Overview and Scope
Busbar trunking systems are a type of electrical power distribution system that uses busbars to distribute electrical power within a building or industrial facility. These systems are designed to provide efficient, reliable, and safe power distribution to medium-sized loads in buildings and industrial sectors.
Sizing and Forecast
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 in the historic period can be attributed to increased demand for a stable and reliable supply of power distribution, expanded electrification of developing countries, benefits over conventional wiring systems, growth in renewable energy projects, rapid 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 growth in the forecast period can be attributed to rapid construction activities, growing demand for electricity, growing infrastructure development and industrialization, rising solar power capacity, modernization of existing electrical infrastructure. Major trends in the forecast period include increased adoption of smart busbar trunking, integration with building management systems, modular and scalable designs, modular and scalable designs and digitization of installation and maintenance processes.
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Segmentation & Regional Insights
The busbar trunking systems market covered in this report is segmented –
1) By Material: Aluminum, Copper
2) By Power Rating: Lighting, Low Voltage, Medium Voltage, High Voltage
3) By End-User: Transportation, Residential, Commercial, Industrial
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.
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Major Driver Impacting Market Growth
The rapid construction activities are expected to propel the growth of the busbar trunking systems market going forward. Construction activity refers to building physical structures, such as houses, factories, roads, and bridges. The combination of demographic trends, economic factors, technological advancements, policy initiatives, and environmental considerations contributes to the rise in construction activities globally. Busbar trunking systems streamline electrical power distribution in buildings and construction sites, eliminating the requirement for numerous cables, conduits, and distribution boards, thereby reducing labor and material expenses. For instance, in February 2022, according to the report published by the Office for National Statistics, a UK-based administrative office of the United Kingdom Statistics Authority, the construction sector experienced a remarkable annual growth of 12.7% in 2021, with a 2.0% increase in monthly construction output in December 2021 primarily attributed to a rise in new work by 3.5%. Furthermore, the industry’s quarterly production saw a 1.0% increase in Q4 2021 compared to Q3, driven by both new work (1.1%) and repair and maintenance (0.8%). Therefore, the rapid construction activities are driving the growth of the busbar trunking systems market.
Key Industry Players
Major companies operating in the busbar trunking systems market report 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
The busbar trunking systems market report table of contents includes:
1. Executive Summary
2. Busbar Trunking Systems Market Characteristics
3. Busbar Trunking Systems Market Trends And Strategies
4. Busbar Trunking Systems Market – Macro Economic Scenario
5. Global Busbar Trunking Systems Market Size and Growth
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31. Global Busbar Trunking Systems Market Competitive Benchmarking
32. Global Busbar Trunking Systems Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Busbar Trunking Systems Market
34. Busbar Trunking Systems Market Future Outlook and Potential Analysis
35. Appendix
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