Protective Relay Market: Global Industry Analysis and Forecast (2021-2027), Technology Trends, Sales Volume Analysis, Market Share, Industry Share, Market Size.

Protective Relay Market size was valued at US$ 2.0 Bn. in 2020 and the total revenue is expected to grow at a CAGR of 5.9% through 2021 to 2027, reaching nearly US$ 2.99 Bn.

Protective Relay Market Overview:

A protective relay is a device that detects a defect in the circuit breaker's operation and isolates the faulty component from the rest of the system. The protective relay is an important component of the circuit protection system because it ensures that an electrical circuit operates safely. The magnitude of a quantity like current or power may cause a protective relay to react. Working and restraint coils, groups of induction discs, telephone-relay connections, and phase-shifting networks are all used in protection relays. Protective Relay Market To know about the Research Methodology :- Request Free Sample Report Though market forecasting through 2027 is based on real output, demand and supply of 2020, 2020 numbers are also estimated on real numbers published by key players as well all-important players across the world. Market forecasting till 2027 is done based on past data from 2016 to 2019 with the impact of global lock down on the market in 2020 and 2021.

Global Protective Relay Market Dynamics:

The global market is primarily driven by rising power substation construction to supply electricity for domestic and cost-effective use, which necessitates the use of a protective relay to trigger alarm switches, as well as the growing popularity of smart grid machinery for energy management. Furthermore, the increasing demand for development substations is expected to fuel the global market. However, the ongoing demand for power, as well as the most pressing challenge of insecure electricity supply in most emerging countries, are expected to drive the growth of the protective relays market distribution during the forecast period. Voltage, current, frequency, and power are all continuously monitored by the protective relay. By isolating the defective component of the system, it improves system stability. The protection relay clears the fault quickly, minimising the harm. The relay detects and isolates malfunctioning areas of the system from the remainder of the system. It reduces the chance of a fire. Ensure electrical safety and the safety of everyone working on the system. Pre-alarm allows the operator to take action sooner. There are numerous components in the protective relay. The relay's dependability is determined by the reliability of all relay components. As a result, all components and circuits involved in relay functioning play a critical role; for example, if current and voltage are not supplied to the relay, it will operate in an unreliable manner. To maximise safety and minimise equipment damage and system instability, a protective relay should remove the fault as rapidly as possible. To put it another way, to isolate the malfunctioning piece, the relay must trip the nearest breaker. This is determined by the relay timing as well as the trip duration of the circuit breaker. A rapid circuit breaker will typically function in two cycles. These are the major key factors that are expected to drive the growth of the global market during the forecast period 2021-2027. Global Protective Relay Market Segment Analysis: The Global Protective Relay Market is segmented by Voltage, End-User, Technology, and Application. Based on the Technology, the market is segmented into Electromechanical & Static Relay, and Digital & Numerical Relay. The Digital & Numerical Relay segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2021-2027. Due to increased attention on substation automation, smart grid installation, and distribution and transmission infrastructure construction, the digital & numerical segment is expected to grow at the fastest rate. These are advanced relays that combine various protection functions, as well as metering, communication, self-testing, and other features, into a single unit. These protective relays, also known as microprocessor type protective relays, detect problems using software-based protection methods. Digital relays have more advanced features than electromechanical relays, making them more appealing in the market. Based on the Application, the market is segmented into Transmission line, Busbar, Transformer, Feeder, Generator, Motor, and Others. The motor segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2021-2027. The manufacturing and commercial sectors drive the motor protection relay market. Rising commercial activities and growth in the industrial segment, particularly in manufacturing sectors (chemical, mining, energy) in China, India, Japan, and South Korea, are expected to fuel demand for the motor protection relay market segment. Protective Relay MarketBased on the End-User, the market is segmented into Utilities, Industrial, Railways, and Others. Utilities end-user segment is expected to hold the largest market share of xx% by 2027. This is due to the utilities' widespread usage of protective relays in many applications, including transformers, feeders, busbars, and others. Due to the growth of new distribution networks and grid major projects, the replacement of old electromechanical protective relays with new and more advanced numeric relays, substation automation for improved power quality, and the adoption of smart grids for better grid management, the utility segment is expected to maintain its dominance during the forecast period 2021-2027. Protective Relay Market

Global Protective Relay Market Regional Insights:

The Asia Pacific dominates the Global Protective Relay market during the forecast period 2021-2027. The Asia Pacific is expected to hold the largest market shares of xx% by 2027. Two densely populated countries, India and China, dominate the Asia-Pacific region. Rising population in countries like China, Japan, and India has boosted demand for residential infrastructure and power consumption, hence accelerating electricity demand in the above-mentioned countries is a key factor driving demand for protective relays. The growth of protective relay in the Asia Pacific is due to the inclusion of more renewable energy capacity. Additionally, rising grid infrastructure operations and a concentration on substation automation under the IEC 61850 standard are expected to drive the market in Asia Pacific during the forecast period. These are the major factors that drive the growth of this region in the Global market during the forecast period 2021-2027. Protective Relay Market Market Key Trends: Renewable Energy is expected to drives the demand for Protective Relays Renewable energy (RE) was chosen as an alternative power source because it is environmentally benign, eco-green, and, most importantly, sustainable. Solar energy is one type of renewable energy that has a huge potential to help with energy security and meet part of the world's electrical demands. The key factor driving demand for protective relays in this application type is the growing need for solar electricity, which is being fueled by the extended installation and remodeling of the smart grid. Within a smart grid, Protective Relaying Devices (PRD) are utilised at various functional levels and for various purposes to automatically avoid or minimize power outages, power quality issues, and service disruptions. They're built in such a way that if one section of the network fails, end consumers won't lose power. In addition, the number of distribution networks and transmission lines is increasing in response to the increased demand for electrical equipment among end-users. This is expected to grow the market for protective relays by increasing the number of substations in the forecast period. Protective Relay MarketThe objective of the report is to present a comprehensive analysis of the Global Protective Relay Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Global Protective Relay Market dynamic, structure by analyzing the market segments and project the Global Protective Relay Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Protective Relay Market make the report investor’s guide.

Global Protective Relay Market Scope: Inquire before buying

Global Protective Relay Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 2.0 Bn.
Forecast Period 2021 to 2027 CAGR: 5.9% Market Size in 2027: US $ 2.99 Bn.
Segments Covered: by Voltage • Low • Medium • High
by End-User • Utilities • Industrial • Railways • Others
by  Technology • Electromechanical & Static Relay • Digital & Numerical Relay
by Application • Transmission line • Busbar • Transformer • Feeder • Generator • Motor • Others

Global Protective Relay Market, by Region

• North America • Europe • Asia Pacific • South America • Middle East and Africa

Global Protective Relay Market Key Players

ABB Ltd. • Basler Electric • Siemens AG • NR Electric Co. Ltd. • Eaton Corporation • Schweitzer Engineering Laboratories • Alstom S.A. • General Electric • Mitsubishi Electric Corporation • Schneider Electric SA • Toshiba Corporation • Fanox Electronics • Littelfuse Inc. • Woodward, Inc. • LARSEN & TOUBRO LIMITED • Rockwell Automation, Inc. Frequently Asked Questions: 1] What segments are covered in Global Protective Relay Market report? Ans. The segments covered in Global Protective Relay Market report are based on Voltage, End-User, Technology, and Application. 2] Which region is expected to hold the highest share in the Global Protective Relay Market? Ans. Asia Pacific is expected to hold the highest share in the Global Protective Relay Market. 3] Who are the top key players in the Global Protective Relay Market? Ans. ABB Ltd., Basler Electric, Siemens AG, NR Electric Co. Ltd., and Eaton Corporation are the top key players in the Global Protective Relay Market. 4] Which segment holds the largest market share in the Global Protective Relay market by 2027? Ans. Utilities end-user segment hold the largest market share in the Global Protective Relay market by 2027. 5] What is the market size of the Global Protective Relay market by 2027? Ans. The market size of the Global Protective Relay market is US $2.99 Bn. by 2027. 6] What was the market size of the Global Protective Relay market in 2020? Ans. The market size of the Global Protective Relay market was worth US $2.0 Bn. in 2020.
1. Global Protective Relay Market: Research Methodology 2. Global Protective Relay Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Protective Relay Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Protective Relay Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Global Protective Relay Market Segmentation 4.1 Global Protective Relay Market, by Voltage (2020-2027) • Low • Medium • High 4.2 Global Protective Relay Market, by End-User (2020-2027) • Utilities • Industrial • Railways • Others 4.3 Global Protective Relay Market, by Technology (2020-2027) • Electromechanical & Static Relay • Digital & Numerical Relay 4.4 Global Protective Relay Market, by Application (2020-2027) • Transmission line • Busbar • Transformer • Feeder • Generator • Motor • Others 5. North America Protective Relay Market (2020-2027) 5.1 Global Protective Relay Market, by Voltage (2020-2027) • Low • Medium • High 5.2 Global Protective Relay Market, by End-User (2020-2027) • Utilities • Industrial • Railways • Others 5.3 Global Protective Relay Market, by Technology (2020-2027) • Electromechanical & Static Relay • Digital & Numerical Relay 5.4 Global Protective Relay Market, by Application (2020-2027) • Transmission line • Busbar • Transformer • Feeder • Generator • Motor • Others 5.5 North America Protective Relay Market, by Country (2020-2027) • United States • Canada • Mexico 6. Asia Pacific Protective Relay Market (2020-2027) 6.1. Asia Pacific Protective Relay Market, by Voltage (2020-2027) 6.2. Asia Pacific Protective Relay Market, by End-User (2020-2027) 6.3. Asia Pacific Protective Relay Market, by Technology (2020-2027) 6.4. Asia Pacific Protective Relay Market, by Application (2020-2027) 6.5. Asia Pacific Protective Relay Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. Middle East and Africa Protective Relay Market (2020-2027) 7.1 Middle East and Africa Protective Relay Market, by Voltage (2020-2027) 7.2. Middle East and Africa Protective Relay Market, by End-User (2020-2027) 7.3. Middle East and Africa Protective Relay Market, by Technology (2020-2027) 7.4. Middle East and Africa Protective Relay Market, by Application (2020-2027) 7.5. Middle East and Africa Protective Relay Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. Latin America Protective Relay Market (2020-2027) 8.1. Latin America Protective Relay Market, by Voltage (2020-2027) 8.2. Latin America Protective Relay Market, by End-User (2020-2027) 8.3. Latin America Protective Relay Market, by Technology (2020-2027) 8.4. Latin America Protective Relay Market, by Application (2020-2027) 8.5. Latin America Protective Relay Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 9. European Protective Relay Market (2020-2027) 9.1. European Protective Relay Market, by Voltage (2020-2027) 9.2. European Protective Relay Market, by End-User (2020-2027) 9.3. European Protective Relay Market, by Technology (2020-2027) 9.4. European Protective Relay Market, by Application (2020-2027) 9.5. European Protective Relay Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 10. Company Profile: Key players 10.1. ABB Ltd. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Basler Electric 10.3. Siemens AG 10.4. NR Electric Co. Ltd. 10.5. Eaton Corporation 10.6. Schweitzer Engineering Laboratories 10.7. Alstom S.A. 10.8. General Electric 10.9. Mitsubishi Electric Corporation 10.10. Schneider Electric SA 10.11. Toshiba Corporation 10.12. Fanox Electronics 10.13. Littelfuse Inc. 10.14. Woodward, Inc. 10.15. LARSEN & TOUBRO LIMITED 10.16. Rockwell Automation, Inc.

About This Report

Report ID 36170
Category Electronics
Published Date Nov 2019
Updated Date Nov 2021
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