Protective Relay Market To Grow at a CAGR of 6.5% to 2021 Led by Feeder Protection Relays
Protective Relay Market by Voltage (High, Medium, and Low), by End-User (Utilities, Industries, Renewables, and Marine), and by Protection Mechanism (Feeder, Transmission Line, Motor, Transformer, Generator, Breaker, Capacitor Bank, and Busbar) – Global Trends and Forecasts to 2021
Pune, India – February 29, 2016 /MarketersMedia/ —
The protective relay market is projected to reach USD 4.54 billion by 2021, growing at a CAGR of 6.5% during the forecast period. The increasing investments in transmission & distribution infrastructure—including substations—and transmission & distribution lines, coupled with the increasing urbanization in developing nations, have propelled the growth of the protective relay market. Substations in developed nations are being modernized to ensure uninterrupted power supply with minimum loss. This is achieved by replacing the traditional electromagnetic and static relays with advanced numeric and digital relays. These relays also retain the data, which allows utilities or other users to track power outages caused by faults.
Complete report on Protective Relay Market spread across 179 pages, profiling 10 companies and supported with 50 tables and 57 figures is now available at http://www.rnrmarketresearch.com/protective-relay-market-by-type-high-medium-and-low-voltage-by-application-utilities-industries-and-by-product-category-feeder-protection-transmission-line-distance-motor-protection-trans-market-report.html .
Furthermore, investments in smart grid technologies are increasing, especially in developed countries. Protective relays arean integral part of the power system, and are therefore being continuously improved to increase protection levels.
Feeder protection relays occupied the largest share of the protective relay market in 2015.Feeders are the current loading points of the transmission of distribution lines. They are present in the transmission network, distribution network, switchyards, and substations. The protection of feeders is essential to ensure uninterrupted power supply and to protect the lines along with the feeders.
Asia-Pacific is the largest market for protective relays. China and India are the major driving force behind the growth of the Asia-Pacific market. Countries such as Australia and Japan are also witnessing considerable growth. China held the largest share of the global protective relay market in 2015. The BRICS economies are expected to be major markets for protective relay manufacturers.
In-depth interviews have been conducted with various primary respondents, including key industry participants, subject matter experts, C-level executives of major market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.
• By Company Type: Tier1- 35%, Tier2-45%, and Tier 3-20%
• By Designation: C-Level-35%, D-Level-25%, and Others*-40%
• By Region: North America-45%, Europe-30%, Asia-Pacific-20%, and RoW-5%
Companies such as ABB Ltd, GE Co., Schneider Electric SA, Sel, Inc., Littelfuse, Inc., Mitsubishi Electric Corp., NR Electric Co. Ltd, Siemens AG, Fanox, Eaton are profiled in this report on Protective Relay Market. Get a discounted copy of this report at http://www.rnrmarketresearch.com/contacts/discount?rname=231277 .
The report identifies and addresses key markets for protective relays, which will help suppliers and OEMs to review production and distribution plans. The report includes an analysis of key countries, by protective relay voltage range—that is, high, medium, and low. It analyzes historical trends and also provides a forecast for 2021, which would assist in strategic decision-making.
It also presents a competitive scenario by analyzing recent market developments such as contracts, expansions, and new product launches by global market players. It helps understand the competitive strategies used by these players.
On a related note, another research titled High Voltage Equipment Market Global Trends to 2020 says, The market is growing at a CAGR of approximately 5.4% from 2015 to 2020. The market for High Voltage Equipment in the report has been segmented by regions and further split into key countries. Companies like General Electric Company , Alstom SA , Siemens AG , ABB Ltd. , Larsen & Toubro Limited, Mitsubishi Electric Corporation, Hitachi Ltd., Crompton Greaves Ltd., Fuji Electric , Toshiba, Tebian Electric Apparatus and Bharat Heavy Electricals Limited have been profiled in this 243 pages reseaech report avilalble at http://www.rnrmarketresearch.com/high-voltage-equipment-market-by-voltage-uhvehvhvdchv-equipment-power-transformers-switchgear-switches-control-reactive-power-instrument-transformer-relay-panel-earthing-equipment-battery-set-by-region-trends-to-2020-market-report.html .
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