Europe Electric Vehicle Busbar Market Size

Europe Electric Vehicle Busbar Market was valued at USD 76.6 million in 2023 and is estimated grow at a CAGR of over 24% between 2024 and 2032, propelled by stringent emissions regulation and government incentives. The market is experiencing a surge in investments and R&D efforts to improve busbar efficiency, reliability, and performance owing to the increasing demand for electric vehicles. In addition, shifting government focus towards electrification of public transport & infrastructure which will cater to cleaner and sustainable transportation systems, thereby infusing market growth.

Advancements in busbar materials, designs, and manufacturing processes are driving innovation, resulting in lighter, more compact, and higher-capacity solutions. For instance, in November 2020, Samuel Taylor Limited (STL) received funding from Innovate UK for the EVBus project, a collaboration with TWI Ltd to explore innovative copper to aluminum bonding techniques for ZEV busbars. Furthermore, Strategic collaborations among automotive manufacturers, component suppliers, and technology providers are boosting the market, positioning the region as a global EV industry leader.

Europe Electric Vehicle Busbar Market Trends

Europe electric busbar market is witnessing shift towards advancing busbar technologies to improve efficiency, reliability, and performance to aid the transition to cleaner transportation solutions. Also, advancements in materials, designs, and manufacturing processes are driving the development of lighter, more compact, and higher-capacity busbar solutions. Moreover, strategic collaborations in industry are driving innovation and market growth, positioning the region as a key player in the market and emphasizing its commitment to sustainability.

Europe Electric Vehicle Busbar Market Analysis

Learn more about the key segments shaping this market

Download Free Sample

Based on material, the copper segment will surpass over USD 309 million by 2032 due to its excellent electrical conductivity, making it highly efficient for carrying electric currents within EVs. Also, it’s low resistivity ensures minimal power loss during transmission, thereby maximizing energy efficiency. Additionally, copper boasts exceptional thermal conductivity, facilitating efficient heat dissipation and ensuring the reliability and longevity of busbar systems.

Learn more about the key segments shaping this market

Download Free Sample

Power rating segment is dominated by high power predicted to grow at a CAGR of over 24% through 2032, propelled by increased energy requirements of advanced electric drivetrains and battery systems. Additionally, advancements in EV technology, including fast charging capabilities and high-performance electric motors, further drive the need for busbars with higher power ratings to accommodate these features. Moreover, trend towards electrification in commercial fleets and public transportation also drives the demand, supporting transition to sustainable mobility solutions, thereby positively stimulating the busbar industry.

Looking for region specific data?

Download Free Sample

Germany electric vehicle busbar market is projected to surpass USD 110 million by 2032. The country's global leadership in automotive manufacturing, with brands like Volkswagen, BMW, and Mercedes-Benz, drives substantial demand for electric vehicle components, including busbars. Additionally, it's robust R&D infrastructure accelerates the development of advanced busbar solutions for the electric vehicle industry. For instance, in February 2020, Siemens Smart Infrastructure introduces LData, a busbar system for data centres aiming to enhance efficiency and adaptability amid rising internet traffic and IoT connections.

The rising adoption of electric vehicles and supportive government policies are set to boost EV manufacturing and increase the deployment of related products across France. For example, in May 2024, the French government, in collaboration with EV industry manufacturers, signed a medium-term planning agreement aimed at increasing EV sales to up to 800,000 units by 2027. These factors are creating a conducive environment for the development and implementation of efficient power distribution systems in the EV sector.

Europe Electric Vehicle Busbar Market Share

Siemens is projected to hold one of the largest market share in the electric vehicle busbar market across Europe. This dominance is attributed to Siemens' extensive expertise in electrical infrastructure and commitment to sustainable mobility solutions. Leveraging its advanced technology and widespread network, Siemens provides comprehensive busbar solutions tailored to evolving needs of the electric vehicle industry, solidifying its position as market leader in Europe.

Europe Electric Vehicle Busbar Market Companies

Some of the key market players operating across the Europe electric vehicle busbar industry are:

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

Europe Electric Vehicle Busbar Industry News

• In April 2024, Schneider Electric introduced new eMobility solutions aimed at boosting electric vehicle (EV) adoption by enhancing charging reliability and efficiency across residential, commercial, and mobile environments. These solutions include EVlink Pro DC 180kW charging stations, Schneider Charge for residential use, and EcoStruxure for eMobility EV Advisor, all designed to optimize charging performance.
  
• In March 2024, VMAX and Infineon Technologies AGs collaborated for its upcoming 6.6 kW on-board charger series with OBC/DCDC configuration. These components, packaged in D²PAK, combine ultra-fast TRENCHSTOP 5 IGBTs with SiC Schottky Diodes, offering an optimal cost-performance ratio. With superior performance and high quality, they perfectly suit VMAX's needs.
  

This Europe electric vehicle busbar market research report includes an in–depth coverage of the industry with estimates & forecast in terms of revenue in ‘USD million’ from 2021 to 2032, for the following segments:

Click here to Buy Section of this Report

Market, By Material

• Copper
• Aluminium

Market, By Power Rating

• Low
• Medium
• High

The above information has been provided for the following countries:

• Europe
  • Norway
  • Germany
  • France
  • Netherlands
  • UK
  • Sweden