Protective Relay Market Scenario
According to Market Research
Future (MRFR)'s analysis, the global protective
relay market has been projected to expand at a healthy CAGR of 6% during
the forecast. The report also revealed that the market is anticipated to scale
a decent valuation towards the end of 2027. The rising complexities in the
architecture of switchgear have intensified the need for protective relays for
the detection of faults and operational efficiency. Protective relays facilitate
the detection and rectification of defects such as high voltage, low voltage,
etc. Thus, the growing demand for protection against major accidents is likely
to dictate the growth trajectory of the protective relay market in the
forthcoming years.
An upsurge in energy consumption
has been witnessed in recent years. The global population explosion is expected
to further fuel demand for energy which is poised to aid the expansion of the
protective relay market. In addition, the shift towards the adoption of
renewable energy is also projected to augment the market over the next couple
of years.
The influx of investors is
prognosticated and is likely to have a positive influence on the growth of the
protective relay market in the foreseeable future. Product development and
innovation as a response to the increasing demand for reduced carbon intensity
and higher operational efficiency are presumed to drive the expansion of the
market in the forthcoming years.
Competitive Dashboard:
Some of the major players of the
protective relay market profiled in this report are Littelfuse Inc. (U.S.),
Eaton Corporation Plc (U.S.), General Electric (U.S.), Beckwith Electric Co.
Inc. (Ireland), Schweitzer Engineering Laboratories (U.S.), ZIV Inc. (U.S.),
Schneider Electric (France), Cooper Industries (Ireland), Alstom Group
(France), ERL Phase Power Technologies Ltd. (Canada), NR Electric (China), and
Mitsubishi Electric Corporation (Japan).
Industry Segmentation
By voltage, the global protective
relay market has been segmented into high, medium and low.
By protection mechanism, the
protective relay market has been segmented into feeder, transmission line,
motor, transformer, generator, and busbar.
By end-user, the global protective
relay market has been segmented into marine, renewable, and utilities.
Regional Analysis
By region, the global protective
relay markethas been segmented into North America, South America, Europe,
Asia-Pacific, Middle East, and Africa. Asia Pacific houses the world's most
populous nations with accelerating economic growth rate. The growing number of
energy distribution projects being undertaken in these country-level markets
are expected to dictate the growth trajectory of the protective relay market in
the region. Furthermore, the region is shifting towards renewable sources of
energy. It is further expected to augment the regional market. North America
and Europe are two important growth pockets. These regional markets are
anticipated to remain highly lucrative through the forecast period.
Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The
Study
4 Market Insights
Continue….
No comments:
Post a Comment