According to a MarketsandMarkets research report, Busbar Protection Market by Voltage, Impedance, End-User, and Region - Global Forecast to 2023, the global market is expected to grow from an estimated $3.2 Billion in 2018 to $4.31 Billion by 2023, at a CAGR of 6.10%, during the forecast period. The market is set to witness growth due to the adoption of smart grids and HVDC technology in the utilities sector. Favorable government policies coupled with increasing emphasis on renewable energy sources globally will also boost the growth of the busbar protection market.
- The utilities market is expected to be the largest Busbar Protection Market, by end-user, in 2018.
- The low-impedance segment is expected to hold the largest share of the Busbar Protection Market, by impedance, during the forecast period.
- Asia Pacific: Key market for busbar protections market during the forecast period.
- Top players in the include ABB (Switzerland), Schneider Electric (France), GE (US), Siemens (Germany), Mitsubishi Electric (Japan), NR Electric (China), Toshiba (Japan), Eaton (Ireland), and ZIV (Spain).
If you really need to know more, browse select portions of the report.