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Copper busbar for automotive electrical system is used to make complex power distribution easier and flexible. It optimizes power delivery by minimizing energy loss and offers low electrical & thermal resistance. Available in the form of flat strips and solid bars, it can be applied to commercial vehicles and passenger cars as per the desired configurations. The growing electric vehicle sales are bolstering the product demand across the globe. The rising technological advancements in electric vehicles for improved range and speed further surge the demand for copper busbar for automotive electrical system.
The recent coronavirus pandemic resulted in a stagnated growth of this industry. The severe supply chain disruptions witnessed during the pandemic gravely impacted the industry’s development. The demand for copper busbar for automotive electrical systems declined due to low vehicle production and sales. The closure of manufacturing facilities and raw material shortages affected the product demand, resulting in diminishing industry expansion. However, the easing of lockdown restrictions and improving economic conditions across several nations are helping the industry’s expansion. Moreover, EV launches by major manufacturers are bolstering the demand for copper busbar for automotive electrical systems. As per Business Research Insights, the global copper busbar for automotive electrical system market size is predicted to hit USD 624.2 million by 2026. Increasing electric vehicle sales and rising vehicle electrification trends are likely to foster growth across the industry.
Business Research Insights Identifies the Following as the Top 5 Leading Copper Busbar for Automotive Electrical System Companies:
1. Storm Power Components
Founded in 1990 and headquartered in Decatur, TN, U.S., the company was established with the aim of servicing electrical equipment manufacturers and now has emerged as one of the foremost busbar suppliers in the U.S. Storm Power Components is a globally pioneering manufacturer of insulated and electroplated busbars. A few of the prominent products offered by the company include flexible braided connectors, custom busbars, laminated busbars, ground bars & ground bar kits, and standoff insulators.
2. Oriental Copper
Based in Thailand and founded in 1994, Oriental Copper is a globally renowned designer and producer of high conductivity copper busbars and copper fabricated products. Using state-of-the-art technologies, the company aims to be more dynamic and to provide superior quality products to its clients. A few of the company’s product offerings include annealed bars, anodes, commutator bars, copper hollow conductors, special shapes for mould makers, rods and profiles, and high conductivity copper busbar ETP/OF grade.
3. APCSI
American Power Connection Systems Inc. (APCSI) was founded in 1992 in Bay City, Michigan, U.S. The company engages in custom-designed laminated shunts, cables, and busbars. The company is certified by the American Welding Society and specializes in all manufacturing tasks from tapping, metal sawing, and punching to plating, laminating, and assembling.
4. Schneider Electric
This French multinational company was founded in 1836 and is headquartered in Rueil-Malmaison, France. The company provides energy and automation digital solutions for sustainability and efficiency across industries, data centers, buildings, and homes. Using real-time automation, energy technologies, services and software, the company offers services such as smart grid service, sustainability services, and global field services.
5. Zhejiang RHI Electric
Founded in 1991 and located in Zhejiang Province, China, this company dominates China’s industrial market and specializes in the research & development and production of soft PVC dipping cover and new energy battery connection accessories. The company emphasizes sustainable development and has reached international environmental and advanced levels.
The automotive industry is swiftly expanding, and the proliferation of electric vehicles’ demand surges the demand for copper busbar for automotive electrical systems. The major companies operating in the cutthroat competition emphasize strategic acquisitions, technological advancements, and collaborations to amplify their growth prospects. They are heavily investing in research & development activities to launch innovative and advanced products. The mounting electric vehicles and growing vehicle electrification trends are projected to flourish the growth for the industry. Additionally, improving income levels & living standards and increasing globalization & industrialization are expected to accelerate the demand for passenger cars and commercial vehicles, thereby strengthening the industry’s expansion.