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Busbar Trunking Systems Market Segmented By Air Insulated, Non-Segregated Duct, Sandwich, Cast Resin Low Voltage Rated Busbar Trunking Systems and Medium Voltage Rated Busbar Trunking Systems with Copper, Aluminum Conductor Material in Gasoline Engines and Diesel Engines
The global busbar trunking systems market generated the revenue of approximately US$ 5 Bn in 2017, which is expected to grow at a healthy CAGR of 6.6% during the forecast period, 2018-2026.
Increasing automation in end-use industries and the high rate of compliance to the ICE (the International Electrotechnical Commission) standards for improved safety and operational life are a couple of primary factors that are expected to create significant opportunities for the manufacturers of busbar trunking systems over the projected period.
A busbar trunking system keeps the gas in the tank and prevent it from evaporating, as gasoline has a tendency to evaporate at fairly low temperatures. It is estimated that, around 20% of vehicular emission is the result of evaporation. Thus, the federal government has imposed regulations in order to prevent the evaporation of gas in the atmosphere.
Steel busbar trunking systems are thus expected gain traction in the market, as manufacturers are adopting advanced piston rings for vehicle engines to meet government standards such as the Euro 6 environmental standard that aims to reduce vehicle emission, in particular, NOx (Nitrogen Oxide) and particulate matter. These factors are expected to fuel the growth of the busbar trunking systems market.
Automotive, construction, electronic, machining, oil & gas, and chemical processing industries, among others, represent potential growth opportunities for the manufacturers of BBT systems. Emerging economies such ASEAN, Brazil, China, and India are driving construction and industrialization, globally, which, in turn, is expected accelerate the growth of the busbar trunking systems market.
Busbar trunking systems find application in multiple end-use industries, especially the textile industry and power plants, as these systems are compact in size and provide a single run for multiple circuits. Moreover, these systems require shorter installation time as compared to cables, and have minimum operating costs. These factors are expected to propel the demand for BBT systems in end-use industries such as oil & gas, commercial sector, and high rise buildings.
The construction industry is expected to boom more in certain countries/regions, such as ASEAN and India, as compared to developed economies. This can be mainly attributed to increasing urbanization and stable economic conditions in these regions.
Rising urbanization, leading to new infrastructure and commercial activities, is further expected to boost the demand for smart power distribution systems. Increase in the demand for smart power distribution systems will further give traction to the growth of the busbar trunking systems market.
The global busbar trunking systems market is fairly consolidated, with key manufacturers accounting for a substantial market share, as of 2017. In the recent past, the busbar trunking systems market has witnessed compelling advancements from key players such as Siemens, ABB, Eaton, Schneider Electric, and LS Cables & Systems, among others.
Furthermore, key manufacturers in the global busbar trunking systems market are significantly focusing on mergers and acquisitions in order to increase their presence in the global busbar trunking systems market. These key developments are expected to boost the growth of the busbar trunking systems market over the forecast period.
The busbar trunking systems market is significantly consolidated, as tier-1 players or international players hold prominent shares in the global busbar trunking systems market. Tier-2 and tier-3 players account for significant shares in their local or regional busbar trunking systems markets.
Organized players are trying to establish their footprints in developing regions. However, unorganized/tier-2 and 3 players in the busbar trunking systems market are focusing on launching new and differentiated products.
During the course of research, we have conducted deep-dive analysis to develop a unique research methodology.
Some of the key market participants reported in this study on the busbar trunking systems market are ABB, ALFA Technologies Pvt Ltd, Anord Mardix Inc., C&S Electric, DAVIS, DBTS Industries Sdn Bhd, DKC Europe s.r.l., DTM Elektroteknik A.S., Dynamic Electrical Sdn Bhd, E+I Engineering (Powerbar), EAE Elektrik, Eaton, Effibar, Elecsis Ltd., Energypac Power generation Ltd., Entraco BKS, Furutec Electrical Sdn Bhd, Gersan Elektrik A.S., Godrej Industries Ltd., Graziadio, IBAR EMEA Ltd., KYODO KY-TEC Corp, Larsen & Toubro Limited, Lectobar, Legrand, LINKK Busway Systems (M) Sdn Bhd, LS Cable & System Ltd., MEGABARRE EUROPE SRL, NATUS GmbH & Co. KG, NAXSO S.r.l., NISSIN ELECTRIC Co., Ltd., Pogliano BusBar s.r.l., Power Plug Busduct Sdn. Bhd., RTC-ELECTRO-M Ltd., Schneider Electric, SIEMENS AG, Stardrive Busducts Ltd., TAIAN-ECOBAR TECHNOLOGY, Vass Electrical Systems, and WEG, among others.