Global Busbar Electroplating Market

Busbar Electroplating Market Size, Share, Growth Analysis, By Substrate(Copper, Aluminum, Others), By Metal Plating(Tin, Zinc, Silver, Nickel), By End-use Application(Power Generation, Aerospace & Defense, Data Centers, Industrial & Manufacturing), By Region - Industry Forecast 2024-2031


Report ID: SQMIG20N2027 | Region: Global | Published Date: February, 2024
Pages: 246 |Tables: 97 |Figures: 76

Busbar Electroplating Market Insights

Busbar Electroplating Market size was valued at USD 15.74 billion in 2019 and is poised to grow from USD 16.6 billion in 2023 to USD 25.3 billion by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).

The increasing use of electroplated busbars in power distribution systems is one of the major driving factors for the growth of the global market. A rise in the demand for electricity from the residential, commercial, industrial, etc. sectors is the factor that is expected to create growth opportunities for the global busbar electroplating market. The need for an effective conductor and lower energy loss during transmission has replaced conventional power distribution methods with highly conductive metal busbars. Additionally, an increase in industrial activity led to a rise in the operation of electrical devices. Upgradation of the aging electric transmission system has resulted to an increase in the replacement of several transformers to provide uninterrupted electric supply.

Emerging trends that have a significant impact on the effectiveness of the electric T&D equipment network include increased implementation of smart grid technology, implementation of advanced metering infrastructure, and the transition from conventional to modular switchgear. Smart grid technologies include demand response, electrical supply grids that use connectivity, and renewable energy sources to increase energy efficiency. Global market for smart grid technology is expected to triple in size between 2017 and 2023, reaching approximately US$ 61 billion. These factors are creating a lucrative growth opportunity for the busbar electroplating market.

US Busbar Electroplating Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 15.74 billion

Largest Segment

Aluminum

Fastest Growth

Aluminum

Growth Rate

5.4% CAGR

Global Busbar Electroplating Market ($ Bn)
Country Share for Asia Pacific Region (%)

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Busbar Electroplating Market Segmental Analysis

The Global Busbar Electroplating Market is segmented based on the Substrate, Metal Plating, End-use Application, and region. Based on the Substrate, the Busbar Electroplating Market is segmented into Copper, Aluminum, and Others. Based on the Metal Plating, the Busbar Electroplating Market is segmented into Tin, Zinc, Silver, Nickel, Copper, Gold, Platinum, and Other. Based on the End user application, the Busbar Electroplating Market is segmented into Power Generation, Aerospace & Defense, Data Centers, Industrial & Manufacturing, and Others. Based on Region Busbar Electroplating Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Busbar Electroplating Market Analysis by Substrate

Based on substrate, the global busbar electroplating market is segmented into copper, aluminum, and others. The aluminum substrate accounted for the majority market share and was valued at USD 1,936.23 million in 2021. The demand for aluminum electroplated busbars is attributed to cost savings, requiring less support to secure the busbar and less manpower for installation. Moreover, aluminum is the most recycled industrial metal with 75% of aluminum ever produced still in use today. Aluminum busbar prices significantly lower than copper busbar prices. Its lightweight properties alone can result in significant cost savings in handling costs. Aluminum is also highly recyclable, making it less susceptible to market fluctuations or supply scarcity. Increased power consumption from the commercial and residential sector will accelerate the demand of electroplated busbar during the forecasted period.

Busbar Electroplating Market Analysis by End User Application

Based on End user application, The global busbar electroplating market is segmented into power generation, aerospace & defence, data centers, industrial & manufacturing and others. The market is dominated by power generation and was valued at USD 1898.30 million in 2021. Busbars serve as a interface between the power module and the distribution in most power applications. In Power generation, when a number of generators or feeders operating at the same voltage have to be directly connected electrically, busbars are used as the common electrical component. With the future projections of power generation by 2050, global electricity generation will have increased by 123% to 150%. Global electricity production in 2010 was 21.5 billion MWh, and expected to increase by 150% to 53.6 billion MWh by 2050. The data centers fastest growing end user application among all other application. Busbar systems allows data centers to quickly deploy power requirements for their customers, replacing need to wait for contractors to install the necessary cables and plugs: busbar plays plug and play solutions.

Global Busbar Electroplating Market By Substrate, 2023 (%)

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Busbar Electroplating Market Regional Insights

The Asia Pacific region dominates the global market and is projected to maintain a similar trend over the forecast period. Asia Pacific market is projected to grow at the fastest CAGR of 6.6% over the forecast period. The region was valued at USD 1006.83 million in 2021. Electroplating is a labour-intensive service, which is one of the major factors influencing the cost of electroplating services. Low labour costs and available manpower in countries such as China and India have contributed to the region's growth of the busbar electroplating market throughout the forecasted period. North America stood as the second largest market. The growing demand for sustainable energy systems, rapidly growing data center industry and the increased use of smart grids are driving demand across the region.

Global Busbar Electroplating Market By Region, 2024-2031
  • Largest
  • Fastest

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Busbar Electroplating Market Dynamics

Busbar Electroplating Market Driver

Rising demand for electroplating from aerospace and defense application

  • The aerospace and defense industries' increasing demand for electroplated busbar for improved conductivity is expected to drive electroplating market growth. It is the best option for the aerospace and defense industries, which require less space-consuming but high-current-flowing-capacity substances. They have a higher conductivity than ordinary cables and wires while taking up less space. Over the forecast year, these factors are expected to drive the market.

Demand of Electroplated Busbar in Data Centers

  • Power management solutions in data centers have evolved to the point where they are both flexible and easily adaptable to changing requirements. In data center industry, the electroplated busbar is a cost-effective and flexible alternative to traditional cables, providing operators with a solution for intelligent and future-proof power distribution. Electroplated busbars are quickly becoming irreplaceable simply due to their convenience and safety. The cost of cabling and trunking, as well as the time required for installation, are much higher when using traditional cables than using electroplated busbars. These factors are expected to accelerated the demand for electroplated busbars in the market.

Busbar Electroplating Market Restraint

Stringent Regulations Against Pollutants from Electroplating Industry

The electroplating industry is a major contributor to pollution of the environment because its processes emit toxic materials, heavy metals, and solid wastes via effluents and air emissions, there are stringent regulation that needs to be followed in Electroplating industry. For instance, The Water (Prevention and Control of Pollution) Act of 1974 and the Hazardous Wastes (Management, Handling, and Transboundary Movement) Rules of 2008 regulate the electroplating industry. The effluent from the electroplating industry must comply with the new standards notified under Section 9 of Schedule 1 of the Environment (Protection) Act of 1986. These factors are expected to create a challenge in the growth of busbar electroplating market.

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Busbar Electroplating Market Competitive Landscape

The Busbar Electroplating market is highly fragmented and dominated by many small and medium scale players. These players encompass various metal’ electroplating services. Furthermore, B2B E-Commerce platform and Supplier discovery platforms has created more opportunities for small and medium-sized companies. Key players in the busbar electroplating market are adopting strategies like innovation in electroplating technologies, product launches, and mergers & acquisitions, to gain a significant market share. For instance, In March 2022, Valence Surface Technologies LLC (Blairsville, Pennsylvania) announced the acquisition of H&W Global Industries Inc. (Blairsville, Pennsylvania), a provider of surface treatment for highly engineered products in North America's Northeast region. H&W provides surface treatment to a number of the most advanced defense platforms in the US and maintains critical approvals with key A&D primes such as Northrop Grumman.

Busbar Electroplating Market Top Player's Company Profiles

  • ABB Ltd.
  • Legrand SA
  • Schneider Electric SE
  • Eaton Corporation plc
  • Mitsubishi Electric Corporation
  • Siemens AG
  • General Electric Company
  • Rittal GmbH & Co. KG
  • Rogers Corporation
  • Methode Electronics, Inc.
  • Emerson Electric Co.
  • Hubbell Incorporated
  • TE Connectivity Ltd.
  • Pentair plc
  • Nexans S.A.
  • Luvata Oy
  • Gonda Metal Industry Co., Ltd.
  • Copperweld Bimetallics LLC
  • Watteredge LLC
  • Mersen S.A.

Busbar Electroplating Market Recent Developments

  • In May 2022, SIFCO ASC launched a portable all-in-one plating system. The Advanced Solution Control System is a new portable all-in-one plating system from SIFCO ASC that features dripless technology (ASCS). This electroplating technology piece is completely portable, allowing it to be brought directly to the specific part or component. Aside from improving throughput and productivity, lower ergonomic risk will provide significant safety benefits to operators and employees.
  • In March 2022, S+S Industries announced that it will expand into a new facility in Southeast Houston, making it the largest busbar plating company in the world by capacity. S+S' warehousing capacity will also increase significantly, enhancing its ability to serve as a hub-and-spoke distribution system that reduces customers' shipping and storage costs. The new facility will increase the inventory space allowance per customer from six months to nearly a year.
  • In October 2021, Valence Surface Technologies LLC (Blairsville, Pennsylvania) announced the acquisition of H&W Global Industries Inc. (Blairsville, Pennsylvania), a provider of surface treatment for highly engineered products in North America's Northeast region. H&W provides surface treatment to a number of the most advanced defense platforms in the US and maintains critical approvals with key A&D primes such as Northrop Grumman.

Busbar Electroplating Key Market Trends

Upgradation Of Traditional Power Distribution Systems

  • A rise in the demand for electricity from the residential, commercial, industrial, etc. sectors is the factor that is expected to create lucrative growth opportunities for the global busbar electroplating market. The need for an effective conductor and lower energy loss during transmission has replaced conventional power distribution methods with highly conductive metal busbars. Additionally, an increase in industrial activity led to a rise in the operation of electrical devices. Upgradation of the aging electric transmission system has resulted to an increase in the replacement of several transformers to provide uninterrupted electric supply.

Busbar Electroplating Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our Global Busbar Electroplating market analysis, we found that the cost of electroplating services on busbar increases the overall cost of busbar by 12% to 15%. The price of electroplating services on busbar depends on different factors such as, Dimension of the busbar, requirement of cleaning, type of electroplating metals, and the thickness required for electroplating. On a Copper busbar, the service charges may range from 4% to 7% while on an aluminum busbar the service charges are between 20% to 22% of the base price of the busbar. We also found that the tin platting on aluminum busbar is costlier compared to the copper busbar. The aluminum busbar has more impurity compared with the copper busbar. The process of cleaning aluminum busbar makes it costlier, moreover, the required tin platting is more compared to the copper busbar. The cost of electroplating services on an aluminum busbar is approx. US$ 0.75/Kg compare to US$ 0.44/Kg on the copper busbar.

Report Metric Details
Market size value in 2023 USD 15.74 billion
Market size value in 2031 USD 25.3 billion
Growth Rate 5.4%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Substrate
    • Copper, Aluminum, Others
  • Metal Plating
    • Tin, Zinc, Silver, Nickel, Copper, Gold, Platinum, Other
  • End-use Application
    • Power Generation, Aerospace & Defense, Data Centers, Industrial & Manufacturing, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • ABB Ltd.
  • Legrand SA
  • Schneider Electric SE
  • Eaton Corporation plc
  • Mitsubishi Electric Corporation
  • Siemens AG
  • General Electric Company
  • Rittal GmbH & Co. KG
  • Rogers Corporation
  • Methode Electronics, Inc.
  • Emerson Electric Co.
  • Hubbell Incorporated
  • TE Connectivity Ltd.
  • Pentair plc
  • Nexans S.A.
  • Luvata Oy
  • Gonda Metal Industry Co., Ltd.
  • Copperweld Bimetallics LLC
  • Watteredge LLC
  • Mersen S.A.
Customization scope

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  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

Historical Year 2019

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Busbar Electroplating Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Busbar Electroplating Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Busbar Electroplating Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Busbar Electroplating Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Busbar Electroplating Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Busbar Electroplating Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Busbar Electroplating Market size was valued at USD 15.74 billion in 2019 and is poised to grow from USD 16.6 billion in 2023 to USD 25.3 billion by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).

The Busbar Electroplating market is highly fragmented and dominated by many small and medium scale players. These players encompass various metal’ electroplating services. Furthermore, B2B E-Commerce platform and Supplier discovery platforms has created more opportunities for small and medium-sized companies. Key players in the busbar electroplating market are adopting strategies like innovation in electroplating technologies, product launches, and mergers & acquisitions, to gain a significant market share. For instance, In March 2022, Valence Surface Technologies LLC (Blairsville, Pennsylvania) announced the acquisition of H&W Industries Inc. (Blairsville, Pennsylvania), a provider of surface treatment for highly engineered products in North America's Northeast region. H&W provides surface treatment to a number of the most advanced defense platforms in the US and maintains critical approvals with key A&D primes such as Northrop Grumman. 'ABB Ltd.', 'Legrand SA', 'Schneider Electric SE', 'Eaton Corporation plc', 'Mitsubishi Electric Corporation', 'Siemens AG', 'General Electric Company', 'Rittal GmbH & Co. KG', 'Rogers Corporation', 'Methode Electronics, Inc.', 'Emerson Electric Co.', 'Hubbell Incorporated', 'TE Connectivity Ltd.', 'Pentair plc', 'Nexans S.A.', 'Luvata Oy', 'Gonda Metal Industry Co., Ltd.', 'Copperweld Bimetallics LLC', 'Watteredge LLC', 'Mersen S.A.'

The aerospace and defense industries' increasing demand for electroplated busbar for improved conductivity is expected to drive electroplating market growth. It is the best option for the aerospace and defense industries, which require less space-consuming but high-current-flowing-capacity substances. They have a higher conductivity than ordinary cables and wires while taking up less space. Over the forecast year, these factors are expected to drive the market.

A rise in the demand for electricity from the residential, commercial, industrial, etc. sectors is the factor that is expected to create lucrative growth opportunities for the busbar electroplating market. The need for an effective conductor and lower energy loss during transmission has replaced conventional power distribution methods with highly conductive metal busbars. Additionally, an increase in industrial activity led to a rise in the operation of electrical devices. Upgradation of the aging electric transmission system has resulted to an increase in the replacement of several transformers to provide uninterrupted electric supply.

The Asia Pacific region dominates the market and is projected to maintain a similar trend over the forecast period. Asia Pacific market is projected to grow at the fastest CAGR of 6.6% over the forecast period. The region was valued at USD 1006.83 million in 2021. Electroplating is a labour-intensive service, which is one of the major factors influencing the cost of electroplating services. Low labour costs and available manpower in countries such as China and India have contributed to the region's growth of the busbar electroplating market throughout the forecasted period. North America stood as the second largest market. The growing demand for sustainable energy systems, rapidly growing data center industry and the increased use of smart grids are driving demand across the region.

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Global Busbar Electroplating Market

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