Busbar Trunking System Market Size was valued at USD 5.9 Billion in 2022. The busbar trunking system market industry is projected to grow from USD 6.2 Billion in 2023 to USD 10.3 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.50% during the forecast period (2023 - 2032). A rise in the number of data centers and a variety of business sectors are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for busbar trunking system is being driven the cost savings and increased efficiency. Busbar installation is often less expensive and electrical professionals do not need to seek outside support. They are less expensive to build or refurbish and do not require ongoing maintenance. Busbars are fitted fast and efficiently, with no downtime. The usage of busbar forms has lowered the amount of copper required since the expanded perimeter of the busbar allows for greater heat exchange, allowing for a reduction in cross-section while retaining the ampacity (current capacity) and saving pricey material.
Furthermore, the market for busbars is growing due to the constant demand for electricity and energy on all continents, which is related to increased urbanisation and population expansion. According to the U.S. Energy Information Administration (EIA), as the economy grows, power consumption in the United States will reach new highs in 2022 and 2023. According to the EIA, power demand is predicted to rise from 3,930 billion kWh in 2021 to 4,010 billion kWh in 2022 and 4,019 billion kWh in 2023.
In addition, it is expected that by 2032, demand for energy would have climbed by around 80% as additional nations become highly industrialised. As a result, industry leaders are making significant investments in suitable power generating and distribution grids, which has resulted in increased use of high-quality insulation and conducting materials. As a result, manufacturers are producing more busbars for various industrial uses.
The busbar trunking system market segmentation, based on conductor includes copper and aluminum. The copper category is the market's largest contributor and is predicted to increase at a rate of 42% over the forecast period. Copper has exceptional features such as strong thermal conductivity, ductility, corrosion resistance, and a long and dependable service life, which increases the product's efficiency. Also, inside the casing busbar, the conductors are individually insulated and alternate with insulating material.
Figure1: Busbar Trunking System Market, by Conductor, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The busbar trunking system market segmentation, based on insulation, includes air, sandwich. During the forecast period, the sandwich category is expected to be the largest market share. Flexible installation, improved mechanical protection, and space savings are the primary reasons for the sandwich segment's dominance.
The busbar trunking system market segmentation, based on power rating, includes lighting, low, and medium, high. The low-power segment will be the largest contributor to the market in 2022, as these busbars are widely employed in distribution panels and switchboards across numerous utilities and sectors. Ongoing investments in the refurbishment and modernisation of existing commercial buildings, as well as an optimistic view for the expansion of the industrial sector, will drive the corporate environment.
The busbar trunking system market segmentation, based on end-use, includes industrial, commercial, large residential, transportation. The industrial category is expected to remain the largest component of the market. Massive investment in quickly developing industrial sectors in emerging nations, as well as modernisation of existing capabilities in developed markets, is the primary element driving industrial sector expansion.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American busbar trunking system market area will dominate this market, due to ongoing technical advancements in the structural integrity of conductors. In addition, several government programmers aimed at reducing carbon emissions, as well as an increase in infrastructure change, are projected to generate opportunities in North America's busbar market throughout the projection period.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: Busbar Trunking System Market Share By Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe’s busbar trunking system market accounts for the second-largest market share because of increased government funding and finance for the construction of energy infrastructure projects to support electricity generation. Further, the German busbar trunking system market held the largest market share, and the UK busbar trunking system market was the fastest-growing market in the European region
The Asia-Pacific Busbar Trunking System Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to rising solar power capacity is expected to generate opportunities for regional players. Moreover, China’s busbar trunking system market held the largest market share, and the Indian busbar trunking system market was the fastest- growing market in the Asia-Pacific region.
Leading market players are extensively spending in research and development in order to increase their product lines, which will help the busbar trunking system market grow even more. Market participants are also engaging in a number of strategic initiatives to grow their worldwide footprint, with significant market developments including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organisations. To expand and survive in a more competitive and rising market climate, the busbar trunking system industry must provide cost-effective products.
Manufacturing locally to reduce operational costs is a fundamental business strategy utilised by manufacturers in the worldwide busbar trunking system industry to benefit customers and expand the market sector. The busbar trunking system industry has recently provided some of the most significant benefits to medicine. ABB, Ltd. (Switzerland), ABB, Ltd. (Switzerland), and Schneider Electric (France) are major players in the busbar trunking system industry. Eaton Corporation, PIc (Ireland), Legrand SA (France), and other companies are striving to enhance market demand by investing in R&D operations.
ABB Ltd. is a Swedish-Swiss multinational enterprise located in Zürich, Switzerland. The firm was founded in 1988 when Sweden's Allmänna Svenska Elektriska Aktiebolaget (ASEA) and Switzerland's Brown, Boveri & Cie amalgamated to become ASEA Brown Boveri, later abbreviated to ABB. Both firms were founded in the late 1800s and were important electrical equipment makers, a business in which ABB is still involved today. Since then, the company has also grown into robotics and automation technology. In March 2020, ABB announced the sale of its solar inverter business to Fimer, an Italian solar inverter maker. The purchase comprises all of ABB's production and research and development facilities in Finland, Italy, and India, as well as 800 people spread across 26 countries.
Siemens is a German multinational conglomerate and Europe's largest industrial manufacturing firm. Its headquarters are in Munich, and it has a number of foreign branch offices. The company's primary divisions are Digital Industries, Smart Infrastructure, Mobility, Healthcare (named Siemens Healthineers), and Financial Services. The firm is a notable manufacturer of medical diagnostics equipment; its medical health-care segment, which accounts for around 12% of total revenues, is the corporation's second-most lucrative unit after the industrial automation division. It is considered as a pioneer in this field and the corporation with the largest revenue in the world. The company is part of the Euro Stoxx 50 stock market index. In Jun 2019, Siemens has agreed to supply the Egyptian Electricity Transmission Company (EETC) with the country's first digital power transformer, the Siemens Sensformer.
September 2022: Schneider Electric will spend Rs. 300 crore in a new smart factory in Telangana, India, and will hold a groundbreaking ceremony.
In September 2021:Â Vertiv Holdings Company, a 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 cash upfront plus the potential for up to USD 200 million in cash in the future.
February 2020: ABB's NeoGearTM low-voltage switchgear now includes the ground-breaking revolutionary laminated bus plate technology. With a 25% smaller footprint, NeoGear has introduced a new way of thinking about busbar technology in switchgear, making it the optimum alternative when space is limited. Â
| Report Attribute/Metric | Details |
| Market Size2022 | USD 5.9 Billion |
| Market Size 2023 | USD 6.2 Billion |
| Market Size2032 | USD 10.3 Billion |
| Compound Annual Growth Rate (CAGR) | 6.50% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Conductor, Insulation, Power Rating, End-User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | ABB, Ltd. (Switzerland), ABB, Ltd. (Switzerland), Schneider Electric (France). Eaton Corporation, PIc (Ireland), Legrand SA (France), Godrej & Boyce Manufacturing Company Limited (India), Busbar Services (South Africa) and DBTS Industries SD. BHD. (Malaysia), Larsen & Toubro (India), Siemens AG (Germany), General Electric (U.S.), C&S Electric Limited (India) |
| Key Market Opportunities | · Raise in number of data centers |
| Key Market Dynamics | · Rapid industrialization growth Urbanizations. |
Busbar Trunking System Market Highlights:
Frequently Asked Questions (FAQ) :
The busbar trunking system market size was valued at USD 5.9 Billion in 2022.
The market is projected to grow at a CAGR of 6.50% during the forecast period, 2023-2032.
North America had the largest share in the market
The key players in the market are ABB, Ltd. (Switzerland), ABB, Ltd. (Switzerland), Schneider Electric (France). Eaton Corporation, PIc (Ireland), Legrand SA (France).
The copper category dominated the market in 2022.
The sandwich had the largest share in the market.
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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