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Protective Relay Market Overview:
According to the National Fire Protection Association, around 47% of electricity accidental deaths occurred in construction and extraction work and 22% of the deaths during installation, maintenance, and repair jobs were reported within the period of 2012-2016. This implicates the necessity of protective power circuit system such as protective relay in industrial sectors, offices, and for domestic applications which reduces the chance of electric exposure caused due to over-current, over-voltage, under-frequency, and other electricity failures. The global protective relay market generated opportunities worth $3320.57m in 2018, due to wide applications of protective relay in feeders, motors, generators, transformers, bus bars, and many more. Protective relay aids circuit breakers and alarm systems to work coherently for minimizing system damage which significantly eliminates the risk of electric hazards at any work location. Consequently, they form a reliable power system protection source, thereby gaining huge end-user demand. Europe is projected as the major shareholder in the global protective relay market with 32.2% of global market share in 2018. The urge in demand for the protective relay is influenced by colossal investment in smart grid technology and huge electricity supply in Europe. According to the Eurelectric, 200 million smart meters will be equipped in Europe, which accounts for 80% of the total residents by 2020.[2] Also, Europe is opting for clean energy transition on a large scale which is likely to facilitate the overall demand for effective protective relay market.
Infrastructural advancement and rising global electricity demand induces requirement for efficient distribution channels and transmission lines of electric supply across a network. This elevates the protective relay demand, hence market is evaluated to grow at a CAGR of 3.3% through to 2025. Among other application segments, generators are projected to acquiring huge demand for protective relay which will increase at a CAGR of 4.6% during the forecast period 2019-2025.
Protective Relay Market Growth Drivers:
· Growing industrialization and increasing global population are boosting the demand of electricity. Additionally, shifting trend towards reliable renewable energy sector is also expected to uplift the global protective relay market considerably over the due course of time owing to their utilization in power generation processes.
· Increasing power substation construction to supply electricity for domestic and commercial usage require protective relays to trigger alarm switches and circuit breakers during voltage fluctuation and uneven electricity flow. Eventually, this avoids critical situations owing to which protective relay market is experiencing high demand from office and household electrical setup.
Protective Relay Market Companies:
Companies such as ABB Corp., Schneider, Woodward, General Electric, Eaton, Siemens, Little Fuse, Schweitzer Engineering Laboratories, Toshiba, and others are expanding geographically with innovation and investment aid the construction of brand image in the global market.
Schneider is a multinational electrical equipment and solution provider which offers services such as home automation, protection, monitoring and controlling facility, switches and sockets, energy storage and grid system, and others. Protective relay products such as Sepam serie 20, Easergy P3, MiCOM P63x, Vamp 200 Series, and so on are provided by company for overcurrent, motor, transformer, capacitors, generators, and others.
Protective Relay Market Trends:
· Surge in Renewable Energy Demand
According to the data from International Energy Agency, around 178 GW was added to the global renewable electricity capacity in 2017, which accounted for two-third of the total electricity capacity in the world. This marks as an extensive demand for electricity which is supplied through power substations in every state, relying heavily on relays for smooth, uniform, and risk-free electric supply across every distribution channel. Due to huge inclination towards clean energy usage, renewable energy production trends will uplift the demand of protective relay.
Massive investment in building renewable energy power plants across the world is leveraging huge economic income globally. Forthcoming and ongoing construction such as 11.6 MW solar power plant by Unisun Energy Group in Hungary (China), Innergex’s 315 MW solar plant in Texas (U.S.), Google’s solar power project in Taiwan, 5 GW solar park in Gujarat, and 3 GW solar PV plant in Rajasthan will be a breakthrough scope for promoting the protective relay market opportunities.
Protective Relay Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Protective Relay market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of Protective Relay in Protective Relay market, and their specific applications in different areas.
Protective Relay Market: Industry Coverage
The global protective relay market is segmented into function, operation mechanism, and application. On the basis of function categorization includes overcurrent relay, distance relay, and others. By operation mechanism, this market is divided into electromechanical, static, digital/numerical, and others. Application classification includes feeders, motors, generators, others.
Table 1 Protective Relay Market Overview 2023-2030
Table 2 Protective Relay Market Leader Analysis 2023-2030 (US$)
Table 3 Protective Relay MarketProduct Analysis 2023-2030 (US$)
Table 4 Protective Relay MarketEnd User Analysis 2023-2030 (US$)
Table 5 Protective Relay MarketPatent Analysis 2013-2023* (US$)
Table 6 Protective Relay MarketFinancial Analysis 2023-2030 (US$)
Table 7 Protective Relay Market Driver Analysis 2023-2030 (US$)
Table 8 Protective Relay MarketChallenges Analysis 2023-2030 (US$)
Table 9 Protective Relay MarketConstraint Analysis 2023-2030 (US$)
Table 10 Protective Relay Market Supplier Bargaining Power Analysis 2023-2030 (US$)
Table 11 Protective Relay Market Buyer Bargaining Power Analysis 2023-2030 (US$)
Table 12 Protective Relay Market Threat of Substitutes Analysis 2023-2030 (US$)
Table 13 Protective Relay Market Threat of New Entrants Analysis 2023-2030 (US$)
Table 14 Protective Relay Market Degree of Competition Analysis 2023-2030 (US$)
Table 15 Protective Relay MarketValue Chain Analysis 2023-2030 (US$)
Table 16 Protective Relay MarketPricing Analysis 2023-2030 (US$)
Table 17 Protective Relay MarketOpportunities Analysis 2023-2030 (US$)
Table 18 Protective Relay MarketProduct Life Cycle Analysis 2023-2030 (US$)
Table 19 Protective Relay MarketSupplier Analysis 2023-2030 (US$)
Table 20 Protective Relay MarketDistributor Analysis 2023-2030 (US$)
Table 21 Protective Relay Market Trend Analysis 2023-2030 (US$)
Table 22 Protective Relay Market Size 2023 (US$)
Table 23 Protective Relay Market Forecast Analysis 2023-2030 (US$)
Table 24 Protective Relay Market Sales Forecast Analysis 2023-2030 (Units)
Table 25 Protective Relay Market, Revenue & Volume,By Operation Mechanism, 2023-2030 ($)
Table 26 Protective Relay MarketBy Operation Mechanism, Revenue & Volume,By Generator, 2023-2030 ($)
Table 27 Protective Relay MarketBy Operation Mechanism, Revenue & Volume,By Transformers, 2023-2030 ($)
Table 28 Protective Relay MarketBy Operation Mechanism, Revenue & Volume,By Transmission Lines, 2023-2030 ($)
Table 29 Protective Relay MarketBy Operation Mechanism, Revenue & Volume,By Circuit Breakers, 2023-2030 ($)
Table 30 Protective Relay MarketBy Operation Mechanism, Revenue & Volume,By Feeders, 2023-2030 ($)
Table 31 Protective Relay Market, Revenue & Volume,By Application, 2023-2030 ($)
Table 32 Protective Relay MarketBy Application, Revenue & Volume,By Introduction , 2023-2030 ($)
Table 33 Protective Relay MarketBy Application, Revenue & Volume,By Feeder Protection, 2023-2030 ($)
Table 34 Protective Relay MarketBy Application, Revenue & Volume,By Motor Protection, 2023-2030 ($)
Table 35 Protective Relay MarketBy Application, Revenue & Volume,By Transformer Protection, 2023-2030 ($)
Table 36 Protective Relay MarketBy Application, Revenue & Volume,By Generator Protection, 2023-2030 ($)
Table 37 North America Protective Relay Market, Revenue & Volume,By Operation Mechanism, 2023-2030 ($)
Table 38 North America Protective Relay Market, Revenue & Volume,By Application, 2023-2030 ($)
Table 39 South america Protective Relay Market, Revenue & Volume,By Operation Mechanism, 2023-2030 ($)
Table 40 South america Protective Relay Market, Revenue & Volume,By Application, 2023-2030 ($)
Table 41 Europe Protective Relay Market, Revenue & Volume,By Operation Mechanism, 2023-2030 ($)
Table 42 Europe Protective Relay Market, Revenue & Volume,By Application, 2023-2030 ($)
Table 43 APAC Protective Relay Market, Revenue & Volume,By Operation Mechanism, 2023-2030 ($)
Table 44 APAC Protective Relay Market, Revenue & Volume,By Application, 2023-2030 ($)
Table 45 Middle East & Africa Protective Relay Market, Revenue & Volume,By Operation Mechanism, 2023-2030 ($)
Table 46 Middle East & Africa Protective Relay Market, Revenue & Volume,By Application, 2023-2030 ($)
Table 47 Russia Protective Relay Market, Revenue & Volume,By Operation Mechanism, 2023-2030 ($)
Table 48 Russia Protective Relay Market, Revenue & Volume,By Application, 2023-2030 ($)
Table 49 Israel Protective Relay Market, Revenue & Volume,By Operation Mechanism, 2023-2030 ($)
Table 50 Israel Protective Relay Market, Revenue & Volume,By Application, 2023-2030 ($)
Table 51 Top Companies 2023 (US$)Protective Relay Market, Revenue & Volume,,
Table 52 Product Launch 2023-2030Protective Relay Market, Revenue & Volume,,
Table 53 Mergers & Acquistions 2023-2030Protective Relay Market, Revenue & Volume,,
List of Figures
Figure 1 Overview of Protective Relay Market 2023-2030
Figure 2 Market Share Analysis for Protective Relay Market 2023 (US$)
Figure 3 Product Comparison in Protective Relay Market 2023-2030 (US$)
Figure 4 End User Profile for Protective Relay Market 2023-2030 (US$)
Figure 5 Patent Application and Grant in Protective Relay Market 2013-2023* (US$)
Figure 6 Top 5 Companies Financial Analysis in Protective Relay Market 2023-2030 (US$)
Figure 7 Market Entry Strategy in Protective Relay Market 2023-2030
Figure 8 Ecosystem Analysis in Protective Relay Market2023
Figure 9 Average Selling Price in Protective Relay Market 2023-2030
Figure 10 Top Opportunites in Protective Relay Market 2023-2030
Figure 11 Market Life Cycle Analysis in Protective Relay Market
Figure 12 GlobalBy Operation MechanismProtective Relay Market Revenue, 2023-2030 ($)
Figure 13 GlobalBy ApplicationProtective Relay Market Revenue, 2023-2030 ($)
Figure 14 Global Protective Relay Market - By Geography
Figure 15 Global Protective Relay Market Value & Volume, By Geography, 2023-2030 ($)
Figure 16 Global Protective Relay Market CAGR, By Geography, 2023-2030 (%)
Figure 17 North America Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 18 US Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 19 US GDP and Population, 2023-2030 ($)
Figure 20 US GDP – Composition of 2023, By Sector of Origin
Figure 21 US Export and Import Value & Volume, 2023-2030 ($)
Figure 22 Canada Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 23 Canada GDP and Population, 2023-2030 ($)
Figure 24 Canada GDP – Composition of 2023, By Sector of Origin
Figure 25 Canada Export and Import Value & Volume, 2023-2030 ($)
Figure 26 Mexico Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 27 Mexico GDP and Population, 2023-2030 ($)
Figure 28 Mexico GDP – Composition of 2023, By Sector of Origin
Figure 29 Mexico Export and Import Value & Volume, 2023-2030 ($)
Figure 30 South America Protective Relay MarketSouth America 3D Printing Market Value & Volume, 2023-2030 ($)
Figure 31 Brazil Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 32 Brazil GDP and Population, 2023-2030 ($)
Figure 33 Brazil GDP – Composition of 2023, By Sector of Origin
Figure 34 Brazil Export and Import Value & Volume, 2023-2030 ($)
Figure 35 Venezuela Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 36 Venezuela GDP and Population, 2023-2030 ($)
Figure 37 Venezuela GDP – Composition of 2023, By Sector of Origin
Figure 38 Venezuela Export and Import Value & Volume, 2023-2030 ($)
Figure 39 Argentina Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 40 Argentina GDP and Population, 2023-2030 ($)
Figure 41 Argentina GDP – Composition of 2023, By Sector of Origin
Figure 42 Argentina Export and Import Value & Volume, 2023-2030 ($)
Figure 43 Ecuador Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 44 Ecuador GDP and Population, 2023-2030 ($)
Figure 45 Ecuador GDP – Composition of 2023, By Sector of Origin
Figure 46 Ecuador Export and Import Value & Volume, 2023-2030 ($)
Figure 47 Peru Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 48 Peru GDP and Population, 2023-2030 ($)
Figure 49 Peru GDP – Composition of 2023, By Sector of Origin
Figure 50 Peru Export and Import Value & Volume, 2023-2030 ($)
Figure 51 Colombia Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 52 Colombia GDP and Population, 2023-2030 ($)
Figure 53 Colombia GDP – Composition of 2023, By Sector of Origin
Figure 54 Colombia Export and Import Value & Volume, 2023-2030 ($)
Figure 55 Costa Rica Protective Relay MarketCosta Rica 3D Printing Market Value & Volume, 2023-2030 ($)
Figure 56 Costa Rica GDP and Population, 2023-2030 ($)
Figure 57 Costa Rica GDP – Composition of 2023, By Sector of Origin
Figure 58 Costa Rica Export and Import Value & Volume, 2023-2030 ($)
Figure 59 Europe Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 60 U.K Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 61 U.K GDP and Population, 2023-2030 ($)
Figure 62 U.K GDP – Composition of 2023, By Sector of Origin
Figure 63 U.K Export and Import Value & Volume, 2023-2030 ($)
Figure 64 Germany Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 65 Germany GDP and Population, 2023-2030 ($)
Figure 66 Germany GDP – Composition of 2023, By Sector of Origin
Figure 67 Germany Export and Import Value & Volume, 2023-2030 ($)
Figure 68 Italy Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 69 Italy GDP and Population, 2023-2030 ($)
Figure 70 Italy GDP – Composition of 2023, By Sector of Origin
Figure 71 Italy Export and Import Value & Volume, 2023-2030 ($)
Figure 72 France Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 73 France GDP and Population, 2023-2030 ($)
Figure 74 France GDP – Composition of 2023, By Sector of Origin
Figure 75 France Export and Import Value & Volume, 2023-2030 ($)
Figure 76 Netherlands Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 77 Netherlands GDP and Population, 2023-2030 ($)
Figure 78 Netherlands GDP – Composition of 2023, By Sector of Origin
Figure 79 Netherlands Export and Import Value & Volume, 2023-2030 ($)
Figure 80 Belgium Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 81 Belgium GDP and Population, 2023-2030 ($)
Figure 82 Belgium GDP – Composition of 2023, By Sector of Origin
Figure 83 Belgium Export and Import Value & Volume, 2023-2030 ($)
Figure 84 Spain Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 85 Spain GDP and Population, 2023-2030 ($)
Figure 86 Spain GDP – Composition of 2023, By Sector of Origin
Figure 87 Spain Export and Import Value & Volume, 2023-2030 ($)
Figure 88 Denmark Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 89 Denmark GDP and Population, 2023-2030 ($)
Figure 90 Denmark GDP – Composition of 2023, By Sector of Origin
Figure 91 Denmark Export and Import Value & Volume, 2023-2030 ($)
Figure 92 APAC Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 93 China Protective Relay MarketValue & Volume, 2023-2030
Figure 94 China GDP and Population, 2023-2030 ($)
Figure 95 China GDP – Composition of 2023, By Sector of Origin
Figure 96 China Export and Import Value & Volume, 2023-2030 ($)Protective Relay MarketChina Export and Import Value & Volume, 2023-2030 ($)
Figure 97 Australia Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 98 Australia GDP and Population, 2023-2030 ($)
Figure 99 Australia GDP – Composition of 2023, By Sector of Origin
Figure 100 Australia Export and Import Value & Volume, 2023-2030 ($)
Figure 101 South Korea Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 102 South Korea GDP and Population, 2023-2030 ($)
Figure 103 South Korea GDP – Composition of 2023, By Sector of Origin
Figure 104 South Korea Export and Import Value & Volume, 2023-2030 ($)
Figure 105 India Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 106 India GDP and Population, 2023-2030 ($)
Figure 107 India GDP – Composition of 2023, By Sector of Origin
Figure 108 India Export and Import Value & Volume, 2023-2030 ($)
Figure 109 Taiwan Protective Relay MarketTaiwan 3D Printing Market Value & Volume, 2023-2030 ($)
Figure 110 Taiwan GDP and Population, 2023-2030 ($)
Figure 111 Taiwan GDP – Composition of 2023, By Sector of Origin
Figure 112 Taiwan Export and Import Value & Volume, 2023-2030 ($)
Figure 113 Malaysia Protective Relay MarketMalaysia 3D Printing Market Value & Volume, 2023-2030 ($)
Figure 114 Malaysia GDP and Population, 2023-2030 ($)
Figure 115 Malaysia GDP – Composition of 2023, By Sector of Origin
Figure 116 Malaysia Export and Import Value & Volume, 2023-2030 ($)
Figure 117 Hong Kong Protective Relay MarketHong Kong 3D Printing Market Value & Volume, 2023-2030 ($)
Figure 118 Hong Kong GDP and Population, 2023-2030 ($)
Figure 119 Hong Kong GDP – Composition of 2023, By Sector of Origin
Figure 120 Hong Kong Export and Import Value & Volume, 2023-2030 ($)
Figure 121 Middle East & Africa Protective Relay MarketMiddle East & Africa 3D Printing Market Value & Volume, 2023-2030 ($)
Figure 122 Russia Protective Relay MarketRussia 3D Printing Market Value & Volume, 2023-2030 ($)
Figure 123 Russia GDP and Population, 2023-2030 ($)
Figure 124 Russia GDP – Composition of 2023, By Sector of Origin
Figure 125 Russia Export and Import Value & Volume, 2023-2030 ($)
Figure 126 Israel Protective Relay Market Value & Volume, 2023-2030 ($)
Figure 127 Israel GDP and Population, 2023-2030 ($)
Figure 128 Israel GDP – Composition of 2023, By Sector of Origin
Figure 129 Israel Export and Import Value & Volume, 2023-2030 ($)
Figure 130 Entropy Share, By Strategies, 2023-2030* (%)Protective Relay Market
Figure 131 Developments, 2023-2030*Protective Relay Market
Figure 132 Company 1 Protective Relay Market Net Revenue, By Years, 2023-2030* ($)
Figure 133 Company 1 Protective Relay Market Net Revenue Share, By Business segments, 2023 (%)
Figure 134 Company 1 Protective Relay Market Net Sales Share, By Geography, 2023 (%)
Figure 135 Company 2 Protective Relay Market Net Revenue, By Years, 2023-2030* ($)
Figure 136 Company 2 Protective Relay Market Net Revenue Share, By Business segments, 2023 (%)
Figure 137 Company 2 Protective Relay Market Net Sales Share, By Geography, 2023 (%)
Figure 138 Company 3Protective Relay Market Net Revenue, By Years, 2023-2030* ($)
Figure 139 Company 3Protective Relay Market Net Revenue Share, By Business segments, 2023 (%)
Figure 140 Company 3Protective Relay Market Net Sales Share, By Geography, 2023 (%)
Figure 141 Company 4 Protective Relay Market Net Revenue, By Years, 2023-2030* ($)
Figure 142 Company 4 Protective Relay Market Net Revenue Share, By Business segments, 2023 (%)
Figure 143 Company 4 Protective Relay Market Net Sales Share, By Geography, 2023 (%)
Figure 144 Company 5 Protective Relay Market Net Revenue, By Years, 2023-2030* ($)
Figure 145 Company 5 Protective Relay Market Net Revenue Share, By Business segments, 2023 (%)
Figure 146 Company 5 Protective Relay Market Net Sales Share, By Geography, 2023 (%)
Figure 147 Company 6 Protective Relay Market Net Revenue, By Years, 2023-2030* ($)
Figure 148 Company 6 Protective Relay Market Net Revenue Share, By Business segments, 2023 (%)
Figure 149 Company 6 Protective Relay Market Net Sales Share, By Geography, 2023 (%)
Figure 150 Company 7 Protective Relay Market Net Revenue, By Years, 2023-2030* ($)
Figure 151 Company 7 Protective Relay Market Net Revenue Share, By Business segments, 2023 (%)
Figure 152 Company 7 Protective Relay Market Net Sales Share, By Geography, 2023 (%)
Figure 153 Company 8 Protective Relay Market Net Revenue, By Years, 2023-2030* ($)
Figure 154 Company 8 Protective Relay Market Net Revenue Share, By Business segments, 2023 (%)
Figure 155 Company 8 Protective Relay Market Net Sales Share, By Geography, 2023 (%)
Figure 156 Company 9 Protective Relay Market Net Revenue, By Years, 2023-2030* ($)
Figure 157 Company 9 Protective Relay Market Net Revenue Share, By Business segments, 2023 (%)
Figure 158 Company 9 Protective Relay Market Net Sales Share, By Geography, 2023 (%)
Figure 159 Company 10 Protective Relay Market Net Revenue, By Years, 2023-2030* ($)
Figure 160 Company 10 Protective Relay Market Net Revenue Share, By Business segments, 2023 (%)
Figure 161 Company 10 Protective Relay Market Net Sales Share, By Geography, 2023 (%)
Figure 162 Company 11 Protective Relay Market Net Revenue, By Years, 2023-2030* ($)
Figure 163 Company 11 Protective Relay Market Net Revenue Share, By Business segments, 2023 (%)
Figure 164 Company 11 Protective Relay Market Net Sales Share, By Geography, 2023 (%)
Figure 165 Company 12 Protective Relay Market Net Revenue, By Years, 2023-2030* ($)
Figure 166 Company 12 Protective Relay Market Net Revenue Share, By Business segments, 2023 (%)
Figure 167 Company 12 Protective Relay Market Net Sales Share, By Geography, 2023 (%)
Figure 168 Company 13Protective Relay Market Net Revenue, By Years, 2023-2030* ($)
Figure 169 Company 13Protective Relay Market Net Revenue Share, By Business segments, 2023 (%)
Figure 170 Company 13Protective Relay Market Net Sales Share, By Geography, 2023 (%)
Figure 171 Company 14 Protective Relay Market Net Revenue, By Years, 2023-2030* ($)
Figure 172 Company 14 Protective Relay Market Net Revenue Share, By Business segments, 2023 (%)
Figure 173 Company 14 Protective Relay Market Net Sales Share, By Geography, 2023 (%)
Figure 174 Company 15 Protective Relay Market Net Revenue, By Years, 2023-2030* ($)
Figure 175 Company 15 Protective Relay Market Net Revenue Share, By Business segments, 2023 (%)
Figure 176 Company 15 Protective Relay Market Net Sales Share, By Geography, 2023 (%)