The global busway market accounted for US$ 5663.0 Million in 2015 and is expected to grow at a CAGR of 6.66% during the forecast period 2016 - 2025, to account for US$ 10811.7 Million in 2025.
Within this market, various regions are observed to exhibit different growth trends. The North America (NA) and Europe (EU) are matured market and therefore comprise major share of overall market, however, the developing nations in geographic areas such as Asia Pacific (APAC), Middle East and Africa (ME), Africa and South America (SAM) are exhibiting a high growth due to various factors such as increase in number of new industries and infrastructure and its need for electrification. Adoptions of Busway is expected to accelerate at a high growth rate in the coming few years due to, growing number of power grid and development in renewable energy plants in almost all over the globe. Its various advantage over cable wiring is attracting end-user from different sectors such as industrial, data centers, transportation and residential sector, and therefore influencing the market revenues and growth rates globally.
Busway Lucrative Regional Markets
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Market Insights
Rising demand of power conservation system with increasing number of smart cities and green constructions
With the growing number of smart cities around the globe, the need for new and intelligent infrastructure to meet the advanced requirements of residents and businesses is also increasing. An effective way to support these city goals is by using technology which supports power conservation, and optimize and control key systems and infrastructure. The growing number of smart cities and green constructions is influencing the busway market congruently.
Apart from this, market is projected to witness a high growth on the account of increasing substantially big residential and construction activities, and up-gradation of electrical power distribution infrastructure in commercial and industrial sector. It is expected that by 2050, more than two-third of world population will be living in cities and these cities will be fully electrified. This increase in power transmission will boost the busway market as well, which is primary choice for power transmission and distribution among various end-user especially those in high-rise buildings and industrial premises.
Besides this, green constructions are also supporting efficient power distribution and power conservation, specifically, with the usage of compact and advanced equipment such as busway to distribute electricity efficiently throughout the facility.
Rising electrification in emerging countries will influence the busway market
Access to electricity is particularly crucial to county development, as certain signification applications such as industrialization, residential and commercial applications. Electrification can help achieve economic and social objectives. The International Energy Agency (IEA) estimates that 1.5 billion people lacked access to electricity in 2008, more than one-fifth of the world’s population. Approx. 85% of those without electricity live in rural areas, mainly in Sub-Saharan Africa and South Asia.
Considerable progress has been made with government initiative in these developing countries. Achieving sustainable universal electricity access by 2030 is one of the important global target and this will influence the busway market in positive aspect. It is evident that an even stronger focus on electricity access will be seen in coming year to meet the needs of the low electrification and overcome this constraint on development.
Busway Market by Region
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Busway Market: Strategic Insights
Market Size Value in US$ 5663.0 Million in 2015 Market Size Value by US$ 10811.7 Million by 2025 Growth rate CAGR of 6.66% from 2016-2025 Forecast Period 2016-2025 Base Year 2016
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Busway Market: Strategic Insights
| Market Size Value in | US$ 5663.0 Million in 2015 |
| Market Size Value by | US$ 10811.7 Million by 2025 |
| Growth rate | CAGR of 6.66% from 2016-2025 |
| Forecast Period | 2016-2025 |
| Base Year | 2016 |
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Few of the recent strategies by some of the players in busway market landscape are listed below-
2017:ABB in partnership with POWERGRID India was awarded a project contract to deliver transmission link in order to distribute electricity to more than 80Mn people with the project cost estimated to be worth US$ 640 Mn.
2017:The tiny houser project that was developed by Home Builder Institute in Florida, Orlando would deploy electrical solutions from power management company Eaton.
2016:ABB supplied low voltage power distribution solutions to the new car manufacturing factory of Renault-Nissan and Daimler’s strategic joint venture located in Aguascalientes, Mexico.
The report segments the global busway market are as follows:
Busway Market – By Type
- Air Splicing Busway (BMC)
- Intensive Insulation Plug Busway (CMC)
- High Strength Enclosed Busway (CFW)
- Others
Busway Market – By Application
- Commercial Building
- Residential Building
- Industrial Infrastructure
- Others
Busway Market – By Geography
North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- Italy
- U.K.
- Rest of Europe
Asia Pacific (APAC)
- Vietnam
- Indonesia
- Hong Kong
- Macau
- Singapore
- Rest of APAC
Middle East & Africa (MEA)
- Saudi Arabia
- U.A.E.
- Rest of MEA
Africa
- Kenya
- South Africa
- Rest of Africa
- South America (SAM)
- Brazil
- Rest of SAM
Global Busway Market - Company Profiles
- Schneider Electric SE
- Siemens AG
- General Electric Company
- Eaton Corp. PLC
- LS Cable & System Ltd.
- Power Plug Busduct Sdn Bhd
- ABB Ltd.
- Powell Industries, Inc.
- Honeywell International Inc.
- Universal Electric Corporation
- C&S Electric Limited
- Furukawa Electric Co., Ltd.
- Brilltech
- DAQO GROUP
- Asian Power Systems (I) Pvt. Ltd.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Types , and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
1.1 List of Tables
1.2 List of Figures
2 Introduction
2.1 Scope of Study
2.2 The Insight Partners Research Report Guidance
3 Key Takeaways
4 Market Landscape
4.1 Overview
4.2 Market Segmentation
4.2.1 Global Busway Market – By Types
4.2.2 Global Busway Market – By Applications
4.2.3 Global Busway Market – By Geography
4.3 PEST Analysis
4.3.1 North America PEST Analysis
4.3.2 Europe PEST Analysis
4.3.3 APAC PEST Analysis
4.3.4 Middle-East PEST Analysis
4.3.5 Africa PEST Analysis
4.3.6 South America PEST Analysis
5 Global Busway Market – Key Industry Dynamics
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6 Busway Market Analysis- Global
6.1 Global Busway Market Overview
6.2 Global Busway Market Forecast and Analysis
7 Global Busway Market Revenue and Forecasts to 2025 –Types
7.1 Overview
7.2 Air Splicing Busway (BMC)
7.2.1 Overview
7.2.2 Global Air Splicing Busway (BMC) Market Revenue and Forecasts to 2025 (US$ Mn)
7.3 Intensive Insulation Plug Busway (CMC)
7.3.1 Overview
7.3.2 Global Intensive Insulation Plug Busway (CMC) Market Revenue and Forecasts to 2025 (US$ Mn)
7.4 High Strength Enclosed Busway (CFW)
7.4.1 Overview
7.4.2 Global High Strength Enclosed Busway (CFW) Market Revenue and Forecasts to 2025 (US$ Mn)
7.5 Others
7.5.1 Overview
7.5.2 Global Others Market Revenue and Forecasts to 2025 (US$ Mn)
8 Global Busway Market Revenue and Forecasts to 2025 – Application
8.1 Overview
8.2 Commercial Building
8.2.1 Overview
8.2.2 Global Commercial Building Market Revenue and Forecasts to 2025 (US$ Mn)
8.3 Residential Building
8.3.1 Overview
8.3.2 Global Residential Building Market Revenue and Forecasts to 2025 (US$ Mn)
8.4 Industrial Infrastructure
8.4.1 Overview
8.4.2 Global Industrial Infrastructure Market Revenue and Forecasts to 2025 (US$ Mn)
8.5 Other
8.5.1 Overview
8.5.2 Global Other Applications Market Revenue and Forecasts to 2025 (US$ Mn)
9 Global Busway Market Revenue and Forecasts to 2025 – Geographical Analysis
9.1 Overview
9.2 North America Busway Market Revenue and Forecasts to 2025
9.2.1 Overview
9.2.2 North America Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.2.3 North America Busway Market Breakdown by Key Countries
9.2.4 North America Busway Market Breakdown by Bus Types
9.2.5 North America Busway Market Breakdown by Applications
9.2.5.1 US Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.2.5.1.1 US Busway Market Breakdown by Bus Types
9.2.5.1.2 US Busway Market Breakdown by Applications
9.2.5.2 Canada Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.2.5.2.1 Canada Busway Market Breakdown by Bus Types
9.2.5.2.2 Canada Busway Market Breakdown by Applications
9.2.5.3 Mexico Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.2.5.3.1 Mexico Busway Market Breakdown by Bus Types
9.2.5.3.2 Mexico Busway Market Breakdown by Applications
9.3 Europe Busway Market Revenue and Forecasts to 2025
9.3.1 Overview
9.3.2 Europe Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.3.3 Europe Busway Market Breakdown by Key Countries
9.3.4 Europe Busway Market Breakdown by Bus Types
9.3.5 Europe Busway Market Breakdown by Applications
9.3.5.1 Germany Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.3.5.1.1 Germany Busway Market Breakdown by Bus Types
9.3.5.1.2 Germany Busway Market Breakdown by Applications
9.3.5.2 UK Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.3.5.2.1 UK Busway Market Breakdown by Bus Types
9.3.5.2.2 UK Busway Market Breakdown by Applications
9.3.5.3 Italy Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.3.5.3.1 Italy Busway Market Breakdown by Bus Types
9.3.5.3.2 Italy Busway Market Breakdown by Applications
9.3.5.4 Rest of Europe Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.3.5.4.1 Rest of Europe Busway Market Breakdown by Bus Types
9.3.5.4.2 Rest of Europe Busway Market Breakdown by Applications
9.4 Asia Pacific (APAC) Busway Market Revenue and Forecasts to 2025
9.4.1 Overview
9.4.2 APAC Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.4.3 APAC Busway Market Breakdown by Key Countries
9.4.4 APAC Busway Market Breakdown by Bus Types
9.4.5 APAC Busway Market Breakdown by Applications
9.4.5.1 Vietnam Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.4.5.1.1 Vietnam Busway Market Breakdown by Bus Types
9.4.5.1.2 Vietnam Busway Market Breakdown by Applications
9.4.5.2 Indonesia Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.4.5.2.1 Indonesia Busway Market Breakdown by Bus Types
9.4.5.2.2 Indonesia Busway Market Breakdown by Applications
9.4.5.3 Hong Kong Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.4.5.3.1 Hong Kong Busway Market Breakdown by Bus Types
9.4.5.3.2 Hong Kong Busway Market Breakdown by Applications
9.4.5.4 Macau Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.4.5.4.1 Macau Busway Market Breakdown by Bus Types
9.4.5.4.2 Macau Busway Market Breakdown by Applications
9.4.5.5 Singapore Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.4.5.5.1 Singapore Busway Market Breakdown by Bus Types
9.4.5.5.2 Singapore Busway Market Breakdown by Applications
9.4.5.6 Rest of APAC Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.4.5.6.1 Rest of APAC Busway Market Breakdown by Bus Types
9.4.5.6.2 Rest of APAC Busway Market Breakdown by Applications
9.5 Middle East Busway Market Revenue and Forecasts to 2025
9.5.1 Overview
9.5.2 Middle East Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.5.3 Middle East Busway Market Breakdown by Key Countries
9.5.4 Middle East Busway Market Breakdown by Bus Types
9.5.5 Middle East Busway Market Breakdown by Applications
9.5.5.1 Saudi Arabia Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.5.5.1.1 Saudi Arabia Busway Market Breakdown by Bus Types
9.5.5.1.2 Saudi Arabia Busway Market Breakdown by Applications
9.5.5.2 UAE Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.5.5.2.1 UAE Busway Market Breakdown by Bus Types
9.5.5.2.2 UAE Busway Market Breakdown by Applications
9.5.5.3 Rest of Middle East Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.5.5.3.1 Rest of Middle East Busway Market Breakdown by Bus Types
9.5.5.3.2 Rest of Middle East Busway Market Breakdown by Applications
9.6 Africa Busway Market Revenue and Forecasts to 2025
9.6.1 Overview
9.6.2 Africa Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.6.3 Africa Busway Market Breakdown by Key Countries
9.6.4 Africa Busway Market Breakdown by Bus Types
9.6.5 Africa Busway Market Breakdown by Applications
9.6.5.1 South Africa Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.6.5.1.1 South Africa Busway Market Breakdown by Bus Types
9.6.5.1.2 South Africa Busway Market Breakdown by Applications
9.6.5.2 Kenya Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.6.5.2.1 Kenya Busway Market Breakdown by Bus Types
9.6.5.2.2 Kenya Busway Market Breakdown by Applications
9.6.5.3 Rest of Africa Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.6.5.3.1 Rest of Africa Busway Market Breakdown by Bus Types
9.6.5.3.2 Rest of Africa Busway Market Breakdown by Applications
9.7 South America (SAM) Busway Market Revenue and Forecasts to 2025
9.7.1 Overview
9.7.2 SAM Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.7.3 SAM Busway Market Breakdown by Key Countries
9.7.4 SAM Busway Market Breakdown by Bus Types
9.7.5 SAM Busway Market Breakdown by Applications
9.7.5.1 Brazil Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.7.5.1.1 Brazil Busway Market Breakdown by Bus Types
9.7.5.1.2 Brazil Busway Market Breakdown by Applications
9.7.5.2 Rest of SAM Busway Market Revenue and Forecasts to 2025 (US$ Mn )
9.7.5.2.1 Rest of SAM Busway Market Breakdown by Bus Types
9.7.5.2.2 Rest of SAM Busway Market Breakdown by Applications
10 Industry Landscape
10.1 Market Initiative
10.2 Mergers and Acquisitions
10.3 New development
11 Busway Market, Key Company Profiles
11.1 Schneider Electric SE
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Financial Overview
11.1.4 SWOT Analysis
11.1.5 Key Developments
11.2 Siemens AG
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Financial Overview
11.2.4 SWOT Analysis
11.2.5 Key Developments
11.3 General Electric Company
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Financial Overview
11.3.4 SWOT Analysis
11.3.5 Key Developments
11.4 Eaton Corp. PLC
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Financial Overview
11.4.4 SWOT Analysis
11.4.5 Key Developments
11.5 LS Cable & System Ltd.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Financial Overview
11.5.4 SWOT Analysis
11.5.5 Key Developments
11.6 Power Plug Busduct Sdn Bhd
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Financial Overview
11.6.4 SWOT Analysis
11.6.5 Key Developments
11.7 ABB Ltd.
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Financial Overview
11.7.4 SWOT Analysis
11.7.5 Key Developments
11.8 Powell Industries, Inc.
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Financial Overview
11.8.4 SWOT Analysis
11.8.5 Key Developments
11.9 Honeywell International Inc.
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Financial Overview
11.9.4 SWOT Analysis
11.9.5 Key Developments
11.10 Universal Electric Corporation
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Financial Overview
11.10.4 SWOT Analysis
11.10.5 Key Developments
11.11 C&S Electric Limited
11.11.1 Key Facts
11.11.2 Business Description
11.11.3 Financial Overview
11.11.4 SWOT Analysis
11.11.5 Key Developments
11.12 Furukawa Electric Co., Ltd.
11.12.1 Key Facts
11.12.2 Business Description
11.12.3 Financial Overview
11.12.4 SWOT Analysis
11.12.5 Key Developments
11.13 Brilltech
11.13.1 Key Facts
11.13.2 Business Description
11.13.3 Financial Overview
11.13.4 SWOT Analysis
11.13.5 Key Developments
11.14 DAQO GROUP
11.14.1 Key Facts
11.14.2 Business Description
11.14.3 Financial Overview
11.14.4 SWOT Analysis
11.14.5 Key Developments
11.15 Asian Power Systems (I) Pvt. Ltd.
11.15.1 Key Facts
11.15.2 Business Description
11.15.3 Financial Overview
11.15.4 SWOT Analysis
11.15.5 Key Developments
12 Appendix
12.1 About The Insight Partners
12.2 Glossary of Terms
12.3 Methodology
12.3.1 Coverage
12.3.2 Secondary Research
12.3.3 Primary Research
12.4 Contact Us
12.5 Disclaimer
1. Schneider Electric SE2. Siemens AG3. General Electric Company4. Eaton Corp. PLC5. LS Cable & System Ltd.6. Power Plug Busduct Sdn Bhd;7. ABB Ltd.8. Powell Industries, Inc.9. Honeywell International Inc.10. Universal Electric Corporation11. C&S Electric Limited12. Furukawa Electric Co., Ltd.13. Brilltech14. DAQO GROUP15. Asian Power Systems (I) Pvt. Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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