Global Protection Relay Market

Posted by Mayuri Kathade. on December 15th, 2019

Global Protection Relay Market was valued at US$ 3.90 Bn in 2017 and is expected to reach US$ 6.50 Bn by 2026, at a CAGR of 6.59 % during a forecast period.

A protective relay is a relay, which is considered to trip a circuit breaker when any fault is identified. A protective relay is known as an automatic gadget, which can sense any abnormal condition includes faults of the electric circuit. Protective relay assistances in detaching the identified faulty portion from the rest of the circuit.

The growing investment in distribution and transmission infrastructure, increasing awareness about safety standards within the power industry is the key factor in enhancing the global protective relays market. Extreme demand for protective relays to shelter power transmission lines is expected to drive the global protection relay market growth during the forecast period. Growing power demand, an emergent market for intelligent controllers and Increasing Demand for Electronic Devices are some of the opportunities in the global protection relay market.

Global Protection Relay Market

The objective of the report is to present a comprehensive assessment of the global protection relay market and contains considerate insights, facts, historical data, industry-validated market data and projections with appropriate set of traditions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments by material, type, end-user and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global protection relay market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.

Medium voltage Protection Relay is expected to share major contribution in the global protection relay market. The growth can be attributed to the development of transmission & distribution networks, advancement in the existing substations & feeder line protection, growing a renewable industry. Additionally, growing power demand, increasing modification in the Middle Eastern manufacturing industry, rising demand for electronic devices are the factors that are projected to increase demand for medium voltage protection relay.

Feeder Protection is estimated to share significant growth in the global protection relay market. Feeder protection is used for overhead lines and cables, is the most generally used type of protection. The protection has to confirm that the power grid remains to supply energy. In case of a fault, it must be prohibited from spreading to healthy parts of the network. The relays also have to minimalize damage to the cables and other connected equipment and to guarantee safety for everyone. There are several multi-functional protection relays are available for different application ranges. Among the some protection relays are used for general feeder protection means protection against over-current and as back-up protection. Feeder protection necessitates directional or time relays for discriminating tripping and insulating the faults automatically. The growth of automation in the electric power substation sector plays a vital role in the growth of this segment of the global protection relay market.

The industrial segment is estimated to witnessing substantial growth in the global protection relay market during the forecast period. The industrial segment contains oil & gas, chemical & pharmaceutical, metals & mining, and others. Regular delivery of power to machines is essential for all end-user industries.

Protection relays are widely used in industries to avoid damages to exclusive instruments instigated by some factors such as overload, over temperature, overcurrent, jams and undercurrent, high confrontation twisting faults, current, and voltage unbalance and phase reverse. Additionally, the increasing demand for protective relay from manufacturing industries and processing industries for protecting industrial machinery from damages in case of electrical short circuits or other circumstances.

Geographically, Asia Pacific is estimated to share significant growth in the global protection relay market. This growth is attributed to the increasing need for solar projects, growing smart grid demands, and rapid industrialization and urbanization in the region. Presence of a series of mergers & acquisitions in the region to take benefit of this growth. The main driver behindhand the high investments have been the continuous development. The developing economies India and China is expected to share major contribution owing to the increased transmission and distribution infrastructure, and the resulting these countries are estimated to be the major drivers for the protective relays market.

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Scope of the Report Global Protection Relay Market

Global Protection Relay Market, Voltage Ranges

• High Voltage

• Medium Voltage

• Low Voltage

Global Protection Relay Market, Protection Mechanism

• Feeder Protection

• Motor Protection

• Transmission Line

• Generator Protection

• Busbar Protection

• Capacitor Bank

• Breaker

Global Protection Relay Market, By End User

• Utilities

• Industrial

• Commercial & Institutional

• Renewable

• Marine

Global Protection Relay Market, By Geography

• North America

• Europe

• Asia Pacific

• Middle East & Africa

• South America

Key players in Global Protection Relay Market

• Toshiba Corporation

• Larsen & Toubro

• Woodward

• Eaton

• Siemens

• Schneider Electric

• ABB

• General Electric

• Rockwell

• Powell Industries

• Basler Electric Co.

• Solcon

• Terasaki

• Littelfuse Inc.

• Beckwith Electric Co. Inc.

• ZIV Inc.

• ERL Phase Power Technologies Ltd.

• Schweitzer Engineering Laboratories

• Alstom Group, Schneider Electric

• Cooper Industries

• NR Electric

• Mitsubishi Electric Corporation.

This Report Is Submitted By : Maximize Market Research Company

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