Global Busbar Protection Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global busbar protection market in its upcoming report titled, “Global Busbar Protection Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global busbar protection market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global busbar protection market report has been segmented on the basis of voltage, impedance, end user, and region.

A busbar is a strip or bar of copper, brass or aluminum that conducts electricity within a switchboard, a substation or a battery bank. It is primarily used to conduct a substantial current of electricity in the electrical grid. It is designed for phase-segregated short-circuit protection and control. The busbar protection relay is intended for use in high-impedance-based applications within utility substations and industrial power systems.

Increasing investments into renewable energy coupled with increasing government initiatives for replacement of aging transmission & distribution infrastructure, especially in developing economies are major factors driving growth of the busbar protection market. In addition, advancements in busbar technologies and increasing adoption of high voltage direct current (HVDC) technologies across developed economies are other major factors expected to boost growth of the global busbar protection market over the forecast period.

However, delays in electric grid expansion and refurbishing projects coupled with high costs associated with use of busbar protection for major electrical grids are major factors hampering growth of the global busbar protection market.

A major and increasing trend being witnessed in the global market is increasing adoption of smart grids and HVDC technologies in developed and in some developing economies, which is another factor expected to boost demand for busbar protection and in turn is projected to propel growth of the global busbar protection market over the forecast period.

Currently, the market in Asia Pacific dominates the global busbar protection market in revenue terms owing to increasing investment by governments in countries in the region, into development of electric transmission and distribution networks. The market in North America accounted for second-highest revenue share in the global busbar protection market, followed by markets in Europe, Latin America, and Middle East & Africa respectively. The market in Asia Pacific is projected to witness fastest growth in terms of revenue, owing to increasing government initiatives for improvement of electric grids in emerging economies such as China and India.

Global busbar protection market segmentation:

By voltage:

• Medium Voltage
• High Voltage
• Extra High Voltage

By impedance:

• Low Impedance
• High Impedance

By end user:

• Utilities
• Industries (Oil & Gas, Metal & Mining, and Cement and Chemicals)
• Transportations (Railways and Metros)

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa