Bus duct is a type of equipment responsible for transmitting and distributing electric energy in low-voltage power supply systems. It is the main substitute for traditional wires and cables. As my country’s social electricity consumption continues to grow, the busbar duct industry faces broad development space. According to data from the China Electricity Council, the 2023-2024 National Electricity Supply and Demand Situation Analysis and Forecast Report released by the China Electricity Council on January 30 shows that the entire society’s electricity consumption in 2024 is expected to be 9.8 trillion kilowatt hours, which is higher than that in 2023. The annual growth rate is about 6%.
Global busway industry: growing rapidly at a compound growth rate of 4% every year.
According to the latest data, the global busway market has shown a steady growth trend in recent years. In 2020, the global bus duct market size reached US$30.431 billion. In 2021, affected by price factors, the market size will further expand to US$40.352 billion, a year-on-year increase of 32.6%. By 2022, the market size will be approximately US$40.687 billion.
From the perspective of production and demand, the global busbar duct market shows a steady growth trend from 2014 to 2022. During this period, global busway production increased from 34.48 million meters to 47.64 million meters, with an average annual compound growth rate of 4.12% during the period. At the same time, the global demand for busbar ducts also increased from 33.07 million meters to 45.41 million meters, with an average annual compound growth rate of 4.04% during the period.
China’s bus duct industry: The relationship between supply and demand remains balanced, and the market prospects are promising.
Bus duct itself is easy to install, has strong overload capacity, is easy to maintain, and has good heat dissipation. It has been widely used in the connection between electrical panel cabinets and transformers, and the market size continues to expand. According to statistics, the market size of China’s bus duct industry in 2022 Reaching 72.437 billion yuan, a year-on-year increase of 0.9%.
In 2022, the market size of China’s bus duct industry will be approximately 72.437 billion yuan, of which the scale of low-voltage bus duct will be approximately 60.413 billion yuan, accounting for 83.4%; the scale of high-voltage bus duct will be approximately 12.024 billion yuan, accounting for 16.6%.
China’s busbar duct production has shown a steady growth trend in recent years. In 2014, China’s bus duct production was approximately 10.58 million meters, and in 2022, China’s bus duct production increased to 15.45 million meters. At the same time, the demand for busbar ducts in China is also growing. In 2014, China’s busway demand was 9.81 million meters, and by 2022, the demand will increase to 14.22 million meters. This shows that the supply and demand relationship in China’s busbar duct market remains balanced and the market prospects are promising.
Industry chain analysis of China’s bus duct industry: closed-loop cooperation between upstream and downstream to form global product advantages.
The upstream industries mainly include the production and manufacturing of copper materials, aluminum materials, insulation products (PET polyester film), electrical components, busbar processing machine, etc. The quality and stability of these raw materials have an important impact on the performance of busway products. In addition, the development of the busway industry is also affected by price fluctuations in the upstream raw material market.
Downstream industries involve many fields, including electric power, electronics, automobile manufacturing, rail transit, data centers, metallurgy and chemical industry, commercial real estate, new energy and other industries. The development status and market demand of these industries directly affect the development status of the bus duct industry.
In the upstream and downstream structure of the industrial chain, companies in the busbar duct industry usually establish cooperative relationships with upstream and downstream companies to ensure the supply of raw materials and product sales. With changes in the global market and technological advancement, companies in the busbar duct industry need to continuously optimize the industrial chain structure, improve product quality and reduce costs to adapt to changes in global market demand and form global core product advantages.
The bus duct industry is developing rapidly, and bus duct processing companies are ushering in a new round of growth.
“Driven by the rapid growth in demand in the bus duct industry, our busbar machines will increase by 300% in 2023 compared to 2022, with annual exports exceeding 5,000 units. In 2024, the company will accelerate the expansion of overseas markets and emerging industries, expand production capacity, and provide busbar machines Manufacturing scale, continue to create new growth points for the busbar machine business, and accelerate the transformation and upgrading to intelligence, greenness and customization, seize the rising period of global busbar processing demand, and achieve comprehensive improvements in business scale, business quality, and profitability. To meet the rapidly growing demand for busbar processing around the world.” The person in charge ofSunshine Busbar Machine Manufacturing Company, a China busbar machine manufacturer, told a reporter from the Business Times.
The development trend of the busway industry: gradually moving towards customized design.
As users’ demands for personalized power distribution equipment increase, the busway industry is gradually moving towards customized design. Enterprises need to provide customized product designs based on the specific needs of users to meet the differentiated needs of various occasions and industries.
Technological innovation in the busway industry is mainly reflected in new materials, improvements in busbar manufacturing processes, and the introduction of intelligent control systems. These innovations optimize the performance of bus ducts, provide stronger anti-interference capabilities, and facilitate operation and maintenance management. In the future, with the continuous development of science and technology, technological innovation in the busway industry will continue to promote industry progress.
With the increasing awareness of global environmental protection, the busway industry is actively taking measures to improve energy efficiency and use environmentally friendly materials to reduce negative impacts on the environment. This trend aims to promote sustainable development and reduce environmental pressure, laying the foundation for the green development of the industry.
