Busway-Bus Duct Market Fastest-Growing Trends with a CAGR of 5.5%, To Reach $21 Billion by 2031
Busway-Bus Duct Market Expected to Reach $21 Billion by 2031
WILMINGTON, DELAWARE, UNITED STATES, June 15, 2024 /EINPresswire.com/ — Market Outlook:
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.
The main types of busway-bus ducts include isolated phase, segregated phase, and non-segregated phase bus ducts. Of these, the non-segregated phase bus duct held the largest market share in 2021, driven by an increase in small- and large-scale manufacturing industries and more commercial buildings.
The market is segmented by voltage ratings: high-voltage, medium-voltage, and low-voltage. The medium-voltage segment had the highest market share in 2021 due to its broad application range. Additionally, the market is categorized by end-user industry into residential, commercial, and industrial sectors. Growth is primarily fueled by expansions in industries such as automotive, oil and gas, power generation, and plastics. However, fluctuating raw material costs are a challenge to market growth.
Download Sample PDF: https://www.alliedmarketresearch.com/request-sample/A13992
Driving Demands:
In 2021, the Asia-Pacific region led the global busway-bus duct market in revenue, followed by North America and Europe. The LAMEA region is anticipated to experience high CAGR due to rapid industrial growth.
Furthermore, the expansion of industries in emerging economies presents significant opportunities for the busway-bus duct market.
Leading manufacturers have introduced various stationary busway-bus ducts. For example, in March 2021, Tai Sin Electric Limited launched the Busbar Trunking System, which offers improved performance through higher power efficiency, lower voltage drop, high tensile strength, and enhanced safety features.
Enquire Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/A13992
Top Company Profiles:
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.
Request For Customization: https://www.alliedmarketresearch.com/request-for-customization/A13992
Reasons to Buy this Busway-Bus Duct Market Report:
> Mergers and acquisitions should be well-planned by identifying the best manufacturer.
> Sort new clients or possible partners into the demographic you’re looking for.
> Suitable for providing dependable and high-quality data and analysis to assist your internal and external presentations.
> Develop tactical initiatives by gaining a better grasp of the areas in which huge corporations can intervene.
> To increase and grow business potential and reach, develop and plan licencing and licencing strategies by finding possible partners with the most appealing projects.
> Recognize newcomers with potentially strong product portfolios and devise effective counter-strategies to acquire a competitive edge.
> To develop effective R&D strategies, gather information, analysis, and strategic insight from competitors
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
David Correa
Allied Market Research
+15038946022 ext.
email us here
Visit us on social media:
Facebook
Twitter
