Busbar Trunking Systems Global Market Poised for Significant Growth, Projected to Reach $4.70 Billion at a CAGR of 11.9% By 2028

The busbar trunking systems global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Busbar Trunking Systems Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size -
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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Scope Of Busbar Trunking Systems Market
The Business Research Company's reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Busbar Trunking Systems Market Overview

Market Drivers -
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.

Market Trends -
Major companies operating in the busbar trunking systems market are developing epoxy-insulated power busway systems to provide better electrical solutions in the market. Epoxy-insulated power busway systems are electrical distribution systems that utilize epoxy insulation to provide a safe and efficient means of distributing electrical power. For instance, in February 2021, Davis, a Malaysia-based manufacturer of advanced power distribution systems, launched a new version of a maintenance-free epoxy-insulated power busway system to meet the latest power distribution requirements. This system is designed with maintenance-free, robust, reliable, epoxy insulated, low impedance, and modular design. It was introduced to meet the latest power distribution specification requirements. The new version of the busway system is expected to provide better performance, efficiency, and reliability in power distribution. 

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

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Regional Insights -
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.

Key Companies -
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

Table of Contents
1. Executive Summary
2. Busbar Trunking Systems Market Report Structure
3. Busbar Trunking Systems Market Trends And Strategies
4. Busbar Trunking Systems Market – Macro Economic Scenario
5. Busbar Trunking Systems Market Size And Growth
…..
33. Global Busbar Trunking Systems Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Busbar Trunking Systems Market

35. Busbar Trunking Systems Market Future Outlook and Potential Analysis

36. Appendix

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