Asia Pacific High Power Electric Vehicle Busbar Market Size - By Material (Copper, Aluminum), Country Outlook & Forecast, 2024 – 2032

Asia Pacific High Power Electric Vehicle Busbar Market Size

Asia Pacific High Power Electric Vehicle Busbar Market was valued at USD 213.2 million in 2023 and is likely to register about 20.1% CAGR from 2024 to 2032. Increasing regional demand for electric vehicles (EVs) is a key driver of market growth. Governments, in a bid to combat greenhouse gas emissions and air pollution, are not only enforcing regulations but also offering incentives to bolster the adoption of EVs.

The demand for electric vehicles has surged particularly as they rely on efficient electrical systems to power both propulsion and onboard accessories. For instance, in September 2022, LS Electric, South Korea and SP Group, Singapore collaborated to craft high-power EV charging solutions. Coupled with innovations in busbar technology and the formation of strategic alliances among industry players, the electric vehicle sector is poised for accelerated growth.
 

Asia Pacific High Power Electric Vehicle Busbar Market Trends

Asia Pacific market for high-power electric vehicle busbar is experiencing a surge in demand for high-power charging solutions driven by the growing embrace of electric vehicles. This transition has spurred the evolution of advanced busbars designed to handle heavier current loads. In addition, notable shift towards lightweight materials, preferably aluminum for busbar construction is being adopted to enhance vehicle range and performance. Government initiatives are further bolstering market demand. Moreover, rising trend of integrating smart technologies facilitating real-time monitoring and energy flow control in EV power systems is further propelling the market growth.

Asia Pacific High Power Electric Vehicle Busbar Market Analysis

Asia Pacific high power electric vehicle busbar market will surpass over USD 1.26 billion by 2032. High power ratings facilitate swift energy transfer, slashing charging times. This is pivotal in bolstering the expanding fast-charging station network across the region. Furthermore, progress in materials, manufacturing, and design is streamlining the production of efficient, cost-effective busbars with high power ratings.
 

Based on material, the copper segment will grow at a GAGR of over 19.3% through 2032. Copper's lower resistivity enables it to carry higher currents with minimal power loss. Its exceptional thermal conductivity further aids in effectively dissipating heat, a critical factor in ensuring the stability and performance of electric busbars.
 

China high power electric vehicle busbar market is poised to surpass USD 1.14 billion by 2032, driven by a thriving EV industry, bolstered by supportive government policies and significant investments in EV charging stations. Leveraging its robust manufacturing setup along with both public and private investments is gearing up for efficient busbar production and distribution to meet the escalating demand. Consequently, the uptick in electric vehicle demand has cascaded into a heightened need for EV components including high power busbars.
 

Asia Pacific High Power Electric Vehicle Busbar Market Share

Siemens, TE Connectivity, EAE Group, and Infineon Technologies AG stand out as leaders, primarily due to their robust regional presence. The companies, known for their focus on electric vehicle have strategically leveraged the region's ambitious EV adoption goals. By securing substantial local orders and embracing vertical integration, the companies have further cemented their market dominance, bolstered by ongoing technological innovations.
 

Asia Pacific High Power Electric Vehicle Busbar Market Companies

Major key players operating across the Asia Pacific high power electric vehicle busbar industry are:

• Amphenol Corporation
• Brar Elettromeccanica SpA
• EG Electronics
• EMS Group
• EAE Group
• Infineon Technologies AG
• Legrand
• Littelfuse, Inc.
• Mitsubishi Electric Corporation
• Mersen SA
• Rogers Corporation
• Siemens
• Schneider Electric
• TE Connectivity
• Weidmüller Interface GmbH & Co. KG
   

Asia Pacific High Power Electric Vehicle Busbar Industry News

• In March 2024, Xiaomi launched its inaugural electric vehicle in China with new players entering the market, the demand for electric vehicles in China is set to surge, thereby bolstering the need for efficient & high-power busbar solutions.
   
• In December 2023, Suzuki Motor joined Japan's Advanced SoC Research for Automotive (ASRA), a collaboration among major Japanese automakers and suppliers. The goal is to develop next-generation semiconductors tailored for electric and autonomous vehicles, a move set to bolster the burgeoning EV busbar market.
   

This Asia Pacific high power electric vehicle busbar market research report includes an in–depth coverage of the industry with estimates & forecast in terms of units and revenue in USD Million from 2021 to 2032, for the following segments:

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Market, By Material

• Copper
• Aluminium

The above information has been provided for the following countries:

• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia