23-Nov-2021 | Zion Market Research
Major companies in Busbar Trunking market are ABB Ltd., Larsen & Toubro, Schneider Electric Eaton Corporation, Plc, Siemens AG, Legrand SA, General Electric, C&S Electric Limited, and Godrej & Boyce Manufacturing Company Limited.
According to analysts at Zion Market Research, the Global Busbar Trunking Market accounted for USD more than 6.97 Billion in 2020 and is expected to reach more than USD 12.16 Billion by 2028, growing at a CAGR of more than 7.2% from 2021 to 2028.
This review is based on a report by Zion Market Research, titled “Busbar Trunking Market By Conductor (Aluminum and Copper), By Power Ratings (Low Power Range, High Power Range, Lighting Power Range and Medium Power Range), By Insulation (Sandwich Insulation and Air Insulation) By End Use Industry (Process Industry, Renewable Power Generation, Public Infrastructure, Manufacturing Industry, Commercial, Large Residential and Transportation) and By Region: Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”
Insufficient space in multi stored buildings to Spur Growth
The driving factor for the Global Busbar Trunking Market growth is the insufficient space in multi-stored buildings and special attention towards the energy efficient methods owing to the strict government laws that initiate the electricity to be used efficiently. Other factors attracting the end users towards the global market include the technical enhancements and the operational efficiency. Factor such as the global power generation has integrated the power of wind technology for the development of the green cities, which is boosting the Global Busbar Trunking Market growth. There are some restraining factors impacting the market growth such as the small and medium enterprises are getting limited benefits so the fluctuating prices of the raw materials act as a hindrance to the market growth. The other factor is the high capital cost hampering the growth of the market.
Urbanisation and Industrialization in the region support Asia Pacific dominance
The region dominating the busbar trunking market is Asia Pacific. This growth can be attributed to the factors such as urbanization and industrialization. The other regions that are following this growth include North America and Europe. In the Asia Pacific region, the favourable factors contributing to the market growth include green constructions, the large investments in the smart cities, green constructions, transportation and the high-rise buildings. The developing countries in Asia Pacific such as China, Japan, India and South Korea are making rapid developments in the commercial sector; hence, there is an increase in the power demand and industrialization and urbanization are the factors fueling the busbar trunking market growth.
Browse the full “Busbar Trunking Market By Conductor (Aluminum and Copper), By Power Ratings (Low Power Range, High Power Range, Lighting Power Range and Medium Power Range), By Insulation (Sandwich Insulation and Air Insulation), By End Use Industry (Process Industry, Renewable Power Generation, Public Infrastructure, Manufacturing Industry, Commercial, Large Residential and Transportation) and By Region: Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/busbar-trunking-market
The Global Busbar Trunking Market is segmented as follows:
By Power Rating
By End Use Industry
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