Busway-bus duct are available in a wide range of sizes and capacities in the market, thereby making them applicable in large- and small-scale industry, along with residential and commercial buildings.
Rise in global population has significantly contributed to the growth of various industrial sectors such as automotive, and energy sector. This factor has positively affected the growth of the busway-bus duct market. In addition, owing to rapid urbanization, demand for residential buildings in the urban areas has witnessed a rise. With this, urbanization also drives the demand for commercial buildings such as office spaces, recreational places, shopping malls and others. Rise in population is also expected to further propel the energy sector. However, fluctuating cost of raw materials used for manufacturing busway-bus duct is serving as a major restraint in the growth of the market. Furthermore, growth in industries in the emerging economies is estimated to provide lucrative opportunities for the growth of the market.
The global busway-bus duct market is segmented on the basis of type, voltage, end-user industry and region. By type, the market is categorized into isolated phase bus duct, segregated phase bus duct, and non-segregated phase bus duct. On the basis of voltage, it is categorized into high-voltage, medium-voltage, and low-voltage. And on the basis of end-user industry, the market is categorized into residential, commercial, and industrial. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players that operate in the global market have adopted key strategies such as product launch, to strengthen their market outreach and sustain the stiff competition in the market
COMPETITION ANALYSIS
Key companies profiled in the busway-bus duct market report include ABB, Accu-Panels Energy Pvt. Ltd, C&S Electric Limited, Current Midwest, DBTS IND, Eaton Corporation PLC, General Electric Company, Godrej and Boyce Company Limited, Huapeng Group Company, Ltd., L&T Electrical & Automation, LS Cable & System Ltd., Powell Industries Inc, Schneider Electric, Siemens AG, TAIAN-ECOBAR TECHNOLOGY, Tricolite Electrical Industries, and Vidhyut Control India Pvt. Ltd.KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the busway-bus duct market analysis from 2021 to 2031 to identify the prevailing busway-bus duct market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the busway-bus duct market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global busway-bus duct market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Isolated Phase Bus Duct
- Segregated Phase Bus Duct
- Non-segregated Phase Bus Duct
By Voltage
- High-voltage
- Medium-voltage
- Low-voltage
By End User Industry
- Residential
- Commercial
- Building Type
- Data Centers
- Shopping Centers
- Other Commercial Buildings
- Industrial
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Italy
- Rest Of Europe
- Germany
- UK
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- ABB
- Accu-Panels Energy Pvt Ltd
- C&S Electric Limited
- Current Midwest
- DBTS IND
- Eaton Corporation PLC
- General Electric Company
- Godrej and Boyce Company Limited
- Huapeng Group Company, Ltd.
- L&T Electrical & Automation
- LS Cable & System Ltd.
- Powell Industries Inc
- Schneider Electric
- Siemens AG
- TAIAN-ECOBAR TECHNOLOGY
- Tricolite Electrical Industries
- Vidhyut Control India Pvt. Ltd.
What is the estimated value of the Global Busway-Bus Duct Market?
What is the growth rate of the Global Busway-Bus Duct Market?
What is the forecasted size of the Global Busway-Bus Duct Market?
Who are the key companies in the Global Busway-Bus Duct Market?
Report Attribute | Details |
---|---|
No. of Pages | 297 |
Published | August 2022 |
Forecast Period | 2021 - 2031 |
Estimated Market Value ( USD | $ 12059.1 million |
Forecasted Market Value ( USD | $ 20972.7 million |
Compound Annual Growth Rate | 5.7% |
Regions Covered | Global |
No. of Companies Mentioned | 17 |
Table of Contents
Executive Summary
According to the report, titled, “Busway-Bus Duct Market," the busway-bus duct market size was valued at $12.1 billion in 2021, and is estimated to reach $21 billion by 2031, growing at a CAGR of 5.5% from 2022 to 2031.Commonly observed types of busway-bus duct are isolated phase bus duct, segregated phase bus duct, and non-segregated phase bus duct. Among these, the non-segregated phase bus duct segment accounted for the largest busway-bus duct market share in 2021, owing to surge in the number of small- and large-scale manufacturing industries along with increased number of commercial buildings. The market is analyzed with respect to voltage ratings of the busway-bus duct systems, such as high-voltage, medium-voltage, and low-voltage. Among these, medium-voltage segment accounted for the highest market share in 2021, owing to its wide range of usage. And by end-user industry, the market is categorized as residential, commercial, and industrial. The market is mainly driven by rise in industries such as automotive industry, oil & gas, power generation sector, plastic industry, and others. However, fluctuating cost of raw material used for manufacturing busway-bus duct is restraining the growth of the market.
In 2021, Asia-Pacific dominated the global busway-bus duct market growth, in terms of revenue, followed by North America and Europe. Moreover, the market in LAMEA is expected to grow with high CAGR, owing to rapid industrial growth in the region.
Moreover, growth in industries in emerging economies is expected to be a major busway-bus duct market opportunity.
Key manufacturers have launched many stationary busway-bus duct. For instance, in March 2021, Tai Sin Electric Limited, introduced Busbar Trunking System. It has improved performance with its higher power efficiency, low voltage drop, high tensile strength and safety features.
However, during the pandemic lockdown, various manufacturers in the busway-bus duct market had to stop their business in countries such as China, the U.S., and India. This break directly impacted sales of busway-bus duct manufacturing companies. In addition, lack of manpower and raw materials constricted supply of raw materials for busway-bus duct; and has negatively influenced the growth of the market. However, after two years of COVID-19 outbreak and introduction of vaccinations, the severity of the pandemic has significantly reduced and key players in the market are recovering rapidly.
Key companies profiled in the busway-bus duct market forecast report include ABB, Accu-Panels Energy Pvt. Ltd., C&S Electric Limited, Current Midwest, DBTS IND, Eaton Corporation PLC, General Electric Company, Godrej and Boyce Company Limited, Huapeng Group Company, Ltd., L&T Electrical & Automation, LS Cable & System Ltd., Powell Industries Inc., Schneider Electric, Siemens AG, TAIAN-ECOBAR TECHNOLOGY, Tricolite Electrical Industries, and Vidhyut Control India Pvt. Ltd.
Key Findings of the Study
- The report provides an extensive busway-bus duct market size analysis, current and emerging busway-bus duct market trends and dynamics.
- Depending on type, the non-segregated phase bus duct dominated the busway-bus duct market, in terms of revenue in 2021 and the segregated phase bus duct segment is projected to grow at a significant CAGR during the forecast period.
- By voltage, the medium-voltage segment registered highest revenue in 2021.
- By end-user industry, the industrial segment registered highest revenue in 2021.
- Region wise, LAMEA is projected to register highest growth rate in the coming years.
- The key players within the busway-bus duct market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the busway-bus duct industry.
- The report provides an extensive analysis of the busway-bus duct market outlook and busway-bus duct market overview.
- In-depth busway-bus duct market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.
Companies Mentioned
- Abb
- Accu-Panels Energy Pvt Ltd
- C&S Electric Limited
- Current Midwest
- Dbts Ind
- Eaton Corporation plc
- General Electric Company
- Godrej and Boyce Company Limited
- Huapeng Group Company, Ltd.
- L&T Electrical & Automation
- Ls Cable & System Ltd.
- Powell Industries Inc
- Schneider Electric
- Siemens AG
- Taian-Ecobar Technology
- Tricolite Electrical Industries
- Vidhyut Control India Pvt. Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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