Electric Vehicle (EV) Busbar Market Analysis | 2025-2030

Attractive Opportunities

Global Demand Analysis & Sales Opportunities in EV Busbar Market:

• The annual demand for EV busbar was USD 2.0 billion in 2024 and is expected to reach USD 2.5 billion in 2025, up 25.3% than the value in 2024.

• During the forecast period (2025 to 2030), the EV busbar market is expected to grow at a CAGR of 13.0%. The annual demand will reach of USD 4.7 billion in 2030.

• During 2025-2030, the EV busbar industry is expected to generate a cumulative sales opportunity of USD 22.57 billion.

High-Growth Market Segments:

• Asia-Pacific is expected to maintain its reign over the forecast period, whereas North America is likely to grow at the fastest rate. 

• By Propulsion type, BEV is estimated to contribute the largest share of the market.

• By Product type, Rigid Busbar is expected to remain the leading segment for EV busbar throughout the forecast period.

• By Material type, Copper is likely to hold the dominant position in the market.

• By Insulation Material type, PET is the dominantly used insulation material for EV busbars.

• By Insulation type, Film remains the biggest insulation form type and is expected to experience the fastest growth in the coming years.

• By Sales Channel type, Battery Manufacturers are expected to remain the most attractive sales channel type by 2030.

• By Application type, Inside-Battery Busbars lead the EV busbar market, while Outside-Battery Busbars are expected to witness faster growth during the forecast period.

• By Inside Battery Cross-Sectional Area type, 35-50 sq mm cross-sectional area is expected to lead in sales, while the > 50 sq mm category is projected to grow fastest during 2025-2030.

• By Outside Battery Cross Sectional Area type, 70-90 sq mm cross-sectional area is expected to remain the most attractive product by 2030, while the > 90 sq mm category is projected to grow fastest during 2025-2030.

Market Statistics

Have a look at the sales opportunities presented by the EV busbar market in terms of growth and market forecast.

Market Dynamics

What is an Electric Vehicle (EV) Busbar?

• An Electric Vehicle (EV) busbar is a high-current electrical conductor that efficiently distributes power in EVs, connecting battery packs, inverters, motors, and other high-voltage components.

• Compared to traditional wiring, EV busbars provide lower electrical resistance, superior thermal performance, and compact design, making them critical for battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs).

• With the global EV market growing rapidly, reliable busbars are key to improving efficiency, safety, and performance in modern electric mobility solutions.
   

Market Drivers:

Significant Increase in EV Fleet

• International Energy Agency (IEA) projections indicate that the global electric vehicle fleet (excluding two- and three-wheelers) could reach approximately 250 million units by 2030 under stated policy scenarios, representing nearly a four-fold increase from 2024 levels.

• This rapid fleet expansion is driving sustained demand for scalable, high-power electrical architectures, increasing the adoption of advanced busbar systems for efficient current distribution, thermal management, and voltage stability in next-generation electric vehicles.

Rapid Growth in Global Electric Vehicle Sales

• According to our analysis, the global electric vehicle sales reached approximately 20.7 million units in 2025, registering a year-on-year growth of nearly 20%. This strong expansion in EV production and deployment is significantly increasing demand for high-current, low-resistance busbars used in battery packs, inverters, power distribution units, and power electronics systems.

• As automakers accelerate electrification strategies and scale up manufacturing capacities worldwide, the requirement for efficient, lightweight, and thermally stable busbar solutions continues to rise, directly supporting long-term EV busbar market growth.

Expansion of High-Power EV Charging Infrastructure

• According to the IEA, global public charging capacity for light-duty electric vehicles must expand nearly ninefold by 2030 to meet demand under stated policy scenarios.

• This accelerating deployment of high-power charging networks is driving demand for advanced EV busbars capable of handling higher current loads, thermal stresses, and reliability requirements across charging and power management systems.
   

Market Opportunities:

Untapped Regional EV Markets

• Significant disparities in EV adoption present a key growth opportunity for the EV busbar market. While China and parts of Europe show high electrification rates, many regions in Latin America, Africa, and Southeast Asia remain early in the EV transition with low penetration and limited charging infrastructure.

• Expanding electrification in these untapped markets, especially in commercial and public transport, can drive demand for high-current, reliable busbar solutions.

Electrification of Commercial and Public Transport Vehicles

• Electrification is expanding beyond passenger cars into commercial vehicles, buses, and delivery fleets. According to the IEA, electric buses could account for around 15?% of bus sales by 2030, while electric trucks may exceed 30?% of total truck sales in leading markets.

• This growing adoption in heavy-duty segments is driving demand for robust, high-current busbars capable of handling larger batteries and higher power loads, presenting a significant opportunity for manufacturers to supply specialized, high-performance solutions.

Segment Analysis

By Propulsion Type

"BEV is estimated to contribute the largest share of the market."

• The Battery Electric Vehicle (BEV) segment is projected to remain the leading growth driver for the EV busbar market. BEVs rely solely on electric power, requiring high-conductivity, insulated busbars to manage energy flow across battery packs, inverters, and e-motors.

• Supportive government policies and stringent emission norms are accelerating BEV adoption globally. Hybrid Electric Vehicles (HEVs), including mild and plug-in hybrids, use fewer busbars due to partial electrification and lower system voltage.

By Product Type

"Rigid Busbar is expected to remain the leading segment for EV busbar throughout the forecast period."

• Rigid busbars remain dominant, offering high current capacity, superior thermal performance, mechanical strength, and compact design. They are ideal for connecting battery packs to inverters or power control units in EVs. Flexible busbars are growing in popularity due to their ease of installation, vibration absorption, and routing flexibility, making them suitable for evolving EV architectures.

By Material Type

"Copper is likely to hold the dominant position in the market.?"

• Copper busbars are currently preferred due to high conductivity, thermal efficiency, and corrosion resistance, particularly in high-power EVs. Aluminum busbars are expected to grow fastest, being 40% lighter than copper, ideal for weight-sensitive designs where space allows larger cross-sections to achieve the same ampacity.

By Insulation Material Type

"PET is the dominantly used insulation material for EV busbars."

• PET remains the dominant insulation material for EV busbars due to cost-effectiveness, thermal stability, and dielectric strength. PA12 is expected to grow fastest, offering flexibility, durability, and chemical resistance for compact battery designs with complex layouts. Other materials include PI, epoxy powder, silicon rubber, and PVC.

By Insulation Form Type

"Film remains the biggest insulation form type and is expected to experience the fastest growth in the coming years."

• Film insulation dominates the market and is projected to maintain the fastest growth due to its lightweight, flexible design and high dielectric strength, supporting space-efficient layouts and effective thermal management. Other forms include powder coating, heat-shrink tubing, dipping, and specialty forms using materials such as PET, PA12, PI, and epoxy.

By Sales Channel Type

"Battery Manufacturers are expected to remain the most attractive sales channel type by 2030."

• Battery manufacturers dominate sales as they require high-conductivity, insulated busbars for module-to-cell interconnections and battery junction boxes. OEMs are growing faster, driven by system-level integration of high-voltage busbars to enhance overall vehicle efficiency and performance.

By Application Type

"Inside-Battery Busbars lead the EV busbar market, while Outside-Battery Busbars are expected to witness faster growth during the forecast period."

• Inside-battery busbars dominate due to their role in efficient current flow and thermal management within dense battery packs. Outside-battery busbars, connecting the battery to inverters, motors, and chargers, are growing faster due to high-voltage architectures and complex e-powertrain layouts.

Regional Analysis

"Asia-Pacific is expected to maintain its reign over the forecast period, whereas North America is likely to grow at the fastest rate."

• Asia-Pacific is the largest market for EV busbars, led by China, with key manufacturers like BYD, SAIC, Geely, Xpeng, and Tesla’s China plant. Strong government policies, infrastructure investment, and growing domestic EV demand drive this dominance.

• North America is the fastest-growing market due to rising EV production, consumer demand, and supportive incentives. Europe and the rest of the World also show steady growth due to the adoption of BEVs, HEVs, and expanding charging networks.

Competitive Landscape

The market is moderately fragmented with the presence of over 60 players across the region. Key players are developing advanced and customized busbars to meet the specific requirements of OEMs and battery manufacturers. Major players are performing strategic mergers and acquisitions to gain market share. For instance, Amphenol Corporation has recently acquired Connor Manufacturing Services. The following are the key players in the EV Busbar Market: 

Here is the list of the Top Players (Based on Dominance)

• APTIV

• Leoni AG

• Amphenol Corporation

• Ennovi

• Rogers Corporation

• Scherdel  

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at [email protected]

Recent Developments/Mergers & Acquisitions: 

March 2025 – CATL and LG Chem Partner for Copper Busbar Technology

• CATL announced a strategic partnership with LG Chem to co-develop advanced copper busbar solutions for next-generation EV battery modules, aimed at improving current handling and thermal performance in high-power battery systems.

March 2025 – Mitsubishi Electric Acquires BusbarTech Co. to Expand Laminated Busbar Supply

• Mitsubishi Electric announced the acquisition of BusbarTech Co. to enhance its capabilities in laminated busbar manufacturing for EV battery packs, reinforcing its position in key EV electrical distribution systems.

June 2025 – Aptiv Partners with Volkswagen on Integrated Busbar Modules

• Aptiv entered into a strategic collaboration with Volkswagen to co-develop and supply integrated laminated busbar modules for next-generation electric vehicle powertrains, targeting improved electrical efficiency and packaging.

June 2025 – Panasonic Unveils High-Performance Copper Busbar Module

• Panasonic launched a new copper busbar interconnect solution designed for high-power EV battery packs to enable higher discharge rates and reduced electrical resistance, strengthening its portfolio of EV power distribution components. 

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.

• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.

• Market trend and forecast analysis.

• Market segment trend and forecast.

• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.

• COVID-19 impact and its recovery curve.

• Attractive market segments and associated growth opportunities.

• Emerging trends.

• Strategic growth opportunities for the existing and new players.

• Key success factors.

Market Segments

The EV Busbar Market is segmented into the following categories. 

EV Busbar Market, by Propulsion Type

• BEV (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

• HEV (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

EV Busbar Market, by Vehicle Type

• LV (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

• M&HCV (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

EV Busbar Market, by Product Type

• Rigid Busbar (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

• Flexible Busbar (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

EV Busbar Market, by Material Type

• Copper (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

• Aluminum (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

• Bimetallic (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

EV Busbar Market, by Insulation Material Type

• PET (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

• PI (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

• PA12 (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

• Epoxy Powder (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

• Silicon Rubber (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

• PVC (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

• Other Insulation Material (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

EV Busbar Market, by Insulation Form Type

• Powder Coating (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

• Heat Shrink Tubing (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

• Dipping (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

• Film (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

• Other Insulation Forms (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

EV Busbar Market, by Sales Channel Type

• Battery Manufacturers (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

• OEMs (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

EV Busbar Market, by Application Type

• Inside Battery (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

• Outside Battery (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

EV Busbar Market, by Inside Battery Cross-Sectional Area Type

• <35 sq mm (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

• 35-50 sq mm (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

• >50 sq mm (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

EV Busbar Market, by Outside Battery Cross-Sectional Area Type

• <70 sq mm (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

• 70-90 sq mm (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

• >90 sq mm (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

EV Busbar Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)

• Europe (Country Analysis: Germany, France, The UK, Italy, Russia, and the Rest of Europe)

• Asia-Pacific (Country Analysis: Japan, China, India, South Korea, and the Rest of Asia-Pacific)

• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s EV busbar market realities and future market possibilities for the forecast period.

• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.

• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruit available in the market, as well as to formulate growth strategies to expedite their growth process.

• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

• We conducted more than 20 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

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Company Profiling

• Detailed profiling of additional market players (up to three players)
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• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

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