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Protective Relay Market worth $2.7 Billion by 2025

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Protective Relay Market worth $2.7 Billion by 2025

May 05
23:32 2020
The global protective relay market is projected to reach USD 2.7 billion by 2025 from an estimated market size of USD 2.0 billion in 2020, at a CAGR of 5.7% during 2020 – 2025.

According to the new market research Protective Relay Market by Voltage (High, Medium, Low), End-User (Utilities, Industrial, Railways, Others), Application (Feeder, Transmission Line, Motor, Transformer, Generator, Breaker, Capacitor Bank, Busbar), Type, and Region – Global Forecast to 2025″published by MarketsandMarkets™, the global Protective Relay Market is projected to reach USD 2.7 billion by 2025 from an estimated market size of USD 2.0 billion in 2020, at a CAGR of 5.7% during the forecast period. The global Protective Relay Market is set to witness significant growth owing to increased renewable capacity addition, substation automation, and replacement of older electromechanical relays with new and advanced microprocessor-based relays.

 

The digital & numeric relay segment, by technology, is expected to be the fastest market during the forecast period

 

The digital & numeric relay segment is projected to be the fastest Protective Relay Market, by technology, during the forecast period. The market is driven by new transmission line expansion and power distribution network upgrades in the region. Increased focus on substation automation, smart grid implementation, and the development of distribution & transmission infrastructure are expected to drive the market segment in Asia Pacific over the forecast period.

 

Browse in-depth TOC on “Protective Relay Market”

 

109 – Tables

43 – Figures  

165– Pages

 

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The transformer segment is expected to be the largest Protective Relay Market, by application, during the forecast period

 

The transformer segment is expected to grow at the highest rate during the forecast period due to the continuous maintenance of electricity distribution infrastructure and the expansion and upgrading of the power grid and to accommodate fluctuating renewable energy in Asia Pacific, North America, and Europe.

 

Asia Pacific is expected to dominate the global Protective Relay Market during the forecast period.

 

The growth of a Protective Relay Market in Asia Pacific can be attributed to the increasing renewable energy capacity addition in countries such as China, India, South Korea, and Australia. Additionally, the market is driven by the expansion of distribution and transmission infrastructure, the modernization of existing infrastructure through substation automation, and the replacement of electromechanical relays with numeric ones in Asia Pacific.

 

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Protective Relay Market. These include ABB (Switzerland), GE (US), Schneider Electric (France), Siemens (Germany), and SEL (US). The leading players are trying to establish themselves in the markets of developed countries and are adopting various strategies to increase their respective market shares.

 

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

 

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

 

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

 

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