Protective Relays Market: Emerging Players with Size and Share, Regional Trends and Strategies Forecast 2021-2024

Protective Relays

The “Protective Relays Market” Report provides a thorough examination of the market. The Protective Relays Market research investigates how firms in the Protective Relays Market are reacting to changing market conditions by examining major industry strategies. The report covers current top players are recognised and rated based on their market shares. It also includes data on leading manufacturers, market segmentation by types, applications, and geographic regions. Market capacity, production, consumption, sales, and revenue are all discussed in this Protective Relays market report.

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Competitor Analysis:

Protective Relays market covers the vision of competitor analysis by product types, market share, applications, sales and revenue. It covers the top key players like –

  • ABB Group
  • Alstom SA
  • Schneider Electric SE
  • Schweitzer Engineering Laboratories
  • Woodward Inc.
  • Eaton Corporation
  • Toshiba Corporation
  • Bender GmbH & Co. KG
  • Siemens AG
  • Littelfuse Inc.
  • NR Electric Co. Ltd

    Market Overview:

  • The protective relays market was valued at USD 3.52 billion in 2018 and is expected to reach a value of USD 4.70 billion by 2024, at an estimated CAGR of 5.98% over the forecast period 2019 – 2024. A protective relay is designed to trip a circuit breaker, whenever there is an electric fault identified. They assist in disconnecting the identified faulty portion from the rest of the circuit.
  • – With the increasing investments in infrastructure projects across different regions worldwide, there is growth in energy consumption coupled with the rising popularity of smart grid technologies for energy management. Therefore to mitigate the risk of damage due to system failure, relays are often used in parallel systems.
  • – Further, due to the increasing environmental concerns regarding the extinction of conventional sources of energy the growth of the renewable energy sector is set to draw new infrastructural investments that will spur the demand for protective relays.
  • – However, the high installation cost and expenditure incurred on their maintenance are creating bottlenecks for the market during the forecast period.

    Key Market Trends:

    Renewable Energy is expected to Increase the Demand the Use of Protective Relays

    – Renewable energy (RE) has been chosen as an alternative power source because it is eco-friendly, eco-green and mainly due to its sustainable nature. One form of renewable energy is solar energy which has a massive potential to contribute to energy security and meet some of the worlds electricity demands.
    – The growing demand for solar electricity, coupled with the increased establishment and revamping of the smart grid, is the main factor fueling the demand for protective relays in this application segment. Protective Relaying Devices (PRD) are used at different functional levels and different applications within a smart grid which can automatically avoid or mitigate power outages, power quality problems, and service disruptions. They are designed such that failure of one part of the network will result in no loss of supply to end users.
    – Additionally, with the growing demand for electrical equipment among the end user, there is a growth in the number of distribution networks and transmission lines. This is set to increase the number of substations in the near future, which in turn will boost the market for protective relays.

    Asia-Pacific to Witness the Fastest Growth

    – The Asia-Pacific region is being dominated by two highly populated country i.e. India and China. Rising population in countries like China, Japan, and India has stimulated the demand for residential infrastructure and electricity consumption, therefore accelerating the demand for electricity in the nations mentioned above is the crucial attribute backing the demand for the protective relay market.
    – Moreover, according to NITI Aayog, India is home to 18% of the worlds population but uses only 6% of the worlds primary energy. Indias energy consumption has almost doubled since 2000 and the potential for further rapid growth is enormous. Urbanization will be a key diver of this trend which in result will create a positive outlook for protective relays market.
    – Further, Japan is hosting Summer Olympics 2020 which will ensue in infrastructural development, which is anticipated to propel the growth of protective relay market during the forecasted period
    – Therefore, all the above factors combined will fuel the protective relays market in the Asia-Pacific region during the forecasted period.

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    Scope of the Report:

    Electricity is one of the most widely used forms of energy, which is vital for any economy. About 80% of the people in the world have access to electricity and the rate is increasing due to growth in urbanization. Residential and commercial sectors hold the largest share of the overall electricity consumption. Therefore the supply of electricity is increasing and along with that the growth of the distribution feeder protection system, and hence, the fueling the protective relays market. Installing protective relays can help eliminate the risk of damage.

    Highlighted points of Protective Relays Market Report:

    • Varying dynamics of the Protective Relays industry.
    • Prospective changes in sales volumes and worldwide share growth in upcoming years
    • Protective Relays market report recognizes the key drivers of growth and challenges of the key industry players.
    • Competitors profiles along with product description, overview, and business data.
    • Complete analysis of market risks, opportunities, limitations, and growth of the market.
    • Market driving and restraining factors.
    • Delivers information on the historical and current market size and the future potential of the market.
    • Protective Relays market report provides comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of market.

    Key Benefits of this Protective Relays Market report:

    • The Protective Relays market report provides a comprehensive analysis of the current trends and future estimations in the world mining equipment market to identify the potential investment pockets.
    • The Protective Relays market report presents information regarding key drivers, restraints, and opportunities with a detailed impact analysis.
    • Quantitative analysis of the current trends and forecasts to 2024 is provided to showcase the financial competency of the Protective Relays market.
    • Porter’s Five Force model of the industry and SWOT analysis illustrate the potency of the buyers & suppliers.
    • Value chain analysis provides a clear understanding of the roles of stakeholders involved.

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    Detailed TOC of Protective Relays Market Report:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Growth in Electricity Consumption
    4.3.2 Increasing Use of Renewable Energy Sources
    4.4 Market Restraints
    4.4.1 Higher Installation Costs
    4.5 Industry Value Chain Analysis
    4.6 Industry Attractiveness – Porter’s Five Force Analysis
    4.6.1 Threat of New Entrants
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Bargaining Power of Suppliers
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry

    5 TECHNOLOGY SNAPSHOT

    6 MARKET SEGMENTATION
    6.1 By Voltage Range
    6.1.1 Low-Voltage Protective Relay
    6.1.2 Medium-Voltage Protective Relay
    6.1.3 High-Voltage Protective Relay
    6.2 By Application
    6.2.1 Feeder Protection
    6.2.2 Transmission Line Protection
    6.2.3 Transformer Protection
    6.2.4 Motor Protection
    6.2.5 Other Applications
    6.3 By End-user Industry
    6.3.1 Utilities
    6.3.2 Industries
    6.3.3 Other End-user Industries
    6.4 Geography
    6.4.1 North America
    6.4.1.1 United States
    6.4.1.2 Canada
    6.4.2 Europe
    6.4.2.1 United Kingdom
    6.4.2.2 Germany
    6.4.2.3 France
    6.4.2.4 Rest of Europe
    6.4.3 Asia-Pacific
    6.4.3.1 China
    6.4.3.2 Japan
    6.4.3.3 India
    6.4.3.4 Rest of Asia-Pacific
    6.4.4 Latin America
    6.4.4.1 Brazil
    6.4.4.2 Argentina
    6.4.4.3 Mexico
    6.4.4.4 Rest of Latin America
    6.4.5 Middle East & Africa
    6.4.5.1 UAE
    6.4.5.2 Saudi Arabia
    6.4.5.3 South Africa
    6.4.5.4 Rest of Middle East & Africa

    7 COMPETITIVE LANDSCAPE
    7.1 Company Profiles
    7.1.1 ABB Group
    7.1.2 Alstom SA
    7.1.3 Schneider Electric SE
    7.1.4 Schweitzer Engineering Laboratories
    7.1.5 Woodward Inc.
    7.1.6 Eaton Corporation
    7.1.7 Toshiba Corporation
    7.1.8 Bender GmbH & Co. KG
    7.1.9 Siemens AG
    7.1.10 Littelfuse Inc.
    7.1.11 NR Electric Co. Ltd

    8 INVESTMENT ANALYSIS

    9 MARKET OPPORTUNITIES AND FUTURE TRENDS

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