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Global Protective Relay Market – Industry Trends and Forecast to 2029

Semiconductors and Electronics

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Global Protective Relay Market – Industry Trends and Forecast to 2029

  • Semiconductors and Electronics
  • Upcoming Report
  • Jun 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Protective Relay Market – Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 4.28 USD Billion
Diagram Market Size (Forecast Year) USD 7.01 USD Billion
Diagram CAGR %

Major Markets Players

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Global Protective Relay Market, By Voltage Range (High-Voltage Protective Relay, Medium-Voltage Protective Relay, Low-Voltage Protective Relay), Application (Feeder Protection, Transmission Line Protection, Motor Protection, Transformer Protection, Generator Protection), End User (Utilities, Industries, Renewable, Marine) - Industry Trends and Forecast to 2029

Protective Relay Market

Market Analysis and Size

Protective relay is being widely utilized as a fault sensing device that offers the tripping command to the circuit breaker. They are effective in declining the damage caused to the other devices or equipment in the circuit. Modern variants are more efficient and cost-effective as they are microprocessor-based digital devices.

Global Protective Relay Market was valued at USD 4.28 billion in 2021 and is expected to reach USD 7.012 billion by 2029, registering a CAGR of 6.35% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

Protective relay is defined as a mechanical or digital system that is widely used in electrical circuits for enhancing failures in generators, transformers and motors. It assists in receiving inputs in the form of voltage, temperature, current, and resistance, and comparing them to set points.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Voltage Range (High-Voltage Protective Relay, Medium-Voltage Protective Relay, Low-Voltage Protective Relay), Application (Feeder Protection, Transmission Line Protection, Motor Protection, Transformer Protection, Generator Protection), End User (Utilities, Industries, Renewable, Marine)

Countries Covered

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

Market Players Covered

ABB (Switzerland), General Electric (US), Mitsubishi Electric Corporation (Japan), Schneider Electric (France), Toshiba Energy Systems & Solutions Corporation (Japan), Fanox (Spain), Basler Electric (US), Eaton (Ireland), Littelfuse, Inc (US), Siemens (Geermany), Schweitzer Engineering Laboratories, Inc. (US), NR Electric Co., Ltd. (China), Woodward, Inc. (US), Rockwell Automation, Inc (US), Powell Industries. (US), and TERASAKI ELECTRIC CO.,LTD (Japan), among others

Market Opportunities

  • Increase in power demand and investments in smart grid infrastructure
  • Change in the face of the middle eastern manufacturing industry
  • Rise in economic growth

Protective Relay Market Dynamics

This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • Modern Energy Services

The rise in economic growth acts as one of the major factors driving the protective relay market. Also, increase in the need for reducing poverty and improving the quality of life with the help of modern energy services has a positive impact on the market.

  • Internet of Things (IoT)

The rise in the applications of the Internet of Things (IoT) including smart homes, smart cities, Machine-to-Machine (M2M) communications, and Industrial IoT (IIoT), among various others accelerate the market. The rise in adoption of home and building automation systems drives the market further.

  • Timely Investment

The surge in need for long term energy safety that is timely investment to supply energy further influence the market. It offers economic development and sustainable environment across the globe. The rise in the telecommunication sector assist in the expansion of the market.

Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the protective relay market.

Opportunities

Furthermore, increase in power demand and investments in smart grid infrastructure extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, change in the face of the Middle Eastern manufacturing industry will further expand the market.

Restraints/Challenges

On the other hand, cyber security of numerical relays and lack of investment in grid stability in developing countries are expected to obstruct market growth. Also, increase in competition from the unorganized sector is projected to challenge the protective relay market in the forecast period of 2022-2029.

This protective relay market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on protective relay market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Protective Relay Market

The COVID-19 had a negative impact on the protective relay market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand protective relay technology. The supply chain got hampered during the pandemic along with delay logistics activities. However, the protective relay market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.

Global Protective Relay Market Scope and Market Size

The protective relay market is segmented on the basis of voltage range, application and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Voltage Range

  • High-Voltage Protective Relay
  • Medium-Voltage Protective Relay
  • Low-Voltage Protective Relay

Application

  • Feeder Protection
  • Transmission Line Protection
  • Motor Protection
  • Transformer Protection
  • Generator Protection

End User

  • Utilities
  • Industries
  • Renewable
  • Marine

Protective Relay Market Regional Analysis/Insights

The protective relay market is analyzed and market size insights and trends are provided by country, voltage range, application and end user as referred above.

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

North America dominates the protective relay market because of the increase in the adoption of these solutions within the region.

Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 because of the surge in government initiatives in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Protective Relay Market

The protective relay market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to protective relay market.

Some of the major players operating in protective relay market are

  • ABB (Switzerland)
  • General Electric (US)
  • Mitsubishi Electric Corporation (Japan)
  • Schneider Electric (France)
  • Toshiba Energy Systems & Solutions Corporation (Japan)
  • Fanox (Spain)
  • Basler Electric (US)
  • Eaton (Ireland)
  • Littelfuse, Inc (US)
  • Siemens (Germany)
  • Schweitzer Engineering Laboratories, Inc. (US)
  • NR Electric Co., Ltd. (China)
  • Woodward, Inc. (US)
  • Rockwell Automation, Inc (US)
  • Powell Industries. (US)
  • nd TERASAKI ELECTRIC CO.,LTD (Japan)d


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated 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 drop down your inquiry.

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. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional 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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FREQUENTLY ASK QUESTIONS

The Protective Relay Market is expected to witness CAGR of 6.35% in the forecast period of 2022-2029
The Protective Relay Market value is expected USD 7.012 billion by 2029.
On the basis of application, the Protective Relay Market is segmented into Feeder Protection, Transmission Line Protection, Motor Protection, Transformer Protection, Generator Protection.
The major players operating in the Protective Relay Market are ABB (Switzerland), General Electric (US), Mitsubishi Electric Corporation (Japan), Schneider Electric (France), Toshiba Energy Systems & Solutions Corporation (Japan), Fanox (Spain), Basler Electric (US), Eaton (Ireland), Littelfuse, Inc (US), Siemens (Geermany), Schweitzer Engineering Laboratories, Inc. (US), NR Electric Co., Ltd. (China), Woodward, Inc. (US), Rockwell Automation, Inc (US), Powell Industries. (US), and TERASAKI ELECTRIC CO.,LTD (Japan), among others.
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