Global Busbar Trunking System Market

Busbar Trunking System Market Size, Share, Growth Analysis, By Material (Aluminium, Copper), By Insulation (Air, Sandwich) By Power Rating (Lighting, Low), By End-User (Industrial, Commercial), By Region - Industry Forecast 2025-2032


Report ID: SQMIG55A2049 | Region: Global | Published Date: November, 2024
Pages: 165 | Tables: 95 | Figures: 76

Busbar Trunking System Market Dynamics

Busbar Trunking System Market Driver

  • Demand for stable and reliable supply for distribution of power is increasing

The growing need for a steady and dependable source of power distribution is the key market factor for the worldwide Busbar Trunking System market. Demand for busbar trunking will increase when existing electrical infrastructure is updated. The market for contemporary electrical equipment like busbars and burial transformers will increase as developing nations electrify themselves more widely. Small-scale businesses and underdeveloped countries now have easy access to affordable busbars constructed of aluminium and aluminum-copper alloys.

  • Adoption of globalization across nations is also expected to drive the market

As nations are implementing the policies to bring about globalization, the infrastructural needs of the same are more advanced and increased in today’s era. Therefore it is likely to drive the Busbar Trunking System market over the forecast period. The market is anticipated to be driven by other elements including increased power consumption, numerous activities like power transmission, distribution, and lighting, technological advantages of busbar trunking, and a growing emphasis on distributed power generation.

Busbar Trunking System Market Restraint

  • Rapid fluctuations in the cost of raw materials

The fluctuating price of raw materials like copper and aluminium is a significant market limitation for the global Busbar Trunking System market. Because of the mismatch between supply and demand, raw material prices change. The price increase of processed metal goods is also significantly influenced by tariffs and trade restrictions. Also, the industry is likely to be constrained by the high cost of Busbar Trunking Systems, which make them unprofitable for small and medium-sized businesses.

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Global Busbar Trunking System Market size was valued at USD 5.4 billion in 2022 and is poised to grow from USD 5.7 billion in 2023 to USD 8.7 billion by 2031, growing at a CAGR of 5.5% during the forecast period (2024-2031).

The Busbar Trunking Systems market is significantly consolidated, as tier-1 players or international players hold prominent shares in the global Busbar Trunking Systems market. Tier-2 and tier-3 players account for significant shares in their local or regional Busbar Trunking Systems markets. In developing locations, organised players are attempting to make their presence known. However, unorganized/tier-2 and tier-3 competitors in the market for Busbar Trunking Systems are concentrating on releasing fresh, unique products. 'Siemens AG', 'Schneider Electric', 'ABB Ltd.', 'Eaton Corporation PLC', 'Legrand SA', 'General Electric Company', 'Larsen & Toubro Limited', 'C&S Electric Limited', 'Rittal GmbH & Co. KG', 'Anord Mardix Group', 'E+I Engineering Ltd.', 'Godrej & Boyce Mfg. Co. Ltd.', 'Megabarre Group', 'Naxso S.r.l.', 'Pogliano Busbar S.r.l.', 'DTM Elektroteknik A.S.', 'EAE Elektrik', 'DBTS Industries SDN BHD', 'P&S Power Technologies Ltd.', 'Cuthbertson Laird Group'

Demand for stable and reliable supply for distribution of power is increasing

From about 214 quadrillion British thermal units in 2010 to over 240 quadrillion British thermal units, the industrial sector's energy usage increased by more than 12%. The energy used by the industrial sector accounts for more than half of all energy used worldwide. Busbar trunking has become indispensable as a result of the increased demand for energy and the requirement for a secure source of electricity.

According to regional analysis, the North American region is dominating the market. Although during the projection period, Asia-Pacific is anticipated to have the fastest rate of growth. Due to its rapid urbanisation, industrialisation, and population growth, Asia-Pacific is one of the world's areas with the quickest rates of growth. The need for a reliable power supply is therefore great. Many nations are making investments in the transmission and distribution network as well as the renewable energy industry to meet these demands.

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Global Busbar Trunking System Market

Report ID: SQMIG55A2049

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