GCC Protective Relay Market Size Is Expected To Reach USD 377.4 Million By 2024Posted by Neha Bora on January 27th, 2020 San Francisco, 27 January 2020: The Report GCC Protective Relay Market Analysis By Voltage (Low, Medium, High), By Application (Feeder Protection, Generator Protection, Bus-Bar Protection, Capacitor Bank Protection, Breaker Protection, Transformer Protection), By End-Use (Infrastructure, Industrial, Government, Power) And Segment Forecasts To 2024 The GCC protective relay market is expected to reach USD 377.4 million by 2024, according to a new report by Grand View Research, Inc. Escalating investments in the transmission & distribution infrastructure to substitute the aging equipment is a key factor instigating the protective relay demand in the power systems. The increasing complexity of electrical circuits has made it unavoidable to use protective devices for the safe & secure operation. The increasing electricity generation capacity to fulfill the growing population’s electricity needs is anticipated to remain as a chief factor driving the market growth. However, the cost associated with the installation & maintenance of protective relays is projected to challenge the market over the forecast period. The GCC protective relay market is expected to gain prominence over the forecast period owing to the population growth coupled with the increasing domestic power consumption in Saudi Arabia. Furthermore, upcoming events, such as 2022 FIFA World Cup, would further lead to increased investments in the infrastructure development, thereby spurring the electricity demand in GCC. This would subsequently elevate the need for protective relays to safeguard the power systems in this region. Access Research Report of GCC Protective Relay Market @ https://www.grandviewresearch.com/industry-analysis/gcc-protective-relay-market Further key findings from the report suggest:
Grand View Research has segmented the GCC protective relay market on the basis of voltage, application, end-use, and region: GCC Protective Relay Voltage Outlook (Revenue, USD Million; 2010 - 2024)
GCC Protective Relay Application Outlook (Revenue, USD Million; 2010 - 2024)
GCC Protective Relay End-Use Outlook (Revenue, USD Million; 2010 - 2024)
GCC Protective Relay Regional Outlook (Revenue, USD Million; 2010 - 2024)
Like it? Share it!More by this author |