Busbar protection market size to expand significantly by the end of 2025
Increasing global demand for energy encouraged by rapid industrialization and economic growth is probable to be one of the major drivers of overall power system development. To achieve the energy security goal the governments in different countries are investing in energy development projects. Increase in investments for smart grid technologies and smart cities are further creating mandate of demand for transmission and distribution infrastructure, which, in return creating a requirement of busbar protection.
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A busbar is a band bar of copper, brass, or aluminum which conducts electricity from a switchboard, a substation, or battery bank. Its purpose is to conduct a substantial current of electricity. The Busbar protection strips are planned for phase-segregated short-circuit protection, control, and supervision of single busbars.
New power systems and substations are designed to meet the economic requirements. At the distribution side, the addition of a new power generation source requires busbar protection over a period of time. When a fault occurs at the busbars, it gets interrupted, and the other well feeders are disconnected.
Busbar protection schemes, especially applicable to large buses, are complex in nature. The multiple analog and digital signals are wired from primary equipment located at various locations within the substation to the central protection house where the bus protection scheme is used. The implementation of bus protection schemes is recommended for greenfield installations, where the process bus is installed and wired on the primary equipment during manufacturing.
In terms of type, the busbar protection market can be classified into decentralized and centralized type. In the centralized busbar protection, copper wires from current transformers and tripping circuits to circuit breakers are connected at a central area. In the decentralized busbar protection type, the units are installed at the protection panels to provide the interfaces from the primary equipment. In terms of impedance levels, the busbar protection market can be segmented into high impedance, medium impedance, and low impedance.
Demand in the low impedance segment is high, and the trend is expected to continue over the forecast period. Countries such as the India, China, and the U.S. and the U.K are investing for developing UHVDC, HVDC and UHV systems for power transmission for the remote locations to the load areas. Moreover, the increasing pace of investment in smart grids and smart substation networks is driving demand for low-impedance busbar using microprocessor technologies.
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Based on application, the busbar protection market can be divided into utilities, industries, and transportation. The demand for busbar protection in utilities is expected to remain high over the forecast period.
In terms of voltage level, the busbar protection market can be divided into low, medium, and high voltage levels.
Based on region, the busbar protection market can be classified into North America, Latin America, Europe, Middle East & Africa, and Asia Pacific. Asia Pacific is expected to dominate the busbar protection market during the forecast period due to the rise in demand for automated grid systems and enhancement in grid connectivity through the integration of IoT activities. Various policy support measures for exploration could boost investments in the market. The busbar protection market in countries such as China, India, Japan, Vietnam, Malaysia, Thailand, and Australia is likely to expand rapidly over the forecast period. For instance, China has large new installed generation and distribution capacity in the Asia Pacific region, resulting in increased demand for transmission and distribution infrastructure.
Key players operating in the bus bar protection market are ABB, General Electric, Siemens AG, Schneider Electric, Caterpillar Inc., S&C Electric Company, Mitsubishi electric company, and Eaton Corporation.
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