Protective Relay Market Size Analysis, Segmentation, Industry Outlook, and Forecasts Report, 2024
In the year 2015, global protective relay market was valued at $2590.1 million and is expected to grow at CAGR of more than 5% over the forecast period.
(firmenpresse) - The global Protective Relay Market research report provides complete insights on industry scope, global trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready, data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
In the year 2015, global protective relay market was valued at $2590.1 million and is expected to grow at CAGR of more than 5% over the forecast period. Increase in number of power and infrastructure projects in the Asia-Pacific region along with increased investments in the T and D network worldwide is considered as the reason for the rise in the demand of protective relays.
Key Players:
ABB Group
Doble Engineering Company
Eaton Corporation Plc
Fanox Electronics SL
General Electric
Mitsubishi Electric Corp.
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Growth Drivers:
Power Sector is forecasted to remain the highest and most rapidly growing end-use segment with CAGR of over 5% from 2016-2024. Improved rate of industrialization along with upgradation in the capacity to produce power globally has resulted in growth for demand of relays. Other major factors such as the increasing population and increasing per capita income due to higher development rates have raised the level of electricity consumption in the Asia-Pacific region.
Application Outlook:
Feeder Protection
Generator Protection
Bus-Bar Protection
Capacitor Bank Protection
Breaker Protection
Transformer Protection
End-Use Outlook:
Infrastructure
Industrial
Government
Power
Regional Insights:
Asia Pacific region accounted for highest market share and about 30% of the total revenue in the year 2015. Extensive investments in the modernization of infrastructure along with renewable sector are the major factors that are expected to drive the demand of protective relays over the forecast period.
Due to the economic progress of the countries such as India and China the rate of mounting infrastructure is at all-time high. This rise in infrastructure is expected to fuel the growth of protective relay market over the forecast period. Summer Olympics that are scheduled in the Japanese land in the year 2020 is also a key factor in the rise of infrastructure consequently driving the protective relay market.
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Unternehmensinformation / Kurzprofil:
Datum: 24.09.2020 - 12:45 Uhr
Sprache: Deutsch
News-ID 620011
Anzahl Zeichen: 3065
contact information:
Contact person: Tom Clark
Town:
Felton
Phone: 4086102300
Kategorie:
Business News
Typ of Press Release: Financial
type of sending: don't
Date of sending: 24.09.2020
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