The busbar protection market is likely to grow in the near future, owing to increasing demand for power and rising need to augment the power infrastructure across the world. The power transmission and distribution (T&D) infrastructure is undergoing massive change on account of aging infrastructure in the regions which have remained underdeveloped. Apart from that, modernization of power infrastructure is envisaged, globally, on account of development of technological advancements pertaining to power systems.
The expansion in grid connectivity is being stressed upon in many countries in order to integrate the off-grid communities with grid electricity. Apart from that, off-grid power generation, especially in wind power segment, is growing at a robust pace, which is expected to provide a huge impetus to busbar protection market during the forecast period. The development of new power generation facilities requires availability of power evacuation systems. The growth in development of power plants is expected to foster demand for busbar protection across the world.
Technological Advancements is driving the Busbar market
Globally, the technological advancements pertaining to power systems is providing a huge impetus to the busbar protection market. The digital protective relay, which includes software-based protection algorithms for the detection of electrical faults is used as busbar protection system. Moreover, the development of digital protection relay has emerged as one of the major trends in the busbar protection market. Apart from that the technological advancements have led to integration of IT system with conventional power engineering which has resulted in replacement of old infrastructure with new ones, thus, fuelling the busbar demand.
Utilities Sector - Major End-user
The utilities sector is the major end user segment for busbar protection system owing to increasing development of power infrastructure. Utilities are major owner of power assets across the world, which makes it the major end user segment for busbar protection system. The utility companies have focused on upgrading the power infrastructure, which is expected to drive the busbar market. Moreover, the growth in development of power infrastructure i.e. generation, transmission and distribution assets by utility companies is expected to drive the market for busbar protection system in the coming years.
Asia-Pacific to Dominate the Market Growth
The Asia-Pacific region is expected to dominate the market owing to increasing demand for electricity in the region. India has planned to build the longest 800kV ultra-high-voltage direct current (UHVDC) transmission line, which will have a length of 1,830 kilometers. The development of infrastructure and industrial growth coupled with rising disposable income in the region has led to surge in demand of electricity. The growth in population has led to increased urbanization in the region, which has led to growth in demand for electricity, which, in turn, has led to increase in requirement of power infrastructure. China and India are the major developing countries in the region which offers massive market opportunities for bus bar protection deployment.
Key Developments in the Market
The major players include - ABB Ltd., General Electric Company, Siemens AG, Schneider Electric SE, Eaton Corporation PLC, Mitsubishi Electric Corporation, Toshiba Corp, Basler Electric Company Inc., Andritz AG, Erlphase Power Technologies Limited, NR Electric Co., Ltd., among others.
Reasons to Purchase This Report
Customization of the Report
This report can be customized to meet your requirements. Please contact us for more information.
Note: This is an On Demand product, please allow 3-5 working days for delivery after order is placed.
This product will be delivered within 2 business days.
The expansion in grid connectivity is being stressed upon in many countries in order to integrate the off-grid communities with grid electricity. Apart from that, off-grid power generation, especially in wind power segment, is growing at a robust pace, which is expected to provide a huge impetus to busbar protection market during the forecast period. The development of new power generation facilities requires availability of power evacuation systems. The growth in development of power plants is expected to foster demand for busbar protection across the world.
Technological Advancements is driving the Busbar market
Globally, the technological advancements pertaining to power systems is providing a huge impetus to the busbar protection market. The digital protective relay, which includes software-based protection algorithms for the detection of electrical faults is used as busbar protection system. Moreover, the development of digital protection relay has emerged as one of the major trends in the busbar protection market. Apart from that the technological advancements have led to integration of IT system with conventional power engineering which has resulted in replacement of old infrastructure with new ones, thus, fuelling the busbar demand.
Utilities Sector - Major End-user
The utilities sector is the major end user segment for busbar protection system owing to increasing development of power infrastructure. Utilities are major owner of power assets across the world, which makes it the major end user segment for busbar protection system. The utility companies have focused on upgrading the power infrastructure, which is expected to drive the busbar market. Moreover, the growth in development of power infrastructure i.e. generation, transmission and distribution assets by utility companies is expected to drive the market for busbar protection system in the coming years.
Asia-Pacific to Dominate the Market Growth
The Asia-Pacific region is expected to dominate the market owing to increasing demand for electricity in the region. India has planned to build the longest 800kV ultra-high-voltage direct current (UHVDC) transmission line, which will have a length of 1,830 kilometers. The development of infrastructure and industrial growth coupled with rising disposable income in the region has led to surge in demand of electricity. The growth in population has led to increased urbanization in the region, which has led to growth in demand for electricity, which, in turn, has led to increase in requirement of power infrastructure. China and India are the major developing countries in the region which offers massive market opportunities for bus bar protection deployment.
Key Developments in the Market
- April 2018: ABB Ltd won a contract of worth USD 90 million from Dubai Electricity and Water Authority (DEWA) for development of a substation that will integrate solar power from upcoming phases of the Mohammed bin Rashid Al Maktoum solar park into the city’s electrical grid
- April 2018: Siemens AG was selected by Nepal Electricity Authority (NEA) for upgradation of its 15 year old Supervisory Control and Data Acquisition/Energy Management System (SCADA/EMS) at its Load Dispatch Center (LDC) located in Kathmandu
The major players include - ABB Ltd., General Electric Company, Siemens AG, Schneider Electric SE, Eaton Corporation PLC, Mitsubishi Electric Corporation, Toshiba Corp, Basler Electric Company Inc., Andritz AG, Erlphase Power Technologies Limited, NR Electric Co., Ltd., among others.
Reasons to Purchase This Report
- Current and future busbar protection market outlook in the developed and emerging markets
- Analyze various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report
This report can be customized to meet your requirements. Please contact us for more information.
Note: This is an On Demand product, please allow 3-5 working days for delivery after order is placed.
This product will be delivered within 2 business days.
Table of Contents
1. Executive Summary5. Value Chain Analysis
2. Research Methodology
3. Market Overview
4. Market Dynamics
6. Industry Attractiveness - Porter’s Five Forces Analysis
7. Market Segmentation and Analysis (Overview, Market Size and Demand Forecast until 2023)
8. Regional Market Analysis (Overview, Market Size and Demand Forecast until 2023)
9. Key Company Analysis* (Overview, Products & Services, Financials**, Recent Development, and Analyst View)
10. Competitive Landscape
11. Appendix
*List not exhaustive
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- ABB Ltd.
- General Electric Company
- Siemens AG
- Schneider Electric SE
- Eaton Corporation PLC
- Mitsubishi Electric Corporation
- Toshiba Corp
- Basler Electric Company Inc.
- Andritz AG
- Erlphase Power Technologies Limited
- NR Electric Co. Ltd.
Methodology
LOADING...