Global Busway or Bus Duct Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Busway or Bus Duct Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Busway, or bus duct, as defined by the National Electrical Manufacturers Association (NEMA) is a prefabricated electrical distribution system consisting of bus bars in a protective enclosure, including straight lengths, fittings, devices and accessories.

Market Overview:

The latest research study on the global Busway or Bus Duct market finds that the global Busway or Bus Duct market reached a value of USD 8686.43 million in 2022. It’s expected that the market will achieve USD 12172.0 million by 2028, exhibiting a CAGR of 5.78% during the forecast period.

Affect the normal operation of the industry

The raging COVID-19 plunged the global economic environment into depression. The impact of COVID-19 on the Busway or Bus Duct industry will involve all major links and all entities in the industry chain. The company's management efficiency has declined, commuting has been severely hindered, production plans have been severely hindered, network expansion has been delayed, marketing has been delayed, brand adjustments have been forced, market sales have declined, and company and employee revenue have declined. The government has also put forward higher requirements for the production and operation of enterprises.
In the short term, from the supply side, the company's operating pressure will increase due to postponement of workers' arrival and logistics and transportation issues. In the long run, as the epidemic gradually improves or ends, the impact on the Busway or Bus Duct industry will gradually weaken. Production and sales will return to the original level and gradually increase.

Logistics

Due to the epidemic situation, many countries have imposed controls on domestic transportation and the movement of people, and imposed restrictions on imported goods. This has led to various levels of logistics disruption, cargo accumulation and transportation delays. At present, the logistics industry in various countries is gradually recovering operations according to different national policies. It is expected that after the epidemic is further controlled, it will basically return to normal.

Industrial automation will further develop

The epidemic will promote automated production in the industry, enabling manufacturers to hire more high-tech talents and multi-skilled compound workers, reduce dependence on labor, and better respond to labor fluctuations. At the same time, more and more attention will be paid to the standardization of components, the intelligentization of logistics and the enhancement of the anti-risk ability of the supply chain.

Drivers

Busway is used as an alternative to cable and conduit and is commonly found throughout mission critical facilities, data centers, industrial facilities, large residential complexes, petrochemical and electrical utilities.
After years of development, the busway industry has gradually formed and established a diversified, three-dimensional, market-oriented and fully competitive development pattern, with technological innovation and product services gradually applied to 5G infrastructure, ultra-high voltage, intercity high-speed railroads, urban rail transit, data centers and artificial intelligence and other industry fields. In the future, the development of intelligent digitalization and environmental protection and energy saving will give busway more development opportunities.

The successive construction of major projects, and the national energy structure adjustment of the power industry, the construction investment in the field of clean energy such as hydropower, wind power, nuclear power and solar power generation has increased significantly, busway industry in the development of the development opportunities. At the same time, infrastructure construction, rail transportation investment, new energy grid connection brings new growth points in the busway market, bringing business opportunities to manufacturing companies.

Restraints

The busway industry belongs to the transmission and distribution and control equipment manufacturing industry, and the development of the industry is closely related to the national fixed asset investment scale. If the macroeconomy fluctuates greatly in the future and the economic growth rate is weak, it will lead to a slowdown in the national fixed asset investment scale, which will affect the development of the transmission and distribution and control equipment manufacturing industry. In recent years, the uncertainties of macroeconomic growth have increased globally. If the macroeconomic growth is weak, it will make the demand for busway and other products from downstream customers drop significantly, which in turn will lead to the risk of performance decline for busway manufacturers.

Region Overview:

From 2023-2028, Europe is estimated to witness robust growth prospects.

Company Overview:

Schneider Electric is one of the major players operating in the Busway or Bus Duct market, holding a share of 8.8% in 2023.

Schneider Electric

Schneider Electric is a France-based company that provides energy-related solutions globally. It operates through two segments: Energy Management and Industrial Automation. Energy Management includes the subsegments Low Voltage, Medium Voltage and Secure Power.

Siemens

Siemens is a Germany-based technology company. It operates through seven segments: Digital Industries, which offers products and system solutions for automation used in discrete and process industries; Smart Infrastructure, which supplies and intelligently connects energy systems and building technologies; Gas and Power, which offers products, solutions and services for generating electricity, for producing and transporting oil and gas, as well as for downstream and oil and gas-related operations; Mobility, which combines all Siemens businesses in the area of passenger and freight transportation; Siemens Healthineers, which supplies technology to the healthcare industry and engages in diagnostic imaging and laboratory diagnostics; Siemens Gamesa Renewable Energy, which designs,and produces wind turbines, and sales wind farms, and Financial Services (SFS), which offers leasing solutions and equipment, project and structured financing in the form of debt and equity investments.

Segmentation Overview:

Among different product types, Intensive Insulation Plug Bus Duct (CMC) segment is anticipated to contribute the largest market share in 2028.

Application Overview:

In the Busway or Bus Duct market, 52.42% of the total value was generated through the Commercial Building segment by application in 2022.

Key Companies in the global Busway or Bus Duct market covered in Chapter 3:

PPB
Siemens
E+I Engineering
Eaton
Legrand
C&S Electric
Schneider Electric
Honeywell
Huapeng Group
Rittal
LS Cable & System
ABB
Furukawa Electric
Wetown
Dasheng Microgrid Technology
KYODO KY-TEC
Powell Industries
EAE Group

In Chapter 4 and Chapter 14.2, on the basis of types, the Busway or Bus Duct market from 2018 to 2029 is primarily split into:

Air Splicing Bus Duct (BMC)
Intensive Insulation Plug Bus Duct (CMC)
Higher Strength Enclosed Bus Duct (CFW)

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Busway or Bus Duct market from 2018 to 2029 covers:

Industrial Buildings
Commercial Building
Civil Buildings

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)