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Busway-Bus Duct Market Is Expected to Garner $21 Bn, Globally, by 2030 at 5.5% CAGR: AMR

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News provided by

Allied Analytics LLP

13 Sep, 2022, 11:30 GMT

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Rise in industries and commercial buildings in developing and developed nations and increase in demand from energy sector have boosted the growth of the global busway-bus duct market.

PORTLAND, Ore., Sept. 13, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Busway-Bus Duct Market 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, Industrial): Global Opportunity Analysis and Industry Forecast, 2021-2031". As per the report, the global busway-bus duct industry was pegged at $12.1 billion in 2021, and is expected to reach $21 billion by 2031, growing at a CAGR of 5.5% from 2022 to 2031.

Drivers, restraints, and opportunities

Rise in industries and commercial buildings in developing and developed nations and increase in demand from energy sector have boosted the growth of the global busway-bus duct market. In addition, rise in urbanization and growth of the service sector supplement the market growth. Moreover, developments in the chemical, automotive, consumer goods, and pharmaceuticals sectorswould open new opportunities in the future. The report offers a detailed analysis of the changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Download Sample PDF (297 Pages with More Insight): https://www.alliedmarketresearch.com/request-sample/14361 Covid-19 scenario:

  • The pandemic negatively affected the market, due to restrictions on manufacturing and construction activities.
  • The economic slowdown resulted in reduced spending on various busway-bus duct systems by commercial and industrial users.

The non-segregated phase bus duct segment dominated the market

By type, the non-segregated phase bus duct segment held the largest share in 2021, accounting for around half of the global busway-bus duct market. This is due to its cost effectiveness. However, the segregated phase bus duct segment is expected to register the highest CAGR of 5.9% during the forecast period, owing to higher operational efficiency and enhanced safety.

The low voltage segment to manifest the highest CAGR through 2031

By voltage, the low voltage segment would showcase the highest CAGR of 5.9% from 2022 to 2031, due to increasing popularity of busducts in residential buildings. However, the medium-voltage segment held the largest share in 2021, contributing to more than half of the global busway-bus duct market, due to extensive use of medium voltage power transmission systems in various industries.

Get detailed COVID-19 impact analysis on the Busway-Bus Duct Market: https://www.alliedmarketresearch.com/request-for-customization/14361

The residential segment to showcase the highest CAGR by 2031

By end user industry, the residential segment is projected to register the highest CAGR of 6.0% during the forecast period, owing to increasing popularity of busducts in high rise buildings. However, the industrial segment held the lion's share in 2021, accounting for more than two-fifths of the global busway-bus duct market, due to requirement of safe power transmission systems.

Asia-Pacific held the largest share

By region, the global busway-bus duct market across Asia-Pacific held the lion's share in 2021, accounting for nearly half of the market, due to large manufacturing industry in the region. However, the market across LAMEA would showcase the highest CAGR of 7.1% from 2021 to 2030, owing to rapid growth of industries in Latin America.

Major 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.

The report analyzes these key players of the global busway-bus duct market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player

Interested in Procure Data? Visit Here: https://www.alliedmarketresearch.com/purchase-enquiry/14361

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:

https://www.alliedmarketresearch.com/avenue/trial/starter

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR 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.

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Contact us:
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Allied Market Research published a report, titled, "Functional Food Market by Type (Bakery & Cereals, Dairy Products, Beverages, Dietary Supplements...

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