Rising adoption of smart grid technologies and growing urbanization and industrialization drives the busbars systems market towards growth
The global market for busbar systems is projected to witness high growth due to rising adoption of smart grid technology and growing industrialization and urbanization, according to according to Verify Markets analysis. Energy efficiency and energy conservation are the best practices carried out in power generation and power transmission industry. Busbars are under the power transmission section. Usually cables, conductors and insulators are the part of power transmission systems. Energy efficiency and energy conservation are essential practices while transmitting electricity. For transfer of electricity, an efficient network should be employed. Busbar systems play a vital role in establishing energy efficient systems while transmitting the power from grid to various end user industries.
Busbar systems are used for flexible rail-adaptable connection, switching and installation devices. A busbar system forms an ideal and cost-effective electro technical enrichment of modern distribution boards, owing to their compact and space saving design and quick assembly contacts. Busbar systems, or busbar trunking systems, are favored greatly over traditional cables due to the flexibility of the available tap-off locations. Busbars systems can replace cables, avoiding the plethora of cables in the power transmission and saving the ample space.
Busbars systems are used in various applications including utilities, industrial, residential, commercial, institutional, infrastructure and transportation applications. Utilities constitute of a major part in the busbars trunking systems among the entire end user segment. Growing awareness towards energy efficiency and energy conservation has made the utilities segment surge.
The busbars systems market is segmented according to the voltage range into high, medium and low voltage. Busbars of low voltage range are generally employed for lighting purposes in small buildings, factories, warehouses, subways, metros and marine applications. The medium voltage range busbars systems are ideal for interconnecting the main power source and electrical loads of hotels, departmental stores, hospitals, data centers, and offices. The high voltage busbar systems are mostly used in the power generation, transmission and distribution infrastructure, which includes renewable power generation and off-grid applications. The high voltage range of busbar systems are dominant among all the voltage ranges deployed.
Companies like Eaton Corporation, Schneider, Siemens AG, and ABB, and Legrand SA (among others) are major players in the busbars systems market.
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