Flexible Busbar Market

Flexible Busbar Market

  • ICT-SE-5233
  • 4.2 Rating
  • 173 Pages
  • 27-08-2022
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Raksha

Author:

Raksha Sharma

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Shruti Bhat

Flexible Busbar Market Outlook

The global flexible busbar market size was valued at USD 254.5 Million in 2021 and is projected to reach USD 520.2 Million by 2030, expanding at a CAGR of 8.4% during the forecast period, 2022-2030. A busbar is a metallic strip or bar that acts as a medium to distribute power in a system and is used in local high current power distribution.

It is usually placed inside switchgear, panel boards, and busway enclosures. It is also used to link low and medium voltage equipment in battery banks and high-voltage equipment in electrical switchyards. Aluminum, copper, bronze, or other efficient alloys that are capable of offering high conductivity and low energy loss during transmission are used in the production of flexible busbars.

Flexible Busbar Market Market Outlook

A flexible busbar consists of pure electrolytic copper laminates within a protective PVC jacket. The flexible busbar may be easily curved, twisted, and bent to match a variety of panel layouts. When compared to standard round cable, a flexible busbar offers space-saving advantages, due to a tighter bend radius and the ability to replace multiple round conductors with a single piece of flexible busbar.

Flexible Busbar Market Dynamics

High-end features of flexible busbars

Flexible busbars are made by stacking numerous electrolytic copper foils and applying high currents under high pressure. This is a technique of metal diffusion in which the metal melts and creates homogeneous bonds, resulting in a small, almost zero, millivolt drop across the connector, lowering the temperature rise and enhancing its current carrying capability.

No filler metal is utilized to join two layers together in this technique. Furthermore, the overall dimensions of the flexible busbars are often smaller than those of an equivalent cable system, particularly when currents exceeding 1000 A are to be carried and numerous cables in parallel are required to achieve such capacity.

Other benefits can be obtained when changing directions where the radius of curvature of the cables is minor and sufficient to avoid damaging the insulating material. Busbars enable the change of directions with 90° angles, thus minimizing the spaces used in service areas.

These high-end features of flexible busbars offer reduced production costs by decreasing the assembly time and internal material handling costs. Flexible busbars allow for easy and fast installation, which saves money for the end customers. This increases the demand for flexible busbars, thus driving the market.

Increasing demand for flexible busbars for power generation and distribution

Flexible busbars are used extensively in switchgear and transformers in high-voltage power distribution. Electricity usage depends on various factors, such as temperature, humidity, location, and rainfall. The consumption of electricity increases during the summer, due to increased cooling needs.

Heating systems demand more energy to operate, due to their lower efficiency, whereas cooling systems are more susceptible to ambient conditions. Increased demand for energy in the residential, commercial, and industrial sectors drive the market.

The adoption of heating, ventilation, and air conditioning (HVAC) systems across numerous industry sectors is attributed to changing lifestyles and rising average global temperatures. This has increased the need for continuous and dependable power supply, thus driving sales of high-capacity busbars. Tremendous advances have been made in the power infrastructure sector.

New power generation plants are being built, while existing infrastructure is being repaired, which is boosting the demand for flexible busbars. Moreover, governments of many countries are taking steps to modernize the power infrastructure to increase energy production and access. Furthermore, severe heat waves in certain European countries increase the demand for cooling equipment, leading to increased demand for electricity consumption, thus propelling the flexible busbar market.

High cost of raw materials

Copper used to be a highly preferred conductor for flexible busbars, due to its high ductility, tensile strength, and thermal expansion properties. These properties made copper suitable for flexible busbars. However, the price of copper is quite volatile and is affected by consumer demand, among other political and economic factors.

On the other hand, aluminum conductors are becoming common in the flexible busbar industry in recent years, as it provides certain advantages in terms of price and weight than copper. Aluminium has less conductivity than copper, thus engineers often ignore aluminium as a efficient conductor for flexible busbars. Due to aluminium's weak conductivity, a significantly large size conductor is required to match the current carrying capacity.

This automatically adds up to the cost, in terms of installation, equal to that of copper. Both these raw materials are expensive. High initial investment requirements and costly production processes restrict small enterprises from entering the market. Existing businesses benefit from entry barriers, as they retain their market share and strength to make profits. These factors restrain the growth of the market.

Increasing demand for electric cars

Rapid electrification of cars has occurred in recent years. Flexible busbars are used in electric vehicle systems for efficient power distribution. They take up less space and are effective in electric vehicle systems. Both hybrid and electric vehicles rely on power inverters, high-capacity batteries, powerful electric motor drives, and efficient power delivery from the charging source to the battery and between the vehicles.

The issues of successfully integrating busbars in tight-spaced E-powertrain or Battery Management Systems (BMS) have become increasingly relevant as power systems become fast and complicated. This is driving the demand for high configuration and production flexibility for both big and small-footprint busbar interconnections. They improve the delivery of electricity by reducing energy loss.

They are utilized in accordance with the various configurations and needs of passenger automobiles and commercial vehicles. Increasing electrification of vehicles and the growing demand for electric vehicles are expected to drive the market in the future years. Furthermore, rising income levels and living standards are expected to increase the demand for vehicles and drive the market.

Scope of Flexible Busbar Market Report

The report on the global Flexible Busbar Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Flexible Busbar Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast

Base Year

2021

Historic Data

2015-2020

Forecast Period

2022–2030

Segmentation

Type (Low Power (Below 125 A), Medium Power (125 A to 800 A)), and High Power (Above 800 A), Application (Residential, Commercial, and Industrial)

Regional Scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered

Cembre S.p.A., Interplex Holdings Pte. Ltd., Methode Electronics, molex (KOCH), Rittal GmbH & Co. KG, Salzer Electronics Limited, Schneider Electric, TE Connectivity, TORSION INDUSTRIES, Zhejiang RHI ELectric Co., Ltd.

Flexible Busbar Market Segment Insights

The global Flexible Busbar Market is segmented on the basis of types, application, and regions.

Type Segment Analysis

In terms of Type, Flexible Busbar Market is segmented into low power (below 125 A), medium power (125 A to 800 A), and high power (above 800 A). The Medium Power (125 A to 800 A) segment is expected to dominate the market in 2021.

Medium-power flexible insulated busbars are formed with multiple layers of thin electrolytic copper, provided with black insulation according to the specifications required. These busbars have applications in panel boards, UPS, power interconnection, transformers, generators, and others.

Flexible Busbar Market Type

Application Segment Analysis

On the basis of application, the Flexible Busbar market is segmented into residential, commercial, and industrial. The commercial segment is expected to hold a substantial share of the market during the forecast. A flexible busbar is corrosion-resistant and durable, which makes it an ideal option for commercial structures.

Flexible Busbar Market Application

Regional Analysis

Based on regions, the Flexible Busbar Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in the Asia Pacific is growing at a rapid pace during the forecast period. The flexible busbar market in the Asia Pacific is driven by a rising emphasis on energy efficiency and increasing energy consumption as a result of suburbanization and industrial expansion in the region.

Flexible Busbar Market Region

Key Benefits for Industry Participants & Stakeholders

  • In-depth Analysis of the global Flexible Busbar Market
  • Historical, Current, and Projected Market Size in terms of Value and Volume
  • Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
  • Industry Drivers, Restraints, and Opportunities Covered in the Study
  • Recent Industry Trends and Developments
  • Competitive Landscape & Strategies of Key Players
  • Neutral Perspective on Global Flexible Busbar Market  

Segments

Type

  • Low Power (Below 125 A)
  • Medium Power (125 A to 800 A)
  • High Power (Above 800 A)

Application

  • Residential
  • Commercial
  • Industrial

Regions

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Key Market Players Profiled in the Report

  • Cembre S.p.A.
  • Interplex Holdings Pte. Ltd.
  • Methode Electronics
  • molex (KOCH)
  • Rittal GmbH & Co. KG
  • Salzer Electronics Limited
  • Schneider Electric
  • TE Connectivity
  • TORSION INDUSTRIES
  • Zhejiang RHI ELectric Co., Ltd.

Competitive Landscape

Top players in the market includes Cembre S.p.A., Interplex Holdings Pte. Ltd., Methode Electronics, molex (KOCH), Rittal GmbH & Co. KG, Salzer Electronics Limited, Schneider Electric, TE Connectivity, TORSION INDUSTRIES, Zhejiang RHI ELectric Co., Ltd.

These companies are considered key manufacturers of Flexible Busbar based on their revenue, product offerings, regional presence, and supply chain management system. The players are adopting key strategies such as acquisition, collaborations, and geographical expansion where potential opportunity for Flexible Busbar Market.

Flexible Busbar Market Key Players

Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Flexible Busbar Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Flexible Busbar Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Flexible Busbar Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Flexible Busbar Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Flexible Busbar Market Size & Forecast, 2015-2030
      4.5.1 Flexible Busbar Market Size and Y-o-Y Growth
      4.5.2 Flexible Busbar Market Absolute $ Opportunity
Chapter 5 Global Flexible Busbar Market Analysis and Forecast By Type
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Type
      5.1.2 Basis Point Share (BPS) Analysis By Type
      5.1.3 Absolute $ Opportunity Assessment By Type
   5.2 Flexible Busbar Market Size Forecast By Type
      5.2.1 Low Power (Below 125 A)
      5.2.2 Medium Power (125 A to 800 A)
      5.2.3 High power (above 800 A)
   5.3 Market Attractiveness Analysis By Type
Chapter 6 Global Flexible Busbar Market Analysis and Forecast By Application
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By Application
      6.1.2 Basis Point Share (BPS) Analysis By Application
      6.1.3 Absolute $ Opportunity Assessment By Application
   6.2 Flexible Busbar Market Size Forecast By Application
      6.2.1 Residential
      6.2.2 Commercial
      6.2.3 Industrial
   6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Flexible Busbar Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Flexible Busbar Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
   8.1 Introduction
   8.2 Current & Future Impact Analysis
   8.3 Economic Impact Analysis
   8.4 Government Policies
   8.5 Investment Scenario

Chapter 9 North America Flexible Busbar Analysis and Forecast
   9.1 Introduction
   9.2 North America Flexible Busbar Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Flexible Busbar Market Size Forecast By Type
      9.6.1 Low Power (Below 125 A)
      9.6.2 Medium Power (125 A to 800 A)
      9.6.3 High power (above 800 A)
   9.7 Basis Point Share (BPS) Analysis By Type
   9.8 Absolute $ Opportunity Assessment By Type
   9.9 Market Attractiveness Analysis By Type
   9.10 North America Flexible Busbar Market Size Forecast By Application
      9.10.1 Residential
      9.10.2 Commercial
      9.10.3 Industrial
   9.11 Basis Point Share (BPS) Analysis By Application
   9.12 Absolute $ Opportunity Assessment By Application
   9.13 Market Attractiveness Analysis By Application
Chapter 10 Europe Flexible Busbar Analysis and Forecast
   10.1 Introduction
   10.2 Europe Flexible Busbar Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Flexible Busbar Market Size Forecast By Type
      10.6.1 Low Power (Below 125 A)
      10.6.2 Medium Power (125 A to 800 A)
      10.6.3 High power (above 800 A)
   10.7 Basis Point Share (BPS) Analysis By Type
   10.8 Absolute $ Opportunity Assessment By Type
   10.9 Market Attractiveness Analysis By Type
   10.10 Europe Flexible Busbar Market Size Forecast By Application
      10.10.1 Residential
      10.10.2 Commercial
      10.10.3 Industrial
   10.11 Basis Point Share (BPS) Analysis By Application
   10.12 Absolute $ Opportunity Assessment By Application
   10.13 Market Attractiveness Analysis By Application
Chapter 11 Asia Pacific Flexible Busbar Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Flexible Busbar Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Flexible Busbar Market Size Forecast By Type
      11.6.1 Low Power (Below 125 A)
      11.6.2 Medium Power (125 A to 800 A)
      11.6.3 High power (above 800 A)
   11.7 Basis Point Share (BPS) Analysis By Type
   11.8 Absolute $ Opportunity Assessment By Type
   11.9 Market Attractiveness Analysis By Type
   11.10 Asia Pacific Flexible Busbar Market Size Forecast By Application
      11.10.1 Residential
      11.10.2 Commercial
      11.10.3 Industrial
   11.11 Basis Point Share (BPS) Analysis By Application
   11.12 Absolute $ Opportunity Assessment By Application
   11.13 Market Attractiveness Analysis By Application
Chapter 12 Latin America Flexible Busbar Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Flexible Busbar Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Flexible Busbar Market Size Forecast By Type
      12.6.1 Low Power (Below 125 A)
      12.6.2 Medium Power (125 A to 800 A)
      12.6.3 High power (above 800 A)
   12.7 Basis Point Share (BPS) Analysis By Type
   12.8 Absolute $ Opportunity Assessment By Type
   12.9 Market Attractiveness Analysis By Type
   12.10 Latin America Flexible Busbar Market Size Forecast By Application
      12.10.1 Residential
      12.10.2 Commercial
      12.10.3 Industrial
   12.11 Basis Point Share (BPS) Analysis By Application
   12.12 Absolute $ Opportunity Assessment By Application
   12.13 Market Attractiveness Analysis By Application
Chapter 13 Middle East & Africa (MEA) Flexible Busbar Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Flexible Busbar Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Flexible Busbar Market Size Forecast By Type
      13.6.1 Low Power (Below 125 A)
      13.6.2 Medium Power (125 A to 800 A)
      13.6.3 High power (above 800 A)
   13.7 Basis Point Share (BPS) Analysis By Type
   13.8 Absolute $ Opportunity Assessment By Type
   13.9 Market Attractiveness Analysis By Type
   13.10 Middle East & Africa (MEA) Flexible Busbar Market Size Forecast By Application
      13.10.1 Residential
      13.10.2 Commercial
      13.10.3 Industrial
   13.11 Basis Point Share (BPS) Analysis By Application
   13.12 Absolute $ Opportunity Assessment By Application
   13.13 Market Attractiveness Analysis By Application
Chapter 14 Competition Landscape
   14.1 Flexible Busbar Market: Competitive Dashboard
   14.2 Global Flexible Busbar Market: Market Share Analysis, 2021
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
      14.3.1 Cembre S.p.A.
      14.3.2 Interplex Holdings Pte. Ltd.
      14.3.3 Methode Electronics
      14.3.4 molex (KOCH)
      14.3.5 Rittal GmbH & Co. KG
      14.3.6 Salzer Electronics Limited
      14.3.7 Schneider Electric
      14.3.8 TE Connectivity
      14.3.9 TORSION INDUSTRIES
      14.3.10 Zhejiang RHI ELectric Co., Ltd .
 

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FAQ Section

Some frequently asked questions about this report!

The base year considered for the global Flexible Busbar Market report is 2021. The complete analysis period is 2015 to 2030, wherein, 2015 to 2020 are the historic years, and the forecast is provided from 2022 to 2030.

In addition to market size (in US$ Million), company market share (in % for the base year 2021) is provided.

The market is expected to witness a significant decrease in growth between 2019 and 2020 owing to the COVID 19 pandemic in the Flexible Busbar Market.

Major Manufacturers are Cembre S.p.A., Interplex Holdings Pte. Ltd., Methode Electronics, molex (KOCH), Rittal GmbH & Co. KG, Salzer Electronics Limited, Schneider Electric, TE Connectivity, TORSION INDUSTRIES, Zhejiang RHI Electric Co., Ltd.

Factors such as GDP, production and supply, urbanization, and inflation income are analyzed in the final report.

The major types of Flexible Busbar are low power (below 125 A), medium power (125 A to 800 A), and high power (above 800 A) flexible busbars.

According to the Growth Market Report, the global Flexible Busbar Market is likely to register a CAGR of 8.4% during the forecast period 2022-2030, with an anticipated valuation of USD 520.2 million by the end of 2030.

High-end features of flexible busbars, and increasing demand for flexible busbars for power generation and distribution are expected to drive the market growth during the forecast period.

Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.

Additional company profiles can be provided on request For a discussion related to above findings, click Speak to Analyst