In 2012, globally, the medium and high voltage protective relay market earned more than $2 billion.
North America uses protective relays in various projects, not only in the power sector but in other sectors too like infrastructure that has projects such as rural electrification, electrification of road and rail network etc. This region had industrialization much earlier compared to the developing countries. So the power sector is home to a lot of aged infrastructure. This region will look towards changing their protective relays and thus the demand for protective relay will increase in the region.
With the advent of smart grid network across this region, the demand for smart protective relays will also increase.
North America 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 North America are upgrading their transmission and distribution systems. With the increase in the new transmission and distribution systems, the demand for protective relay will also increase.
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 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.
Who should be interested in this report?What the Report Offers
1) Market Definition for the Protective Relay market along with identification of key drivers and restraints for the market.
2) Market analysis for the Protective Relay market, with region specific assessments and competition analysis on a global and regional scale.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4) Extensively researched competitive landscape section with profiles of major companies along with their share of markets.
5) Identification and analysis of the Macro and Micro factors that affect the Protective Relay market on both global and regional scale.
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
1) Vendors who are into manufacturing of these products, as they can get an overview of what competitors are doing and also which markets they can look forward to expand their operations
2) Enterprises using this technology for usage in different products and services they provide
3) Investors who are willing to invest in this market
4) Consultants who can get readymade analysis to guide their clients
5) Anyone who wants to know about this industr