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Technavio’s market research analyst predicts the global busbar trunking system market to grow steadily at a CAGR of above 6% by 2021. One of the primary drivers for this market is the exponential rise in the demand for power. The demand for power drives the need for more transmission and distribution (T&D) networks which will, in turn, increase the demand for busbars. The residential, industrial, and commercial sectors consume a large amount of power. For instance, in the residential sector, power is consumed by cooling, lighting, and for running appliances and equipment. Also, it is observed that the income levels of individuals are highly indicative of consumption patterns. Moreover, the transport sector is experiencing considerable growth in the consumption of electricity both in the developed and developing nations. In the developed nations, there is a constant urge to make technological innovations that help in the expansion of the transport sector; for example, the change in trend from self-drive cars to driverless cars. In the developing nations, the expansion in the transport sector is improving connectivity and raising the living standards of people. This rising demand for electricity in almost all the industries across the globe will propel the growth of the busbar trunking system market during the forecast period.
One of the latest trends gaining traction in this market is the increasing number of data centers. Busbar trunking system is used largely for power distribution to data centers. The number of data centers has seen a substantial increase in the last few years and is expected to rise in the future. Over the past few years, it is observed that urbanization, industrialization, and mechanization have led to an increased need for creating business models, improve products, and maintain a healthy relationship with customers. This demand for such complex operations creates a need for a platform that is dependable and can perform such operations with speed and flexibility. Consequently, the adoption of data centers is expected to grow at a significantly high rate, this, in turn, will augment growth in the global busbar trunking system market in the coming years.
The global busbar trunking system market is highly fragmented due to the presence of a large number of small and regional vendors in the market. To gain a competitive advantage, a number of players are investing heavily in and emphasizing on strategies to carry out further research to develop innovative products. With more efficient and cost effective product entering the market, the competition is expected to increase in the next few years.
The report offers a detailed analysis of several leading companies, including:
Other prominent vendors in the busbar trunking system market include Eaton, L&T, C&S Electric, Pogliano, DBTS Industries, Elbagate, Busbar Services, Jiangsu Wetown Busway, Shanghai Zhenda, Superior Electric, Delta Electric, and Mersen.
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During 2016, the power generation sector dominated the busbar trunking system market and accounted for a major part of the overall market share. The upsurge in the construction of renewable energy sources has boosted the demand for busbar trunking system market across the globe.
In this market study, analysts have estimated the APAC to dominate the busbar trunking system market during the forecast period. Factors such as the growing populations and changing trends of urbanization and industrialization are the key contributors to the dominance of the busbar trunking system market in the region.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by end-user
PART 07: Geographical segmentation
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
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