PUNE, India -- The report "Busbar Trunking Market by Power (Lighting, Low, Medium, & High), by Conductor (Copper & Aluminum), by Insulation, by End-User (Industrial, Commercial, Residential, Wind & Solar, Public Infrastructure and Transportation) - Global Trends & Forecast to 2020", The global Busbar Trunking System Market will grow from an estimated value of $6.46 Billion in 2015 to $9.17 Billion by 2020 with a CAGR of 7.04% from 2015 to 2020.
The market study on busbar trunking system defines and segments the market with regional forecast and segment revenue estimates till 2020. Top market players from the industry have been studied in order to track developments, technologies, and other key business strategies that define the market environment. Busbar trunking systems are considered as a replacement for cable tray systems as they are more energy efficient, reduces system costs, provides better operational flexibility, and improves reliability when compared to cable tray systems in an electrical network.
Asia-Pacific: The largest market for busbar trunking systems
The Asia-Pacific region holds the largest market for busbar trunking system, driven by huge investments in smart cities, green constructions, high-rise buildings and transportation infrastructure especially in the South East Asian region. The other major drivers include increasing power demand, industrialization and urbanization, and rapid development in the commercial sector in countries such as China, India, Japan, and South Korea.
Renewable power generation: Biggest market by application
Busbar trunking system is an important component in wind and solar based power generation. They are used for interconnection of wind turbines and solar panels with the nearby switchgear and it connects the switchgear to the transformers and vice versa. Currently, both developed and developing countries are making mandates to include wind energy in their generation mix that would increase the demand of busbar trunking systems.
The busbar trunking system industry is fragmented and offers several opportunities for consolidation and growth through an increase in economies of scale. The industry has low entry and exit barriers, which acts as a driver for the market. Top players of the busbar trunking system market are General Electric (U.S.), Eaton Corporation Plc. (Ireland), Schneider Electric SE (France), Legrand (France), and Siemens AG (Germany).
Browse 79 market data Tables and 76 Figures spread through 168 Pages and in-depth TOC on "Busbar Trunking Market" http://www.marketsandmarkets.com/Market-Reports/busbar-trunking-market-267448154.html?utm_source=PRnewswires&utm_medium=Referral&utm_campaign=PRnewswire
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