Global Busbar in EVSE Market, By 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) - Industry trends and forecast to 2029.
Busbar in EVSE Market Analysis and Size
Increasing demand of efficient electric transmission and distribution system and rising adoption of laminated busbar are some of the factors which are driving the market. However, high cost of EV charging station installation, availability of cheaper alternative product & alternative power distribution system may hinder the growth of the market.
Data Bridge Market Research analyses that global 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. Solution segment accounts for the largest offering segment in global busbar in EVSE market. Global busbar in EVSE market report also covers pricing analysis, patent analysis, and technological advancements in depth.
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Thousand, Volumes in Units, Pricing in USD
By 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)
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.
Market Players Covered
Siemens, MERSEN PROPERTY, nVent, ABB, TB&C, EG Electornics, Starline Holdings, LLC. (A subsidiary of Legrand), Eaton, Interplex Holdings Pte. Ltd., EAE ELECTRIC, Schneider Electric, TE Connectivity, Rogers Corporation, Electric Materials Company, Rittal GmbH & Co. KG, Lapp Connecto Oy, AMPHENOL, Tranect Engineering Group, Molex, AMERICAN POWER CONNECTION SYSTEMS, INC., MGSwitches, Shanghai Liangxin Electrical Co., Ltd. among others
A busbar is a strip or bar of copper, brass, or aluminium that conducts electricity within a switchboard, distribution board, substation, battery bank, or other electrical apparatus in power distribution. Its primary function is to conduct electricity, not to serve as a structural member. The maximum amount of current that can be safely casted is determined by the cross-sectional size of the busbar. Busbar can have a cross-sectional area as small as 10 mm2, but electrical substations may use metal tubes with a diameter of 50 mm or greater as busbar. Large busbar will be used in an aluminium smelter to carry tens of thousands of amperes to the electrochemical cells that produce aluminium from molten salts.
A busbar, like other basic circuit components, can be identified by its resistance, capacitance, and inductance, ideally with its electrical contributions distributed as evenly as possible across its length to avoid performance inconsistencies. While the lowest possible resistance and inductance values are preferred in a busbar for EV and HEV power distribution, some busbar for that purpose have capacitance added in various ways to increase the charge-carrying capabilities of the power-distribution structure.
Busbar in EVSE Market Dynamics
- INCREASING DEMAND OF EFFICIENT ELECTRIC TRANSMISSION AND DISTRIBUTION SYSTEM
There is a wide usage of power applications that relies on busbars to provide critical interfaces between the power module and the applications. These applications of busbar is evolved in the power, motor, industrial, and automotive industries over the last few decades. Power modules used for inversion or conversion must become more efficient as industries move toward more electrification in transportation, mobility, and renewable energy. In order to increase the efficiency in electric transmission and distribution system busbars are used. As it is used in the electrical installations for distributing power from a supply point to a number of output circuits. There is also a growing tendency among businesses to lower down the overall wasted power in the transmission system. This tendency is due to the reason as this saved power can be utilised in the output power. In the EV charging station the demand of efficient distribution system also increasing as the charge stored in the battery has to be utilize at maximum. Thus, the increasing demand of efficient electric transmission and distribution system in EV charging industry is acting as a driver for the global busbar in EVSE market.
- INCREASING INVESTMENT IN CHARGING NETWORKS
Creating an accessible public charging network will be essential to achieving wide-spread EV adoption. Although most consumers who own EV do charge them at home overnight due to convenience and discounted off-peak rates offered by utilities, public charging is vital for EV consumers who live in multi-unit complexes or those without a private driveway. Additionally, EV owners will need charging along highways and driveways in order to feel confident in their ability to drive longer distances and charge along the way. Expected future battery improvements and increasing investment in charging network will increase EV range. This need to established charging network or charging points for the EV owners in many regions such as Europe, U.S. and Baltic nation is acting as a driver for the global busbar in EVSE market. Other than government initiative and subsidiaries to install EV charging station, private companies are also investing heavily in building charging network in regions were EV sales are high.
- RISING ADOPTION OF LAMINATED BUSBAR
Busbars are sophisticated pieces of technology that make complicated power distribution easier, less expensive and more flexible. In power-intensive electrical applications, a busbar is a critical element for conducting significant current levels between functions within the assembly. Busbars may be used in any number of configurations, ranging from vertical risers to bars within a distribution panel, or part of an industrial process. In order to insulate the power distribution system from other system used in the EVSE, laminated busbars are used as they offer high resistance, flame repellent and can sustain high temperature. Laminated busbar technology consists of a multi-layer composite structure connected with a platoon, which can be regarded as similar to a highway distribution system. In contrast to traditional, time-consuming and cumbersome wiring methods, the use of the laminated busbar approach provides modern, easy to design, quick to install, and well-structured distribution systems. It is characterized by repeatable electrical performance, low impedance, anti-interference, good reliability, space-saving, as well as simple and quick assembly. These industrial friendly characteristics offered by laminated busbar is increasing its adoption in EVSE and is driving the global busbar in EVSE market.
RAPID PENETRATION OF EV/HEV ACROSS GLOBE
The EV industry is showing an enormous growth over the years owing to rising demand for luxurious electric vehicles. Furthermore, major players of electric vehicles market such as Tesla, BMW Group, Nissan Motor Corporation, Toyota Motor Corporation, Volkswagen AG, General Motors, Daimler AG, Energica Motor Company S.P.A., BYD Company Motors, and Ford motor company are focusing on expanding their business operations in emerging countries such as in China, India and others because of the availability of resources at cheaper rates, more production capabilities, low currency exchange rate, more population which would lead to more availability of labour. Automakers of all electric vehicles are integrating innovated systems that make vehicles fuel efficient as well as it also increases safety of the vehicles. The source for charging the electric vehicle is electricity which would be available at convenience for the customers, to charge it up. EV charging station infrastructure is inter- related to owning an EV vehicle. These infrastructures are increasing in the region where EV/HEV sales are increasing; the charging station are being developed in supermarkets, offices, parking slot and in house as well. This in return is acting as an opportunity for the growth of Global busbar in EVSE market.
- HIGH COST OF EV CHARGING STATION INSTALLATION
The importance of busbar is increasing as the EV/HEV are increasing on road across the globe as it an important component in the infrastructure required to build power distribution system. In electric power distribution, a busbar, typically housed inside switchgear, panel boards, and busway enclosures for local high current power distribution. They are also used to connect high voltage equipment at electrical switchyards, and low voltage equipment in battery banks. But the high cost associated in the installation of EV charging station is a major restrain factor for the growth of Global busbar in EVSE market.
COVID-19 Impact on Busbar in EVSE Market
COVID-19 created a major impact on various industries as almost every country has opted for the shutdown for every facility except the ones dealing in the essential goods segment. The government has taken some strict actions such as the shutdown of facilities and sale of non-essential goods, blocked international trade, and many more to prevent the spread of COVID-19. The only business which is dealing in this pandemic situation is the essential services that are allowed to open and run the processes.
COVID-19 outbreak is causing widespread concern and economic hardship for consumers, businesses and communities across the globe. COVID-19 forced many organizations to digitally transform their places of work and education to operate effectively. Nowadays, companies were more and more relying on advanced technologies, such as cloud, AI, and IoT, for the future to sustain in the digital transformation race and to remain ahead of competitors. The pandemic behaviour forced companies to adopt work from home model so that work can still be accomplished while taking measures to halt the virus spread. The growing digital workplace and mobile workforce trends among businesses have become the driving forces behind the growth of the EFSS market in the pandemic period.
Manufacturers are making various strategic decisions to meet the growing demand in COVID-19 period. The players were involved in strategic activities such as partnership, collaborations, acquisitions and others to improve the technology involved in Global busbar in EVSE market. With this, the companies will bring advanced and accurate solutions to the market. In addition, the government initiatives to boost digitization across industries has led to the market's growth.
- In July 2022, nVent announced a new strategic investment in Iceotope Technologies Ltd. and plans for enhanced collaboration through a strategic alliance agreement. This will further allow the company to expand on the product offering level and to grab the existing user market.
- August, ABB announced that it has signed an agreement to purchase Siemens’ low voltage NEMA motor business. It has manufacturing operations in Guadalajara, Mexico, this acquisition provides a well-regarded product portfolio, a longstanding North American customer base, and an experienced operation, sales, and management team which will allow the company to expand in the mentioned region with the already existing customer base.
Global Busbar in EVSE Market Scope
Global busbar in EVSE market is segmented on the basis of by conductor, power rating, product type, plating, length, insulation, setup, application, vehicle type, sales channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
On the basis of conductor, the global busbar in EVSE market is segmented into aluminium, copper and others.
By Power Rating
- Low Power
- Medium Power (125A-800A)
- High Power (Above 800A)
On the basis of power rating, the global busbar in EVSE market is segmented into low power, medium power (125 A-800A), and high power (Above 800A).
By Product Type
- EVSE/ composite busbar
- Flexible busbar
- Multiple Conductor Busbar
- Single Conductor Busbar
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.
On the basis of plating, the global busbar in EVSE market is segmented into tin, nickel, silver.
- 2 M to 3 M
- 1 M to 2 M
- Less than 1 M
- More than 3 M
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.
- Epoxy Powder Coating
On the basis of Insulation, the global busbar in EVSE market is segmented into epoxy powder coating, PET, PA12, PVC and PE.
On the basis of setup, the global busbar in EVSE market is segmented into fixed and portable.
On the basis of application, the global busbar in EVSE market is segmented into commercial and residential. Commercial is then sub segmented into by types.
By Vehicle Type
- Battery Electric Vehicles (BEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
- Hybrid Electric Vehicle
On the basis of vehicle type, the global busbar in EVSE market is segmented into battery electric vehicles (BEV), plug-in hybrid electric vehicle (PHEV), and hybrid electric vehicle.
By Sales Channel
- Direct Channel
- Indirect Channel
On the basis of sales channel, the global busbar in EVSE market is segmented into direct channel and indirect channel.
Global Busbar in EVSE Market Regional Analysis/Insights
Global busbar in EVSE market is analysed and market size insights and trends are provided by conductor, power rating, product type, plating, insulation, length, setup, application, vehicle type, and sales channel.
Global busbar in EVSE market is covers countries such as 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, Indonesia, Taiwan, 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.
North America region is expected to dominate and is the fastest-growing region in the market due to increasing demand of efficient electric transmission and distribution system. Moreover, U.S. has been extremely responsive towards adopting laminated busbar and increasing investment in EV charging network at the same time is propelling the market growth.
The country section of the busbar in EVSE market report also provides individual market impacting factors and changes in regulations in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the significant pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands and the impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Busbar in EVSE Market Share Analysis
Global busbar in EVSE market competitive landscape provides details of the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, solution launch, product width and breadth, application dominance. The above data points are only related to the companies' focus on the global busbar in EVSE market.
Some of the major key players in the global busbar in EVSE market are Siemens, MERSEN PROPERTY, nVent, ABB, TB&C, EG Electornics, Starline Holdings, LLC. (A subsidiary of Legrand), Eaton. Interplex Holdings Pte. Ltd., EAE ELECTRIC, Schneider Electric, TE Connectivity, Rogers Corporation, Electric Materials Company, Rittal GmbH & Co. KG, Lapp Connecto Oy, AMPHENOL, Tranect Engineering Group, Molex, AMERICAN POWER CONNECTION SYSTEMS, INC., MGSwitches, Shanghai Liangxin Electrical Co., Ltd. among others.