Global Busbar Trunking Systems Market Analysis Report 2023-2030 - New Innovations Allow Busbar Trunking Systems to Carry Data as Well as Power
DUBLIN, Nov. 30, 2023 /PRNewswire/ -- The "Busbar Trunking Systems - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Busbar Trunking Systems Market to Reach $10.6 Billion by 2030
The global market for Busbar Trunking Systems estimated at US$6.7 Billion in the year 2022, is projected to reach a revised size of US$10.6 Billion by 2030, growing at a CAGR of 5.9% over the analysis period 2022-2030. Sandwich, one of the segments analyzed in the report, is projected to record 6.1% CAGR and reach US$7.1 Billion by the end of the analysis period. Growth in the Air segment is estimated at 5.6% CAGR for the next 8-year period.
The proliferation of electronic equipment in the digitalization wave is driving the growth of busbar trunking systems. As global spending on digital transformation continues to rise, the demand for efficient power distribution solutions like busbar trunking systems is on the rise.
In this competitive market, various key competitors are vying for market share in 2023, reflecting the dynamic landscape of busbar trunking systems. Recent market activity indicates the ongoing developments and strategies within the industry as players seek to capitalize on the growing demand for these systems.
The U.S. Market is Estimated at $1.3 Billion, While China is Forecast to Grow at 7.5% CAGR
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 5.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5.1% CAGR.
FOCUS ON SELECT PLAYERS (Total 82 Featured)
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SOURCE Research and Markets