Europe Electric Vehicle Busbar Market Analysis

Europe Electric Vehicle Busbar Market Analysis

To get key market trends

  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.
 

Power rating segment is dominatd 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.
 

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.