Accrediting the seminal work of the key vendors and the kind of traction the market is garnering currently demonstrating the growth prospects worldwide, Market Research Future has recently published a study report, according to which the Global Busbar Trunking System Market is estimated to ascend enormously by 2023registering a CAGR of 6.5% during 2017 to 2023.
Increasing number of data centers, modern industrialization and multifunctional mega structures which consist of residential and commercial buildings has led in the advancement of smart electrical systems which inhibits efficient and effective energy system in a firm. Such factors inhibits the growing demand of busbar trunking system in the industry. Busbar trunking system market is driven by factors, such as growing demand of electricity, workplace space constraint and working conditions, stringent government rules and regulations. Increasing energy consumption in various industrial, commercial and residential sectors account for rising growth of busbar trunking system market. Fluctuations in the cost of raw materials coupled with high manufacturing costs are expected to restrain the growth of busbar trunking market.
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Industry/ Innovation/ Related News:
January 17, 2018 – Bilby Plc. announced buying of ‘Rating Kept’ by Northland Capital, the firm also provides electrical services comprising lateral main, bus bar systems, small power, lighting, trunking, conduit, process circuits, emergency lighting, fire alarm, security alarm, CCTV, door entry systems, lightning protection, building management control systems, etc.
July 07, 2017 – Legrand UK & Ireland announced launching of a new tap-off box specifically designed to meet the space-saving demands of urban high-rise developments. Intended for use when multiple cut-out fuses are required, to enable sub circuits to be isolated without having to fully isolate the entire unit, the pre-configured fuse board is housed within a tap-off box that plugs straight onto the rising main busbar system.
October 01, 2017 – Schneider Electric, the global specialist in energy management and automation, introduced Canalis KR, busbar trunking for high-power distribution in harsh environments and critical applications. The new busbar trunking solution can be installed almost anywhere and its innovative design means power can now be distributed to places where it would not have been cost effective, or even possible before. The solution can be installed edgewise, flat or vertically without derating, including through floor slabs or fire barrier walls. The flexibility of the solution delivers reductions in installation costs, time and upheaval.
Worldwide Busbar Trunking System Market – Competitive Analysis
The Market of Busbar Trunking System appears to be competitive owing to the presence of numerous well-established players having international and global presence. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for the leading players. The market will witness intensified competition with an increase in R&D innovations and M&A.
The key players of Global Busbar Trunking System Markets are
- ABB, Ltd. (Switzerland),
- ABB, Ltd. (Switzerland),
- Schneider Electric (France).
- Eaton Corporation, Plc (Ireland),
- Larsen & Toubro (India),
- Siemens AG (Germany),
- General Electric (U.S.),
- C&S Electric Limited (India),
- Legrand SA (France),
- Godrej & Boyce Manufacturing Company Limited (India),
- Busbar Services (South Africa)
- DBTS Industries SDN. BHD. (Malaysia)
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Market Research Analysis
Currently, Asia-Pacific is expected to maintain its high market for busbar trunking system process. This is mainly due to the fact that many operational trials, projects, industrialization and urbanization have been carried out in the region specifically in India and China. Similarly, Middle East, Africa & Europe remains a very significant market since it comprises of many manufacturing units in the region over the past decade.
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