Market Size of Busbar Trunking Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Busbar Trunking System Market Analysis
The busbar trunking market is expected to grow at a CAGR of more than 5% over the forecast period (2022-2027).
The market was negatively impacted by the Covid-19 pandemic, as many industrial projects were stalled due to the unfavourable economic atmosphere. However, the market has since rebounded, and the market is expected to grow steadily during the forecast period.
- Factors such as an increase in power consumption and technical advantages of busbar trunking, especially in the industrial sector, are expected to drive the market during the forecast period.
- On the flip side, the high cost of busbar trunking systems, making them unviable for small and medium enterprises is likely to restrain the growth of the busbar trunking market in the coming years.
- However, globally, the focus has increased on investments in clean energy projects and the development of smart cities. As a result, the extensive development of new renewable projects and the development of green constructions are likely to create an excellent opportunity for the busbar trunking market in the future.
