The Europe and GCC busway market was valued at $1,966.3 million in 2022, and is projected to reach $3,360.2 million by 2032, registering a CAGR of 5.7% from 2023 to 2032.
Report Key Highlighters:
- The Europe and GCC busway market studies more than 10 countries. The research includes a segment analysis of each country in terms of value ($ million) for the projected period 2022-2032.
- The research combined high-quality data, professional opinion and research, with significant independent opinion. The research methodology aims to provide a balanced view of the global market and help stakeholders make educated decisions to achieve ambitious growth goals.
- Over 3,700 product literature, annual reports, industry statements, and other comparable materials from major industry participants were reviewed to gain a better understanding of the market.
- •ABB, Eaton Corporation, Godrej and Boyce, General Electric Qetaf Electrics, Powell Industries, Schneider Electric, Siemens AG, Legrand, EAE, Graziadio and C.S.P.A, Beshielding S.R.L, DKC, AlOjaimi Industry, Bahra Electric, Fuji Electric, Vertiv, and Elsewedy Electrics. Major strategies such as contracts, agreements, partnerships, product launches, acquisitions, expansion, and other strategies of players operating in the market are tracked and monitored.
The Europe and GCC busway market size was valued at $1,966.3 million in 2022, and is projected to reach $3,360.2 million by 2032, registering a CAGR of 5.7% from 2023 to 2032. The busway is characterized as an electrical distribution system comprising bus bars enclosed within a protective casing. Busway refers to a system of electrical distribution that is designed to carry and distribute electrical power. Busways are metal enclosures or conduits containing conductors, typically made of copper or aluminum, that are used to transport electrical power from one location to another within a building or an industrial facility. The busway incorporates bus bars, insulating and/or supporting materials, and housing. It encompasses straight sections, fittings, devices, and supplementary accessories. Busway is offered in voltage categories, low, medium, and high with the appropriate type determined by its intended application. The low-voltage busway is designed for applications requiring 600 volts or below and 225 to 5,000 amps. The ANSI standards categorize voltages into low voltage (up to 600 V), medium voltage (between 600 V and 69 kV), and high voltage (between 69 kV and 230 kV).
Factors such as increase in urbanization coupled with rapid infrastructure development, expansion of industries & increase in manufacturing activities, and surge in demand for power transmission systems act as the key driving forces of the Europe and GCC busway market share. However, fluctuation in prices of raw material and high initial cost hinder the growth of the market. On the contrary, surge in focus on renewable energy sources and smart building technologies are expected to offer remarkable growth opportunities for the players operating in the Europe and GCC busway market.
The Europe and GCC busway market is segmented into voltage, conducting material, rating, application, and region. By conducting material, the market is divided into copper and aluminum. On the basis of voltage, it is classified into medium-voltage, and low-voltage. On the basis of rating, it is segregated into 16A-25A, 160A1000A, 630A-6300A, and others. Depending on application, it is fragmented into datacenter, industry, residential, hospital, mall, stadium, and others. Region wise, it is analyzed across Europe and GCC.
The leading companies profiled in the report include ABB, Eaton Corporation, Godrej and Boyce, General Electric Qetaf Electrics, Powell Industries, Schneider Electric, Siemens AG, Legrand, EAE, Graziadio and C.S.P.A, Beshielding S.R.L, DKC, AlOjaimi Industry, Bahra Electric, Fuji Electric, Vertiv, and Elsewedy Electric.
Europe comprises of Germany, the UK, France, Italy, Russia, and rest of Europe. Europe is experiencing ongoing urbanization and infrastructure development projects. The need for reliable and efficient electrical distribution systems, like busways, is crucial in supporting the increasing power demand of urban areas and modern infrastructure projects.
Europe is actively promoting smart building initiatives that involve the integration of advanced technologies for energy efficiency and automation. Low and medium voltage busways, being adaptable and suitable for smart building applications, are poised to witness increased demand as these initiatives gain momentum. The European Union (EU) industrial strategy aims at industries leading the transition toward climate neutrality. Low and medium voltage busways contribute to sustainability by minimizing power losses during distribution, aligning with the broader goal of achieving a more environmentally friendly and energy-efficient future.
The strategy emphasizes the importance of industries shaping Europe's digital future. Low and medium voltage busways, with their adaptability and compatibility with smart technologies, align well with the digitalization initiatives. For instance, in August 2023, Legrand, France based company which provides products and solutions in the areas of electrical wiring devices, network infrastructure, announced the introduction of the next-generation Starline Series-S Track Busway power distribution system. This innovative product combines the proven technology of Starline's track busway with the added benefit of an IP54 ingressprotection rating. Such developments drive the development of low and medium voltage busways with innovative design according to the needs of the European market.
Rise in Urbanization and Infrastructure Development
Rapid urbanization and infrastructure development significantly propel the of Europe and GCC busway market growth. According to the United Nations, Europe stands as one of the most urbanized regions, and projections from the European Commission anticipate a rise in urbanization to approximately 83.7% by 2050. This urbanization trend entails the construction of new residential and commercial structures to meet the demands of a growing population. Concurrently, infrastructure projects, including the development of roads, bridges, and public facilities, lead to an upswing in construction activities.
Consequently, there is an escalating demand for dependable and adaptable electrical distribution systems, such as low and medium voltage busways, to cater to the heightened construction endeavors. Furthermore, the modernization initiatives undertaken by cities necessitate upgrades or renovations to existing buildings and facilities to align with contemporary standards. In this context, low and medium voltage busways emerge as a versatile and efficient solution for enhancing electrical infrastructure in both new and pre-existing structures. Their adaptability proves instrumental in facilitating the integration of cutting-edge technologies and smart building features as part of the urban modernization landscape.
Expansion of Industries and Manufacturing Activities
European countries are diversifying their industrial portfolios, moving beyond traditional sectors to embrace emerging industries. This diversification includes the growth of sectors such as technology, biotechnology, and clean energy, creating new opportunities for industrial expansion. Moreover, government initiatives to bolster the market, particularly in the industrial sector, propels the growth of the Europe and GCC busway market. For instance, the Dubai Industrial Strategy 2030 in UAE is strengthening the growth of the industrial sector.
By identifying key initiatives and focusing on knowledge-based, sustainable, and innovation-driven businesses, the strategy creates a conducive environment for industrial expansion and development. Industries and manufacturing facilities require a robust and efficient electrical distribution system to power a multitude of machinery and equipment. Low and medium voltage busways, known for their capacity to handle varying loads, become essential in providing reliable power to industrial machinery, production lines, and associated equipment. In addition, busways are designed to meet the specific challenges of industrial environments, including high power demands, varying loads, and the need for flexibility. Their robust construction and adaptability make them well-suited for the dynamic and demanding conditions within manufacturing facilities.
By Voltage
Medium-voltage segment is projected to grow at a highest CAGR
Fluctuation in Prices of Raw Material
The volatility in raw material prices, specifically copper and aluminum, introduces ambiguity into the manufacturing costs of low and medium voltage busways. Unexpected surges in material costs have the potential to escalate production expenses, thereby influencing the profit margins of manufacturers. Copper and aluminum, being fundamental constituents of the overall manufacturing expenditure for busways, become especially vulnerable to sharp and unpredictable fluctuations in prices.
This presents challenges for manufacturers in terms of effective cost management and financial planning. The struggle to maintain consistent product pricing arises from the inherent volatility of raw material costs, impacting the competitive positioning and profitability of manufacturers. Buyers may exhibit hesitation in investing in products with uncertain pricing, further challenging market competitiveness. The resultant escalation in production costs, if transferred to consumers through increased product prices, impedes the affordability and widespread adoption of low and medium busways in the market.
By Conducting Material
Copper segment holds dominant position in 2022
Smart Building Technologies
Smart building technologies involve the integration of automated systems and controls for various building functions, including lighting; heating, ventilation, and air conditioning (HVAC); and security. In this context, busways emerge as a dependable and efficient solution for distributing power to the diverse components of smart building systems. Smart buildings frequently integrate numerous Internet of Things (IoT) devices and sensors that rely on a stable power source. Busways offer a structured and adaptable electrical distribution system to supply power to these devices, ensuring the seamless operation of smart building technologies. The flexibility in installation provided by busways makes them well-suited for retrofitting existing buildings with smart technologies. As the demand for smart building upgrades rises, the adaptability of busways becomes an asset for seamlessly integrating these advanced systems into established structures.
By Application
Industry segment holds dominant position in 2022
Impact of Russia-Ukraine War on the Europe and GCC Busway Market
The ongoing conflict between Russia and Ukraine has the potential to significantly disrupt supply chains, especially for raw materials or components sourced from either country. This disruption could result in delays or shortages in the manufacturing of busway systems, impacting manufacturers in Europe and the GCC that depend on these inputs for their production processes. Additionally, heightened geopolitical tensions and conflict in the region are likely to create economic uncertainty, influencing investment decisions and potentially delaying infrastructure projects, including those related to transportation and utilities.
By Region
Europe region holds dominant position in 2022
Recent Developments in The Europe and GCC Busway Industry
- In January 2024, Vertiv Group Corp. expanded capacity of its switchgear, busway, and integrated modular solutions (IMS) business by more than 100% after acquiring the E&I Engineering and PowerBar Gulf switchgear, busway, and IMS business in November 2021. Furthermore, it anticipates doubling capacity with expansions through the end of 2025.
- In October 2023, Fuji Electric Co., Ltd. outlined plans for expanding its footprint in India with increased investments. Additionally, it intends to export products manufactured in India to the Asia-Pacific region and casting parts to European nations and other global destinations. The company is considering the establishment of a larger factory, with Tamil Nadu being the favored state, as part of its strategy to diversify its supply chain operations away from China.
- In March 2022, The Legrand Group entered into a partnership with Michael Smith Switchgear to utilize Zucchini transformers and busbars in the assembly of switchgear systems. Zucchini busbars feature a diverse range of ratings, reaching up to 6300 A, and provide power distribution components tailored to meet various requirements.
- In June 2022, Elsewedy Electric inaugurated a facility for manufacturing busway dielectric epoxy insulation systems in Africa, situated in the 10th of Ramadan city. This facility caters to the needs of large-scale structures, including high-rise buildings, commercial and residential centers, hospitals, airports, data centers, and facilities with stringent security standards.
- In October 2021, Vertiv Group Corp. launched Vertiv Powerbar iMPB, a busbar power distribution system to support the critical digital infrastructure of data centers and other dynamic environments. The scalable Vertiv Powerbar iMPB enables uninterrupted additions, upgrades, and service, all without requiring additional floor space.
KEY BENEFITS FOR STAKEHOLDERS
- This study presents the analytical depiction of the global Europe and GCC busway analysis along with the current trends and future estimations to depict imminent investment pockets.
- The overall Europe and GCC busway opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the global Europe and GCC busway with a detailed impact analysis.
- The current Europe and GCC busway is quantitatively analyzed from 2022 to 2032 to benchmark financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Europe and GCC Busway Market Report Highlights
| Aspects | Details |
 By VOLTAGE |
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 By CONDUCTING MATERIAL |
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 By RATING |
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 By APPLICATION |
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 By REGION |
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Analyst Review
The Europe & GCC busway market exhibits high growth potential in Europe and GCC owing to infrastructure development and rapid urbanization. Moreover, surge in infrastructure projects, including commercial buildings, industrial facilities, and smart cities, has contributed to the growth of the low and medium voltage busway market. The CXOs further added that the demand for critical digital infrastructure solutions has been rising, particularly in data centers and other industrial applications. For instance, the CEO of Vertiv, Giordano (Gio) Albertazzi expressed that the growing demand for data center power infrastructure is driven by rapid increase in use of artificial intelligence (AI), which increases the data traffic and the need for data center power infrastructure, thereby increasing the demand for busways.
Moreover, in January 2024, Vertiv announced significant expansions in its switchgear, busway, and integrated modular solutions (IMS) business. The expansion is a result of Vertiv's acquisition of E&I Engineering and PowerBar Gulf switchgear, busway, and IMS business in November 2021. The CEO mentioned that when Vertiv acquired the switchgear and busway business (E&I Engineering and PowerBar Gulf), the company expected to enhance its end-to-end power management portfolio for data centers and other critical applications. In addition, companies in the busway market are increasingly expanding their presence through acquisition to provide customers with a significantly broader product portfolio, as well as advanced R&D capabilities and an expanded global reach
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