Market Research Report
Busbar Protection - Global Market Outlook (2019-2027)
|Published by||Stratistics Market Research Consulting||Product code||963283|
|Published||Content info||150+ Pages
Delivery time: 2-3 business days
|Busbar Protection - Global Market Outlook (2019-2027)|
|Published: September 1, 2020||Content info: 150+ Pages||
According to Stratistics MRC, the Global Busbar Protection Market is accounted for $3.55 billion in 2019 and is expected to reach $6.62 billion by 2027 growing at a CAGR of 8.1% during the forecast period. Increasing investments in transmission and distribution infrastructure and operational benefits of busbar protection relays are the major factors driving the market growth. However, a delay in grid expansion projects is restraining the market growth. Moreover, adoption of HVDC technology and increased investments in smart grids and energy systems would provide ample opportunities for the market growth.
Busbar protection is a protection scheme meant to protect the busbar from an electrical fault. Various feeders are connected to a busbar through circuit breaker in any of the bus configuration. Busbar protection scheme incorporates busbar differential relay which may either be high impedance or low impedance differential relay. There are different and the number of busbar protection schemes, the most popular amongst are differential protection, frame-earth protection, reverse-blocking/interlocking protection.
Based on impedance, the low impedance segment is likely to have a huge demand due to increasing investment in the smart grid and smart substation. Modern microprocessor-based low-impedance busbar protection relays utilize sophisticated algorithms to detect faults in the bus bar schemes. The system can be configured as de-centralized busbar protection system and centralized busbar protection system. By geography, Asia Pacific is going to have a lucrative growth during the forecast period. The growth of the Asia Pacific busbar protection market can be attributed to the increasing investment in grid expansion projects from countries such as China, Japan, and India.
Some of the key players profiled in the Busbar Protection Market include ABB, Andritz, Basler Electric, Benchmarking, Eaton, Erlphase Power Technologies, GE, Mitsubishi Electric, NR Electric, Schneider Electric, SEL, Siemens, Toshiba and ZIV.
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Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances