Busbar Trunking System Market Forecast 2034: Reaching USD 16.9 Billion with a 6.5% CAGR

The global busbar trunking system market was valued at US$ 8.4 billion in 2023 and is projected to grow at a CAGR of 6.5% from 2024 to 2034, reaching US$ 16.9 billion by the end of 2034.

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Analyst Viewpoint

The rise in demand for flexible and reliable electrical distribution systems is boosting the busbar trunking system market revenue. These systems reduce the risk of power outages and equipment failures. The surge in focus on sustainability in power generation and consumption is also augmenting market value, as busbar trunking systems are a resource-saving, reusable, and recyclable alternative to conventional cables.

Key players in the market are offering totally enclosed products with non-ventilated designs for power transmission and distribution in buildings and various industries. These systems are fully insulated using halogen-free fire retardant insulation.

Market Introduction

A busbar trunking system (BBT) is an enclosed electrical distribution system comprising solid conductors separated by insulating materials. It transports current from one point to another. The three main types of BBTs available in the global market are compact air, sandwich, and cast resin.

Compact Air BBT: Employs air for insulation between conductors, resulting in a larger busduct size compared to a sandwich busduct.
Sandwich BBT: Conductors are individually insulated and mounted to resemble a sandwich of conductors.
Cast Resin Busway: A high-performance low-voltage busbar system used in outdoor environments, harbors, tunnels, and chemical plants.
BBTs are preferred over other electrical power distribution solutions, such as cables, due to their efficiency, ease of installation, and reduced manpower requirements. They serve as distribution panels at different stages, offering significant on-site cost reductions and flexibility for future modifications.

Key Market Drivers

Demand for Flexible and Reliable Electrical Distribution Systems:
Busbar trunking systems offer several advantages over cable systems, such as reduced on-site installation time, increased design flexibility, and enhanced protection through integrated protective devices. These benefits make them ideal for industrial and commercial sites, contributing to market growth.
Focus on Sustainability in Power Generation and Consumption:
Governments globally are emphasizing sustainability in the energy sector, heavily investing in renewable energy sources. The rise in renewable electricity capacities and the focus on distributed solar and wind power generation are driving the adoption of busway systems, boosting market demand.

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Regional Outlook

Asia Pacific:

Asia Pacific held the largest share of the busbar trunking system market in 2023, driven by the adoption of renewable energy sources. India, for example, has seen a significant increase in installed solar energy capacity, which stands at 82.63 GW as of April 2024.

Europe:

Investment in modernizing electricity grids is driving the market in Europe. E.ON, a Germany-based energy network operator, announced an investment target of €42 billion to modernize Europe's energy infrastructure between 2024 and 2028.

Market Segmentation

By Material:

Copper
Aluminum3

By Insulation Type:

Compact Air
Sandwich
Cast Resin

By Power:

Low Voltage
Medium Voltage
High Voltage

By End-use:

Industrial
Transportation
Residential
Commercial

Regions Covered:

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Countries Covered:

U.S.
Canada
Germany
U.K.
France
Italy
Russia & CIS
Japan
China
India
ASEAN
Brazil
Mexico
South Africa
GCC

Key Players

Key players in the busbar trunking system market include ABB, C&S Electric Limited, Eaton, Schneider Electric, LARSEN & TOUBRO LIMITED, Legrand, Godrej & Boyce Mfg. Co. Ltd., and EAE Group. These companies are focusing on offering reliable and efficient products with sandwich construction and superior performance, ensuring high electrical efficiency, low voltage drop, and high mechanical strength.

Key Developments:

ABB: In April 2024, ABB made a minority investment in GridBeyond, a provider of energy management solutions based on AI and data science, to optimize distributed energy resources and industrial loads.
Eaton: In March 2024, Eaton received two grants from the Czech Republic to participate in innovative mobility projects, including the design and development of an electrified off-road truck and a new power distribution unit (PDU) and DC/DC converter (200 kW) for hydrogen fuel cell-powered trucks.

Market Snapshot

Market Size in 2023: US$ 8.4 Bn
Market Forecast (Value) in 2034: US$ 16.9 Bn
Growth Rate (CAGR): 6.5%
Forecast Period: 2024-2034
Quantitative Units: US$ Bn for Value and KV for Volume

Competition Landscape:

Market share analysis by company (2023)
Company profiles include an overview, product portfolio, sales footprint, key subsidiaries or distributors, strategy, recent developments, and key financials

Conclusion

The busbar trunking system market is poised for significant growth, driven by the increasing demand for flexible and reliable electrical distribution systems and the global focus on sustainability in power generation and consumption. Asia Pacific leads the market, supported by substantial investments in renewable energy and modernizing electricity grids. Key players are innovating to offer advanced and efficient products, ensuring continued market expansion.

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