Global Busbar Trunking System Market

Busbar Trunking System Market Size, Share, Growth Analysis, By Material(Aluminium, Copper, Others), By Power Rating(Lighting, Low Voltage, Medium Voltage, High Voltage), By End Use(Commercial, Industrial, Transportation, Residential), By Region - Industry Forecast 2024-2031

Report ID: SQMIG55A2049 | Region: Global | Published Date: April, 2024
Pages: 165 | Tables: 95 | Figures: 76

Busbar Trunking System Market News

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Busbar Trunking System Market size was valued at USD 2.01 billion in 2019 and is poised to grow from USD 2.31 billion in 2023 to USD 3.06 billion by 2031, growing at a CAGR of 5.1% in the forecast period (2024-2031).

The Busbar Trunking Systems market is significantly consolidated, as tier-1 players or international players hold prominent shares in the global Busbar Trunking Systems market. Tier-2 and tier-3 players account for significant shares in their local or regional Busbar Trunking Systems markets. In developing locations, organised players are attempting to make their presence known. However, unorganized/tier-2 and tier-3 competitors in the market for Busbar Trunking Systems are concentrating on releasing fresh, unique products. 'Siemens AG', 'Schneider Electric', 'ABB Ltd.', 'Legrand SA', 'Eaton Corporation PLC', 'Larsen & Toubro', 'General Electric Company', 'C&S Electric Limited', 'Rittal GmbH & Co. KG', 'Anord Mardix Group', 'E+I Engineering Ltd.', 'Godrej & Boyce Mfg. Co. Ltd.', 'Megabarre Group', 'Naxso S.R.L.', 'Pogliano S.R.L.', 'DBTS Industries SDN BHD', 'P&S Power Technologies Ltd.', 'Naxso Heavy Electricals Pvt. Ltd.', 'DTM Elektroteknik A.S.', 'Cuthbertson Laird Group.'

Demand for stable and reliable supply for distribution of power is increasing

From about 214 quadrillion British thermal units in 2010 to over 240 quadrillion British thermal units, the industrial sector's energy usage increased by more than 12%. The energy used by the industrial sector accounts for more than half of all energy used worldwide. Busbar trunking has become indispensable as a result of the increased demand for energy and the requirement for a secure source of electricity.

According to regional analysis, the North American region is dominating the market. Although during the projection period, Asia-Pacific is anticipated to have the fastest rate of growth. Due to its rapid urbanisation, industrialisation, and population growth, Asia-Pacific is one of the world's areas with the quickest rates of growth. The need for a reliable power supply is therefore great. Many nations are making investments in the transmission and distribution network as well as the renewable energy industry to meet these demands.

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Global Busbar Trunking System Market

Report ID: SQMIG55A2049

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