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Medium Power Electric Vehicle Busbar Market Size
- Report ID: GMI10469
- Published Date: Jul 2024
- Report Format: PDF
Medium Power Electric Vehicle Busbar Market Size
Medium Power Electric Vehicle Busbar Market was valued at USD 196.6 million in 2023 and is projected to grow at a CAGR of 21 % between 2024 and 2032. Increasing investments in the EV industry, coupled with a growing consumer inclination towards EVs, are fueling the demand for critical EV components, notably EV busbars, thereby propelling market expansion.
Shifting trends towards cleaner energy sources gains momentum, governments worldwide are rolling out incentives and regulations to bolster EV adoption. For instance, in August 2021, when the Sertec Group injected a substantial USD 1.84 million into the UK's inaugural mass production assembly line, geared to churn out 40 battery busbar modules per minute. This strategic move not only bolstered the UK's ambition to phase out non-battery vehicles by 2030 but also underscored its unwavering dedication to sustainable mobility.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Medium Power Electric Vehicle Busbar Market Size in 2023: | USD 196.6 Million |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 21% |
| 2032 Value Projection: | USD 1.18 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 80 |
| 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) :
Medium Power Electric Vehicle Busbar Market Scope
