ABB, Ltd. (Switzerland) and Siemens AG (Germany) are the Few Global Players in the Busbar Trunking System Market
The global busbar trunking system market is projected to grow at a CAGR of 6.88%, from 2017 to 2022. Asia-Pacific is estimated to be the largest market for busbar trunking system, followed by North America in 2017. This trend is expected to continue till 2022. The growth of the busbar trunking system market is driven by the increasing demand for electricity, spaces constraints in multi-storey buildings, and increased adoption of energy efficient practices. Several government initiatives also focused on saving electricity, which is expected to boost the market for busbar trunking system.
The busbar trunking system market is dominated by a few global players. The key players operating in this market include ABB, Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric (France), General Electric (U.S.), and Eaton Corporation, Plc (Ireland).
Major strategies adopted by the players include contracts & agreements, new product launches, expansions, and mergers & acquisitions. Contracts & agreements was the most commonly adopted strategy from 2013 to February 2017. Industry players also adopted new product developments and expansions, which were the second most widely followed strategies, during the same period.
ABB, Ltd. is a leading power and automation technology company offering wide range of products, services, and system. It offers products, solutions, services, and systems to utilities, industrial, infrastructure, and transportation customers. The company operates under four divisions namely, power grids, industrial automation, robotics and motion, and electrification products. The electrification products division provides solutions across the full electrical value chain. The company has comprehensive low voltage as well as medium voltage portfolio which includes various products such as indoor and outdoor circuit breakers, re-closers, fuses, contactors, relays, instrument transformers, sensors, motor control centers, busbar trunking systems, ring main units, air insulated switchgears, and gas insulated switchgears. In 2015, the company opened a manufacturing site for its low voltage products division in Memphis, Tennessee. This manufacturing site is a part of company’s ‘Next Level Strategy’, where the company focused on expanding its low voltage segment in the U.S.
Siemens AG is a manufacturing and engineering company. It offers products and services in the field of electrification, automation, and digitalization. It operates in nine segments, namely, power & gas, wind power & renewables, energy management, building technologies, mobility, digital factory, process industries & drives, healthcare, and financial services. It offers busbar trunking systems under the energy management segment. The company operates through 289 production and manufacturing plants worldwide. It has a global presence through strong network of regional offices, warehouses, R&D development facilities, and sales offices. In 2015, it signed a contract with Sudzucker AG (Germany) to supply primary power supply system for sugar factory in Zeitz and to supply power distribution systems for a new wheat starch plant. This contract includes the delivery of high-medium-and low voltage switchgear, transformers, the grid control systems, protective devices, and busbar trunking system.
Related Reports:
Busbar Trunking System Market by End-User (Industrial, Commercial, Large Residential, and Transportation), Power Rating (Lighting, Low, Medium, and High), Conductor (Copper and Aluminum), Insulation (Air and Sandwich), and by Low Voltage Segment - Global Forecast to 2022
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