Market Overview
The global busbar trunking system market is expected to grow from USD 6.2 billion in 2023 to USD 10.3 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.50% during the forecast period (2023 - 2032).
The growth of the busbar trunking system market is attributed to the following factors:
· Rising demand for a stable and reliable supply of power distribution
· Modernization of existing electrical infrastructure
· Expanding electrification of developing countries
· Increasing demand from data centers and other commercial and industrial facilities
· Availability of low-cost busbars made up of aluminum and aluminum-copper alloys
Manufacturers are spending extensively on cutting-edge manufacturing technologies, cost-cutting tactics, and research methods to produce high-quality products. As a result, in the next few years, a wide choice of high-quality items at reasonable prices will be available on the market.
When it comes to busbar trunking, you're talking about a system made up of premade electrical distribution systems enclosed in a highly protected casing. For a broad range of industrial and commercial businesses, they provide a perfect, safe, stable, and effective distribution network. However, due to the government's strict laws and restrictions, many enterprises and institutions focus on energy efficiency.
As a result, busbar trunking system sales are influenced by various variables, including end-user interest in technological advancements and improved operational efficiency.
The breakout of COVID-19 has altered the market dynamics in different ways. There have been several areas that have been impacted.
Key Companies in the busbar trunking system market include
· ABB Ltd. (Switzerland)
· Schneider Electric (France)
· Eaton Corporation PIc (Ireland)
· Larsen & Toubro (India)
· Siemens AG (Germany)
· General Electric (U.S.)
· C&S Electric Limited (India)
· Legrand SA (France)
· Godrei & Boyce Manufacturing (India)
· Busbar Services (South Africa)
· DBTS Industries SDN BHD. (Malaysia)
Market Segmentation
According to the reports, the global busbar trunking system market is segmented based on conductor, insulation, power rating, end-users, and regions.
The sandwich BTS market is expected to increase because of a growing need for substitutes for natural cabling systems. In addition, flexibly installing the item and being able to relocate it for a reduced outlay, as well as having enhanced mechanical protection and conserving space, will encourage product adoption.
The market for copper busbar trunking systems is expected to expand due to the material's increased conductivity, resistance to extreme temps, high sensitivity for destruction, and longer lifetime. In addition, there will be an increased demand for these systems because of their excellent resistance and low loss in large voltage transmission.
More than $280 million was spent on lighting busbar trunking systems in 2018. The most important factors that will drive demand for systems include ease of installation, speed of linking systems, and ease of mounting attachment structures. In addition, as demand for noise-free power systems rises, it will have a favorable impact on the commercial scene.
Regional Classification
In the next years, the Asia-Pacific region is predicted to develop at the quickest rate of any other region. Due to a rising population, urbanization, and industrialization, Asia-Pacific is one of the fastest-growing areas globally. As a consequence, there is a considerable need for power distribution assurance. As a result, a large number of nations are making investments in the renewables industry, as well as electricity distribution facilities, to meet these needs.
Global hydropower generating capacity is expected to reach 36% by 2015, and wind energy generation capacity is expected to reach 40% by 2021, respectively, according to the International Energy Agency. New coal plants in different stages of construction in China account for almost a third of the worldwide coal plant pipeline. Because of aspects like minimal maintenance and operations, busbar trunking is projected as being the most logical solution for these improvements in the future.
Industry News
Electrical busbar systems market size, which are widely used in data centers throughout the globe, are the primary driver of this market's development. Increases in data centers and their predicted exponential development are likely to drive demand for busbar trunking systems. In addition, the busbar trunking system market growth has been fueled by the rapid expansion of different business sectors, customer relationships, and end-user satisfaction factors during the previous decade due to rapid industrial development.
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