PUBLISHER: The Business Research Company | PRODUCT CODE: 1499803
PUBLISHER: The Business Research Company | PRODUCT CODE: 1499803
Busbar trunking systems represent a specialized electrical power distribution solution employing busbars to efficiently distribute power within buildings or industrial settings. These systems are engineered to deliver reliable and safe power distribution to medium-sized loads in both commercial and industrial sectors.
The primary materials used in busbar trunking systems are aluminum and copper. Aluminum, a metallic element denoted by the symbol Al and atomic number 13, is widely utilized in these systems. Busbar trunking systems accommodate various power ratings, including lighting, low voltage, medium voltage, and high voltage applications. They find application across diverse end-user industries such as transportation, residential, commercial, and industrial sectors.
The busbar trunking systems market research report is one of a series of new reports from The Business Research Company that provides busbar trunking systems market statistics, including busbar trunking systems industry global market size, regional shares, competitors with a busbar trunking systems market share, detailed busbar trunking systems market segments, market trends and opportunities, and any further data you may need to thrive in the busbar trunking systems industry. This busbar trunking systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The busbar trunking systems market size has grown rapidly in recent years. It will grow from $2.69 billion in 2023 to $2.99 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. The growth observed in the historic period can be attributed to several factors, including a heightened demand for stable and reliable power distribution, the increased electrification efforts in developing nations, the advantages offered by busbar trunking systems compared to conventional wiring methods, the proliferation of renewable energy initiatives, and the rapid pace of urbanization and construction activities.
The busbar trunking systems market size is expected to see rapid growth in the next few years. It will grow to $4.70 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The anticipated growth in the forecast period can be linked to several factors, including the rapid expansion of construction projects, increasing electricity demand, ongoing infrastructure development, and industrialization efforts, as well as the escalating capacity of solar power installations and the modernization of existing electrical infrastructure. Key trends expected in this period encompass the heightened adoption of smart busbar trunking solutions, integration with building management systems, the adoption of modular and scalable designs, and the digitization of installation and maintenance processes.
The anticipated surge in construction activities is poised to act as a driving force behind the growth of the busbar trunking systems market in the foreseeable future. Construction activity encompasses the physical erection of various structures, spanning from residential dwellings to industrial facilities, roads, and bridges. This upswing in construction endeavors is underpinned by a confluence of factors including demographic shifts, economic dynamics, technological innovations, policy interventions, and environmental imperatives. Busbar trunking systems serve as a pivotal component in streamlining electrical power distribution within construction sites and buildings. By obviating the need for extensive cables, conduits, and distribution boards, these systems contribute to cost savings in terms of both labor and materials. For instance, in February 2022, as per the report disseminated by the Office for National Statistics, the construction sector in the UK witnessed a noteworthy annual growth rate of 12.7% in 2021. Moreover, December 2021 marked a 2.0% uptick in monthly construction output, primarily propelled by a 3.5% surge in new construction endeavors. Furthermore, the industry's quarterly production experienced a 1.0% expansion in Q4 2021 compared to Q3, attributable to growth in both new construction projects (1.1%) and repair and maintenance activities (0.8%). Consequently, the accelerated pace of construction activities serves as a catalyst for the expansion of the busbar trunking systems market.
Leading players within the busbar trunking systems domain are actively engaged in the development of epoxy-insulated power busway systems, aiming to offer enhanced electrical solutions to the market. These systems, characterized by their utilization of epoxy insulation, provide a safe and efficient means of distributing electrical power. For instance, in February 2021, Davis, a Malaysia-based manufacturer specializing in advanced power distribution systems, unveiled an upgraded version of its maintenance-free epoxy-insulated power busway system to cater to evolving power distribution requirements. Engineered with attributes such as maintenance-free operation, robustness, reliability, low impedance, and a modular design, this system is tailored to align with the latest specifications for power distribution. Expected to deliver superior performance, efficiency, and reliability in power distribution applications, the new iteration of the busway system stands poised to meet the evolving needs of the market.
In November 2021, Vertiv Holdings Co., a key player in the US critical infrastructure and data center services sector, completed the acquisition of E&I Engineering Ireland Limited for an undisclosed sum. This strategic move is anticipated to substantially broaden Vertiv's product portfolio, positioning it as a top-tier independent supplier of switchgear, busway, and modular power solutions. E&I Engineering Ireland Limited, headquartered in Ireland, specializes in the manufacturing of busbar trunking systems.
Major companies operating in the busbar trunking systems market are Siemens AG, ALFA Technologies Pvt. Ltd., Schneider Electric SE, ABB Ltd., Eaton Corporation Plc, C&S Electric Limited, TE Connectivity, DBTS Industries Sdn Bhd, Molex LLC, Legrand S.A., WEG S.A., Phoenix Contact, LS Cable & System Ltd., Rittal GmbH & Co. KG, Hager Group, Lapp Group, ARJ Holding LLC, E&I Engineering Group, Anord Mardix Inc., Vass Electrical Industries, Terasaki Electric Co. Ltd., Power Plug Busduct Sdn Bhd, Godrej & Boyce Mfg. Co. Ltd., Vilfer Electric
North America was the largest region in the busbar trunking systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the busbar trunking systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the busbar trunking systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The busbar trunking systems market consists of sales of trolley busbar systems, cable trays, and support systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Busbar Trunking Systems Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on busbar trunking systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for busbar trunking systems? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The busbar trunking systems market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.