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Busway-Bus Duct Market is growing at a CAGR of 5.5% and is projected to reach $21 billion by 2031
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Busway-bus duct systems are categorized into three primary types: isolated phase bus duct, segregated phase bus duct, and non-segregated phase bus duct. Among these, the non-segregated phase bus duct segment held the largest market share in 2021. This dominance is attributed to the growing number of small- and large-scale manufacturing industries, along with the increasing construction of commercial buildings.
The market is further segmented based on voltage ratings, which include high-voltage, medium-voltage, and low-voltage busway-bus duct systems. Among these, the medium-voltage segment accounted for the highest market share in 2021 due to its versatile applications across various industries. Furthermore, based on end-user industries, the market is categorized into residential, commercial, and industrial sectors. The market's expansion is largely driven by key industries such as automotive, oil & gas, power generation, and plastics. However, the fluctuating costs of raw materials required for manufacturing busway-bus duct systems pose a significant challenge to market growth.
In terms of regional analysis, Asia-Pacific emerged as the dominant market in 2021, generating the highest revenue, followed by North America and Europe. Meanwhile, the LAMEA region is projected to experience the highest CAGR in the coming years due to rapid industrial expansion.
Moreover, industrial growth in emerging economies presents lucrative opportunities for market expansion. Key manufacturers have introduced advanced busway-bus duct systems to enhance efficiency and safety. For instance, in March 2021, Tai Sin Electric Limited launched its Busbar Trunking System, which boasts improved power efficiency, low voltage drop, high tensile strength, and enhanced safety features.
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The COVID-19 pandemic significantly impacted the busway-bus duct market. During the lockdown period, manufacturing operations in major countries such as China, the U.S., and India were temporarily halted, causing a decline in sales. Additionally, workforce shortages and disruptions in the supply chain negatively affected the availability of raw materials, further impeding market growth. However, following the widespread administration of vaccines and the gradual recovery of the global economy, key industry players have been able to resume their operations and regain momentum.
Key companies profiled in the busway-bus duct market forecast report include ABB, Accu-Panels Energy Pvt. Ltd., C&S Electric Limited, Current Midwest, DBTS IND, Eaton Corporation PLC, General Electric Company, Godrej and Boyce Company Limited, Huapeng Group Company, Ltd., L&T Electrical & Automation, LS Cable & System Ltd., Powell Industries Inc., Schneider Electric, Siemens AG, TAIAN-ECOBAR TECHNOLOGY, Tricolite Electrical Industries, and Vidhyut Control India Pvt. Ltd.
Key Findings of the Study
The report provides an extensive analysis of the busway-bus duct market size, along with current and emerging trends and dynamics.
Among the different types, the non-segregated phase bus duct segment dominated the market in terms of revenue in 2021, while the segregated phase bus duct segment is expected to grow at a significant CAGR during the forecast period.
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Based on voltage ratings, the medium-voltage segment recorded the highest revenue in 2021.
By end-user industry, the industrial segment registered the highest revenue in 2021.
Regionally, the LAMEA region is anticipated to exhibit the highest growth rate in the coming years.
The report profiles key players in the busway-bus duct market, analyzing their strategies to provide insight into the competitive landscape.
The study offers a comprehensive market outlook and overview of the busway-bus duct industry.
An in-depth market analysis is conducted by estimating key segments between 2022 and 2031.
Construction Newswire https://www.linkedin.com/newsletters/construction-newswire-6925036539492126720/
Construction blog https://www.linkedin.com/newsletters/accuracy-precision-7028605745986248704/
Construction Article https://www.linkedin.com/newsletters/manufacturing-construction-6950362034999812096/
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