Busway-Bus Duct Market Size to Grow USD 15620 Million by 2029 at a CAGR of 5.8% | Valuates Reports
BANGALORE, India, Jan. 8, 2024 /PRNewswire/ -- Busway-Bus Duct Market Report 2024 is Segmented by Type (Air Splicing Bus Duct (BMC), Intensive Insulation Plug Bus Duct (CMC), Higher Strength Enclosed Bus Duct (CFW)), by Application (Industrial Buildings, Commercial Building, Municipal Buildings): Global Opportunity Analysis and Industry Forecast, 2024-2029.
The Global Busway-Bus Duct Market Size is expected to reach USD 15620 Million by 2029, growing at a CAGR of 5.8% from 2023 to 2029.
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Major Factors Driving the Growth of Busway-Bus Duct Market:
The market for Busway Bus Ducts is expanding significantly due to factors including rising infrastructure development, energy efficiency awareness, and fast urbanization. Global urbanization has increased the need for effective electrical distribution systems, and Busway Bus Ducts offer a versatile and space-saving solution.
CMC Bus Ducts are ecologically sustainable since the cast resin doesn't include any halogens or harmful materials, which is in line with the increasing focus on safe and environmentally friendly technology. All of these qualities make CMC Bus Ducts the product of choice for applications where strong insulation and environmentally friendly design are important factors.
In addition, the market for Busway Bus Ducts is being driven by the expansion of industrial activities, demand for data centers, electrification projects for urban transport, and the adoption of fire-resistant and sustainable designs. Busway Bus Ducts are still an essential component of contemporary electrical distribution networks.
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TRENDS INFLUENCING THE GROWTH OF THE BUSWAY-BUS DUCT MARKET:
Due to their excellent insulation qualities and environmental friendliness, Plug Bus Ducts with Intensive Insulation are becoming more and more popular. High levels of dielectric strength are provided by the cast resin insulation in CMC Bus Ducts, which guarantees efficient electrical insulation and improves general safety and dependability. Furthermore, CMC Bus Ducts are ecologically sustainable due to the lack of halogens and hazardous materials in the cast resin, which is consistent with the increased focus on safe and environmentally friendly technology. All of these qualities make CMC Bus Ducts the product of choice for applications where strong insulation and environmentally friendly design are important factors.
Global infrastructure development and urbanization trends are driving the Busway Bus Duct market. Efficient electrical distribution systems are becoming more and more necessary to power residential and commercial structures, as well as industrial complexes, as metropolitan areas grow. Busway bus ducts offer a dependable way to address the growing power demands in urban environments because of their flexible design and space-saving nature.
Growing industry attention on energy efficiency has an impact on market growth. Busway bus ducts reduce power losses during distribution, which helps with energy saving. These systems are favored by businesses looking for sustainable and energy-efficient electrical solutions because of their characteristics that lower electrical impedance and increase operational efficiency and cost-effectiveness. Demand for Busway Bus Ducts is rising as a result of the incorporation of renewable energy sources. In the context of the global transition to sustainable power production, bus ducts are essential for effectively incorporating renewable energy sources into the current electrical networks. Their flexibility and expandability render them indispensable elements in expediting the shift towards more environmentally friendly and cleaner power systems.
One of the main factors propelling the Busway Bus Duct market is the growing industrial sector, especially in emerging nations. To power machinery and equipment, industries need electrical distribution systems that are durable and flexible. Bus ducts are a flexible solution that can be tailored to meet the various power needs of contemporary industrial environments, which can lead to market expansion in areas with a manufacturing concentration. The market for Busway Bus Ducts is greatly influenced by the growing need for data centers brought on by the expansion of cloud computing and digitalization. Strong electrical distribution networks are essential for data centers in order to meet their high power density and changing operating needs. Bus ducts are designed specifically to meet the demands of data center infrastructures and are capable of efficiently managing large power loads.
The Busway Bus Duct market is expanding as a result of urban transportation electrification projects, including the electrification of buses and public transit networks. In order to facilitate the switch to electric buses, sophisticated electrical infrastructure is needed to support power distribution networks and charging stations. When it comes to meeting the increasing power demands that come with electrifying urban transportation, bus ducts offer a dependable and expandable option.
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BUSWAY-BUS DUCT MARKET SHARE ANALYSIS
Asia-Pacific, driven by rapidly developing infrastructure, industrialization, and urbanization in nations like China and India, is a leading force in the busway bus duct market. The adoption of Busway Bus Ducts has been fueled by the region's strong economic growth, which has raised demand for effective electrical distribution systems in the commercial, industrial, and residential sectors.
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Key Companies:
- Furukawa Electric
- Honeywell
- WETOWN
- Hanhe Cable
- PPB
- Siemens
- ABB
- LS Cable & System
- Starline (Legrand)
- DBTS
- Godrej & Boyce
- Powell Industries
- Dynamic Electricals
- KYODO KY-TEC Corp.
- Hua Peng
- Dasheng Microgrid Technology
- BYE Corporation
- GUANGLE
- Baosheng Group
- Schneider Electric
- Siemens AG
- ABB Ltd
- Eaton
- WOER
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