Flexible Busbar Market Size, Share & Analysis | Report 2030

Report Description

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.

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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.

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.

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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.

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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.

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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