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Asia Pacific Electric Vehicle Busbar Market Size

Report ID: GMI8925
Published Date: Apr 2024
Report Format: PDF

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Asia Pacific Electric Vehicle Busbar Market Size

Asia Pacific Electric Vehicle Busbar Market was valued at USD 355.5 million in 2023 and is predicted to showcase about 19.6% CAGR between 2024 and 2032, fuelled by increasing demand for electric vehicles across the region.

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Governments are enforcing regulations and offering incentives to promote electric vehicles (EVs) in the fight against greenhouse gas emissions and air pollution. This has increased demand for electric vehicle, which require efficient electrical systems to power propulsion and onboard accessories. With advancements in busbar technology and strategic alliances between market players, this industry is expected to grow more rapidly.

Asia Pacific Electric Vehicle Busbar Market Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific Electric Vehicle Busbar Market Size in 2023:	USD 355.5 Million
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	19.6%
2032 Value Projection:	USD 2.02 Billion
Historical Data for:	2019 - 2023
No. of Pages:	150
Tables, Charts & Figures:	240
Segments covered:	Material, Power rating, and Region
Growth Drivers:	Increasing adoption electric vehicles Government initiatives & incentives Technological advancements
Pitfalls & Challenges:	EV range and supporting infrastructure

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Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of Asia Pacific electric vehicle busbar was reached USD 355.5 million in 2023 and is expected to register 19.6% CAGR from 2024-2032 owing to increasing demand for EVs, vehicles and governments enforcing regulations and offering incentives to promote electric vehicles (EVs) in the region.

Asia Pacific electric vehicle busbar industry from the copper segment is expected to exceed USD 1.3 billion by 2032 due to offering lower resistivity, thereby efficiently carrying higher currents with minimal power loss.

China electric vehicle busbar industry is expected to cross USD 1.8 billion by 2032 due to robust EV industry, supportive government policies, and extensive investments in deploying EV charging stations in the country.

EAE Group, Infineon Technologies AG, Littelfuse, Inc., Legrand, Mitsubishi Electric Corporation, Mersen SA, Corporation, Siemens, Schneider Electric, TE Connectivity, and Weidmüller Interface GmbH & Co. KG, are some of the major electric vehicle busbar companies in Asia Pacific.