March 13, 2020
According to a recent study titled ‘North America Busbar Trunking System Market Size By Power Rating, Insulation, Conductor, Application, Country Outlook, Industry Size, Share, Growth Trends & Forecast, 2019 - 2025’, available with Market Study Report LLC, the North America busbar trunking system market is expected to exceed USD 600 million by the year 2025.
Upgradation of existing electric grid infrastructure and growing focus towards adoption of energy efficient systems owing to cost-saving benefits will drive North America busbar trunking system industry growth. In 2018, the Government of Canada planned an investment of USD 4.75 million for upgradation of the electric grid of Saskatchewan.
Infusing of such government investment may essentially boost product demand. Apart from this, increasing emphasis on energy conservation, growing power demand and rising need to maintain huge power flows across the commercial sector will further enhance market outlook.
Based on the conductor type, the aluminum busbar trunking systems market is anticipated to accrue considerably demand over the forecast period. Aluminum conductors are capable of transferring heavy electrical loads over long distances in a cost-effective manner compared to counterparts. Properties like low weight, high thermal stability, and economical transportation are encouraging the product’s adoption.
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As per power rating, high-power busbar trunking system are projected to witness rapid growth. Increased product demand owing to rapid industrial developments and increasing investments made towards the refurbishment and upgradation of commercial facilities may boost product penetration. In addition, the ability of these systems to transmit high power with lower power loss and voltage drops may encourage segment growth.
In terms of insulation, busbar trunking system market of North America is bifurcated into sandwich and air insulated systems. Air-insulated busbar trunking systems are expected to see momentous demand on account of its capability to withstand high currents, especially in case of short circuits. Increasing government funding for the development of commercial and industrial spaces is expected to further augment product traction in North America.
Considering the geographical landscape, the busbar trunking system market of U.S is anticipated to exhibit strong growth through 2025. Increasing government initiatives to replace aged power distribution cable systems with newer solutions given to the financial benefits associated with them would propel busbar trunking systems demand in the U.S. Rising demand for energy-efficient solutions to address power outages caused due frequent catastrophic events and increasing focus towards improving energy security may bolster U.S. busbar trunking system industry share.
Prominent players operating in busbar trunking system market of North America include Siemens, Larsen & Toubro, General Electric, Eaton, Schneider Electric, Legrand, ABB, Naxso, Entraco, and Anord Mardix.
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