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Busbar Trunking System Market Set to Grow Significantly over the Forecasts period to 2017-2024
MaketStudyReport.com adds a New Busbar Trunking System Market Research Report for the period of 2017-2024 that shows the growth of the market is rising at a 7% CAGR to 2024.Lighting busbar trunking system market will witness strong growth prospects owing to its ease of installation and longevity over traditional cable tray systems. High flexibility along with the ability to suffice a wide range of residential and commercial businesses has led to a mass influx in the product demand. Global Busbar Trunking system Market will exceed USD 9 billion by 2024, according to this new research report.
Growing demand for reliable and cost-efficient distribution networks coupled with mounting investments toward rapid urbanization and industrialization across developing economies will drive the global busbar trunking system market. Ongoing electricity generation from power plants along with rapid deployment of the renewable energy will positively impact the business growth. High degree of fire safety along with low space requirements will further boost the product penetration.
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U.S. busbar trunking system market will reach over USD 1 billion by 2024. Replacement and refurbishment of outmoded cable networks to meet the needs of a low-carbon, digital economy has significantly favored the product adoption. In 2015, the Department of Energy (DOE) estimated an investment of over USD 2 Trillion for grid modernization in the U.S. for the next twenty years.
Rapid expansion of micro grid networks for decentralized electricity generation will proliferate the busbar trunking system market growth. Stringent government regulations to curb energy losses across residential, commercial and industrial establishments will further complement the business outlook.
Rising demand for distribution networks with capability of optimizing electricity supplies and reduce the overall electric losses will foster the busbar trunking system market growth. Rapid technological advancements along with inclination towards the integration of power cables into a single unit will further complement the business outlook.
Saudi Arabia busbar trunking system market in 2016 was valued over USD 200 million. Rapid infrastructure development along with positive outlook toward industrial sector has led to a robust industry growth. According to International Trade Administration, Saudi Arabia in 2016, has introduced investment plans of USD 14.7 Billion to develop transmission of electricity and over USD 13.7 Billion for distribution of electric power over the next decade.
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Aluminum busbar trunking system market will grow owing to the improved conductivity per mass ratio which reduces the overall project cost. Low fire load, low susceptibility to electromagnetic fields and superior aesthetic value are some of the key imperative features which will escalate the business growth.
Notable market players in the busbar trunking system market include Legrand, General Electric, ABB, Schneider Electric, Siemens, Eaton, Larsen & Toubro, ARJ Group, Megabarre, DBTS, C&S Electric, Godrej & Boyce, Naxso, Effibar and MK Electric.
Busbar Trunking Systems market research report includes in-depth coverage of the industry with estimates & forecast in terms USD from 2013 to 2024, for the following segments:
Busbar Trunking Systems Market, By Insulation:
Sandwich, Air-insulated
Busbar Trunking Systems Market, By Power Rating:
Lighting, Low, Medium, High.
Busbar Trunking Systems Market, By Conductor:
Copper, Aluminum
Busbar Trunking Systems Market, By Application:
Industrial, Power, Oil & Gas, Process, Transportation, Manufacturing, Commercial, Education, Retail, Hospitality, Societies, Healthcare, Utility, Others
The above information is provided on a regional basis for the following:
North America, U.S., Canada, Europe, Germany, UK, France, Spain, Italy, Russia, Asia Pacific, China, India, Japan, South Korea, Australia, Latin America, Brazil, Mexico, Argentina, Middle East and Africa, South Africa, Saudi Arabia.
For More Details of this Report: https://www.marketstudyreport.com/reports/busbar-trunking-system-market
Related Report:
Global Air Insulated Busbar Trunking System Market Professional Survey Report 2017
This report studies Air Insulated Busbar Trunking System in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions, from 2012 to 2016, and forecast to 2022.
https://www.marketstudyreport.com/reports/global-air-insulated-busbar-trunking-system-market-professional-survey-report-2017/?utm_source=RR-PSR
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