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Friday, 28 April 2017
New Report sheds light on the Protective Relay Market 2017 to 2022
Protective Relay Market - Forecasts from 2017 to 2022 is a new market research publication announced by Reportstack. This report is expected to expand at a CAGR of 7.28% over the forecast period to reach US$5.836 billion by 2022. A protective relay is a device that detects the fault and initiates the operation of the circuit breaker to eliminate the defective element from the rest of the system. These relays work together with control and sensing devices in order to achieve their desired function. Protective relays have application in the electric power industry. Some of the preferred potentials of protective relay circuits include adequateness, selectivity, reliability, stability, power consumption, system security, speed and time.
Growing global population leading to the ever-increasing need for electrical power is the major driver of the global protective relay market. Growing adoption of automation process across end-user industries combined with expanding transmission and distribution infrastructure globally are also projected to propel the growth of protective relay market over the next six years. Growing security issues will augment the demand for Cyber Protective Relays in the coming years. However, the high cost of installation and maintenance can obstruct the growth of protective relay market.
Asia Pacific dominated the market in the year 2015 and is expected to remain at its position throughout the forecast period owing to development and up gradation of transmission and distribution lines. Large population base in Asia Pacific leads to more power consumption in the region, resulting in increased demand for protective relays. This region is also expected to display better growth opportunities in the future, primarily because of increasing infrastructure projects in developing countries like India and China. Moreover, the booming consumer electronics industry and automotive industry in the region will bolster the growth of APAC Protective Relay market during the forecast period.
Firstly, the report provides a brief introduction of the market and deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report.
Next, the section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth and a brief technological aspect of Protective Relay Market. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
Protective relay Market has been segmented on the basis of voltage, protection mechanism, industry vertical, and geography as follows:
By Voltage Low Medium High By Protection Mechanism Motor Protection Feeder Protection Transformer protection Transmission line Others By Industry Vertical Energy and Power Infrastructure Manufacturing Others By Geography Americas North America South America Europe Middle East and Africa Europe Middle East and Africa Asia Pacific
Finally, competitive intelligence section deals with major players in the market, their growth strategies, market shares, products, financials, and recent investments among others. Key industry players profiled as part of this section are ABB, Schneider Electric, Siemens, Coto Technology, Omron, Fujitsu, General Electric, and SEL Group.