Buy Now
$4,123 $4,850
15% off
$4,840 $6,050
20% off
$5,845 $8,350
30% off
Buy now
Premium Report Details
Base Year: 2024
Companies covered: 15
Tables & Figures: 34
Countries covered: 17
Pages: 132
Download Free PDF

Medium Power Electric Vehicle Busbar Market
Get a free sample of this reportGet a free sample of this report Medium Power Electric Vehicle Busbar Market
Is your requirement urgent? Please give us your business email for a speedy delivery!
Medium Power Electric Vehicle Busbar Market Size
The global medium power electric vehicle busbar market size was valued at USD 258.3 million in 2024 and is estimated to reach the value of USD 1.71 billion by 2034, growing at a CAGR of 20% from 2025 to 2034, due to new technological development, government policies and an increased interest in electric vehicles. As the region proceeds over time, strategic partnership, innovation in materials and processes, and manufacturing technology will redefine power distribution in electric vehicles.
Changes going towards light material to improve vehicle efficiency are running the dynamics of the market. While copper busbar has impressive conductivity, they add a lot of weight to vehicles. Tesla is already using aluminum busbar in model Y, which improves the range and reduces production costs. Advanced composites of LG Chem are also providing busbars with better thermal management and durability, which improves overall vehicle performance.
Smart features being included in the busbar system are receiving traction. In 2024, Samsung SDI introduced a prototype busbar with smart diagnostics, increasing operating capacity and reduced maintenance expenses. Furthermore, Panasonic Electric Works developed a simulation which forecasts performance under a variety of conditions to improve accuracy in design. These advancements allow for real-time monitoring and predictive maintenance which guarantees maximum efficiency and safety.
Nexans and Schneider Electric have already begun to integrate aluminum and copper bus bars into their products because sustainability is now a main focus of manufacturers. This is a response to the Circular Economy Action Plan of the European Union, which demands 70% of EV components by 2030. This change is not only beneficial for the environment but also has a global AIDS in the movement towards environmentally friendly transport solutions.
Medium Power Electric Vehicle Busbar Market Trends
Custom tailoring to specific vehicle requirements facilitates customization, optimally improving performance and reducing wastage, thereby adding to the market growth. In terms of market expansion, strategic collaborations have been vital, as such, in 2024, Interplex collaborated with LG Chem and SK Innovation to design custom flexible busbars tailored for pouch-type battery cells to counter energy loss at the Hyundai E-GMP. For example, ElringKlinger’s joint development agreements with semiconductor companies led to the development of busbars with silicon carbide power modules, increasing efficiency in high-voltage architectures.
To address the increasing needs of the EV industry, Manufacturers are incorporating smart technologies, adopting advanced manufacturing techniques, and lightweight materials. In the initiative of the region and the government, new players are also favorable for the rapidly changing industry to maintain the development and development of EVS.
In 2024, the U.S. Transport Department and the Department of Energy decided to invest USD 325 million to develop EV technology and new charging stations. In parallel, the Indian government’s EMPS 2024 scheme allocated USD 61 million to develop the country’s EV manufacturing ecosystem. These policies have increased innovation as well as the demand for efficient busbar systems.
EV busbar manufacturers and primary bus manufacturers are working together to create universal parts across different vehicle models. For reference, in 2024 BYD and Siemens had a joint venture to develop a modular busbar platform for sedans, SUVs, and commercial van buses. This structure enables quick integration into several battery and propulsion system configurations which reduces time to market for new models. The modularity facilitates greater ease of maintenance and recovery for materials, a company sustainability requirement.
Medium Power Electric Vehicle Busbar Market Analysis
Medium Power Electric Vehicle Busbar Market Share
The top 5 companies in the medium power electric vehicles include Legrand, Merson, Schneider Electric, Siemens and TE connectivity catering to more than 30% market share in 2024. Major corporations have distributed products enhanced by other collaborative organizations, as well as enhanced applications, with other collaborative organizations invested in technology development, especially in busbar development, which are complementary to investment worldwide.
Their dominance of major markets, combined with strong product portfolio combined with strong product portfolio, along with all -round agreements, comprehensive agreements and incredible technological progresses, maintain their aggressive status in the market and benefit them significantly. As a reference, in January 2023, a joint venture between Automotive Sales Company (ACC), Stellantis, SAFT and Mercedes Benz, selected Mersen for the supply of smart laminated busbars for the new busbar refinance models in Europe, to increase the vehicle power system.
Medium Power Electric Vehicle Busbar Market Companies
Key market players operating across the medium power electric vehicle busbar industry are:
Medium Power Electric Vehicle Busbar Industry News
This medium power electric vehicle busbar market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2021 to 2034, for the following segments:
Click here to Buy Section of this Report
Market, By Material
The above information has been provided for the following regions and countries: