Global Busbar Trunking System Market to reach over $11.7 billion by 2034

From GlobeNewswire: 2024-10-14 06:30:00

The global Busbar Trunking System Market is estimated to reach US$ 6,520.2 million in 2024 with a projected 6.1% CAGR through 2034, expected to exceed US$ 11,787.3 million. Factors driving growth include increased demand for efficient power distribution, renewable energy use, smart grid infrastructure, and technological advancements. However, high initial installation costs pose a limitation.

Key Takeaways reveal that North America’s market is set to grow at 6.3% CAGR, the US at 6.1%, and China at 6.8% through 2034. The diesel engine application segment holds the largest market share. Leading players like General Electric, Legrand, and Schneider Electric are driving innovation. Industry news includes ABB’s strategic acquisitions to strengthen its position in the electrification market.

Segmentation of the Busbar Trunking System Market includes product types such as low voltage and medium voltage systems, and applications like gasoline and diesel engines. Related studies by Fact.MR cover markets like fire protection systems, land survey equipment, acoustic emission-based NDT, bandsaw machines, and construction equipment rentals. Fact.MR is committed to providing accurate market intelligence for informed decision-making and long-term success.



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