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High Power Electric Vehicle Busbar Market Size
- Report ID: GMI10415
- Published Date: Jul 2024
- Report Format: PDF
High Power Electric Vehicle Busbar Market Size
High Power Electric Vehicle Busbar Market size was accessed at USD 353.3 million in 2023 and is projected to grow at a CAGR of 21.8% between 2024 and 2032. Rising investments across EV industry along with positive consumer outlook towards EV adoption is driving the demand for crucial EV components, including EV busbars, thereby spurring market growth. As the adoption of clean energy sources rises, governments are providing incentives and implementing regulations to encourage EV uptake.
For instance, in August 2021, Sertec Group, invested USD 1.84 million in UK’s first mass production assembly line which will produce 40 battery busbar modules per minute. This initiative supported the UK's goal of banning non-battery cars by 2030, highlighting the commitment to sustainable transportation.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| High Power Electric Vehicle Busbar Market Size in 2023: | USD 353.3 Million |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 21.8% |
| 2032 Value Projection: | USD 2.27 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 100 |
| Tables, Charts & Figures: | 12 |
| Segments covered: | Material and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
High Power Electric Vehicle Busbar Market Scope
