DUBLIN, May 22, 2018 /PRNewswire/ --
The "Busbar Protection Market by Voltage (Medium Voltage, High Voltage, and Extra High Voltage), Impedance (Low Impedance and High Impedance), End-User (Utilities, Industries, and Transportation), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global busbar protection market is expected to grow at a CAGR of 6.10%, from 2018 to 2023, to reach a market size of USD 4.31 Billion by 2023 from USD 3.20 Billion in 2018.
The increasing investment to modernize the transmission & distribution infrastructure is the main driver for the growth of the busbar protection market. The development of digital protection relay (modern relay) is also fuelling the growth of the busbar protection market. Delays in grid expansion projects due to government regulations and environmental clearances is the main restraint for the busbar protection market.
The report segments the busbar protection market, on the basis of voltage, into medium, high, and extra high voltage. The extra high-voltage segment accounted for the largest market share in 2017, driven by the demand from Asia Pacific, Europe, the Americas, and Africa. The increasing installation of offshore wind farms and solar farms is creating an opportunity for busbar protection systems in the extra high-voltage segment.
The global busbar protection market, by end-user, has been segmented into utilities, industries, and transportations, with the transportations segment growing at a faster pace. Growth in demand for reliable power supply led to increased investments in transmission and distribution infrastructure, which further results in growing demand for the busbar protection during the forecast period.
The global busbar protection market, by impedance, has been segmented into low and high, with the low-impedance segment growing at a faster pace. Modern microprocessor-based low-impedance busbar protection relays utilize sophisticated algorithms to detect faults in the bus bar schemes. The low-impedance busbar protection system can be configured as de-centralized busbar protection system and centralized busbar protection system. The increasing investment in the smart grid and smart substation is expected to create the demand for microprocessor-based low-impedance busbar protection systems.
In this report, the busbar protection market has been analyzed with respect to five regions, namely, Europe, North America, Asia Pacific, South America and the Middle East & Africa. The Asia Pacific market led the busbar protection market, with the largest market share, by value, in 2017, and the trend is projected to continue till 2023.
The Asia Pacific is the fastest growing market for busbar protection 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. Huge investments in renewable energy and replacement of aging transmission & distribution infrastructure are some of the major factors responsible for the growth of the busbar protection market.
Key Topics Covered
1 Introduction
1.1 Objectives
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Covered
1.3.2 Regional Scope
1.3.3 Years Considered for the Study
1.3.4 Currency
1.4 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumption
2.4.1 Assumption of the Research Study
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Busbar Protection Market
4.2 Busbar Protection Market, By End-User
4.3 Busbar Protection Market, By Voltage
4.4 Busbar Protection Market, By Impedance
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Investments in Transmission and Distribution Infrastructure
5.2.1.2 Operational Benefits of Busbar Protection Relays
5.2.2 Restraints
5.2.2.1 Delays in Grid Expansion Projects
5.2.3 Opportunities
5.2.3.1 Adoption of HVDC Technology
5.2.3.2 Increased Investments in Smart Grids and Energy Systems
5.2.4 Challenges
5.2.4.1 Cost Constraints for MV Substations
6 Busbar Protection Market, By Voltage
6.1 Introduction
6.2 Medium Voltage
6.3 High Voltage
6.4 Extra High Voltage
7 Busbar Protection Market, By Impedance
7.1 Introduction
7.2 High Impedance
7.3 Low Impedance
8 Busbar Protection Market, By End-User
8.1 Introduction
8.2 Utilities
8.3 Industries
8.4 Transportation
9 Busbar Protection Market, By Region
9.1 Introduction
9.2 North America
9.2.1 By Voltage
9.2.2 By Impedance
9.2.3 By End-User
9.2.4 By Country
9.2.4.1 US
9.2.4.2 Canada
9.2.4.3 Mexico
9.3 Asia Pacific
9.3.1 By Voltage
9.3.2 By Impedance
9.3.3 By End-User
9.3.4 By Country
9.3.4.1 China
9.3.4.2 India
9.3.4.3 Japan
9.3.4.4 Australia
9.3.4.5 South Korea
9.3.4.6 Indonesia
9.3.4.7 Rest of Asia Pacific
9.4 Europe
9.4.1 By Voltage
9.4.2 By Impedance
9.4.3 By End-User
9.4.4 By Country
9.4.4.1 Germany
9.4.4.2 UK
9.4.4.3 France
9.4.4.4 Italy
9.4.4.5 Norway
9.4.4.6 Russia
9.4.4.7 Rest of Europe
9.5 South America
9.5.1 By Voltage
9.5.2 By Impedance
9.5.3 By End-User
9.5.4 By Country
9.5.4.1 Brazil
9.5.4.2 Argentina
9.5.4.3 Rest of South America
9.6 Middle East & Africa
9.6.1 By Voltage
9.6.2 By Impedance
9.6.3 By End-User
9.6.4 By Country
9.6.4.1 Saudi Arabia
9.6.4.2 UAE
9.6.4.3 South Africa
9.6.4.4 Nigeria
9.6.4.5 Egypt
9.6.4.6 Rest of the Middle East & Africa
10 Competitve Landscape
10.1 Introduction
10.2 Ranking of Players & Market Structure
10.3 Competitive Scenario
10.3.1 Contracts & Agreements
10.3.2 Investments and Expansions
10.3.3 Mergers & Acquisitions
10.3.4 Others
11 Company Profiles
11.1 Benchmarking
11.2 ABB
11.3 GE
11.4 Schneider Electric
11.5 Siemens
11.6 Mitsubishi Electric
11.7 Andritz
11.8 Basler Electric
11.9 Eaton
11.10 Erlphase Power Technologies
11.11 NR Electric
11.12 SEL
11.13 Toshiba
11.14 ZIV
For more information about this report visit https://www.researchandmarkets.com/research/v7v66x/global_busbar?w=5
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