Busbar Protection Market Outlook 2018 - Huge Growth, Trends, Revenue And In-Depth Analysis 2023 | MarketsandMarkets Blog - 0 views
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Almira Coyne on 12 Jun 20The busbar protection market is expected to grow from an estimated USD 3.20 Billion in 2018 to USD 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 and create new revenue pockets for the market during the forecast period. Furthermore, favorable government policies coupled with increasing emphasis on renewable energy sources globally would boost the growth of the busbar protection market during the forecast period. Delays in grid expansion projects act as a restraint for the busbar protection market.