Automotive Copper Busbar Market Size, Share & Growth [2030]

Automotive Copper Busbar Market Size, Share & Growth [2030]

Segments - Automotive Copper Busbar Market by Type (Flat Strips and Solid Bars), Application (Passenger Cars and Commercial Vehicles), and Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022 – 2030

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Author : Akash Vedpathak
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Fact-checked by : Vineet Pandey
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Editor : Shruti Bhat

Upcoming | Report ID :AL-5377 | 4.7 Rating | 60 Reviews | 168 Pages | Format : PDF Excel PPT

Report Description


Automotive Copper Busbar Market Outlook

The global automotive copper busbar market size was valued at USD 335.7 Million in 2021 and is expected to reach USD 666.5 Million in 2030, expanding at a CAGR of 7.9% during the forecast period.

Busbars are metal bars used to carry current. These busbars are typically made from copper or aluminum. Their main purpose is to conduct a substantial electric current and is housed inside switchgear, panel boards, or busways. It is a type of electrical junction where all incoming and outgoing electrical currents meet. In the event of a fault, the circuit breaker trips, and the faulty section of the busbar easily disconnects from the circuit.

 

Automotive Copper Busbar Market Market Outlook

These attributes make busbars ideal for some high-voltage connections in electric vehicles (EVs) and a key component of the electrical architectures of vehicles. Copper is a common conductive metal used in busbars and many electrical utilities around the world. Copper is chosen for its resilience to high temperatures, providing extra security during short-circuit situations.

Copper has several advantages over other materials such as high conductivity, resistance to damage, high performance in clamped joints, low co-efficiency of linear expansion, long lifespan, high recovery value, and high modulus of elasticity.

Automotive Copper Busbar Market Macro-economic Factors

GDP

GDP is a critical indicator used to measure the size and performance of an economy. High GDP indicates high per capita income and consumer spending. Copper busbars are an integral part of the electric vehicle system. Countries with high-income levels have an inclination toward electric vehicles, as they are considerably less costly to operate than conventional vehicles.

The shift in preference of the population from conventional vehicles to electric vehicles is expected to have more money for the government to spend on other sectors of the economy, such as housing and services. Spending in these sectors keeps more money within the economy and encourages job development in industries that are not directly related to the production of electric vehicles.

Inflation

The global average inflation rate, with respect to consumer price percentage, is around 6.82% in 2022. The primary cause of the current rise in inflation is attributed to the supply shocks brought on by the war in Europe. Thus, inflation is expected to impede the flexible busbar market.

Production & Supply

The supply and demand for copper busbars are rising. The bulk of the total production is consumed by industries such as automotive, oil & gas, power, marine, and semiconductor industries. The pandemic exposed supply chain flaws and highlighted difficulties in the global supply chain and the significance of maintaining a stable supply chain to overcome trade barriers. The pandemic caused lockdowns in many countries, which significantly reduced export and import.

R&D

Increasing investments from key players for R&D activities and a rising focus on product innovations are expected to boost the demand for automotive copper busbars. Major market players in almost every industry rely on the development of innovative products.

Some of the key companies in the market have previously worked together to launch products to increase their presence and expand their businesses. For example, in May 2019, Zhejiang RHI Electric Co., Ltd. planned to use robots to perform busbar PVC insulation and produce copper busbars.

Automotive Copper Busbar Market  Dynamics

Major Drivers

Increasing demand for copper busbars in automotive applications

Increasing demand for copper busbars in automotive applications is expected to drive the market during the forecast period, as copper busbars are used extensively in battery modules of EVs for power distribution, as copper has higher conductivity than other conductive materials.

Copper provides such as low electrical and thermal resistance, high mechanical strength in tension, high resistance to fatigue failure, ease of fabrication, low electrical resistance of surface films, and high resistance to corrosion.

Thus, copper busbars are preferred as opposed to aluminum. Automotive copper busbars are used in hybrid and fuel cell vehicles, transformers, and charging stations. Automotive copper busbars are particularly durable and exceptionally good conductors having a high threshold for damage due to high-temperature resistance, which makes copper busbars suitable for automotive applications.


Rising adoption of copper busbars over cables

The rising adoption of copper busbars over cables is expected to drive the market during the forecast period owing to the safety features of copper. Copper busbars are fitted with steel casing, as they have low chances of wear, and are less likely to be damaged by rodents. This makes them a safer choice than cables.

Moreover, increasing awareness regarding the energy efficiency and cost-effectiveness of busbars drives their adoption over conventional cables, as busbars reduce internal material handling and manufacturing costs by reducing assembly time.

Thus, automobile manufacturing companies are inclined toward high usage of copper busbars over conventional cables, which has propelled the preference for busbars in motor control center applications, thus driving the market.

Existing Restraint

Availability of substitutes such as aluminum or brass

Rising usage of substitutes such as aluminum busbars in automotive is expected to hamper the market during the forecast period as aluminum busbars are widely used in automotive due to their resistivity properties and it is also cheaper than copper.

Aluminum is more electrically efficient than copper because it has a density 70% lower than copper, making it ideal for applications where the size of the busbar is not a factor. The aluminum costs low and is flexible to use. In terms of safety, the resistance of aluminum is higher than that of copper.

It decreases the vibration and gets rid of short circuits in vehicles and can avoid accidents. However, copper performs better than aluminum when measured in conductivity but it has less adoption rate in automotive as it has low performance in electrical resistance, reduction in voltage drop, reduction in power loss, and high simplicity which influences the electrical effectiveness of the busbar trunking system.


High volatility in copper prices

Copper was a highly preferred conductor for busbars, due to its high ductility, tensile strength, and thermal expansion properties. These properties made copper suitable for automotive busbars. However, the price of copper is volatile and is affected by consumer demand, among other political and economic factors. Aluminum conductors are becoming common in the busbar industry in recent years, as it provides certain advantages in terms of price and weight than copper.

Moreover, high initial investment requirements and costly production processes of copper create entry barriers and restrict small enterprises from entering the market, which benefits existing market players and helps them to retain their market share and make profits. These factors restrain the growth of the market.

Emerging Opportunity

Rapid electrification of cars has occurred in recent years. Copper busbars are used in electric vehicle systems for efficient power distribution. They take up less space and are effective in electric vehicle systems as both hybrid and electric vehicles rely on power inverters, high-capacity batteries, powerful electric motor drives, and efficient power delivery from the charging source to the battery and between the vehicles.

The issues of successfully integrating busbars in tight-spaced E-powertrain or Battery Management Systems (BMS) have become increasingly relevant as power systems become fast and complicated. This is driving the demand for high configuration and production flexibility for both big and small-footprint busbar interconnections.

The busbar improves the delivery of electricity by reducing energy loss and is utilized in accordance with the various configurations and needs of passenger automobiles and commercial vehicles. Increasing electrification of vehicles and the growing demand for electric vehicles are expected to drive the market in the future years. Furthermore, rising income levels and living standards are expected to increase the demand for vehicles, which is expected to drive the copper busbar market.

Scope of Automotive Copper Busbar Market Report

The report on the Global Automotive Copper Busbar Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Automotive Copper Busbar Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast

Base Year

2021

Historic Data

2015-2020

Forecast Period

2022–2030

Segmentation

By Type (Flat Strips and Solid Bars), Application (Passenger Cars and Commercial Vehicles)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered

AMERICAN POWER CONNECTION SYSTEMS, INC., Storm Power Components, Connor Manufacturing Services, Inc, Oriental Copper Co.,ltd, ILF Ltd, Brar Elettromeccanica SpA, Rogers Corporation, , LLC, Zhejiang RHI Electric Co.,ltd, WENZHOU YIHUA CONNECTOR CO., LTD

Automotive Copper Busbar Market Segment Insights

The Global Automotive Copper Busbar Market is segmented on the basis of type, application, and region.

Type Segment Analysis

In terms of type, Automotive Copper Busbar Market is segmented into flat strips and solid bars. Flat strips are expected to dominate the market in 2021, as they require less place and provide excellent thermal properties.

Automotive Copper Busbar Market Type

Application Segment Analysis

On the basis of application, the Automotive Copper Busbar market is segmented into passenger cars and commercial vehicles. The passenger cars segment is expected to hold a substantial share of the market during the forecast due to the rising demand for copper busbars, especially solid bars, in passenger cars.

Automotive Copper Busbar Market Application

Regional Analysis

Based on regions, the Automotive Copper Busbar Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is growing at a rapid pace during the forecast due to the rising demand for electric vehicles in the region. Asia Pacific is a manufacturing hub for EVs.

Automotive Copper Busbar Market Region

Key Benefits for Industry Participants & Stakeholders

  • In-depth Analysis of the global Automotive Copper Busbar Market
  • Historical, Current, and Projected Market Size in terms of Value and Volume
  • Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
  • Industry Drivers, Restraints, and Opportunities Covered in the Study
  • Recent Industry Trends and Developments
  • Competitive Landscape & Strategies of Key Players
  • Neutral Perspective on Global Automotive Copper Busbar Market

Segments

Type

  • Flat Strips
  • Solid Bars

Application

  • Passenger Cars
  • Commercial Vehicles

Regions

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Key Players

Competitive Landscape

Top players in the market include AMERICAN POWER CONNECTION SYSTEMS, INC., Storm Power Components, Connor Manufacturing Services, Inc, Oriental Copper Co.,ltd, ILF Ltd, Brar Elettromeccanica SpA, Rogers Corporation, LLC, Zhejiang RHI Electric Co.,ltd, and WENZHOU YIHUA CONNECTOR CO., LTD.

These companies are considered key players in the automotive copper busbar market based on their revenue, product offerings, and regional presence.The players are adopting key strategies such as acquisition, collaborations, and geographical expansion where potential opportunities for the Automotive Copper Busbar Market.

Automotive Copper Busbar Market Key Players

Frequently Asked Questions

Additional company profiles can be provided on request. For a discussion related to above findings, click Speak to Analyst

Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.

Increasing demand for copper busbars in automotive applications, and the Rising adoption of copper busbars over cables, are expected to drive the market growth during the forecast period.

According to this Growth Market Reports, the Global Automotive Copper Busbar Market was valued at USD 335.7 Mn in 2021 and is expected to reach USD 666.5 Mn in 2030, expanding at a CAGR of 7.9% during the forecast period.

The major types of automotive copper busbars are flat strips and solid bars.

Factors such as GDP, Inflation, Production & Supply, and R&D are analyzed in the final report.

Top players in the market include AMERICAN POWER CONNECTION SYSTEMS, INC., Storm Power Components, Connor Manufacturing Services, Inc, Oriental Copper Co.,ltd, ILF Ltd, Brar Elettromeccanica SpA, Rogers Corporation, , LLC, Zhejiang RHI Electric Co.,ltd, and WENZHOU YIHUA CONNECTOR CO., LTD.

The market is expected to witness a significant decrease in growth between 2019 and 2020 owing to the COVID 19 pandemic in the Automotive Copper Busbar Market.

In addition to market size (in US$ Million), company market share (in % for the base year 2021), current and future market trends, and technology landscape are provided.

The base year considered for the global Automotive Copper Busbar Market report is 2021. The complete analysis period is 2015 to 2030, wherein, 2015 to 2020 are the historic years, and the forecast is provided from 2022 to 2030.

Table Of Content

Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Automotive Copper Busbar Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Automotive Copper Busbar Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Automotive Copper Busbar Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Automotive Copper Busbar Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Automotive Copper Busbar Market Size & Forecast, 2016-2031
      4.5.1 Automotive Copper Busbar Market Size and Y-o-Y Growth
      4.5.2 Automotive Copper Busbar Market Absolute $ Opportunity
Chapter 5 Global Automotive Copper Busbar Market Analysis and Forecast By Type
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Type
      5.1.2 Basis Point Share (BPS) Analysis By Type
      5.1.3 Absolute $ Opportunity Assessment By Type
   5.2 Automotive Copper Busbar Market Size Forecast By Type
      5.2.1 Flat Strips
      5.2.2 Solid Bars
   5.3 Market Attractiveness Analysis By Type
Chapter 6 Global Automotive Copper Busbar Market Analysis and Forecast By Application
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By Application
      6.1.2 Basis Point Share (BPS) Analysis By Application
      6.1.3 Absolute $ Opportunity Assessment By Application
   6.2 Automotive Copper Busbar Market Size Forecast By Application
      6.2.1 Passenger Cars
      6.2.2 Commercial Vehicles
   6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Automotive Copper Busbar Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Automotive Copper Busbar Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region

Chapter 8 Coronavirus Disease (COVID-19) Impact
   8.1 Introduction
   8.2 Current & Future Impact Analysis
   8.3 Economic Impact Analysis
   8.4 Government Policies
   8.5 Investment Scenario
Chapter 9 North America Automotive Copper Busbar Analysis and Forecast
   9.1 Introduction
   9.2 North America Automotive Copper Busbar Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Automotive Copper Busbar Market Size Forecast By Type
      9.6.1 Flat Strips
      9.6.2 Solid Bars
   9.7 Basis Point Share (BPS) Analysis By Type
   9.8 Absolute $ Opportunity Assessment By Type
   9.9 Market Attractiveness Analysis By Type
   9.10 North America Automotive Copper Busbar Market Size Forecast By Application
      9.10.1 Passenger Cars
      9.10.2 Commercial Vehicles
   9.11 Basis Point Share (BPS) Analysis By Application
   9.12 Absolute $ Opportunity Assessment By Application
   9.13 Market Attractiveness Analysis By Application
Chapter 10 Europe Automotive Copper Busbar Analysis and Forecast
   10.1 Introduction
   10.2 Europe Automotive Copper Busbar Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Automotive Copper Busbar Market Size Forecast By Type
      10.6.1 Flat Strips
      10.6.2 Solid Bars
   10.7 Basis Point Share (BPS) Analysis By Type
   10.8 Absolute $ Opportunity Assessment By Type
   10.9 Market Attractiveness Analysis By Type
   10.10 Europe Automotive Copper Busbar Market Size Forecast By Application
      10.10.1 Passenger Cars
      10.10.2 Commercial Vehicles
   10.11 Basis Point Share (BPS) Analysis By Application
   10.12 Absolute $ Opportunity Assessment By Application
   10.13 Market Attractiveness Analysis By Application
Chapter 11 Asia Pacific Automotive Copper Busbar Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Automotive Copper Busbar Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Automotive Copper Busbar Market Size Forecast By Type
      11.6.1 Flat Strips
      11.6.2 Solid Bars
   11.7 Basis Point Share (BPS) Analysis By Type
   11.8 Absolute $ Opportunity Assessment By Type
   11.9 Market Attractiveness Analysis By Type
   11.10 Asia Pacific Automotive Copper Busbar Market Size Forecast By Application
      11.10.1 Passenger Cars
      11.10.2 Commercial Vehicles
   11.11 Basis Point Share (BPS) Analysis By Application
   11.12 Absolute $ Opportunity Assessment By Application
   11.13 Market Attractiveness Analysis By Application
Chapter 12 Latin America Automotive Copper Busbar Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Automotive Copper Busbar Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Automotive Copper Busbar Market Size Forecast By Type
      12.6.1 Flat Strips
      12.6.2 Solid Bars
   12.7 Basis Point Share (BPS) Analysis By Type
   12.8 Absolute $ Opportunity Assessment By Type
   12.9 Market Attractiveness Analysis By Type
   12.10 Latin America Automotive Copper Busbar Market Size Forecast By Application
      12.10.1 Passenger Cars
      12.10.2 Commercial Vehicles
   12.11 Basis Point Share (BPS) Analysis By Application
   12.12 Absolute $ Opportunity Assessment By Application
   12.13 Market Attractiveness Analysis By Application
Chapter 13 Middle East & Africa (MEA) Automotive Copper Busbar Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Automotive Copper Busbar Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Automotive Copper Busbar Market Size Forecast By Type
      13.6.1 Flat Strips
      13.6.2 Solid Bars
   13.7 Basis Point Share (BPS) Analysis By Type
   13.8 Absolute $ Opportunity Assessment By Type
   13.9 Market Attractiveness Analysis By Type
   13.10 Middle East & Africa (MEA) Automotive Copper Busbar Market Size Forecast By Application
      13.10.1 Passenger Cars
      13.10.2 Commercial Vehicles
   13.11 Basis Point Share (BPS) Analysis By Application
   13.12 Absolute $ Opportunity Assessment By Application
   13.13 Market Attractiveness Analysis By Application
Chapter 14 Competition Landscape
   14.1 Automotive Copper Busbar Market: Competitive Dashboard
   14.2 Global Automotive Copper Busbar Market: Market Share Analysis, 2022
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
      14.3.1 AMERICAN POWER CONNECTION SYSTEMS, INC.
      14.3.2 Storm Power Components
      14.3.3 Connor Manufacturing Services, Inc
      14.3.4 Oriental Copper Co.,ltd
      14.3.5 ILF Ltd
      14.3.6 Brar Elettromeccanica SpA
      14.3.7 Rogers Corporation
      14.3.8 Molex, LLC
      14.3.9 Zhejiang RHI Electric Co.,ltd
      14.3.10 WENZHOU YIHUA CONNECTOR CO., LTD

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