The global busbar in EVSE market is driven by the increasing demand for efficient electric transmission and distribution systems and the growing adoption of laminated busbar technology. These factors need to be addressed through cost-effective solutions and strategic planning to ensure sustained market expansion.
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Data Bridge Market Research analyses that the Busbar in EVSE Market is expected to reach the value of USD 2,661,766.25 thousand by 2029, at a CAGR of 14.6% during the forecast period. The rising global adoption of electric vehicles is a major driver for the busbar in EVSE market. As the demand for EVs grows, the need for efficient and reliable charging infrastructure also increases, driving the demand for busbar solutions.
Increasing investment in charging infrastructure is expected to drive the market's growth rate
As the demand for electric vehicles rises, the need for an extensive charging infrastructure becomes crucial. Increasing investments in charging infrastructure networks require reliable and scalable electrical distribution systems. Busbar solutions play a significant role in enabling efficient power distribution within the infrastructure. Minimizing energy losses and optimizing the charging process, busbar solutions ensure the reliable and effective transfer of electricity to charging stations. This supports the growth of the EVSE market by providing a robust and efficient charging infrastructure for electric vehicle users.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Units, Pricing in USD
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Segments Covered
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Conductor (Aluminium, Copper and Others), Power Rating (Low Power, Medium Power (125A-800A), High Power (Above 800A)), Product Type (Laminate Busbar in EVSE/ Composite Busbar, Flexible Busbar, Multiple Conductor Busbar, Single Conductor Busbar), Plating (Tin, Nickel, Silver), Insulation (Epoxy Powder Coating, PET, PA12, PVC And PE), Length (2 M To 3 M, 1 M To 2 M, Less Than 1 M, More Than 3 M), Setup (Fixed, Portable), Application (Commercial, Residential), Vehicle Type (Battery Electric Vehicles (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle), Sales Channel (Direct Channel, Indirect Channel)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Taiwan, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Siemens (Germany), MERSEN PROPERTY (France), nVent (U.S.), ABB (Switzerland), TB&C (U.S.), EG Electronics (Sweden), Starline Holdings, LLC. (A subsidiary of Legrand) (U.S.), Eaton (Ireland), Interplex Holdings Pte. Ltd. (Singapore), EAE ELECTRIC (Turkey), Schneider Electric (France), TE Connectivity (Switzerland), Rogers Corporation (U.S.), Electric Materials Company (U.S.), Rittal GmbH & Co. KG (Germany), Lapp Connecto Oy (Finland), AMPHENOL (U.S.), Tranect Engineering Group (U.S.), Molex (U.S.), AMERICAN POWER CONNECTION SYSTEMS, INC. (U.S.), MGSwitches (U.S.), Shanghai Liangxin Electrical Co., Ltd. (China), among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The busbar in EVSE market is segmented on the basis of conductor, power rating, product type, plating, insulation, length, setup, application, vehicle type, and sales channel.
- On the basis of conductor, the global busbar in EVSE market is segmented into aluminum and copper. Copper segment is expected to dominate the market with a CAGR of 14.5% in the forecast period of 2022 to 2029 due to its offers maximum electricity transfer ability.
- On the basis of power rating, the global busbar in EVSE market is segmented into Low Power, Medium Power (125 A-800 A), High Power (Above 800 A). High Power is expected to dominate the market with a CAGR of 15.0% in the forecast period of 2022 to 2029 due to most commonly used power figure compatible with today’s electronic configuration.
- On the basis of product type, the global busbar in EVSE market is segmented into laminate busbar in EVSE/ composite busbar, flexible busbar, multiple conductor busbar, single conductor busbar. Laminate busbar in EVSE/ composite busbar segment is expected to dominate the market with CAGR of 15.1% in the forecast period of 2022 to 2029 due to its large number adoption on the global level. The 1,000 Amp to 1,200 Amp is the most common type available which allows to be used in modern setup of EV charging.
In 2022, laminate busbar in EVSE/ composite busbar segment is expected to dominate the product type segment in the busbar in EVSE market
In 2022, laminate busbar in EVSE/ composite busbar segment is expected to dominate owing to its suitability for electric vehicle charging infrastructure and composite material's lightweight, durability, and electrical conductivity properties with CAGR of 15.1% in the forecast period of 2022 to 2029.
- On the basis of plating, the global busbar in EVSE market is segmented into tin, nickel, silver. Tin segment is expected to dominate the market with a CAGR of 14.9% in the forecast period of 2022 to 2029 due to cost effectiveness which always attracts the mass market.
- On the basis of length, the global busbar in evse market is segmented into 2 M to 3 M, 1 M to 2 M, Less than 1 M, More than 3 M. 1 M to 2 M segment is expected to dominate the market with a CAGR of 15.4% in the forecast period of 2022 to 2029 due to length is considered to be the ideal length for the EV infrastructure setup where loss of no extra power happens and are capable enough to meet the required power.
- On the basis of insulation, the global busbar in EVSE market is segmented into epoxy powder coating, PET, PA12, PVC and PE. Epoxy powder coating segment is expected to dominate the market with a CAGR of 15.3% in the forecast period of 2022 to 2029 due to the ease it provides in the process of insulating as it can be easily coated to any shape of busbar.
- On the basis of setup, the global busbar in EVSE market is segmented into fixed and portable. The fixed segment is expected to dominate the market with a CAGR of 14.7% in the forecast period of 2022 to 2029 due to being preferred very often because it already has infrastructure work.
- On the basis of application, the global busbar in EVSE market is segmented into commercial and residential. The commercial is then sub-segmented into types. The commercial segment is expected to dominate the market with a CAGR of 14.9% in the forecast period of 2022 to 2029 due to the growing rate of charging infrastructure the current growing speed is only possible when it is done by businesses for business.
- On the basis of vehicle type, the global busbar in the EVSE market is segmented into battery electric vehicles (BEV), plug-in hybrid electric vehicle (PHEV), and hybrid electric vehicle. Battery electric vehicles (BEV) segment is expected to dominate the market with a CAGR of 14.9% in the forecast period of 2022 to 2029 due to BEVs being the most commonly used electric vehicle around the globe and the number of BEVs are increasing with very high rate.
In 2022, battery electric vehicles (BEV) segment is expected to dominate the vehicle type segment in the busbar in EVSE market
In 2022, battery electric vehicles (BEV) segment is expected to dominate owing to zero emissions, advancing battery technology, government incentives, expanding charging infrastructure, and increasing consumer demand for sustainable transportation with a CAGR of 14.9% in the forecast period of 2022 to 2029
- On the basis of sales channel, the global busbar in EVSE market is segmented into direct sales and indirect sales. Direct sales segment is expected to dominate the market with a CAGR of 14.6% in the forecast period of 2022 to 2029 due to direct sale include direct-to-consumer approach where the manufacturer controls all aspects of distribution which allows the product to reach the consumer hassle free.
Major Players
Data Bridge Market Research recognizes the following companies as the major busbar in EVSE market players in busbar in EVSE market are Siemens (Germany), MERSEN PROPERTY (France), nVent (U.S.), ABB (Switzerland), TB&C (U.S.), EG Electronics (Sweden), Starline Holdings, LLC. (A subsidiary of Legrand) (U.S.), Eaton (Ireland), Interplex Holdings Pte. Ltd. (Singapore), EAE ELECTRIC (Turkey).
Market Development
- In 2022, Mersen is pleased to announced the availability of Bus Bar Calculator, a free-access web-solution to precisely compute the key electrical specifications of laminated bus bars in the context of power converter design.
- In 2022, nVent announced plans for improved cooperation through a strategic alliance agreement as well as a new strategic investment in Iceotope Technologies Ltd. This will give the business more room to grow in terms of product selection and seize the market for current customers.
- In 2022, ABB declared that it had a contract in place to buy Siemens' low voltage NEMA motor division. It has manufacturing facilities in Guadalajara, Mexico; this acquisition offers a reputable product lineup
- In 2022, Expansion in Molex's manufacturing facility in Vietnam was announced. This growth will support the increasing demand for the company's products, which are used in a variety of applications.
- In 2021, Stulz and Rittal GmbH & Co. K.G. have joined forces to offer custom data center infrastructure, consulting, support, and services. Power distribution system business growth has been guaranteed by this partnership, which has increased the company's revenue growth.
Regional Analysis
Geographically, the countries covered in the busbar in EVSE market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Taiwan, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is expected to dominate the region in busbar in EVSE market during the forecast period 2022-2029
North America is poised to dominate and experience rapid growth in the busbar in EVSE market due to the region's increasing demand for efficient electric transmission and distribution systems. The U.S., in particular, has shown remarkable responsiveness in adopting laminated busbar technology and making substantial investments in the EV charging network. These factors have propelled the growth of the market in the region, driving the expansion of the busbar in EVSE market in North America.
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