Growing regulatory policies aiming at energy efficiency and conservation along with mounting investments to renovate the aging electrical infrastructure is anticipated to boost the Asia Pacific busbar trunking system market growth. Rapid industrialization owing to robust economic growth in conjunction with ongoing efforts to modernize the power distribution grid will strengthen the industry scenario.
Increasing replacement and refurbishment activities of traditional cabling systems is projected to drive the Sandwich market growth. Key features including easy installation, lowered costs, enhanced mechanical security and reduced space requirement will accelerate the equipment adoption. Substantial government financing toward infrastructure development and establishment of manufacturing industries is further set to augment the product deployment.
Growing need for reliable & continuous electricity supply coupled with shifting focus toward adoption of smart grids will propel the system installation. For instance, in 2017, the Government of India launched a scheme ‘Power for All’ that ensured proper electricity supply to all households by March 2019. Compact design, longer lifespan and reduced energy loss are amongst the main features positively influencing the business outlook.
Lighting is set to grow on account of reduced on-site installation time, simple mounting arrangement and better safety features. Rising demand for fault-free electricity distribution arrangement across false ceilings and raised floors is anticipated to boost the product deployment. In addition, increased government spending toward renovation of existing commercial establishments is set to complement the business scenario.
Key parameters including enhanced conductivity, high damage threshold and resilience to high temperatures will drive the copper busbar trunking system market growth. The product is anticipated to witness an upsurge in demand on account of low voltage drop per unit length & high current transmission with minimum losses. In addition, compact size coupled with flexible system design will boost the product penetration.
Commercial is projected to grow owing to escalating power demand & huge energy flows across various establishments including retail, healthcare, hospitality, societies and education. Growing focus toward usage of energy efficient appliances across several commercial utilities comprising business centers and shopping complexes to meet energy saving targets will strengthen the industry landscape.
Ongoing R&D, technological development & innovations to conform with the globally accepted standards and guidelines is set to drive the business growth. Corporations are actively participating in partnerships and M&As with global and local vendors to create growth prospects. Major players in the Market comprise Siemens, ABB, Schneider Electric, Legrand, Larsen & Toubro, General Electric, Eaton, C&S Electric, Godrej & Boyce, Naxso, ARJ Group, MK Electric, and Megabarre amongst others.