Market Insights
“The global bus duct market is expected to grow from USD 13.65 billion in 2024 to USD 18.07 billion by 2030, at a healthy CAGR of 4.8% during 2025-2030.”
Market Dynamics
Introduction
Bus ducts are an electrical distribution system utilized for the efficient and safe transmission and distribution of high-current power. They are a metal enclosure that holds copper or aluminum busbars to transmit power, providing a space-saving and flexible option to cable systems. Their modularity, safety features, and easy installation make bus ducts perfect for contemporary power distribution systems, particularly where there are space limitations or high current loads.
The bus duct market is one of the fastest-growing segments, driven by accelerating industrialization and infrastructural development. Bus ducts have extensive applications in the construction industry for efficient power distribution. This market is segmented into voltage, material, and end-user types. The future of the bus duct market is defined by factors such as advancements in power distribution systems, inclination towards green energy sources, and the need for sustainability all around.
Market Drivers
Incorporation of Clean Energy into Power Distribution Systems
Incorporation of renewable energy sources such as wind, solar, and hydro energies into power grids surges the global demand for bus ducts. According to several reports, countries need to create a renewable energy mix and increase clean energy capacity by 2030. These steps are drawing global attention towards emphasizing sustainable energy to limit carbon emissions and mitigate climate change. This newly developed energy primarily supplements smart grid systems, creating a significant demand for bus ducts for efficient power distribution.
Market Challenges
Widespread Accessibility of Conventional Cables
Conventional cables have been actively present in the market for so many decades, and their easy accessibility and installation remain the biggest challenge for bus duct competitors. The market history of traditional cables gives it an edge, as most of the infrastructure planners opt for them. While bus ducts come with detailed planning, special fittings, and aligned installation, conventional cables are ideal for applications with odd or compact layouts. Manufacturers face this obstruction in the widespread use of bus ducts in the global market.
Market Opportunities
Implementation of Smart Grid Technologies in Energy-Efficient Systems
The global inclination towards green energy is opening up immense growth opportunities for the bus duct market. Bus ducts help integrate such renewable energy sources into power distribution systems. For instance, in solar farms, bus ducts ensure the efficient transmission of electricity from inverters to substations with reduced energy loss. Increasing the setup of smart grids requires more efficient ways of power distribution, which will propel the robust demand for bus duct market worldwide.
Recent Developments:
- In May 2024, LS Cable & System (South Korea) plans to set up a new bus duct factory in Mexico, which will be completed by the first half of 2025. This factory will operate as an export base for the North American market, including the US and Canada.
- In February 2024, SEAM Group, a US-based energized asset management and advisory services provider, was acquired by ABB (Switzerland). This acquisition will produce enhanced predictive, preventive, and corrective maintenance, renewables, and management services.
Market Segments' Analysis
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Segmentations
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List of Sub-Segments
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Segments with High-Growth Opportunity
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Voltage
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Low (up to 1 kV), Medium (1-35 kV), High (above 35 kV)
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Medium (1-35 kV) is anticipated to be the leading segment of the bus duct market during the forecast period.
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Material Analysis
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Copper, Aluminium
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Aluminium is the fastest-growing segment in the coming years because of its lightness, cost-effectiveness, and good electrical conductivity.
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Type Analysis
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Isolated Bus Ducts, Segregated Bus Ducts, Non-Segregated Bus Ducts
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Non-Segregated Bus Ducts segment is dominating the market due to its easy installation and maintenance.
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End-User Analysis
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Utilities, Industrial, Commercial, Renewables, Data Centers, and others
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Commercial segment is anticipated to have the largest market share during the forecast period due to constant demand for power distribution systems in commercial buildings.
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Regional Analysis
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North America, Europe, Asia-Pacific, and The Rest of the World
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Asia-Pacific emerges as the largest region over the forecasted period due to rapid urbanization, widespread infrastructural and industrial growth.
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By Material Type
“Aluminium is the fastest-growing segment in the coming years because of its lightness, cost-effectiveness, and good electrical conductivity.”
The bus duct market is segmented into Copper and Aluminium. Aluminium is witnessing the fastest growth in the global bus duct market because it offers a balance between service and cost effectiveness. Aluminium is the preferred material because of its lightweight and provides good electrical conductivity. This ease makes it possible for project developers and managers to plan budget-friendly provisions without compromising on quality and product performance. The segment’s market is also driven by the wider adaptability of solar panels and windmill installations, where the cost and weight benefits are both aligned.
By End-Use Type
“The commercial segment is anticipated to have the largest market share during the forecast period due to constant demand for power distribution systems in commercial buildings.”
The market for bus duct is segmented into Utilities, Industrial, and Commercial. The commercial segment dominates the bus duct market due to increased demand for efficient and reliable power distribution systems for commercial infrastructure, including buildings, malls, offices, educational institutions, and data centres. With the rapid urbanisation and infrastructural development, the demand for the commercial segment is also increasing as they are best suited for power distribution in high-rise buildings due to their ease of installation and reduced maintenance.
Regional Analysis
“Asia-Pacific emerges as the largest region over the forecasted period due to rapid urbanization, widespread infrastructural and industrial growth.”
Asia-Pacific dominates the bus duct market due to rapid urbanization, infrastructural development, and industrial growth. Asia Pacific’s countries are also heavily investing in renewable energy projects and smart grid modernization, fostering the demand for bus ducts. Furthermore, the shifting trends towards digitalization play a significant role in ensuring power distribution in data centers and technology hubs. Thus, the APAC region is fuelling the demand for bus ducts in the global market.
Key Players
Most of the major players compete in some of the factors, including price, service offerings, regional presence, etc. The following are the key players in the global bus duct market -
- ABB
- Schneider Electric
- Siemens
- Eaton
- Legrand
- General Electric Company
- Vertiv Group Corporation
- Powell Industries
- Novolecs
- Brilltech
Note: The above list does not necessarily include all the top players in the market.
Are you a leading player in this market? We would love to include your name. Please write to us at [email protected]
Report Features
This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The global bus duct market is segmented into the following categories.
Global Bus Duct Market, by Voltage Type
- Low (up to 1 kV) (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Medium (1-35 kV) (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- High (above 35 kV) (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Global Bus Duct Market, by Type
- Isolated Bus Ducts (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Segregated Bus Ducts (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Non-Segregated Bus Ducts (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Global Bus Duct Market, by Material Type
- Copper (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Aluminium (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Global Bus Duct Market, by End-Use Type
- Utilities (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Industrial (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Commercial (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Global Bus Duct Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, Italy, The UK, and the Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others
Research Methodology
- This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s brushless DC motor market realities and future market possibilities for the forecast period.
- The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
- The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruits available in the market and formulating growth strategies to expedite their growth process.
- This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
- More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
- We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
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Company Profiling
- Detailed profiling of additional market players (up to three players)
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Competitive Benchmarking
- Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances
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