In 2012, globally, the medium and high voltage protective relay market earned more than $2 billion.
Europe is increasing its production of energy from renewable sources like solar, wind, geothermal, ocean and hydro. To connect these renewable power sources to the main grid, countries in Europe are upgrading their transmission and distribution systems. With the increase in the new transmission and distribution systems, the demand for protective relays will also increase.
Many countries in this region also have age old systems which need a lot of upgradation. This upgradation of plants will help the demand for protective relays.
Protective relay is a device which is designed to trip a circuit breaker when an electric fault is detected. It triggers an alarm if any abnormality is found within the electrical circuit. These protective relays can be differentiated on a number of factors such as actuating parameter or based on applications. The main products which are in use in current market are high-voltage relays and medium-voltage relays. The demand for protective relays is growing across the world with increase in electricity consumption and more focus of governments towards infrastructure investments. The other factor which is driving this market is renewable energy. Investments towards renewable energy projects are also contributing to the growth of this market.
Some of the major vendors mentioned in the report are ABB, Alstom, GE, Schweitzer Engineering Laboratories and Schneider Electric.
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