Dublin, June 09, 2021 (GLOBE NEWSWIRE) -- The "Automotive Busbar Market Research Report: By Power Rating (Low, High), Conductor (Copper, Aluminum) - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
Market is expected to generate $177.1 million in 2030, advancing at a CAGR of 24.6% 2021-2030
The increasing adoption of electric vehicles (EVs), cost-effectiveness, ease of installation, along with low repair and service cost of automotive busbars, and development of EV charging infrastructure are some of the key factors behind the growing demand for automotive busbars.
Moreover, the technological developments in the manufacturing and charging infrastructure of EVs are expected to benefit the global automotive busbar market.
The COVID-19 pandemic has considerably impacted the automotive industry due to the temporary shutdown of automotive manufacturing plants. On the Other hand, the EV market showcased an upward trend owing to various government initiatives.
Moreover, the installation of EV charging stations is also a contributing factor in the growing demand for EVs. The rising demand for EVs and charging infrastructure propelled the demand for busbars, thereby positively impacting the automotive busbar industry growth globally.
The automotive busbar market is classified into copper and aluminum on the basis of conductor. Of these, the copper classification held the larger share in 2020, which is credited to the high-volume use of copper as a conducting material for busbars. Copper, non-magnetic by nature, is a good conductor of electricity, corrosion-resistant, and easily machinable, owing to which most of the manufacturing companies prefer it over other conducting materials.
The automotive busbar market is categorized into low and high, on the basis of power rating. The low-power category is expected to be the larger category in the market during the forecast period. This can be majorly ascribed to the increasing utilization flow-power busbars in battery and charging connectors in EVs and EV charging stations. Therefore, the increasing number of charging stations across different countries is expected to propel the market growth in this category.
Geographically, the automotive busbar industry in Asia-Pacific (APAC) is expected to witness significant growth. This will be due to the various initiatives and projects launched by the governments to promote EVs and charging infrastructure deployment in the region,in order to reduce the carbon footprint by building a clean and smart transportation system.
Developments in the driving range of EVs owing to the enhancements in battery management systems and charging efficiency are some of the key factors in favor of the automotive busbar market. Furthermore, the hassle-free installation and low maintenance and service costs are some of the attributes driving the demand for automotive busbars in the region.
The automotive busbar industry is fragmented in nature. Some of the players in the industry have collaborated in the past, resulting in significant strategic expansions, and launched new products to enhance their market presence. For instance, in March 2021, Tai Sin Electric Limited launched its new range of low-voltage busbar trunking systems, which allow for the distribution of electric power with high efficiency and low voltage drop.
In January 2020, Samuel Taylor Limited secured a contract from an automotive technology company Redditch manufacturer to help produce EVs. The former company will manufacture assemblies and bi-metals for the development of the battery busbar technology.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Voice of Industry Experts/KOLs
Chapter 5. Market Indicators
5.1 Global Automotive Industry
5.2 Increasing Stock of EVs
Chapter 6. Definition of Market Segments
6.1 By Power Rating
6.1.1 Low
6.1.2 High
6.2 By Conductor
6.2.1 Copper
6.2.2 Aluminum
Chapter 7. Industry Outlook
7.1 Market Dynamics
7.1.1 Trends
7.1.1.1 Increasing launches of EVs
7.1.1.2 Increasing production of advanced EV inverters
7.1.2 Drivers
7.1.2.1 Increasing use of EVs
7.1.2.2 Low cost and operational benefits of busbars over cables
7.1.3 Impact Analysis of Drivers on Market Forecast
7.1.4 Restraints
7.1.4.1 Volatile raw materials' prices
7.1.5 Impact Analysis of Restraints on Market Forecast
7.2 Impact of COVID-19
7.3 Value Chain Analysis
7.4 Porter's Five Forces Analysis
Chapter 8. Global Market Size and Forecast
8.1 Market Volume, by Power Rating
8.2 Market Revenue, by Power Rating
8.3 Market Volume, by Conductor
8.4 Market Revenue, by Conductor
8.5 Market Volume, by Region
8.6 Market Revenue, by Region
Chapter 9. North America Market Size and Forecast
Chapter 10. Europe Market Size and Forecast
Chapter 11. APAC Market Size and Forecast
Chapter 12. RoW Market Size and Forecast
Companies Mentioned
- Siemens AG
- Mersen Corporate Services SAS
- Hitachi Metals Ltd.
- TB&C Holding GmbH
- EG Electronics AB
- Legrand Holding SA
- ABB Group
- Eaton Corporation plc
- AMETEK Inc.
- Interplex Holdings Pte. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/tbolif