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.
The market for protective relays is expected to grow at a CAGR of 11.25% to reach $6.07 billion in 2020 from the current estimates of $3.2 billion. Asia Pacific and South America are the regions which are the main drivers of this market. Some of the major vendors mentioned in the report are ABB, Alstom, GE, Schweitzer Engineering Laboratories and Schneider Electric.
How this report is helpful?
1) The report gives complete market insights, the driving forces of the market, the challenges market faces, about different types of protective relays and their applications
2) A complete market breakdown has been done by different geographies to give a detailed picture of the market in that particular region
3) The report also provides market shares, trends and forecast of protective relays market by applications and actuating parameters
4) The report also gives information on major vendors of protective relay products, their existing share in the market, strategies they adopt along with the major products, financials, recent developments and profile of these vendors.
Who should be interested in this report?
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 industry