The automotive busbar market is estimated to generate USD 41,266.0 thousand in 2023, which will touch USD 168,858.1 thousand, propelling at a 21.4% compound annual growth rate, by 2030.

The progression of this industry is primarily because of the mounting advancement as well as acceptance of EVs, coupled with the operational advantages and low cost of busbars over cables.

Moreover, with the electrification of vehicles, power & inverter modules have been experiencing advancements and modifications in terms of their manufacturing, design, and integration with additional systems.

The low category, on the basis of power rating, is leading the industry, with approximately 84% share, in 2023. This can be because low-power busbars are extensively being employed in electric vehicles' battery components and pack interconnectedness and in electric vehicle charging stations.

In addition, as the usage of these busbars to the aforementioned extents is more than DC/AC converters as well as powertrain inverters, where high-power busbars are usually utilized, thus, the category is leading.

The copper category, on the basis of conductor, is leading the automotive busbar market, with an 84% share, in 2023. This will be because copper busbars have lower voltage drop, electrical resistance, and energy loss, as well as a greater ampacity than their aluminum counterpart.

Likewise, copper is utilized more generally for electronic cables, building wires, and various other products that need high conductivity.

The aluminum category, on the basis of conductor, will progress at a higher rate, of approximately 24%, in the years to come. This is because aluminum is more inexpensive and lighter as compared to copper, and it provides less electric conductivity than copper.

Moreover, as electric vehicle makers are trying to reduce the prices of vehicles without harming their quality, aluminum busbars are replacing the copper alternatives increasingly.

North America is likely to propel at a significant rate in the years to come. This is primarily because of the government's initiatives to reduce carbon emissions as well as the increase in the acceptance of EVs in this region.

It is because of the mounting development as well as acceptance of EVs, the automotive busbar industry will continue to grow in the years to come.

The Indian residential diesel genset market will grow at a CAGR of 7.1% during 2020-2030, due to the increasing construction of residential units and the surging need for hybrid, inverter-based, and bi-fuel generators. In addition, the rising incidence of power cuts in the country will also attribute to the market growth in the coming years. According to P&S Intelligence, the industry was valued at $91.3 million in 2020, and it will generate $184.9 million revenue by 2030.

The increasing number of residential buildings, owing to the vast population and rapid urbanization, will drive the demand for residential diesel gensets in India. For instance, according to the 2022 World Population Review, the number of people in India will grow from 1.4 billion in 2020 to 1.6 billion by 2050. Further, as per the World Bank, the urban population of the country grew from 471,031,529 in 2019 to 481,980,332 in 2020. The population surge and rapid urbanization have encouraged government and industrialists to encourage housing units, which deploy such generator systems in abundance.

In recent years, the rising preference for high-power-rating gensets over low-power-rating gensets, owing to the surging electricity demand, has become a prominent trend in the Indian residential diesel genset market. Airports, real estate spaces, and data centers of the country are the prominent users of high-power-rating gensets. The increasing need for electricity can be attributed to the vast population of the country.

The stationary category, within the type segment, accounted for a larger share in the Indian residential diesel genset industry in 2020, and it is also expected to retain its dominance throughout this decade. The leading position of this category can be majorly owed to the continuous electricity supply offered by stationery diesel gensets. The deployment of these generator systems, therefore, ensures uninterrupted operations in residential settings. Owing to these advantages, the market in this category is also expected to display higher growth in the coming years.

Currently, the Indian residential diesel genset industry is fragmented, with the presence of a large number of players, such as Cooper Corporation Pvt. Ltd., Mahindra Powerol Ltd., Ashok Leyland Limited, Kirloskar Oil Engines Limited, Tractors and Farm Equipment Limited, Greaves Cotton Limited, Caterpillar Inc., FG Wilson, Kohler Power India Ltd., and Cummins India Ltd. Nowadays, market players are actively focusing on product launches and geographical expansions to gain a competitive edge.

Geographically, the Tamil Nadu residential diesel genset market is expected to register the fastest growth in the coming years in India. This can be primarily credited to the burgeoning demand for housing units in the state. The total population of Tamil Nadu will grow from 76,402,000 in 2021 to 77,546,000 by 2026 and 78,082,000 by 2031, as per the National Commission on Population Ministry of Health and Family Welfare. The number of men and women will surge from 38,165,000 in 2021 to 38,654,000 by 2026 and 38,237,000 in 2021 to 38,892,000 by 2026, respectively.