Busbar Protection Market Projected to Grow at a CAGE of 6.10% From 2018 to 2023

The global busbar protection market is projected to grow at a CAGR of 6.10% from 2018 to 2023. Asia Pacific is estimated to be the largest market for busbar protection, followed by North America and Europe in 2018. This trend is expected to continue till 2023. Also, Asia Pacific is projected to be the fastest growing market during the forecast period. The growth of the busbar protection market is driven by the rising investments in T&D projects and increasing upgrade of T&D infrastructure, triggered by the rising demand for energy.

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Some global players dominate the busbar protection market. The key players in the busbar protection market include ABB (Switzerland), Schneider Electric (France), GE (US), Siemens (Germany), Mitsubishi Electric(Japan), NR Electric (China), Toshiba (Japan), Eaton (Ireland), and ZIV (Spain).

 

Major strategies adopted by the players are contracts & agreements, partnerships, collaborations, alliances, and joint ventures, mergers & acquisitions, and investments & expansions from 2014 to February 2018. Contracts & agreements was the most commonly adopted strategy. Industry players also adopted investments & expansions and new product launches, which were the second and third most widely followed strategies, respectively, during the same period.

 

ABB (Switzerland), manufactures and distributes electrification, robotics & motion, power grid, and industrial automation products for utilities, transportation, infrastructure, and industrial sectors. The company is one of the leading manufacturers of power grid products. The company operates through 4 divisions, namely, power grids, electrification products, robotics & motion, and process automation. The company offers busbar protection solution under its substation automation subsegment of the electrification division, which also offers protection solution for generators, motors, transformers, and feeders. The company has a presence in over 100 countries with production and R&D centers located across the globe. It has approximately 320 consolidated operating and holding subsidiaries worldwide. The company has adopted contracts & agreements as its key strategy. For instance, in October 2017, ABB won an order of around USD 130 million (£99 million) to build the power transmission infrastructure for EDF Energy’s new Hinkley Point C power plant in Somerset. As part of the contract, ABB would supply six 700 Megavolt ampere generator transformers, six auxiliary transformers, 400-kilovolt gas-insulated switchgear, and control & MicroScada systems, as well as the transmission feed to transfer power from the plant.

 

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GE (US) is a digital industrial company. The company operates through 8 business segments, namely, power, aviation, healthcare, transportation, oil & gas, renewable energy, capital, and lighting. The company provides busbar protection through its power segment. The power grid business segment provides MV/HV equipment (transformers, substations, breakers, and regulators), software solution, and automation & protection (digital solutions) for power, oil & gas, mining, and other sectors. The company offers busbar protection solution under the automation & protection subsegment. GE has a presence in 180 countries with R&D facilities in the US, Brazil, India, Germany, and China. It has 206 manufacturing plants located in 40 states in the US and Puerto Rico and 295 manufacturing plants located in 39 other countries. The company has adopted contracts & agreements as its key strategy. In February 2018, GE Power has been awarded a contract through its joint venture, KAPES, by Korea Electric Power Corporation (KEPCO) to provide equipment and expertise to deliver a 4 GW HVDC transmission link from the power complex located in East of South Korea, to Seoul’s metropolitan area.