Busbar Protection Market: Top Manufactures, Revenue, Cost Structure and Future Prospects 2021-2027

Busbar Protection Market: Top Manufactures, Potential Revenue, Cost Structure and Future Prospects 20212027 The report covers a forecast and an analysis of the Busbar Protection Market on a global and regional level.

The study provides historical data for 2018, 2019, and 2020 along with a forecast from 2019 to 2027 based on revenue and volume.

Pune, India, June 2021 /ProgMark Press Release/- Market Prognosis announces the publication of its research report: Busbar Protection - Global Market Outlook 2019-2027 According to the Market Prognosis research study, the Global Busbar Protection Market is accounted for $3.55 Billion in 2019 and is expected to reach $6.62 Billion by 2027 growing at a CAGR of 8.1% during the forecast period.

Busbar protection is a protection scheme meant to protect the busbar from an electrical fault.

Various feeders are connected to a busbar through circuit breaker in any of the bus configuration.

Busbar protection scheme incorporates busbar differential relay which may either be high impedance or low impedance differential relay. There are different and the number of busbar protection schemes, the most popular amongst are differential protection, frame-earth protection, reverse-blocking/interlocking protection.

Major key factors driving the growth of the Global Busbar Protection Market are increasing investments in transmission and distribution infrastructure and operational benefits of busbar protection relays. However, a delay in grid expansion projects is restraining the market growth.

Moreover, adoption of HVDC technology and increased investments in smart grids and energy systems would provide ample opportunities for the market growth.

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International Business News: ABB (May 28, 2021) - ABB collaborates with Equinor on digital integration to improve operations at offshore assets - ABB has begun a pilot project with Equinor in Norway, at the Gina Krog platform in the North Sea. The project enables a digital transformation of monitoring of critical electrical systems on the platform, accelerating Equinor’s condition monitoring capabilities with a focus on improving safety, reducing operational costs, and increasing production efficiency.

Adopting a collaborative maintenance model enables Equinor to start the journey from today’s planned maintenance program towards prescriptive maintenance.

Data will be transferred from the platform’s power management system and electrical condition monitoring system to Equinor’s OMNIA Microsoft Azure cloud platform, using an onsite ABB EdgeInsight data pump.

From here live data will be securely streamed to ABB’s own Microsoft Azure cloud where a dedicated team will utilize the data to continuously improve condition monitoring technology and tools to be used by ABB’s Reliability Service team.

By streaming data directly to ABB, Equinor is securely transporting high-level information from assets that will deliver transparency on performance, better predictability, and process optimization.

Per Erik Holsten, Head of Energy Industries for Northern Europe at ABB commented: “By collaborating with Equinor in this way, we will make sure that they have real time electrical equipment health visibility. In addition, we are contributing to meeting reliability performance targets and reducing the cost of interruptions.

As the pilot progresses, ABB will take over day-to-day condition monitoring operations for the critical electrical equipment, to be managed offsite by ABB’s Reliability Service team. This will be done in close co-operation with Gina Krog personnel and Equinor’s Integrated Operations Center (IOC). ABB engineers will work inside Equinor’s Enterprise Resource Planning (ERP) system, helping with generation of notifications.

Vice President Operations Bernt E. Tysseland from Equinor said: “Through this project and collaboration we can utilize operations data in a much leaner and faster way. By allowing ABB’s experts to work digitally along-side Equinor personnel we can improve safety and reduce maintenance administration hours."

Once onboarded, ABB and Equinor will jointly investigate the opportunity to apply the same approach for other relevant equipment.

Holsten finished: “The COVID-19 pandemic, alongside the global drive towards more sustainable operations, has highlighted the importance of building resilience and enabling adaptability within operational models. Increasingly our customers are looking for the benefits that leaner, more autonomous onsite operations, supported by teams remotely, offsite can deliver.”

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Global Key Players: Some of the key players profiled in the Busbar Protection Market include ABB, Andritz, Basler Electric, Benchmarking, Eaton, Erlphase Power Technologies, GE, Mitsubishi Electric, NR Electric, Schneider Electric, SEL, Siemens, Toshiba, ZIV. New product launches and continuous technological innovations are the Busbar Protection Market strategies adopted by the major players.

This study provides answers to the below key questions: 1 What will the market size be in 2027 and what will the growth rate be?

2 What are the key market trends?

3 What is driving the Busbar Protection market?

4 What are the challenges to market growth?

5 Who are the key players in the Busbar Protection market?

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