Busbar Trunking Market Size
[170+ Pages Research Report] to surpass USD 12.3 billion by 2032 from USD 5.53 billion in 2021 at a CAGR of 7.5% in the coming years, i.e., 2022-32
The system of distribution of electric power by using copper or aluminum busbars with suitable enclosures and insulation is known as Busbars Trunking system. The system provides a high degree of protection against damages from foreign bodies. Busbars are easy to install and distribute, flexible, have better resistance, reduce the loss of energy, and are more convenient and safer than traditional cables. Busbars are gaining importance for a stable and reliable supply of energy. Busbar Trunking System has lighting, low, medium, and high-power rating. These systems have applications across various verticals such as Industrial, Commercial, Transportation, and Residential.
Market Highlights
Busbar Trunking market is expected to project a notable CAGR of 7.5% in 2032.
Busbar Trunking to surpass USD 12.3 billion by 2032 from USD 5.53 billion in 2021 at a CAGR of 7.5% in the coming years, i.e., 2022-32. Increasing energy demands of manufacturing units, technological advancements, rising number of data centers, stringent government initiatives to save electricity, and growing electrification of developing countries are fueling the growth of Busbar Trunking market.
Busbar Trunking Market: Segments
Copper segment holds the largest market share
Busbar Trunking market is classified on the basis of material into Aluminum, and Copper. Copper segment is dominating the market with the largest market share. Copper busbars have resilience to high temperatures, high conductivity, and a longer lifespans which is driving the growth of the Copper segment. Aluminum segment is expected to grow at a significant rate owing to its lower cost than Copper.
Industrial segment holds the largest market share
Busbar Trunking market is classified on the basis of end-user into Commercial, Industrial, Transportation, Residential, and Others. Industrial segment is dominating the market with the largest share. The growth is attributed to the growing energy consumption, rising demand for a safe supply of electricity, government regulations to save electricity, prevalence of energy conservation practices and rising investments in emerging economies. Furthermore, Commercial segment is expected to grow at a significant rate during the forecast period.
Market Dynamics
Drivers
Growing Demand for Reliable and Safe Power Distribution
Busbar Trunking system has a wide range of applications in various end-use industries such as construction, commercial and residential, as it provides reliable and safe power distribution. Busbars have minimum operating costs and are easy to install which gives it an edge over traditional cables. Increasing energy demands of manufacturing units, technological advancements, rising number of data centers, and stringent government initiatives to save electricity are propelling the growth of Busbar Trunking market.
Economic Growth of Emerging Nations
Rapid industrialization, urbanization, growing energy demands, and prevalence of energy conservation practices have spurred the demand for busbars. Growing electrification of developing countries and rising investments to modernize existing infrastructure will drive the growth of Busbar Trunking market. Furthermore, growing adoption of smart power distribution systems and emergence of green and smart cities will provide enormous growth opportunities for the Busbar Trunking market.
Restraint
Fluctuating Prices of Raw Materials
The constantly changing prices of raw materials such as aluminum and copper are a major hindrance in the growth of Busbar Trunking market. Moreover, the limited benefits availed by small and medium industries are also restraining market growth.
Recent Developments
- In June 2019, A DC-powered distribution system was released by ABB which is known as Onboard Microgrid. It will help small vessels to improve fuel efficiency.
- In June 2019, L&T won a turnkey contract worth for building a power generation project.
Busbar Trunking Market: Key Players
- ABB
- Schneider Electric
- SIEMENS AG
- C&S Electric
- Legrand
- DBTS Industries Sdn Bhd
- Entraco BKS
- Furutec Electrical Sdn Bhd
- Gersan Elektrik A.S.
- Godrej Industries Ltd.
- KYODO KY-TEC Corp
- Larsen & Toubro Limited
- ALFA Technologies Pvt Ltd
- Other Prominent Players
Busbar Trunking Market: Regions
Busbar Trunking market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific is expected to grow at the highest rate during the forecast period. The growth is attributed to growing electricity consumption, flourishing renewable energy sector, urbanization, and industrialization. Furthermore, North America is dominating the market with the highest share owing to the availability of monetary resources and government initiatives to replace traditional cables with busbars.
Impact of Covid-19 on Busbar Trunking Market
Coronavirus pandemic has adversely affected the economies around the globe. Nationwide lockdown regulations were imposed in many countries to control the spread of the virus and social distancing norms were strictly followed by the citizens. Covid-19 negatively affected the Busbar Trunking market. The disruptions in construction and infrastructure projects have hampered the demand of busbars. Moreover, hinderance in the supply chains and procurement of raw materials have delayed the production activities.
Busbar Trunking Market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Busbar Trunking report also contains analysis on:
Busbar Trunking Market Segments:
- By Material
- Aluminum
- Copper
- By Insulation Type
- Air
- Sandwich
- By Power Rating
- Lighting
- Low
- Medium
- High
- By End-User
- Commercial
- Industrial
- Transportation
- Residential
- Others
- Busbar Trunking Market Dynamics
- Busbar Trunking Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
Busbar Trunking Market Report Scope and Segmentation
| Report Attribute | Details |
| Market size value in 2021 | USD 5.53 billion |
| Revenue forecast in 2032 | USD 12.3 billion |
| Growth Rate | CAGR of 7.5% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Quantitative units | Revenue in USD million and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Material, Insulation Type, Power Rating, End-User, and Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Key companies profiled | ABB, Schneider Electric, SIEMENS AG, C&S Electric, Legrand, DBTS Industries Sdn Bhd, Entraco BKS, Furutec Electrical Sdn Bhd, Gersan Elektrik A.S., Godrej Industries Ltd., KYODO KY-TEC Corp, Larsen & Toubro Limited, ALFA Technologies Pvt Ltd., and Other Prominent Players |
Frequently Asked Questions (FAQ):
Busbar Trunking market size was estimated at USD 5.53 billion in 2021 and is expected to reach USD 12.3 billion in 2032.
The system of distribution of electric power by using copper or aluminum busbars with suitable enclosures and insulation is known as Busbars Trunking system. The system provides high degree of protection against damages from foreign bodies.
Copper, and Industrial segment accounted for the largest Busbar Trunking market share.
Key players: ABB, Schneider Electric, SIEMENS AG, C&S Electric, Legrand, DBTS Industries Sdn Bhd, Entraco BKS, Furutec Electrical Sdn Bhd, Gersan Elektrik A.S., Godrej Industries Ltd., KYODO KY-TEC Corp, Larsen & Toubro Limited, ALFA Technologies Pvt Ltd., and Other Prominent Players are the key players in the Busbar Trunking market.
Growing Demand for Reliable and Safe Power Distribution and Economic Growth of Emerging Nations are the factors driving the Busbar Trunking market.
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