Press release
Busway-Bus Duct Market Research 2031: Key Market Trends, Growth Factors to Attain $21 Billion
Busway-Bus Duct Market
The surge in industries and commercial constructions across both developing and developed nations, coupled with increased demand from the energy sector, has propelled the expansion of the global busway-bus duct market. Furthermore, urbanization and the growth of the service sector are providing additional momentum to market growth. Additionally, advancements in the chemical, automotive, consumer goods, and pharmaceutical sectors are poised to create new opportunities in the future. A comprehensive analysis provided in the report covers evolving market trends, key investment areas, the value chain, regional dynamics, and the competitive landscape.
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The commonly observed types of busway-bus duct include isolated phase bus duct, segregated phase bus duct, and non-segregated phase bus duct. Among these, the non-segregated phase bus duct segment held the largest market share in 2021, driven by the proliferation of manufacturing industries, both small and large-scale, along with the increasing number of commercial buildings. The market analysis also encompasses voltage ratings, such as high-voltage, medium-voltage, and low-voltage systems.
The medium-voltage segment commanded the highest market share in 2021 due to its extensive applicability. Market segmentation by end-user industry includes residential, commercial, and industrial sectors. The market is primarily propelled by the growth of industries such as automotive, oil & gas, power generation, plastics, among others. However, fluctuations in the cost of raw materials used in manufacturing busway-bus duct pose a challenge to market growth.
Asia-Pacific led the global busway-bus duct market growth in 2021, followed by North America and Europe. Furthermore, the LAMEA region is anticipated to exhibit significant growth, driven by rapid industrial expansion. Emerging economies present substantial opportunities for market growth due to the increasing industrial activities.
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Key manufacturers have introduced innovative products such as stationary busway-bus duct systems. For instance, in March 2021, Tai Sin Electric Limited launched the Busbar Trunking System, characterized by enhanced performance attributes including higher power efficiency, low voltage drop, high tensile strength, and safety features.
Top Players:
Leading companies highlighted 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.
Brows Full Research Report:
https://www.alliedmarketresearch.com/busway-bus-duct-market-A13992
Read More Related Reports:
Ductile Iron Pipes Market - https://www.alliedmarketresearch.com/ductile-iron-pipes-market-A17066
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