, reduced inductive losses, and enhanced heat dissipation. These features contribute to optimized power distribution, increased energy efficiency, and higher operational safety. Their ability to reduce electrical noise and electromagnetic interference makes them ideal for sensitive environments such as medical equipment, telecom systems, and aerospace applications. Growing concerns regarding performance reliability and safety are significantly bolstering market demand.

The rise of industrial automation and robotics is further contributing to market expansion. Laminated busbars deliver stable and efficient power distribution in automated manufacturing environments, supporting seamless operations. Their compact form and high current-handling capabilities make them suitable for robotic systems, production lines, and industrial machinery. With industries embracing automation, the demand for laminated busbars is poised to grow steadily.

Order a free sample PDF of the Laminated Busbar Market Intelligence Study, published by Grand View Research.

 

Key Market Trends & Insights

  • North America led the laminated busbar market in 2023 with the highest revenue share.
  • The copper segment accounted for the largest share by material in 2023, representing 71.6% and is expected to maintain strong growth through 2030.
  • By end-use, the utilities segment held a dominant 43.0% market share in 2023 and is projected to grow at the fastest CAGR of 5.7% during the forecast period.

 

Market Size & Forecast

  • 2023 Market Size: USD 821.5 Million
  • 2030 Projected Market Size: USD 1.25 Billion
  • CAGR (2024–2030): 5.3%
  • Leading Region: North America

 

Key Laminated Busbar Company Insights

Major market participants include Schaeffler Technologies AG & Co. KG and OTICS Corp. Eaton Corporation PLC, a global leader in power management solutions, supports diverse industries ranging from IT and aerospace to utilities and automotive.

Ryoden Kasei Co. Ltd focuses on plastic component manufacturing for the automotive sector, offering both functional and decorative parts. Molex LLC, an emerging player, caters to a wide range of industries including industrial automation, home energy storage, medtech, and telecommunications.

Key Laminated Busbar Companies

  • Eaton Corporation PLC
  • Ryoden Kasei Co. Ltd
  • Methode Electronics Inc
  • Rogers Corporation
  • Mersen SA
  • King Power Electronics Group Ltd
  • Zhuzhou CRRC Times Electric Co. Ltd
  • Amphenol Corporation
  • Shanghai Eagtop Electronic Technology Co. Ltd
  • Molex LLC

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

Conclusion

The laminated busbar market is witnessing consistent growth, driven by the accelerating shift toward electric mobility, expansion of renewable energy infrastructure, and increasing adoption of advanced power electronics across industries. As businesses prioritize energy efficiency, operational safety, and system reliability, laminated busbars are emerging as critical components in next-generation power distribution systems. With strong support from automation, clean energy, and high-performance electronics sectors, the market is well-positioned for sustained expansion through 2030.

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