The Protective Relay market report offers key insights on the past and current developments that could allow stakeholders to evaluate thoroughly various scenarios and increase their earnings during the forecasted period. The estimations found in the study are calculated using verified research techniques, along with primary and secondary sources. The document evaluates multiple factors such as growth opportunities, present and future challenges, and other elements that are impacting the growth potential of this marketplace. It also assists in identifying various ways to overcome challenges and limits that are restraining the overall market expansion. The document also highlights the sub-segments to evaluate the market’s total size and scope as well.
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Global Protective Relay Market is valued approximately at USD 3.82 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 7.40% over the forecast period 2019-2026. A protective relay is a type of relay device, which is mainly designed to trip a circuit breaker, when a fault is spotted. It is an automatic gadget which can sense any abnormal situation such as faults of the electric circuit. It also assist in removing the spotted faulty portion from rest of the circuit. Protective relays plays a vital role in various fields, comprising equipment protection, power generation and transmission & distribution. They are installed in the circuit to reduce the electrical breakdowns affected by the fault currents and transients that flow via the circuit, and to alleviate their effects. Surging investment in transmission & distribution infrastructure and renewable sources, increase in power production capacity worldwide and rapid growth in urbanization & industrialization are the few factors responsible for high CAGR of the market over the forecast period. For instance, As per the T&D World, electric utilities would invest around USD 3.2 trillion globally in the new and replacement of transmission & distribution infrastructure during 2017-2027. Also, according to the European commission, it is estimated that $28.44 billion is required to be invested in renewable sources between 2020 and 2050. These initiatives aims to strengthen the demand for protective relay around the world. Moreover, growing demand for electronic devices along with surging utility of high-voltage direct current transmission is the major factor likely to create lucrative growth opportunities to the market growth in the forecast years. However, high installation and maintenance cost is one of the major factors responsible for the hampering the growth of global Protective Relay market during the forecast period.
The regional analysis of global Protective Relay Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to increase in investment in renewable sector coupled with the modernization of grid infrastructure in the region. However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Further, growing infrastructural development in India & China due to the increasing economic growth in these countries is further expected to spur the demand of protective relay over the forecast period.
Major market player included in this report are:
Schneider Electric SE
Mitsubishi Electric Corporation
NR Electric Co. Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Voltage Range:
High-Voltage Protective Relay
Medium-Voltage Protective Relay
Low-Voltage Protective Relay
Transmission Line Protection
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year â€“ 2016, 2017
Base year â€“ 2018
Forecast period â€“ 2019 to 2026
Target Audience of the Global Protective Relay Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
Key questions answered in the report:
- Which are the five top players of the Global Market?
- How will the Global Market change in the next five years?
- Which product and application will take a lion’s share of the Global Market?
- What are the drivers and restraints of the Global Market?
- Which regional market will show the highest growth?
- What will be the CAGR and size of the Global Market throughout the forecast period?
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