Wilmington, Delaware, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Busbar Trunking Market by Conductor Type (Copper and Aluminum), Insulation Type (Air Insulated and Sandwich Insulated), and End-Use Industry (Industrial, Commercial, Residential and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the busbar trunking market was valued at $8.4 billion in 2023, and is estimated to reach $15.8 billion by 2033, growing at a CAGR of 6.6% from 2024 to 2033.
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Prime determinants of growth
The global busbar trunking market is experiencing growth due to a rise in demand for electricity. However, the initial cost of busbar trunking systems is expected to hamper the market growth. An integration of smart grid technology is expected to provide lucrative opportunities in the busbar trunking market during the forecast period.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $8.4 billion |
| Market Size in 2033 | $15.8 billion |
| CAGR | 6.6% |
| No. of Pages in Report | 300 |
| Segments Covered | Conductor Type, Insulation Type, End-Use Industry, and Region |
| Drivers |
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| Opportunity |
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| Restraint |
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The aluminum segment is expected to remain the dominant segment throughout the forecast period
Busbar trunking systems find extensive use in various applications where efficient and reliable power distribution is critical, particularly in aluminum-intensive industries. Aluminum's conductivity is lower than that of copper, but its lighter weight and lower cost makes it ideal for applications where weight and cost considerations are paramount. Industries such as aerospace, automotive, and marine engineering often opt for aluminum busbar trunking due to these advantages. The weight savings can contribute significantly to overall fuel efficiency in transportation sectors, while the lower material cost helps manage project budgets effectively.
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The sandwich insulated segment is expected to lead throughout the forecast period
In industrial applications, such as manufacturing plants and assembly lines, sandwich-insulated busbar trunking is favored for its robustness and reliability. These systems efficiently distribute power across large facilities, supporting heavy machinery and equipment with minimal energy loss. The sandwich insulation not only protects against electrical faults but also reduces the risk of physical damage from environmental factors like moisture and dust, ensuring uninterrupted operations.
The industrial segment dominated the market throughout the forecast period
Busbar trunking systems play a crucial role in the industrial sector, offering efficient and reliable power distribution solutions across various applications. These systems are extensively used in industrial settings due to their ability to handle high power loads and provide flexibility in installation and maintenance. In industrial environments where continuous and reliable power distribution is critical, busbar trunking systems excel. They are designed to carry high currents safely, making them ideal for transmitting power from the main distribution panels to different sections of the industrial facility. This efficiency helps in minimizing power losses and ensuring consistent voltage levels throughout the plant.
Asia-Pacific to maintain its dominance by 2033
Busbar trunking systems have gained significant traction across Asia-Pacific countries due to their efficiency, reliability, and cost-effectiveness in electrical power distribution. These systems are extensively used in various sectors including commercial buildings, industrial facilities, data centers, and transportation infrastructure.
In countries such as China and India, rapid urbanization and industrialization have spurred demand for efficient electrical distribution systems. Busbar trunking systems are preferred for their ability to handle large currents safely and efficiently, reducing energy losses and ensuring reliable power supply. In urban centers such as Beijing, Shanghai, Mumbai, and Delhi, where high-rise buildings are common, busbar trunking systems provide a compact and space-saving solution for distributing power vertically and horizontally within buildings.
In Southeast Asia, countries such as Singapore and Malaysia are adopting busbar trunking systems in their modern building projects and industrial zones. These systems meet stringent safety and reliability standards required for high-density urban environments. In Singapore, for instance, busbar trunking is integral to the Marina Bay Sands and other landmark developments, showcasing its suitability for large-scale, complex installations.
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Players: -
- ABB
- Schneider Electric
- Siemens
- Legrand
- Eaton
- DTM Elektroteknik
- Pogliano BusBar s.r.l.
- Naxso BBT Srl
- DBTS Industries Sdn Bhd
- Starline Holdings, LLC
The report provides a detailed analysis of these key players in the global busbar trunking market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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