Flexible Busbar Market by Type (Low Power (Below 125 A), Medium Power (125 A to 800 A), and High Power (Above 800 A), Application (Residential, Commercial, and Industrial), and Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022 – 2030
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.
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.
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.
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.
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
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 .