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Automotive Busbar Market To Generate Revenue Worth $177.1 Million by 2030 says P&S Intelligence

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News provided by

P&S Intelligence

27 Apr, 2021, 08:30 GMT

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NEW YORK, April 27, 2021 /PRNewswire/ -- 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. Due to these factors, the market is expected to generate $177.1 million in 2030, advancing at a CAGR of 24.6% 2021–2030, according to the market research report published by P&S Intelligence.

Get the sample copy this report @ https://www.psmarketresearch.com/market-analysis/automotive-busbar-market/report-sample

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. 

High Preference for Copper Busbars over Aluminum Busbar Attributed to Their Better Conductivity

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.

Browse detailed report with COVID-19 impact analysis on Automotive Busbar Market Research Report: By Power Rating (Low, High), Conductor (Copper, Aluminum) – Global Industry Analysis and Growth Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/automotive-busbar-market

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.

Make enquiry about this report @ https://www.psmarketresearch.com/send-enquiry?enquiry-url=automotive-busbar-market

Major players operating in the automotive busbar industry include Siemens AG, Schneider Electric SE, Mersen Corporate Services SAS, TE Connectivity Ltd., Eaton Corporation Plc, Hitachi Metals Ltd., Interplex Holdings Pte. Ltd., Rogers Corporation, ABB Group, AMETEK Inc., E.G. Electronics AB and Watteredge LLC.

Browse More Reports

Automotive Over-The-Air Updates Market - In the near future, the automotive OTA updates market is projected to grow the fastest in Asia-Pacific (APAC). As most of the road crash fatalities occur in developing countries, regional governments are making the installation of safety features in automobiles mandatory.

Automotive Wire Harness Market Report - The mushrooming deployment of electric vehicles (EVs) is one of the major factors responsible for the growing demand for automotive wire harnesses across the world.

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

Contact:

Prajneesh Kumar
P&S Intelligence
Contact: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

Logo: https://mma.prnewswire.com/media/1224988/P_and_S_Intelligence_Logo.jpg

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