Busway Market is expected to grow US$ 10.81 billion by 2025 from US$ 5.66 billion in 2015. Cloud deployment model expected to continue its dominance. Currently, approx. 70% of the global busway market is captured by industrial, renewable energy, transportation market. Rise in industrialization especially in emerging countries such as India and China are driving the market. Automation also plays an important role in industrialization sector as manufacturing units need more power supply for automated plants.
Key trend which will predominantly effect the market in coming year is growing busway application in retrofitting of transmission and distribution channel of power supply. A trend that will likely take the busway market further is the overall utility sector transformation. This includes retrofit market or upgradation of old infrastructure and grid modernization.
Upgrading aging infrastructure is expected to be one of the leading market segments in near future. Since most of the developed nations have power grid constructed about 40 to 50 years old and therefore most of them need upgradation. In 2016, IOUs spent about $44 billion for upgradation of the electric transmission and distribution system and modernizing the grid with new technologies.
Get Sample Copy of this Report @ https://www.bigmarketresearch.com/request-sample/3206707?utm_source=ITR&utm_medium=Nilesh
Busway market by application is segmented as into air splicing busway (BMC), intensive insulation plugs busway (CMC), high strength enclosed busway (CFW) and others. The growing high rise building in urban areas of developing economies are some of the trends contributing to the growing busway market. Almost all the end-user application segment are switching to busway from cables to meet their high efficiency and less complex power supply need.
The overall market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis.
The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the busway industry.
Get Discount of this Report @ https://www.bigmarketresearch.com/request-for-discount/3206707?utm_source=ITR&utm_medium=Nilesh
Big Market Research has a range of research reports from various publishers across the world. Our database of reports of various market categories and sub-categories would help to find the exact report you may be looking for.
Mr. Abhishek Paliwal
Big Market Research
5933 NE Win Sivers Drive, #205, Portland,
OR 97220 United States
Toll Free: +1-800-910-6452