Global Protective Relay Market is Expected to Reach a Value of USD 6.20 billion by 2027

Protective Relay Market is expected to rise at annual rate of 6.05% in the forecast period of 2020 to 2027 and is anticipated to reach USD 6.20 billion by 2027 due to accelerating growth of the renewable industry and rapid urbanization along with industrialisation worldwide are driving the market growth during the forecast period of 2020 to 2027.

Moreover, the shifting inclination towards electronic devices, increase in the usage of high voltage direct current transmission and intelligent controllers will further cater new and ample opportunities for the growth of protective relay market in the above mentioned forecast period.

Protective Relay Market Scenario

According to Data Bridge Market Research, the market for protective relay is accelerating owing to expanding demand of power in the industries and rising prevalence of enhanced transmission and distribution network. Some of the restraints may hinder the growth of the market such as, rising gray market along with increasing cyber security issues.

Now the question is which are the other regions that protective relay market is targeting? Data Bridge Market Research has forecasted Asia-Pacific to dominate the protective relay market owing to the pervasiveness of better and modernized infrastructure along with rising levels of investment for the growth of renewable sector.

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Protective Relay Market Development

  • In November 2019, Siemens had launched the new Reyrolle 5 series of digital protection relays, which proffer earth fault protection and over current transformer protection in substations. This product launch will help the company to enhance its product portfolio.

Protective Relay Market Scope

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

  • All country based analysis of protective relay market is further analyzed based on maximum granularity into further segmentation. Protective relay market on the basis of voltage range has been segmented as high-voltage protective relay, medium-voltage protective relay, and low-voltage protective relay. On the basis of application, protective relay market has been segmented into feeder protection, transmission line protection, motor protection, transformer protection, and generator protection. Protective relay has also been segmented on the basis of end user into utilities, industries, renewable, and marine. 
  • A protective relay is used to register voltage dips, power loss, or over voltages in order to evade major accidents, flashovers, and other incidents. Protective relay is used to detect any irregularity in the current voltage or any other electric power measurements.

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

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

Key Market Competitors Covered in the Report

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

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

Research Methodology of Protective Relay Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed 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, Top to Bottom 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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