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Busbar Trunking Systems Market Trends

  • Report ID: GMI2217
  • Published Date: May 2023
  • Report Format: PDF

Busbar Trunking Systems Market Trends

Increasing product demand in commercial and industrial sector where busbar trunking systems are widely used for power distribution is anticipated to increase the industry scenario led by increasing energy demand. The growing construction activities and infrastructure development in these sectors are driving the demand for these systems. Additionally, with the increasing emphasis on energy conservation and sustainability, the product is being designed and manufactured to be more energy efficient. Companies are incorporating advanced technologies and materials to reduce power losses and improve overall system efficiency.

 

Morover, rapid growth in renewable energy installation including solar and wind power is driving the busbar trunking systems market demand to efficiently distribute the generated power. These systems provide a reliable and safe solution for transferring electricity from renewable sources to the grid or local loads. Compliance with international safety standards ensures the reliability and safe operation of these systems.

Authors: Ankit Gupta, Abhishek Chopra

Frequently Asked Questions (FAQ) :

The market size of busbar trunking systems exceeded USD 2.4 billion in 2022 and will progress at 10.4% CAGR during 2023 to 2032 propelled by the increasing electricity demand, coupled with the rising need for the refurbishment of prevailing electrical setup.

The lighting systems segment is poised to grow considerably through 2032 on account of rising demand for hassle-free power distribution systems across overhead & raised floors and false ceilings.

The utility application segment held a considerable share of the busbar trunking systems industry in 2022 attributed to increasing emphasis on the integration of wide-ranging frequency distribution links, along with growing concerns for energy efficiency.

Asia Pacific busbar trunking systems sector is slated to expand significantly by 2032 as a result of growing electricity demand, coupled with growing points of connection in the region.

Major firms operating in busbar trunking systems industry are Eaton, Siemens, EAE, Schneider Electric, ABB, L&T Electrical & Automation, C&S Electric Limited, Legrand, Godrej, Naxso S.r.l, MEGABARRE EUROPE SRL, Effibar, NOVA Electrical Co., Entraco Bks Busducts Pvt. Ltd., Gersan Elektrik A.?.

Busbar Trunking Systems Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 764
  • Countries covered: 22
  • Pages: 570
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