Busbar Trunking System Market Size, Share, Price, Growth, Industry Analysis, Forecast 2023-2028
The ‘Global Busbar Trunking System Market Price, Size, Share, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global busbar trunking system market, assessing the market on the basis of its segments like conductor material, insulation type, power rating, end use, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 6.8%
The increasing investments in clean energy projects around the world is leading to the expansion of the global busbar trunking system market. Modernisation of electrical infrastructure and the surging demand for stable power distribution systems are the major factors driving the growth of the market. The industrial end uses of this market are forecasted to grow manifold in the forecast timeline as all industries, irrespective of their specialisation require power distribution systems for carrying out routine activities. Residential end uses are also likely to register a significant growth due to the increased adoption of busbar trunking systems over traditional cabling due to their lower cost and easier installation.
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Sandwich insulation types in the busbar trunking system market are expected to witness a steady growth in the forecast period owing to growing need for replacement of traditional cabling systems due to their high cost and time taken for installation. Copper conductor materials are particularly expected to witness a robust growth in the market for busbar trunking systems due to their longer lifespan, higher conductivity, and resilience to higher temperatures. Meanwhile, the wide availability of low-cost aluminium has made its accessible for small-scale industries, which is flourishing the busbar trunking system market.
Busbar Trunking System Industry Definition and Major Segments
A busbar trunking system is a system of power distribution using aluminium and copper busbars which provide protection to the cables from getting damaged by foreign bodies. The high degree of safety and convenience offered by busbars is increasingly making them irreplaceable in various industries, infrastructure, buildings and utilities.
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On the basis of conductor material, the market is bifurcated into:
- Copper
- Aluminium
Based on insulation type, the market is segmented into:
- Air Insulation
- Sandwich Insulation
On the basis of power rating, the market is divided into:
- Lighting
- Low
- Medium
- High
Based on end use, the market is classified into:
- Residential
- Commercial
- Industrial
- Transportation
- Others
On the basis of region, the market is differentiated into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Busbar Trunking System Market Trends
The increasing energy consumption trends are bolstering the growth of the busbar trunking system market. The rising focus towards energy conservation and the increasing adoption of smart grids are key trends observed in the market that are leading to its growth. Fully standard cells like junction boxes and plugs of busbars strive to meet all the necessary safety standards by eliminating potential human errors, thus ensuring accuracy. Increasing infrastructural activities including the construction of airports, terminals, shopping complexes, and residential apartments is creating a burgeoning demand for busbar trunking systems. The high capacitance of busbar trunking systems results in greater noise cancellation and signal suppression, which is likely to increase their demand in various end use industries.
Significant investments by the governments of various nations in initiatives like ‘Make-in-India’, are fuelling market growth by expanding the manufacturing capabilities of respective nations. This, coupled with the rising energy saving programmes and campaigns around the world have fostered the growth of the busbar trunking system market. The market players are increasingly adopting piston rings for engines of vehicles, which is projected to surge the demand for steel busbar trunking systems. Since gasoline has a tendency to evaporate at low temperatures, busbar trunking systems prevent it from evaporating and is thus utilised in industries for engine emission control purposes.
Key Market Players
The major players in the global busbar trunking system market report are:
- Siemens AG
- Eaton Corporation PLC
- C&S Electric Limited
- EAE Elektrik
- Naxso S.r.l
- Others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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