The “Busway Market to 2025 by Types (Air Splicing Busway (BMC), Intensive Insulation Plug Busway (CMC), High Strength Enclosed Busway (CFW) and Others), and Application (Commercial Buildings, Residential Buildings, Industrial Infrastructure and Others) – Global Analysis and Forecast” The scope of study involves understanding on the factors responsible for this growth of busway market along with the estimates and forecasts of the revenue and market share analysis and also spots the significant busway players in the market and their key developments.
Busway Market to 2025 – Global Analysis and Forecast by type and application, Busway market is expected to grow US$ 10.81 billion by 2025 from US$ 5.66 billion in 2015. A busway (also called bus duct), 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.
Some of the remarkable partnership and collaboration in this industry are collaboration of GE Energy Connections collaborated with Clean Line Energy to develop clean energy infrastructure project in US. Apart from this, LS Cable & Systems entered in contract with BAIC to supply electric vehicle parts. The company is aiming to accelerate its progress into the Chinese electric vehicle parts market.
The global busway market by geography is segmented into six region including North America, Europe, Asia Pacific, Middle East, Africa and South America. APAC is expected to account for the largest share of the global busway market in 2016, followed by North America. Also, Middle East and APAC are expected to have highest growth rate during the forecast period from 2016 to 2025. The report profiles key players such 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.
The global busway market accounted for US$ 5.66 Bn in 2015 and is expected to grow at a CAGR of 6.66% during the forecast period 2016 – 2025, to account for US$ 10.81 Bn in 2025.
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