Press release
Busbar Trunking System Market Outlook 2034: Global Industry to Expand from US$ 8.4 Bn in 2023 to US$ 16.9 Bn by 2034, Driven by a 6.5% CAGR
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Analyst Viewpoint
The busbar trunking system market is witnessing rapid expansion due to the growing need for efficient power distribution solutions. Compared to conventional cabling systems, busbar trunking systems (BBTs) offer advantages such as lower installation costs, reduced space requirements, and enhanced safety. Moreover, these systems support renewable energy integration, aligning with the global sustainability movement.
Market Dynamics
Key Drivers
Growing Demand for Flexible and Reliable Electrical Distribution
Busbar trunking systems simplify installation and reduce labor costs.
Their modular design allows easy expansion and reconfiguration in industrial and commercial spaces.
The ability to integrate protective devices enhances safety and reliability.
Surge in Focus on Sustainability in Power Generation and Consumption
Governments worldwide are investing in renewable energy to meet sustainability goals.
In 2023, renewable electricity capacity additions reached 507 GW, reflecting a 50% YoY growth (IEA).
The transition toward distributed solar and wind power is driving the adoption of busbar trunking systems in modern energy grids.
Key Challenges
High Initial Costs: The upfront investment for BBTs is higher than traditional cabling systems.
Complex Retrofitting: Installing busbar trunking systems in existing infrastructure can be challenging.
Market Segmentation
By Material
Copper
Aluminum
By Insulation Type
Compact Air (Uses air insulation but requires larger busduct sizes)
Sandwich (Offers compact design with individual insulation)
Cast Resin (High-performance system for extreme environments)
By Power
Low Voltage
Medium Voltage
High Voltage
By End-use Industry
Industrial (Manufacturing plants, renewable energy facilities)
Transportation (Railways, airports)
Residential (High-rise apartments, smart buildings)
Commercial (Hospitals, shopping malls, data centers)
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Regional Analysis
Asia Pacific - Leading the Market
Asia Pacific dominated the busbar trunking system market in 2023 due to the surge in renewable energy projects and modernization of power infrastructure.
India: Installed solar energy capacity surged 30 times in the last nine years, reaching 82.63 GW in April 2024 (Invest India).
China & ASEAN Nations: Heavily investing in power grid development and energy-efficient solutions.
Europe - High Investment in Grid Modernization
Germany's E.ON announced a €42 billion investment (2024-2028) to upgrade Europe's energy infrastructure.
The EU's focus on energy efficiency and carbon neutrality is boosting BBT adoption.
Competitive Landscape
Key market players are investing in technology innovation and strategic partnerships to gain a competitive edge. Major companies include:
ABB
Eaton
Schneider Electric
C&S Electric Limited
LARSEN & TOUBRO LIMITED
Legrand
Godrej & Boyce Mfg. Co. Ltd.
EAE Group
Recent Developments
April 2024 - ABB invested in GridBeyond, an AI-powered energy management solutions provider, to enhance distributed energy resource optimization.
March 2024 - Eaton secured funding for mobility projects, including the development of electrified off-road trucks and power distribution units for hydrogen fuel cell vehicles.
The busbar trunking system market is poised for steady growth, driven by increasing investments in renewable energy, power infrastructure modernization, and smart building solutions. Asia Pacific remains the leading region, while Europe and North America are witnessing rising adoption in commercial and industrial sectors. With technological advancements and sustainability initiatives, the market is set to play a crucial role in the future of power distribution.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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