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Medium Power Electric Vehicle Busbar Market Trends

Report ID: GMI10469
Published Date: Jul 2024
Report Format: PDF

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Medium Power Electric Vehicle Busbar Market Trends

The global push to reduce carbon emissions and reliance on fossil fuels is accelerating the adoption of electric vehicles (EVs). Governments and consumers are embracing EVs for their environmental benefits, leading to significant demand for medium power busbars essential for efficient power distribution in these vehicles. Governments worldwide are offering incentives such as tax rebates, grants, and subsidies to promote EV adoption. Additionally, stringent emissions regulations are compelling automakers to develop more electric models, increasing the demand for efficient and reliable power distribution components like busbars.

The exploration of advanced materials, such as graphene and carbon nanotubes, is underway to enhance product integrity and efficiency. For instance, in September 2023, Interplex introduced a customizable motor stator busbar system using cutting-edge materials to improve power distribution and motor performance. This shift towards electric mobility is driving innovations in busbar materials and manufacturing, aiming to enhance performance and reliability.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of medium power electric vehicle busbar was worth over USD 196.6 million in 2023 and is anticipated to register 21% CAGR between 2024 and 2032, due to increasing high quality EV charging capabilities across residential and commercial applications.

The copper segment in the medium power electric vehicle busbar market is predicted to record 20% CAGR through 2032, due to its high electrical conductivity, thermal stability, and durability.

Asia Pacific medium power electric vehicle busbar market is projected to reach USD 659 million by 2032, driven by rising environmental awareness, and rapid urbanization.

Amphenol Corporation, Brar Elettromeccanica SpA, EAE Group, EG Electronics, EMS Group, Infineon Technologies AG, Legrand, Littelfuse, Inc., Mersen SA, Mitsubishi Electric Corporation, and Rogers Corporation, among others.