Electric Vehicle (EV) Busbar Market is Forecasted to Reach US$ 4.8 Billion in 2030, Says Stratview Research

Stratview Research, a global market research firm, has launched a report on the global Electric Vehicle (EV) Busbar Market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:

https://www.stratviewresearch.com/Request-Sample/3853/electric-vehicle-busbar-market.html#form

Market Statistics:

Market Size in 2024: US$ 1.7 billion

Market Size in 2030: US$ 4.8 billion

Growth (CAGR): 15% during 2024-2030

Cumulative Sales Opportunity 2024 to 2030: US$ 24.6 Billion

Leading EV Type: BEV

Leading Product Type: Rigid Busbar

Leading Material Type: Copper

Leading Sales Channel Type: Battery manufacturers

Leading Vehicle Type: LV

Leading Region: Asia-Pacific

Forecast Period: 2024-2030

Trend Period: 2018-2022

Base Year: 2023

Number of Segments Covered: 6

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights & Market Share Analysis of the Electric Vehicle (EV) Busbar Market:

The global Electric Vehicle (EV) Busbar Market is segmented based on EV type, product type, material type, sales channel type, vehicle type and region.

Based on EV type

• The EV busbar market is segmented into BEV and HEV.
• BEV segment accounted for the larger market share.
• BEVs operate solely on electric power and have larger batteries and high-voltage systems; hence, they require efficient and high-current connections. Its all-electric architecture makes the busbar perfect for connecting high-voltage systems such as the battery, inverter, and motor controller.
• ·HEVs have both electric and combustion power, and require less extensive busbar systems, limiting their market share.

Based on product type

• The market is segmented into rigid busbars and flexible busbars.
• Rigid Busbar is the dominant product of the market over the forecasted period.
• The rigid busbar offers unparalleled thermal performance, high current carrying capacity, mechanical strength, and compact and space-saving design. They are reliable solutions for high-power distribution in electric vehicles, such as connecting battery packs to inverters or power control units.
• Flexible busbars are likely to experience faster growth during the forecast period owing to their advantages, such as greater flexibility in routing, absorb vibrations better than rigid busbars, and ease of installation and maintenance.

Based on material type

• The market is segmented into copper, aluminum, and bimetallic.
• Copper is currently the most preferred material of the market, whereas aluminum is expected to experience the fastest growth during the forecast period.
• Copper busbar has exceptional electrical conductivity, thermal efficiency, mechanical strength, resistance to corrosion, and compatibility with high-voltage systems. They can carry higher currents compared to aluminum busbars of the same size, making them a preferred choice for EVs, especially for high-power and high-performance applications.

Based on sales channel type

• The market is segmented into battery manufacturers and OEMs.
• Battery manufacturers are expected to remain the preferred sales channel of the market during the forecast period.
• Whereas OEMs are projected to grow at a faster rate during the forecast period.

Based on vehicle type

• The market is segmented into LV and M&HCV.
• LV (passenger cars, SUVs, etc.) is the largest vehicle type in the total EV market, which drives the higher demand for busbars in this segment. Also, increasing focus on mass-producing light electric vehicles requires high-performance busbars.

To know the most attractive segments, click here for a free sample of the report:

https://www.stratviewresearch.com/Request-Sample/3853/electric-vehicle-busbar-market.html#form

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest market for EV Busbar during the forecast period. This growth outlook is majorly attributed to the following–

• In terms of region, the market is segmented into North America, Europe, Asia-Pacific, and RoW.
• Asia-Pacific is the largest producer and consumer of electric vehicles, majorly driven by China. Leading Chinese EV manufacturers include BYD, SAIC, Geely, and Xpeng. Also, a major EV OEM, Tesla, has a manufacturing plant in China.
•  Rising infrastructure investments, strong government policies, the presence of leading EV battery and component manufacturers, and an increasing domestic consumer base of EVs are some other factors driving the demand for EV busbars in the region.

Likewise, North America is likely to experience the fastest growth during the forecast period owing to rising EV production, government incentives, and rising consumer demand.

Electric Vehicle (EV) Busbar Market Drivers:

Some of the key drivers listed in the report are given below.

• Global Electric Vehicle Growth: The worldwide shift to electric cars is increasing demand for EV busbars, essential parts that distribute power efficiently in battery packs and charging systems. Government support, tougher emissions laws, and more consumer interest are boosting EV sales.
• Demand for Lighter, High-Performance Power Components: EV makers want lightweight, compact, and highly conductive parts to extend driving range and improve efficiency. Busbars using advanced copper alloys and aluminum provide superior electrical performance while weighing less than conventional wire harnesses. This switch to busbars improves heat control and dependability, meeting EVs' growing power needs.
• Advanced Busbar Technology and Materials: New developments like flexible busbars, laminated designs, and improved surface coatings enhance electrical flow, heat removal, and structural durability. These improvements allow busbars to manage higher electrical loads and support rapid charging systems, matching the developing EV industry requirements.
• Increasing EV Charging Networks and Energy Storage: Expanding public and private charging stations, combined with renewable energy and storage system integration, is boosting busbar demand in power distribution units and battery energy storage systems. With significant government infrastructure investments (such as the US Infrastructure Investment and Jobs Act), busbar use now extends from vehicles to charging stations and electrical grid systems.

Competitive Landscape: Top 10 Companies in the Electric Vehicle (EV) Busbar Market:

The market is moderately fragmented, with over 20 players. Most of the major players compete on some of the governing factors, including price, service offerings, regional presence, etc. Stratview Research has identified the following companies as the top market players:

• Amphenol Corporation
• APTIV
• Ennovi
• Methode Electronics (Methode Power Solution)
• Shenzhen Everwin Precision Technology Co, Ltd.
• SCHERDEL
• Suzhou West Deane Machinery Inc.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the data center liquid cooling market, answering critical questions like

-       How big is the sales opportunity?

-       Which regions offer the best sales opportunities?

-       Which are the most attractive market segments?

-       Which are the top players and their market positioning?

-       How complex is the business environment?

-       What are the factors affecting the market?

For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

Related Reports:

-         Electric Vehicle (EV) Ducts Market

-         Electric Vehicle (EV) Fasteners Market

You may also like:

-         railway battery market

-         para aramid fiber market

-         railway bearings market

-         single use systems market

About us –

Stratview Research is a global market research and consulting firm that highly specializes in IT & telecom, aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to make convincing business decisions.

Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

Are you looking for any specific data customized to your objectives? We are just an email away.

Stratview Research

E-mail: sales@stratviewresearch.com

Direct: +1-313-307-4176