Busway also known as Bus duct and bus bar Trucking System is a sheet metal duct containing either copper or aluminum bus bars for the purpose of conducting a substantial current of electricity. It is an alternative of conducting electricity to power cables or cable bus. Busway enable the stakeholders particularly, end-user from residential, commercial and industrial sector to enhance power carrying efficiency, reduce costs related to installation, reduction in down time, improved end-user experience, and with less complexity in maintenance. Busway applications in different sector are replacing the tradition wire cable use with advanced technology. APAC and Middle East, being emerging economy witnessed highest growth rate in near future. Global busway market is expected to grow from US$ 5.66 billion in 2015 to US$ 10.81 billion by 2025 at a CAGR of 6.66% between 2016 and 2025.
The report focuses on an in-depth segmentation of this market based by type, application, and geography. The geographic segmentation of the report covers six major regions including; North Americas, Europe, Asia-Pacific (APAC), Middle East (ME), Africa and South America (SA). The regional market has been further bifurcated by respective countries. By application segment, industrial infrastructure sector accounted for the largest share of the busway market in 2015 and expected to grow at highest CAGR also; whereas, others segment including renewable energy and transportation is expected to grow at the second highest CAGR during the forecast period.
The report aims to provide an overview of global busway market with detailed market segmentation. Also, it study the current Busway market scenario and forecasts the market till 2025. The report covers market dynamics effecting the market during the forecast period. Furthermore, the report study the competitive scenario, geographic trends, and opportunities in the markets with respect to all geographic regions. The report also includes the detailed company profiles of the key players in the market along with their market strategies. The report also provide porter’s five forces study and SWOT study for all company profiled in the report.
APAC is one of the significant regions in busway market which will contribute highest revenue globally due to industrialization, urbanization and considerable implementation of busway system in different application segment. Rapidly growing economies in Asia-Pacific (APAC) with significant growth in commercial and residential construction will pave the path for increasing adoption and propel the market for Busway. The region is expected to lead the market with highest CAGR during the forecast period. Some of the key players of Busway market include Schneider Electric, Siemens AG, GE, Eaton, LS Cables, PPB Group, ABB LTD., Powell Industries, Honeywell International, Universal Electric Corp., C&S Electric, Furukawa Electric, Brilltech, DAQO Group, and Asian Power System are among others.
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