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Electric Vehicle Busbar Market Trends

Report ID: GMI8724
Published Date: Mar 2024
Report Format: PDF

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Electric Vehicle Busbar Market Trends

Increasing EV adoption along with supportive government policies towards adoption of advance EV charging stations will bolster the product demand. Rising demand for high-performance EVs drives the development of advanced busbars handling higher power loads with fast charging speeds, ensuring better performance and convenience. Additionally, with the focus on range and performance, manufacturers are developing lightweight and compact designs to reduce the weight and saving space. Additionally, Introduction of advance materials to support the product integrity including the usage of graphene and carbon nanotubes is being explored to further enhance the efficiency and durability.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of electric vehicle busbar was reached USD 589.3 million in 2023 and is expected to register 21.3% CAGR from 2024 to 2032, owing to the increased investments by major automakers along with governments offering incentives and implementing regulation to encourage the adoption worldwide.

The copper EV busbar segment is expected to reach USD 2.47 billion by 2032, due to its high electrical conductivity, thermal stability, and durability.

Asia Pacific electric vehicle busbar industry is estimated to cross USD 2.02 billion by 2032, due to growing EV production, environmental awareness and rapid urbanization along with government incentives in the region.

Brar Elettromeccanica SpA, EAE Group, EG Electronics, EMS Group, Infineon Technologies AG, Legrand, Littelfuse, Inc., Mersen SA, Mitsubishi Electric Corporation, Rogers Corporation, Schneider Electric, and Siemens, are some of the major electric vehicle busbar companies worldwide.