Posted On: 2020-03-24
Industrial application acquired the largest revenue share in the overall global bus duct trunking system market in 2019 – 6Wresearch
Global bus duct trunking system market is anticipated to grow at a rapid pace over the coming years, as the construction activities in the Asia Pacific and Middle East region continue to gain momentum. Furthermore, adoption of smart grids and green buildings globally would result in widespread demand for bust duct trunking system during the forecast period.
According to 6Wresearch, Global Bus Duct Trunking System Market size is projected to grow at a CAGR of 4.2% during 2020-25. Increasing focus towards energy conservation and growing adoption of smart grid across the world would drive the demand for bus duct turning system over the coming years. Furthermore, modernization and integration of bus duct trunking system in existing buildings by replacement of wired connectivity would open new avenues for the application of bus duct trunking system market.
According to Akshay Thakur, Senior Research Analyst, Research and Consulting, 6Wresearch, “By applications, industrial sector dominated the market revenue share as the market for bus duct trunking system remain largely driven by widespread usage in industrial spaces. Additionally, rising industrial sector in the Asia Pacific region would supplement this growth during the forecast period. Further, commercial application is anticipated to show strong growth on account of rapid development of data centers and AI labs globally which would also bode well for the demand for bus duct trunking system over the years to come.”
According to Sahil Sharma, Research Associate, Research and Consulting, 6Wresearch, “By regions, the Asia Pacific region acquired the largest market revenue share in the overall global bus duct trunking system market owing to the region’s rapid pace of industrialization and urbanization. Additionally, plethora of upcoming infrastructure projects in the region such as Shanghai metro, Beijing New Airport and Jewar Airport would support the demand for bus duct trunking system over the coming years. Furthermore, the Americas region is anticipated to witness sustained growth over the coming years on account of installations of smart grids and upgradation of power transmission and distribution system.”Some of the major companies in Global bus duct trunking market include Eaton, Siemens, ABB and GE.
"Global Bus Duct Trunking System Market (2020-2025)" report provides an in-depth analysis with 199 figures covered in 291 pages. The report estimates and forecast the overall global bus duct trunking system market by insulation, conductor, power range, application and regions. The report provides an unbiased and detailed analysis of the global bus duct trunking market on-going trends, outlook, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.