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Busway- Bus Duct Market is to grow at 5.5 % CAGR, with Europe leading the market through 2030
Busway-Bus Duct Market
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Busway- Bus Duct Market to Hit USD 19.75 Bn by 2030
The Busway- Bus Duct Market was USD 12.87 Bn in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 5.5 % from 2023 to 2030, reaching USD 19.75 Bn by 2030. In commercial and industrial settings, buses offer a reliable and secure way to distribute power. To provide a steady supply of energy, busways are a crucial component of contemporary infrastructure in business and residential buildings, as well as in industrial facilities and data centers. One major benefit is that maintenance can be done without affecting the power supply, which is very useful in mission-critical settings like data centers and hospitals. The medium voltage bus duct market in the United States was estimated to develop at a compound annual growth rate (CAGR) of 5.2% between 2024 and 2030.
Busway- Bus Duct Market Segmentation
By Type: Isolated Phase Bus Ducts are designed to provide maximum electrical isolation between phases. IPBDs are highly reliable and safe, particularly for situations requiring high voltage. Segregated Phase Bus Ducts are made to use walls or obstacles inside the duct to create phase separation. SPBD is cost-effective as compared to IPBD. Non-Segregated Phase Bus Ducts are perfect for less sensitive situations due to their simpler design and lower cost.
By Voltage: High-voltage Busways are made to withstand high voltages, usually greater than 1,000 volts, and high current capabilities. Medium-voltage busways operate in the range of 1 kV to 36 kV and are typically used for power distribution at moderate levels. Low-voltage busways are intended for usage in situations where a voltage of less than 1 kV is needed.
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Busway- Bus Duct Market Regional Analysis
The United States busway market is anticipated to expand over the ensuing years at a compound annual growth rate (CAGR) of 5-7%. The greatest demand for busways is seen in the Northeast and West Coast areas, such as California, New York, and Texas. Siemens AG, Eaton Corporation, and Schneider Electric are the major key players that dominate the busway market.
Germany's strong industrial base particularly in the manufacturing and automotive industries, there is a great need for busways and other high-capacity power distribution systems. The South of Germany is home to several industrial facilities, automakers, and energy businesses, especially in Bavaria and Baden-Württemberg.
China's busway market is anticipated to grow at a compound annual growth rate (CAGR) of 6-8% over the projected period. Eastern China (Shanghai and Zhejiang), Southern China (Guangdong and Shenzhen), and Northern China (Beijing and Tianjin) are the major key regions that expand the Busway- Bus Duct Market.
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Busway- Bus Duct Market Competitive Landscape
Eaton Corporation: For over $11.8 billion, Eaton acquired Cooper Industries, one of its biggest and most prominent purchases. In 2022, Eaton acquired Tripp Lite. The deal was valued at $1.65 billion.
Siemens AG: Siemens acquired Varian, which cost almost $16.4 billion. Also, for €750 million, Siemens purchased Sartorius' Bioanalytics division. In 2021, Siemens acquired Bonn-ETC.
ABB Ltd.: For $3.9 billion, ABB purchased Thomas & Betts Corporation, a North American electrical component maker. Also, ABB acquired Berthold Technologies for €1.2 billion.
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Conclusion
The need for busway systems is also being driven by the push for sustainability and the growth of renewable energy initiatives by the government.
Due to several causes, including increased urbanization, the demand for more effective power distribution systems, technical improvements, and the advent of industrial automation, the busway (bus duct) market is expanding rapidly.
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