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Asia Pacific Electric Vehicle Busbar Market Trends

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

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Asia Pacific Electric Vehicle Busbar Market Trends

Asia Pacific electric vehicle busbar industry is witnessing a significant rise in demand for high-power charging solutions owing to the increasing adoption of electric vehicles. This shift has led to the development of advanced busbars capable of managing higher current loads. Additionally, the emphasis on enhancing vehicle range and performance has driven the adoption of lightweight materials, such as aluminium, for busbars. Government driven initiatives are also increasing the demand in the market. Furthermore, the integration of smart technologies is becoming more common, enabling real-time monitoring and control of energy flow within EV power systems.

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.