Protective Relay Market – Industry Challenges, Key Vendors, Drivers, Trends and Forecast to 2027
Market Synopsis of Protective Relays
The Protective Relay Market is expected to register a CAGR of around 6% during the forecast period. Ongoing Substation Automation projects are expected to induce growth in the Protective Relay market. The growing need of Electric Power in developed as well as developing nations will result in an imminent growth in the Protective relay market.
Some of the key players in the Protective Relay Market are
- General Electric (U.S.),
- Littelfuse Inc.(U.S.),
- Eaton Corporation Plc (U.S.),
- Beckwith Electric Co. Inc.(Ireland),
- ZIV Inc. (U.S.),
- Schweitzer Engineering Laboratories (U.S.),
- Schneider Electric (France),
- Alstom Group (France),
- NR Electric (China),
- Cooper Industries (Ireland),
- ERL Phase Power Technologies Ltd. (Canada)
- Mitsubishi Electric Corporation (Japan).
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The Protective Relay Market can be categorized on the basis of Voltage as: High, Medium and Low. On the basis of Protection Mechanism it can be categorized as: Feeder, Transmission Line, Motor, Transformer, Generator, and Busbar. On the basis of End User it can be segmented as: Marine, Renewable, Utilities. On the basis of regions it can be segmented as North America, South America, Europe, Asia-Pacific, Middle East and Africa
Regional Analysis of Protective Relays
The growing transmission & distribution network across the globe, is one of the main reasons which is expected to contribute toward the growth of the Protective Relay Market. Asia-Pacific is currently housing the maximum number of transmission and distribution projects as a result of which it is one of the leading markets in this segment. Europe and North America are other regions which are expected to be highly lucrative for the players in the Protective Relay Market.
Study Objectives of Protective Relays Market
- To provide detailed analysis of the market structure along with forecast for the next 10 years of the various segments and sub-segments of the global Protective Relay market
- To provide insights about factors affecting the market growth
- To Analyze the Protective Relay market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, South America, Middle East & Africa
- To provide country level analysis of the market with respect to the current market size and future prospective
- To provide country level analysis of the market for segment by Type, End–Users, Voltage Range and Regions
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, and new product developments in the global Protective Relay market
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At Market Research Future (Mrfr), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (Crr), Half-Cooked Research Reports (Hcrr), Market Research & Consulting Services.