Urology Surgical Market: Industry Research Report 2018-2025 Busway Market | Page 3

Busway Market Publication Month: Feb 2017 | No. of Pages: 224| Report Code: TIPTE100000372 | Category: Electronics and Semiconductor Key trend which will predominantly effect the busway 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 segment 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. Busway market by application is segmented as into air splicing busway (BMC), intensive insulation plug 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. E-Mail : [email protected]