Protective Relay Market Revenue Drivers, Key Development Strategies and In-depth Research Report, 2024

 The global Protective Relay Market research report provides complete insights on industry scope, global trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready, data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development. 

Market Overview: 

In the year 2015, global protective relay market was valued at 90.1 million and is expected to grow at CAGR of more than 5% over the forecast period. Increase in number of power and infrastructure projects in the Asia-Pacific region along with increased investments in the T and D network worldwide is considered as the reason for the rise in the demand of protective relays. 

Key Players:

• ABB Group
• Doble Engineering Company
• Eaton Corporation Plc
• Fanox Electronics SL
• General Electric
• Mitsubishi Electric Corp. 

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Growth Drivers: 

Power Sector is forecasted to remain the highest and most rapidly growing end-use segment with CAGR of over 5% from 2016-2024. Improved rate of industrialization along with upgradation in the capacity to produce power globally has resulted in growth for demand of relays. Other major factors such as the increasing population and increasing per capita income due to higher development rates have raised the level of electricity consumption in the Asia-Pacific region. 

Application Outlook: 

• Feeder Protection
• Generator Protection
• Bus-Bar Protection
• Capacitor Bank Protection
• Breaker Protection
• Transformer Protection 

End-Use Outlook: 

• Infrastructure
• Industrial
• Government
• Power 

Regional Insights: 

Asia Pacific region accounted for highest market share and about 30% of the total revenue in the year 2015. Extensive investments in the modernization of infrastructure along with renewable sector are the major factors that are expected to drive the demand of protective relays over the forecast period. 

Due to the economic progress of the countries such as India and China the rate of mounting infrastructure is at all-time high. This rise in infrastructure is expected to fuel the growth of protective relay market over the forecast period. Summer Olympics that are scheduled in the Japanese land in the year 2020 is also a key factor in the rise of infrastructure consequently driving the protective relay market. 

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