Protection Relay Market

Protection Relay Market Overview

The report is titled as ‘Protection Relay Market: Opportunity Analysis and Future Assessment 2022-2030’. An overview of conceptual frameworks, analytical approaches of the Protection Relay market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market. Protection Relay market is expected to grow with significant rate in the near future.

In 2020, global protection relay market was valued at US$ XXX Mn and expected to grow significantly at a CAGR of XXX % over the forecast period

Protection Relay Introduction

Protective relay alludes to a mechanized or electronic system that is ensconced in electrical circuits to mitigate the failures in generators, motors, and transformers. It accommodates inputs by way of voltage, current, temperature, and resistance, contrasts them to set points, and offers the outputs by way of indicator lights, alarms or control warnings. In addition, it also holds the role of a fault sensing device that provides the lilting command to the circuit breaker, in this way playing down the damage induced to the other devices or equipment in the circuit.

In contrast to the conventionally employed protective relays, the contemporary versions are microprocessor-based digital devices that are more effective and cost-efficient. For instance, if a facility is continuously readjusting or resetting circuit breakers, substituting fuses, or fixing equipment and cannot track down the issue, they are likely to be encountering overcurrent’s. If this is the case, the user can set up a protection relay that possesses an overcurrent feature. The relay calculates the current (input) and enables the user to schedule limits (settings) into the relay. One of the primary factor that is majorly driving the growth of the market is the swift industrialization, together with the rise in demand for renewable energy sources from the power sector, which is projected to boost the demand of protective relays in the following years.

Protection Relay Market Segmentation

The global protection relay market is segmented on the basis of type, voltage ranges, protection mechanism, industry vertical, application, end users, and region.

By Type

Electromagnetics Relays

Solid- State Relays

Microprocessor Relays

By Voltage Ranges

High Voltage

Medium Voltage

Low Voltage

By Protection Mechanism

Feeder Protection

Motor Protection

Transmission Line

Generator Protection

Busbar Protection

Capacitor Bank

Breaker

By Industries Vertical

Utilities

Industrial

Commercial and Institutional

Renewable

Marine

Oil and Gas

Food and Beverages

Automotive

Others

By Application

Line Protection

Generator Protection

Transformer Protection

Others

By End Users

Network Operators

Electricity Suppliers

Industrial Enterprises

By Region

North America

Latin America

Europe

Asia Pacific

Middle East

 Africa

Protection Relay Market Key Players

Some of the key participating players in global protection relay market are:

Basler Electric Company

Littelfuse, Inc.

Toshiba Energy Systems & Solutions Corporation

Woodward, Inc.

LARSEN & TOUBRO LIMITED

Eaton

Siemens

Schneider Electric

ABB

General Electric Company

Rockwell Automation, Inc.

SOLCON

TERASAKI ELECTRIC CO.,LTD

ZIV

ERLPhase Power Technologies Ltd.

Schweitzer Engineering Laboratories, Inc.

Mitsubishi Electric Corporation

NR Electric Co., Ltd.

Hitachi Energy Ltd.

SEG ELECTRONICS GMBH

WEG

Fuji Electric Co., Ltd.

TE Connectivity

Factors that are benchmarked while estimating the market

Various factors that are benchmarked while estimating the market growth includes (but not restricted to):

New product designs and launches

Current product compliance

Reimbursement

Concerns for use of Protection Relay

Advantages of Protection Relay

Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to take informed decision.

A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s product sales, previous growth rates and market expansion plans are considered to generate market share in the market.