Busbar Trunking System Market Size
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Busbar Trunking System Market Analysis
The busbar trunking market is expected to grow at a CAGR of more than 5% over the forecast period (2022-2027).
The market was negatively impacted by the Covid-19 pandemic, as many industrial projects were stalled due to the unfavourable economic atmosphere. However, the market has since rebounded, and the market is expected to grow steadily during the forecast period.
- Factors such as an increase in power consumption and technical advantages of busbar trunking, especially in the industrial sector, are expected to drive the market during the forecast period.
- On the flip side, the high cost of busbar trunking systems, making them unviable for small and medium enterprises is likely to restrain the growth of the busbar trunking market in the coming years.
- However, globally, the focus has increased on investments in clean energy projects and the development of smart cities. As a result, the extensive development of new renewable projects and the development of green constructions are likely to create an excellent opportunity for the busbar trunking market in the future.
Busbar Trunking System Market Trends
This section covers the major market trends shaping the Busbar Trunking Market according to our research experts:
Industrial Sector to Dominate the Market
- The industrial sector is expected to dominate the busbar trunking market in the forecast period, owing to factors like the increased adoption of energy efficiency practices, government mandates to save electricity, increasing demand for safe supply of electricity, and rise in focus on energy efficiency in the sector.
- Global energy consumption grew by almost 5.27% during 2017-2021 from around 566.66 ExaJoules in 2017 to around 595.15 ExaJoules in 2021. The energy consumption of the industrial sector is more than 50% of the total global energy consumption. With the rise in energy demand came the need for a safe supply of electricity, where busbar trunking has become irreplaceable.
- The majority of the energy consumption in the industrial sector comes from energy-intensive manufacturing industries involved in the manufacturing of basic chemicals, iron, and steel, food, non-ferrous metals, non-metallic minerals, refining, and paper. Energy-intensive industries are expected to occupy half of the share of the industrial sector energy consumption during the forecast period.
- India and China maintain a major share in the energy-intensive manufacturing sector. Both the countries combined had an total energy consumption of 193 ExaJoules in 2021, accounting for nearly 33% of the total global energy consumption.
- Therefore, with the increase in electricity demand from the industrial sector and rise in the industrial sector, especially in countries like India and China, the market for busbar trunking is expected to grow with it, due to its higher heat absorption capability, better resistance, and flexibility.
Asia-Pacific to Dominate the Market Growth
- Asia-Pacific is expected to be the fastest-growing market in the forecast period. Asia-Pacific is one of the fastest-growing regions in the world because of the increasing population, urbanization, and industrialization. As a result, the demand for guaranteed power supply is high. To address these demands, many countries are investing in the renewable energy sector and transmission and distribution infrastructure.
- As of 2021, Asia-Pacific is the largest global energy market globally, and the region had a total installed capacity of 1500.85 GW, up from 950.05 GW in 2017. China is the world's largest energy consumer, and the country is investing heavily in expanding its electricity generation capacity, especially in the renewable energy sector. As of 2021, China is the largest renewable energy market globally, with a total installed renewable energy capacity of 1020.34 GW, up from 620.86 GW in 2017
- India is also investing heavily in the renewable sector heavily and is one of the largest renewable energy markets in the world. As of 2021, India had a total installed renewable energy capacity of 147.12 GW, up from 105.25 GW in 2017.
- Additionally, both China and India hold a significant share of the world's industrial sector, mainly the energy-intensive manufacturing sector. While China's industrial energy consumption is the highest in the world, India is rapidly catching up with steady growth in its industrial sector.
- Hence due to rising industrial energy consumption and the rising integration of renewable energy, busbar trunking is expected to be the most obvious choice for these developments owing to factors like low cost of maintenance and high safety. Therefore, the aforementioned factors are expected to drive the market in the forecast period.
Busbar Trunking System Industry Overview
The busbar trunking market is highly fragmented. Some of the key players in this market, in no particular order, include Larsen & Toubro Limited, Eaton Corporation PLC, General Electric Company, Schneider Electric SE, and Siemens AG, among others.
Busbar Trunking System Market Leaders
-
Larsen & Toubro Limited
-
Eaton Corporation PLC
-
General Electric Company
-
Schneider Electric SE
-
Siemens AG
*Disclaimer: Major Players sorted in no particular order
Busbar Trunking System Market News
- In September 2021, Vertiv Holdings Company, a global provider of critical digital infrastructure and continuity solutions, announced the acquisition of E&I Engineering Ireland and its UAE-based affiliate, Powerbar Gulf, a leading manufacturer of busbar trunking systems in the GCC, for USD 1.8 billion in upfront consideration plus the potential for up to USD 200 million in cash.
Busbar Trunking System Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD billion, till 2027
- 4.3 Recent Trends and Developments
- 4.4 Government Policies and Regulations
-
4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.2 Restraints
- 4.6 Supply Chain Analysis
-
4.7 Porter's Five Forces Analysis
- 4.7.1 Bargaining Power of Suppliers
- 4.7.2 Bargaining Power of Consumers
- 4.7.3 Threat of New Entrants
- 4.7.4 Threat of Substitutes Products and Services
- 4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
-
5.1 Material
- 5.1.1 Aluminum
- 5.1.2 Copper
-
5.2 Power Rating
- 5.2.1 Lighting
- 5.2.2 Low Voltage
- 5.2.3 Medium Voltage
- 5.2.4 High Voltage
-
5.3 End-User
- 5.3.1 Commercial
- 5.3.2 Industrial
- 5.3.3 Transportation
- 5.3.4 Residential
-
5.4 Geography
- 5.4.1 North America
- 5.4.2 Europe
- 5.4.3 Asia-Pacific
- 5.4.4 South America
- 5.4.5 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
-
6.3 Company Profiles
- 6.3.1 Pogliano Busbar S.r.l
- 6.3.2 Eaton Corporation PLC
- 6.3.3 General Electric Company
- 6.3.4 Schneider Electric SE
- 6.3.5 Siemens AG
- 6.3.6 Larsen & Toubro Limited
- 6.3.7 C&S Electric Ltd
- 6.3.8 Legrand SA
- 6.3.9 Godrej Boyce Mfg. Co.
- 6.3.10 Anord Mardix IBAR (EMEA) Limited.
- 6.3.11 Megabarre Group
- 6.3.12 NAXSO S.r.l
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityBusbar Trunking System Industry Segmentation
Busbar Trunking System distributes electric power using copper or aluminum busbars with suitable enclosures and a good amount of protection to prevent the cables from getting damaged due to foreign bodies. The busbar trunking market is segmented by Material, Power Rating, End-User, and Geography. By Material, the market is segmented into Aluminum and Copper. By Power Rating, the market is segmented into Lighting, Low Voltage, Medium Voltage, and High Voltage. By End-user, the market is segmented into Commercial, Industrial, Transportation, and Residential. By Geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle-East, and Africa. For each segment, the market sizing and forecasts have been done based on revenue (USD Billion).
| Material | Aluminum |
| Copper | |
| Power Rating | Lighting |
| Low Voltage | |
| Medium Voltage | |
| High Voltage | |
| End-User | Commercial |
| Industrial | |
| Transportation | |
| Residential | |
| Geography | North America |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle-East and Africa |
Busbar Trunking System Market Research FAQs
What is the current Busbar Trunking Market size?
The Busbar Trunking Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Busbar Trunking Market?
Larsen & Toubro Limited, Eaton Corporation PLC , General Electric Company , Schneider Electric SE and Siemens AG are the major companies operating in the Busbar Trunking Market.
Which is the fastest growing region in Busbar Trunking Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Busbar Trunking Market?
In 2024, the Asia Pacific accounts for the largest market share in Busbar Trunking Market.
What years does this Busbar Trunking Market cover?
The report covers the Busbar Trunking Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Busbar Trunking Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Busbar Trunking System Industry Report
Statistics for the 2024 Busbar Trunking System market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Busbar Trunking System analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
