Protection Relay Market to Witness High Demand Due to Growth in Renewable Industry

Protection Relay Market is forecasted to grow at 7.29% for 2020 to 2027 to an estimated value of USD 6.97 billion by 2027 with factors such as unofficial market of the protection relays and risk associated with cyber security hampering the market growth.

Protection relay market has shown a significant adoption rate and preferences from the Asia- Pacific region. This is due to improvement in the electrical infrastructure and installation of new distribution & transmission lines in the region.

Protection Relay Market Scenario

According to Data Bridge Market Research the protection relay market in developing regions is witnessing a growth in terms of its adoption rate, due to growth in renewable industry, increasing industrialization & urbanization, increasing power demand and rising demand for electronic devices.

Now the question is which are the regions that protection relay market players should target? Data Bridge Market Research has forecasted market leaders to target North- America and Europe developing regions to help them in attaining better volume of revenue generation.

Protection relay market is becoming more competitive every year with feeder protection currently being the largest market protection mechanism for the forecasted period of 2020 to 2027. Data Bridge Market Research’s new report highlights the major growth factors and opportunities in the protection relay market.

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Protection Relay Market Development

Littelfuse, Inc. announced the acquisition of IXYS Corporation in January 2018 which will help the company strengthen them in the industrial OEM and power control market. This acquisition will also provide opportunity to the company to enhance their product offering and enhance their customer reach.

Scope of the Protection Relay Market

Protection relay market is segmented on the basis of countries into U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa.

  • All country based analysis of the protection relay market is further analyzed based on maximum granularity into further segmentation. On the basis of voltage ranges, the protection relay market is segmented into high voltage, medium voltage, low voltage, protection mechanism feeder protection, motor protection, transmission line, generator protection, busbar protection, capacitor bank, and breaker. Based on protection mechanism, the protection relay market is segmented into feeder protection, motor protection, transmission line, generator protection, busbar protection, capacitor bank, and breaker. End- user segment of the protection relay market is segmented into utilities, industrial, commercial & institutional, renewable, marine, oil & gas, food & beverages, automotive and others. Application segment of the protection relay market is divided into line protection, generator protection, transformer protection and others. Type segment of the market is divided into electromagnetics relays, solid- state relays, microprocessor relays and other.
  • Protection relay is a sensing device which is specially designed so they can trip a circuit breaker whenever they can sense or detect any fault. They have the ability to decrease the chances of fire and other life threatening events. They can function on both AC and DC power supply and they usually work upon the electromagnetic attractions. They are widely used in industries such as marine, oil& gas, food & beverage, automotive, and others. Transformer protection, generator protection, line protection and other are some of the common application of the protection relay.

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Key Pointers Covered in the Protection Relay Market Industry Trends and Forecast to 2027

  • Market Size
  • Market New Sales Volumes
  • Market Replacement Sales Volumes
  • Installed Base
  • Market By Brands
  • Market Procedure Volumes
  • Market Product Price Analysis
  • Market Shares in Different Regions
  • Recent Developments for Market Competitors
  • Market Upcoming Applications
  • Market Innovators Study

Key Market Competitors Covered in the report

  • Toshiba Energy Systems & Solutions Corporation
  • Woodward, Inc.
  • Eaton
  • Siemens
  • Schneider Electric
  • ABB
  • General Electric Company
  • Rockwell Automation, Inc.
  • Basler Electric
  • Littelfuse
  • ZIV
  • ERLPhase Power Technologies Ltd
  • Schweitzer Engineering Laboratories, Inc.
  • Mitsubishi Electric Corporation
  • NR Electric Co., Ltd.

Above are the key players covered in the report, to know about more and exhaustive list of protection relay companies, contact us

Research Methodology: Global Protection Relay Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global Vs Regional Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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