Busbar Trunking System Market is projected to reach USD 8.85 billion by 2022
NEW YORK, May 31, 2017 /PRNewswire/ -- Highlights
l The busbar trunking system market is projected to grow at a CAGR of 6.88%, from 2017 to 2022
l The busbar trunking system market is projected to reach USD 8.85 billion by 2022, at a CAGR of 6.88%, from 2017 to 2022.
l Demand for electricity, multiple operational and technical advantages for end-users, and increasing government mandates for saving the power are other major drivers that would drive the busbar trunking system market. In the busbar trunking system market, the prices may fluctuate which could hinder the growth of the market.
l Asia-Pacific is currently the largest market for busbar trunking systems, closely followed by North America.
l The Asia-Pacific market is primarily driven by countries such as China, India, Japan, and Australia where there are high demands for busbar trunking system due to many manufacturing activities in South Asian countries.
�The busbar trunking system market is projected to grow at a CAGR of 6.88%, from 2017 to 2022.�
The busbar trunking system market is projected to reach USD 8.85 billion by 2022, at a CAGR of 6.88%, from 2017 to 2022. Increased adoption of energy efficiency practices, various operational and technical advantages to the potential end-users, space constraints in multi-storey buildings, and growing demand for power are the major drivers of the busbar trunking system market.
Demand for electricity, multiple operational and technical advantages for end-users, and increasing government mandates for saving the power are other major drivers that would drive the busbar trunking system market. In the busbar trunking system market, the prices may fluctuate which could hinder the growth of the market.
�The sandwich busbar trunking system sub-segment, within the insulation segment, is expected to grow at the highest CAGR, from 2017 to 2022.�
The sandwich busbar trunking sub-segment, within the insulation segment, led the busbar trunking system market in 2016 and is projected to dominate the market during the forecast period. The segment is expected to grow at the fastest rate during the forecast period.
Sandwich busbar trunking system is more compact as compared to air insulated busbar trunking system, making it a preferred choice in high-rise buildings. The compact nature of sandwich type results in higher efficiency due to lower voltage drop. Moreover, sandwich busbar trunking system is flexible in nature and easy to install resulting into lower installation as well as maintenance cost.
�Asia-Pacific: The largest market for busbar trunking system�
Asia-Pacific is currently the largest market for busbar trunking systems, closely followed by North America. The Asia-Pacific market is primarily driven by countries such as China, India, Japan, and Australia where there are high demands for busbar trunking system due to many manufacturing activities in South Asian countries. The market in this region is projected to grow at a high rate, with China expected to dominate the market. Increasing domestic demand for efficient power infrastructure would drive the market for busbar trunking system. The Chinese government is taking efforts to expand the grid and build new power plants, wind farms, and solar farms. It has induced a series of reforms in electricity pricing, distribution and retail segments, electricity trading, distributed generation, and other aspects.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.
The distribution of primary interviews is as follows:
By Company Type: Tier 1- 25%, Tier 2- 40%, Tier 3- 35%
By Designation: C-Level- 15%, Manager-Level- 55%, Others- 30%
By Region: Asia-Pacific- 60%, Middle East- 10%, Europe- 16%, North America- 9%, and Africa- 5%
Note: The tier of the companies has been defined
On the basis of their total revenue; as of 2015: Tier 1 = >USD 20 billion, Tier 2 = USD 10 billion to USD 20 billion, and Tier 3 = The leading players in the busbar trunking system market include ABB, Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric (France), General Electric (U.S.), and Eaton Corporation, plc (Ireland).
Research Coverage:
The report defines, describes, and forecasts the global busbar trunking system market by end-user, power rating, insulation, conductor, low voltage segment, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of major market drivers, restraints, opportunities, challenges, winning imperatives, and key issues. It also covers various important aspects of the market.
Why buy this report?
� The report identifies and addresses key markets for busbar trunking system, which would help suppliers review the growth in the demand for products.
� The report helps product providers understand the pulse of the market, and provides insights into drivers, restraints, and challenges.
� The report will help key players understand the strategies of their competitors better, and will help in making strategic decisions.
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