The busbar trunking system market size is set to surpass 3 billion USD by 2025, according to Global Market Insights.
Stringent government regulations to curtail transmission and distribution losses, along with increasing demand for uninterrupted and reliable electricity supply will drive the market growth.
Increasing adoption of smart grids, coupled with accelerating investments toward infrastructural development will also stimulate industry growth. For instance, Saudi Arabia has planned to invest $1.1 trillion on infrastructure projects from 2019 to 2038.
The ability to offer high flexibility, easy installation, and customised design will also fuel the sandwich busbar trunking system market.
Furthermore, driving product adoption is the increasing demand for the replacement of traditional cable systems for power distribution, coupled with the ability of these systems to effectively utilise space.
In 2018, the the U.S. market was over USD 250 million. Looking ahead, a combination of rising demand to replace obsolete power cables, in addition to regulatory measures to modernise existing grid infrastructure is set to propel industry outlook.
Extensive applicability across industrial and commercial establishment, on account of low fire load and high degree of flexibility, will further stimulate the low busbar trunking system market.
High suitability across airports, shopping complexes, logistic storage and warehouses, railway stations, and production/storage spaces on account of providing hassle free power distribution will also enhance industry dynamics.
The busbar trunking system market from aluminium will grow over 11% by 2025, and the ability to carry heavy loads over long distances (along with their cost compatibility) will continue to drive product adoption.
Continual technical improvements in the quality of these systems to enhance environmental credentials will also complement business outlook.
Addtionally, rapid industrialisation along with increasing demand for power across emerging economies will stimulate the market.
In 2016, data centres consumed around 416 terawatts (3% of the total electricity) globally, nearly 40% more than the consumption of the entire United Kingdom.
The increasing electricity demand from a growing number of data centres, along with enhanced government efforts to modernise the existing transmission networks will be another factor impacting the business landscape.
The European market is anticipated to expand over 8% by 2025, with growing emphasis on the adoption of energy efficient systems to curb T&D losses, along with increasing electricity consumption.
In 2017, electricity consumption grew by 0.7%, marking an increase for the third consecutive year. Furthermore, the European Union (EU) has set an energy saving target of 20% by 2020 to meet the burgeoning electricity demand.
Key players operating in the industry include: Godrej, Schneider Electric, Eaton. Larsen & Toubro, Legrand, Siemens, General Electric, C&S Electric, Naxso, Megabarre, Effibar and DBTS.