Electricity Sourced from Renewables is Growing in India

Busbar Market

A bus bar is a metallic strip or bar commonly found inside switchgear, panel boards, and busway enclosures. It serves as a critical role in local high-current power distribution. It acts as a conductor or group of conductors that collects electric power from incoming feeders and distributes it to outgoing feeders. It’s working as an electrical junction where all incoming and outgoing electrical currents converge, a busbar centralizes the electric power at a single location. 

Increasing demand for reliable and continuous electricity supply along with growing focus to lowers energy losses across transmission and distribution lines will propel the market share. Rapid urbanization along with increasing funding toward infrastructure development are some of the indispensable factors enhancing the electricity demand across the globe. 

• As per the International Energy Agency, Global electricity consumption in 2022 was 24,398 terawatt-hours. 

Rapid urbanization and infrastructural development projects, particularly in evolving economies, are driving the busbar market demand. Such projects require reliable and efficient electrical power distribution systems, where busbars play a crucial role. Moreover, the rising focus on renewable energy sources, such as solar and wind, has led to the integration of large-scale renewable energy installations. Busbars are utilized in these installations for effective power transmission from the source to the grid or end-users.

• The Power ministry of India has recently unveiled a plan for investment of USD 2,500 billion in building transmission infrastructure for meeting the vision of 500 GW of renewable energy capacity by 2030 to meet its energy transition goal. 
• The consumption of energy in petajoules from Coal and Lignite was the highest which was estimated for about 48% of the total consumption during 2021-22, followed by Crude Oil (31%) and Electricity (14%).