Protective Relay Market

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Protective Relay Market by Voltage (High, Medium, Low), End-User (Utilities, Industrial, Railways, Others), Application (Feeder, Transmission Line, Motor, Transformer, Generator, Breaker, Capacitor Bank, Busbar), Type, and Region - Global Forecast to 2025

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Report Code: EP 2812 Apr, 2020, by marketsandmarkets.com

[165 Pages Report] The global protective relay market is projected to reach USD 2.7 billion by 2025 from an estimated market size of USD 2.0 billion in 2020, at a CAGR of 5.7% during the forecast period. The protective relay market is set to witness significant growth owing to increased renewable capacity addition, substation automation, and replacement of older electromechanical relays with new and advanced microprocessor-based relays.

Protective Relays Market

The digital & numerical segment of the protective relay is expected to be the highest market, by technology, during the forecast period

The digital & numerical segment is expected to grow at the highest rate, owing to an increased focus on substation automation, smart grid implementation, and distribution and transmission infrastructure development. Digital & numeric protective relays are advanced relays that feature multiple protection functions in one unit, along with metering, communication, self-test functions, and others. These relays use software-based protection algorithms for the detection of faults and are also known as micro-processor type protective relays. These types of advanced features of digital relay make them more attractive in the market than the other electromechanical relay.

The motor protection segment is expected to be the fastest-growing segment in the protective relay market, by application, during the forecast period

The motor protection segment is expected to grow at the fastest rate during the forecast period. Asia Pacific accounted for a 44.3% share of the motor market in 2019. The motor protection relay market is dependent on the manufacturing and commercial sectors. Growth in the industrial segment, especially the manufacturing sectors (chemical, mining, energy) in China, India, Japan, South Korea, and increased commercial activities are likely to drive the demand for the motor protection relay market segment.

The Utility segment is expected to hold the largest share of the protective relay market, by end-user, during the forecast period

Utilities had the largest share (45%) of the protective relay market, by end-users, in 2019. This is due to the large scale use of protective relay by utilities in various applications, such as transformers, feeders, busbars, and high voltage substations. The utility segment is expected to continue its dominance over the forecast period due to the development of new distribution network and grid expansion projects, replacement of old electromechanical protective relays with new and more advanced numeric relays, substation automation for improved power quality, and implementation of smart grids for better grid management.

Protective Relays Market By Region

Asia Pacific is expected to be the largest protective relay market during the forecast period

In this report, the protective relay market has been analyzed with respect to five regions, namely, Asia Pacific, North America, Europe, South America, and the Middle East & Africa.
Asia Pacific is expected to be the largest market during the forecast period. The growth of protective relay in Asia Pacific is due to increasing renewable energy capacity addition. Additionally, focus on substation automation under IEC 61850 standard and increased grid infrastructure activities are expected to drive the market in Asia Pacific during the forecast period.

Key Market Players

The major players in the global protective relay market include ABB (Switzerland), GE (US), Schneider Electric (France), Siemens (Germany), and SEL (US).

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Scope of the Report

Report Metric	Details
Market size available for years	2018�2025
Base year considered	2019
Forecast period	2020�2025
Forecast units	Value (USD)
Segments covered	Voltage, End-User, Technology, Application, and region
Geographies covered	Asia Pacific, North America, Europe, South America, and the Middle East & Africa
Companies covered	ABB (Switzerland), GE (US), Schneider Electric (France), Siemens (Germany), and SEL (US)

This research report categorizes the protective relay market by voltage, end-user, technology, application, and region.

By Voltage:

Low
Medium
High

By End-User:

Utilities
Industrial
Railways
Others (airports, hospitals, commercial complexes and data centers)

By Technology:

Electromechanical & Static Relay
Digital & Numerical Relay

By Application:

Transmission line
Busbar
Transformer
Feeder
Generator
Motor
Others (Capacitor banks & filterbanks Protection, Breaker Protection, & Interconnection Protection)

By Region:

Asia Pacific
North America
Europe
South America
Middle East & Africa

Recent Developments

In July 2019, ABB launched a new motor protection relay, M102. The product is targeted for applications in mining and water treatment industries. M102 is designed to continuously collect and relay data without interrupting processes thereby, providing timely protection by giving fault alarm and protection trip to safeguard motors and ensure a smooth production process.
In November 2019, Siemens has launched the new Reyrolle 5 series of digital protection relays, which offer overcurrent and earth fault protection and transformer protection in substations
In December 2018, GE signed a contract with Ukraine's Ukrenergo for reconstruction of 330 kV substations Kharkivska and Zalyutin. The contract scope includes replacement of power equipment, cable ties, relay protection and automation devices
In February 2020, Eaton, the global power management, technologies, and services company, has introduced three new products to the South African market: Power Xpert C445 intelligent motor management relays, Power Safety Line (PSL) Air Circuit Breakers, and easyE4 control relays
In April 2019, Schneider Electric India received approval from the Competition Commission of India (CCI) to acquire Larsen & Toubro�s (L&T) Electrical & Automation business. The companies entered into business transfer agreement for acquisition in May 2018

Frequently Asked Questions (FAQ):

Which revolutionary technology trends are expected over the next 5 years?

Increased adoption of IEC 61850 standard for substation automation and digitalization of power system are the technology trends that are observed. Digitalization and increased investments in automation are expected to drive the demand for protective relays in the near future.

Which segment of the protective relay market are expected to lead by 2025?

Low voltage protective relay market is expected to lead by 2024 due to increased demand for motor protection relays, and demand from commercial consumers is expected to aid the market growth.

Which type of protective relay is likely to get the maximum opportunity to grow during the forecast period?

Digital or Numeric protective relay market is likely to get the maximum opportunity to grow during the forecast period due to increased focus on replacing old electromechanical relays with digital or numeric relays.

Which region is expected to lead with the highest market share by 2024?

The Asia Pacific region is expected to lead with the highest market share by 2024 due to increased investments in transmission and distribution infrastructure to meet growing energy demand.

How are companies implementing organic and inorganic strategies to gain an increase in the market share?

The companies are implementing organic and inorganic strategies to gain an increase in the market share especially through investments & expansions and contracts & agreements.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 19)
    1.1 OBJECTIVES OF THE STUDY
    1.2 DEFINITION
           1.2.1 PROTECTIVE RELAY MARKET, BY VOLTAGE RANGE: INCLUSIONS & EXCLUSIONS
           1.2.2 PROTECTIVE RELAY MARKET, BY END-USER: INCLUSIONS & EXCLUSIONS
    1.3 MARKET SCOPE
           1.3.1 MARKETS COVERED
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED FOR THE STUDY
    1.4 CURRENCY
    1.5 LIMITATIONS
    1.6 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 23)
    2.1 RESEARCH DATA
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 Breakdown of primaries
    2.2 SCOPE
    2.3 MARKET SIZE ESTIMATION
           2.3.1 DEMAND-SIDE ANALYSIS
                    2.3.1.1 Calculation
                    2.3.1.2 Assumptions
           2.3.2 SUPPLY-SIDE ANALYSIS
                    2.3.2.1 Calculation
                    2.3.2.2 Assumptions
           2.3.3 FORECAST
    2.4 MARKET BREAKDOWN AND DATA TRIANGULATION
    2.5 PRIMARY INSIGHTS

3 EXECUTIVE SUMMARY (Page No. - 33)

4 PREMIUM INSIGHTS (Page No. - 38)
    4.1 ATTRACTIVE OPPORTUNITIES IN THE PROTECTION RELAY MARKET
    4.2 MARKET (VALUE), BY REGION
    4.3 MARKET, BY VOLTAGE
    4.4 MARKET, BY TECHNOLOGY
    4.5 MARKET, BY APPLICATION
    4.6 MARKET, BY END-USER

5 MARKET OVERVIEW (Page No. - 42)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Increase in renewable capacity additions
                    5.2.1.2 Adoption of IEC 61850 standard for substation automation
                    5.2.1.3 Replacement of old electromechanical and static relays with new numeric relays
           5.2.2 RESTRAINTS
                    5.2.2.1 Increasing competition from the unorganized sector
                    5.2.2.2 Lack of investment in grid stability in developing countries
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Increasing power demand and investments in smart grid infrastructure
                    5.2.3.2 Changing face of the Middle Eastern manufacturing industry
           5.2.4 CHALLENGES
                    5.2.4.1 Cybersecurity of numerical relays
                    5.2.4.2 COVID-19 outbreak

6 MARKET, BY TECHNOLOGY (Page No. - 47)
    6.1 INTRODUCTION
    6.2 DIGITAL & NUMERIC RELAY
           6.2.1 INCREASED FOCUS ON SUBSTATION AUTOMATION AND SMART GRID IS EXPECTED DRIVE THE MARKET
    6.3 ELECTROMECHANICAL & STATIC RELAY
           6.3.1 CONTINUED APPLICATION IN HARSH ENVIRONMENT AND REPLACING OLDER RELAYS ARE EXPECTED TO DRIVE THE MARKET SEGMENT

7 MARKET, BY VOLTAGE (Page No. - 51)
    7.1 INTRODUCTION
    7.2 LOW VOLTAGE
           7.2.1 COVID-19 OUTBREAK IS EXPECTED SLOWDOWN THE LOW VOLTAGE MARKET IN 2020
    7.3 MEDIUM VOLTAGE
           7.3.1 INCREASED ELECTRICITY UTILITY ACTIVITY IS EXPECTED TO DRIVE THE MEDIUM VOLTAGE SEGMENT
    7.4 HIGH- VOLTAGE
           7.4.1 NEW TRANSMISSION LINE PROJECTS IN ASIA PACIFIC ARE EXPECTED TO DRIVE THE SEGMENT

8 MARKET , BY APPLICATION (Page No. - 56)
    8.1 INTRODUCTION
    8.2 GENERATOR
           8.2.1 GLOBAL INCREASE IN WIND POWER GENERATION CAPACITY IS EXPECTED TO DRIVE THE SEGMENT
    8.3 TRANSMISSION LINE
           8.3.1 INVESTMENT IN SMART GRID IS LIKELY TO DRIVE THE SEGMENT
    8.4 BUSBAR
           8.4.1 ELECTRICAL UTILITY INFRASTRUCTURE DEVELOPMENT IS LIKELY TO DRIVE THE SEGMENT
    8.5 TRANSFORMER
           8.5.1 INCREASED FOCUS ON SUBSTATION AUTOMATION IN ASIA PACIFIC WILL DRIVE THE MARKET
    8.6 FEEDER
           8.6.1 INCREASED ELECTRICAL INFRASTRUCTURE AND INDUSTRIAL ACTIVITIES WILL DRIVE THE MARKET
    8.7 MOTOR
           8.7.1 SLOWDOWN IN NON-ESSENTIAL MANUFACTURING DUE TO COVID-19 PANDEMIC WILL ADVERSELY AFFECT THE SEGMENT IN SHORT TERM
    8.8 OTHERS
           8.8.1 INCREASED SUBSTATION ACTIVITY WILL BOOST THE MARKET GROWTH

9 MARKET, BY END-USER (Page No. - 63)
    9.1 INTRODUCTION
    9.2 UTILITIES
           9.2.1 EXPANSION OF TRANSMISSION AND DISTRIBUTION NETWORK DUE TO GROWING UN-INTERRUPTED POWER SUPPLY TO THE END-USERS IS LIKELY TO MARKET GROWTH
    9.3 INDUSTRIAL
           9.3.1 GROWTH IN INDUSTRIAL SECTORS IS EXPECTED TO DRIVE MARKET FOR PROTECTIVE RELAY
    9.4 RAILWAYS
           9.4.1 GROWING INVESTMENTS IN RAILWAYS & METROS LIKELY TO PROPEL DEMAND FOR PROTECTIVE RELAY
    9.5 OTHERS
           9.5.1 COVID 19 OUTBREAK, ADVERSELY AFFECT THE MARKET IN COMMERCIAL SECTOR

10 MARKET, BY REGION (Page No. - 68)
     10.1 INTRODUCTION
     10.2 NORTH AMERICA
             10.2.1 BY VOLTAGE
             10.2.2 BY TECHNOLOGY
             10.2.3 BY APPLICATION
             10.2.4 BY END-USER
             10.2.5 BY COUNTRY
                        10.2.5.1 US
                                     10.2.5.1.1 Increasing investment in electrical infrastructure upgrades is expected to drive the demand for market
                        10.2.5.2 Canada
                                     10.2.5.2.1 Investment in electricity utility upgrade is expected to drive this market
                        10.2.5.3 Mexico
                                     10.2.5.3.1 Utilities segment is expected to dominate the market during the forecast period
     10.3 EUROPE
             10.3.1 BY VOLTAGE
             10.3.2 BY TECHNOLOGY
             10.3.3 BY APPLICATION
             10.3.4 BY END-USER
             10.3.5 BY COUNTRY
                        10.3.5.1 UK
                                     10.3.5.1.1 Growing investments in electrical infrastructure to offer growth opportunities for the market
                        10.3.5.2 Germany
                                     10.3.5.2.1 Renewable energy capacity developments are driving the market
                        10.3.5.3 Italy
                                     10.3.5.3.1 Investments in utility and railways are likely to drive the market
                        10.3.5.4 France
                                     10.3.5.4.1 Increasing investments in renewable energy likely to boost the demand for protective relay
                        10.3.5.5 Spain
                                     10.3.5.5.1 Increasing investments in renewable energy and Infrastructure likely to boost the demand for protective relay
     10.4 ASIA PACIFIC
             10.4.1 BY VOLTAGE
             10.4.2 BY TECHNOLOGY
             10.4.3 BY APPLICATION
             10.4.4 BY END-USER
             10.4.5 BY COUNTRY
                        10.4.5.1 China
                                     10.4.5.1.1 Strong growth in the energy and manufacturing sectors is driving the market
                        10.4.5.2 India
                                     10.4.5.2.1 Increased power generation and growth in the manufacturing sector are likely to drive the market
                        10.4.5.3 Japan
                                     10.4.5.3.1 Government initiatives to boost renewable energy generation would boost the market
                        10.4.5.4 Australia
                                     10.4.5.4.1 Increasing investments in clean energy and infrastructure development projects would drive the market
                        10.4.5.5 South Korea
                                     10.4.5.5.1 Increased power generation using renewables and growth in the manufacturing sector are likely to drive the market
     10.5 SOUTH AMERICA
             10.5.1 BY VOLTAGE
             10.5.2 BY TECHNOLOGY
             10.5.3 BY APPLICATION
             10.5.4 BY END-USER
             10.5.5 BY COUNTRY
                        10.5.5.1 Brazil
                                     10.5.5.1.1 Robust T&D projects are likely to boost the market
                        10.5.5.2 Argentina
                                     10.5.5.2.1 Government initiatives to boost renewable energy generation would boost the market
     10.6 MIDDLE EAST & AFRICA
             10.6.1 BY VOLTAGE
             10.6.2 BY TECHNOLOGY
             10.6.3 BY APPLICATION
             10.6.4 BY END-USER
             10.6.5 BY COUNTRY
                        10.6.5.1 Saudi Arabia
                                     10.6.5.1.1 Focus on diversified electricity generation and infrastructure projects is expected to drive the market
                        10.6.5.2 UAE
                                     10.6.5.2.1 Government initiatives promoting renewable energy are expected to drive the market
                        10.6.5.3 Qatar
                                     10.6.5.3.1 Utility sector is expected to drive the market in Qatar
                        10.6.5.4 Egypt
                                     10.6.5.4.1 Focus on upgrading the infrastructure is expected to drive the market
                        10.6.5.5 South Africa
                                     10.6.5.5.1 Utility sector is expected to drive the market in South Africa

11 COMPETITIVE LANDSCAPE (Page No. - 108)
     11.1 OVERVIEW
     11.2 COMPETITIVE LEADERSHIP MAPPING (OVERALL MARKET)
             11.2.1 VISIONARY LEADERS
             11.2.2 INNOVATORS
             11.2.3 DYNAMIC DIFFERENTIATORS
             11.2.4 EMERGING
     11.3 MARKET SHARE, 2019
     11.4 COMPETITIVE SCENARIO
             11.4.1 NEW PRODUCT LAUNCHES
             11.4.2 INVESTMENTS & EXPANSIONS
             11.4.3 MERGER & ACQUISITIONS
             11.4.4 CONTRACTS & AGREEMENTS
             11.4.5 OTHERS

12 COMPANY PROFILES (Page No. - 115)
(Business overview, Products offered, Recent Developments, SWOT Analysis, MNM view)*
     12.1 SCHNEIDER ELECTRIC
     12.2 ABB
     12.3 SIEMENS
     12.4 GENERAL ELECTRIC
     12.5 SCHWEITZER ENGINEERING LABORATORIES
     12.6 EATON
     12.7 LARSEN & TOUBRO
     12.8 NR ELECTRIC
     12.9 MITSUBISHI ELECTRIC
     12.10 TOSHIBA
     12.11 CG POWER AND INDUSTRIAL SOLUTIONS
     12.12 ZIV APLICACIONES Y TECNOLOGIA
     12.13 BASLER ELECTRIC
     12.14 FANOX ELECTRONIC
     12.15 ORION ITALIA
     12.16 WOODWARD
     12.17 ASHIDA ELECTRONICS
     12.18 LITTELFUSE
     12.19 ROCKWELL
     12.20 SOLCON
*Details on Business overview, Products offered, Recent Developments, SWOT Analysis, MNM view might not be captured in case of unlisted companies.

13 APPENDIX (Page No. - 158)
     13.1 INSIGHTS OF INDUSTRY EXPERTS
     13.2 DISCUSSION GUIDE
     13.3 KNOWLEDGE STORE: MARKETSANDMARKETS� SUBSCRIPTION PORTAL
     13.4 AVAILABLE CUSTOMIZATIONS
     13.5 RELATED REPORTS
     13.6 AUTHOR DETAILS

LIST OF TABLES (109 Tables)

TABLE 1 PROTECTIVE RELAY MARKET SNAPSHOT
TABLE 2 COUNTRY WISE PERCENTAGE DEVIATION FROM BENCHMARKS DUE TO COVID-19 PANDEMIC
TABLE 3 MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD MILLION)
TABLE 4 DIGITAL & NUMERIC RELAY MARKET SIZE, BY REGION, 2018�2025 (USD MILLION)
TABLE 5 ELECTROMECHANICAL & STATIC RELAY MARKET SIZE, BY REGION, 2018�2025 (USD MILLION)
TABLE 6 FEEDER RELAY MARKET SIZE, BY VOLTAGE, 2018�2025 (USD MILLION)
TABLE 7 LOW VOLTAGE MARKET SIZE, BY REGION, 2018�2025 (USD MILLION)
TABLE 8 MEDIUM VOLTAGE TRANSMISSION LINE RELAY MARKET SIZE, BY REGION, 2018�2025 (USD MILLION)
TABLE 9 HIGH VOLTAGE TRANSMISSION LINE RELAY MARKET SIZE, BY REGION, 2018�2025 (USD MILLION)
TABLE 10 PROTECTIVE RELAY MARKET SIZE, BY APPLICATION, 2018�2025 (USD MILLION)
TABLE 11 GENERATOR: FEEDER RELAY MARKET SIZE, BY REGION, 2018�2025 (USD MILLION)
TABLE 12 TRANSMISSION LINE: FEEDER RELAY MARKET SIZE, BY REGION, 2018�2025 (USD MILLION)
TABLE 13 BUSBAR: PROTECTION RELAY MARKET SIZE, BY REGION, 2018�2025 (USD MILLION)
TABLE 14 TRANSFORMER: PROTECTION RELAY MARKET SIZE, BY REGION, 2018�2025 (USD MILLION)
TABLE 15 FEEDER: TRANSMISSION LINE RELAY MARKET SIZE, BY REGION, 2018�2025 (USD MILLION)
TABLE 16 MOTOR: TRANSMISSION LINE RELAY MARKET SIZE, BY REGION, 2018�2025 (USD MILLION)
TABLE 17 OTHERS: TRANSMISSION LINE RELAY MARKET SIZE, BY REGION, 2018�2025 (USD MILLION)
TABLE 18 MARKET SIZE, BY END-USER, 2018�2025 (USD MILLION)
TABLE 19 UTILITIES: FEEDER RELAY MARKET SIZE, BY REGION, 2018�2025 (USD MILLION)
TABLE 20 INDUSTRIAL: MARKET SIZE, BY REGION, 2018�2025 (USD MILLION)
TABLE 21 RAILWAYS: FEEDER RELAY MARKET SIZE, BY REGION, 2018�2025 (USD MILLION)
TABLE 22 OTHERS: MARKET SIZE, BY REGION, 2018�2025 (USD MILLION)
TABLE 23 FEEDER RELAY MARKET SIZE, BY REGION, 2018�2025 (UNITS IN THOUSAND)
TABLE 24 FEEDER RELAY MARKET SIZE, BY REGION, 2018�2025 (USD MILLION)
TABLE 25 NORTH AMERICA: TRANSMISSION LINE RELAY MARKET SIZE, BY VOLTAGE, 2018�2025 (USD MILLION)
TABLE 26 NORTH AMERICA: MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD MILLION)
TABLE 27 NORTH AMERICA: TRANSMISSION LINE RELAY MARKET SIZE, BY APPLICATION, 2018�2025 (USD MILLION)
TABLE 28 NORTH AMERICA: FEEDER RELAY MARKET SIZE, BY END-USER, 2018�2025 (USD MILLION)
TABLE 29 NORTH AMERICA: MARKET, BY COUNTRY, 2018�2025 (USD MILLION)
TABLE 30 US: MARKET SIZE, BY VOLTAGE, 2018�2025 (USD MILLION)
TABLE 31 US: PROTECTION RELAY MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD MILLION)
TABLE 32 US: MARKET SIZE, BY END-USER, 2018�2025 (USD THOUSAND)
TABLE 33 CANADA: MARKET SIZE, BY VOLTAGE, 2018�2025 (USD MILLION)
TABLE 34 CANADA: TRANSMISSION LINE RELAY MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD MILLION)
TABLE 35 CANADA: TRANSFORMER RELAY MARKET SIZE, BY END-USER, 2018�2025 (USD THOUSAND)
TABLE 36 MEXICO: TRANSFORMER RELAY MARKET SIZE, BY VOLTAGE, 2018�2025 (USD MILLION)
TABLE 37 MEXICO: TRANSFORMER RELAY MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD MILLION)
TABLE 38 MEXICO: TRANSMISSION LINE RELAY MARKET SIZE, BY END-USER, 2018�2025 (USD THOUSAND)
TABLE 39 EUROPE: FEEDER RELAY MARKET SIZE, BY VOLTAGE, 2018�2025 (USD MILLION)
TABLE 40 EUROPE: FEEDER RELAY MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD MILLION)
TABLE 41 EUROPE: FEEDER RELAY MARKET SIZE, BY APPLICATION, 2018�2025 (USD MILLION)
TABLE 42 EUROPE: TRANSMISSION LINE RELAY MARKET SIZE, BY END-USER, 2018�2025 (USD MILLION)
TABLE 43 EUROPE: MARKET SIZE, BY COUNTRY, 2018�2025 (USD MILLION)
TABLE 44 UK: MOTOR RELAY MARKET SIZE, BY VOLTAGE, 2018�2025 (USD MILLION)
TABLE 45 UK: TRANSFORMER RELAY MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD MILLION)
TABLE 46 UK: TRANSFORMER RELAY MARKET SIZE, BY END-USER, 2018�2025 (USD THOUSAND)
TABLE 47 GERMANY: FEEDER RELAY MARKET SIZE, BY VOLTAGE, 2018�2025 (USD MILLION)
TABLE 48 GERMANY: FEEDER RELAY MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD MILLION)
TABLE 49 GERMANY: MOTOR RELAY MARKET SIZE, BY END-USER, 2018�2025 (USD THOUSAND)
TABLE 50 ITALY: MOTOR RELAY MARKET SIZE, BY VOLTAGE, 2018�2025 (USD MILLION)
TABLE 51 ITALY: MOTOR RELAY MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD MILLION)
TABLE 52 ITALY: MOTOR RELAY MARKET SIZE, BY END-USER, 2018�2025 (USD THOUSAND)
TABLE 53 FRANCE: BUSBAR RELAY MARKET SIZE, BY VOLTAGE, 2018�2025 (USD MILLION)
TABLE 54 FRANCE: BUSBAR RELAY MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD MILLION)
TABLE 55 FRANCE: BUSBAR RELAY MARKET SIZE, BY END-USER, 2018�2025 (USD THOUSAND)
TABLE 56 SPAIN: MOTOR RELAY MARKET SIZE, BY VOLTAGE, 2018�2025 (USD MILLION)
TABLE 57 SPAIN: MOTOR RELAY MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD MILLION)
TABLE 58 SPAIN: MOTOR RELAY MARKET SIZE, BY END-USER, 2018�2025 (USD THOUSAND)
TABLE 59 ASIA PACIFIC: ELECTROMECHANICAL MARKET SIZE, BY VOLTAGE, 2018�2025 (USD MILLION)
TABLE 60 ASIA PACIFIC: ELECTROMECHANICAL MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD MILLION)
TABLE 61 ASIA PACIFIC: ELECTROMECHANICAL MARKET SIZE, BY APPLICATION 2018�2025 (USD MILLION)
TABLE 62 ASIA PACIFIC: ELECTROMECHANICAL MARKET SIZE, BY END-USER 2018�2025 (USD MILLION)
TABLE 63 ASIA PACIFIC: ELECTROMECHANICAL MARKET SIZE, BY COUNTRY, 2018�2025 (USD MILLION)
TABLE 64 CHINA: STATIC RELAY MARKET SIZE, BY VOLTAGE, 2018�2025 (USD MILLION)
TABLE 65 CHINA: STATIC RELAY MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD MILLION)
TABLE 66 CHINA: STATIC RELAY MARKET SIZE, BY END-USER, 2018�2025 (USD THOUSAND)
TABLE 67 INDIA: MOTOR RELAY MARKET SIZE, BY VOLTAGE, 2018�2025 (USD MILLION)
TABLE 68 INDIA: MOTOR RELAY MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD MILLION)
TABLE 69 INDIA: MOTOR RELAY MARKET SIZE, BY END-USER, 2018�2025 (USD THOUSAND)
TABLE 70 JAPAN: STATIC RELAY MARKET SIZE, BY VOLTAGE, 2018�2025 (USD MILLION)
TABLE 71 JAPAN: STATIC RELAY MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD MILLION)
TABLE 72 JAPAN: STATIC RELAY MARKET SIZE, BY END-USER, 2018�2025 (USD THOUSAND)
TABLE 73 AUSTRALIA: STATIC RELAY MARKET SIZE, BY VOLTAGE, 2018�2025 (USD MILLION)
TABLE 74 AUSTRALIA: STATIC RELAY MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD MILLION)
TABLE 75 AUSTRALIA: STATIC RELAY MARKET SIZE, BY END-USER, 2018�2025 (USD THOUSAND)
TABLE 76 SOUTH KOREA: MOTOR RELAY MARKET SIZE, BY VOLTAGE, 2018�2025 (USD MILLION)
TABLE 77 SOUTH KOREA: MOTOR RELAY MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD MILLION)
TABLE 78 SOUTH KOREA: MOTOR RELAY MARKET SIZE, BY END-USER, 2018�2025 (USD THOUSAND)
TABLE 79 SOUTH AMERICA: BUSBAR RELAY MARKET SIZE, BY VOLTAGE, 2018�2025 (USD MILLION)
TABLE 80 SOUTH AMERICA: BUSBAR RELAY MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD MILLION)
TABLE 81 SOUTH AMERICA: BUSBAR RELAY MARKET SIZE, BY APPLICATION, 2018�2025 (USD MILLION)
TABLE 82 SOUTH AMERICA: BUSBAR RELAY MARKET SIZE, BY END-USER, 2018�2025 (USD MILLION)
TABLE 83 SOUTH AMERICA: BUSBAR RELAY MARKET SIZE, BY COUNTRY, 2018�2025 (USD MILLION)
TABLE 84 BRAZIL: STATIC RELAY MARKET SIZE, BY VOLTAGE, 2018�2025 (USD THOUSAND)
TABLE 85 BRAZIL: STATIC RELAY MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD THOUSAND)
TABLE 86 BRAZIL: STATIC RELAY MARKET SIZE, BY END-USER, 2018�2025 (USD THOUSAND)
TABLE 87 ARGENTINA: MOTOR RELAY MARKET SIZE, BY VOLTAGE, 2018�2025 (USD THOUSAND)
TABLE 88 ARGENTINA: MOTOR RELAY MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD THOUSAND)
TABLE 89 ARGENTINA: MOTOR RELAY MARKET SIZE, BY END-USER, 2018�2025 (USD THOUSAND)
TABLE 90 MIDDLE EAST & AFRICA: DIGITAL RELAY MARKET SIZE, BY VOLTAGE, 2018�2025 (USD MILLION)
TABLE 91 MIDDLE EAST & AFRICA: DIGITAL RELAY MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD MILLION)
TABLE 92 MIDDLE EAST & AFRICA: DIGITAL RELAY MARKET SIZE, BY APPLICATION, 2018�2025 (USD MILLION)
TABLE 93 MIDDLE EAST & AFRICA: DIGITAL RELAY MARKET SIZE, BY END-USER, 2018�2025 (USD MILLION)
TABLE 94 MIDDLE EAST & AFRICA: DIGITAL RELAY MARKET SIZE, BY COUNTRY, 2018�2025 (USD MILLION)
TABLE 95 SAUDI ARABIA: MOTOR RELAY MARKET SIZE, BY VOLTAGE, 2018�2025 (USD THOUSAND)
TABLE 96 SAUDI ARABIA: MOTOR RELAY MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD THOUSAND)
TABLE 97 SAUDI ARABIA: MOTOR RELAY MARKET SIZE, BY END-USER, 2018�2025 (USD THOUSAND)
TABLE 98 UAE: ELECTROMECHANICAL MARKET SIZE, BY VOLTAGE, 2018�2025 (USD THOUSAND)
TABLE 99 UAE: MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD THOUSAND)
TABLE 100 UAE: MARKET SIZE , BY END-USER, 2018�2025 (USD THOUSAND)
TABLE 101 QATAR: ELECTROMECHANICAL MARKET SIZE, BY VOLTAGE, 2018�2025 (USD THOUSAND)
TABLE 102 QATAR: ELECTROMECHANICAL MARKET SIZE MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD THOUSAND)
TABLE 103 QATAR: ELECTROMECHANICAL MARKET SIZE MARKET SIZE, BY END-USER, 2018�2025 (USD THOUSAND)
TABLE 104 EGYPT: ELECTROMECHANICAL MARKET SIZE, BY VOLTAGE, 2018�2025 (USD THOUSAND)
TABLE 105 EGYPT: TRANSFORMER RELAY MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD THOUSAND)
TABLE 106 EGYPT: TRANSFORMER RELAY MARKET SIZE, MARKET SIZE, BY END-USER, 2018�2025 (USD THOUSAND)
TABLE 107 SOUTH AFRICA: ELECTROMECHANICAL MARKET SIZE, BY VOLTAGE, 2018�2025 (USD THOUSAND)
TABLE 108 SOUTH AFRICA: ELECTROMECHANICAL MARKET SIZE, BY TECHNOLOGY, 2018�2025 (USD THOUSAND)
TABLE 109 SOUTH AFRICA: ELECTROMECHANICAL MARKET SIZE, BY END-USER, 2018�2025 (USD THOUSAND)

LIST OF FIGURES (43 Figures)

FIGURE 1 PROTECTIVE RELAY MARKET: RESEARCH DESIGN
FIGURE 2 MAIN METRICS CONSIDERED WHILE CONSTRUCTING AND ASSESSING THE DEMAND FOR THE PROTECTIVE RELAYS MARKET
FIGURE 3 PROTECTIVE RELAY MARKET: SUPPLY-SIDE ANALYSIS
FIGURE 4 DATA TRIANGULATION METHODOLOGY
FIGURE 5 KEY SERVICE PROVIDERS� POINT OF VIEW
FIGURE 6 LOW VOLTAGE SEGMENT IS EXPECTED TO DOMINATE THE MARKET, BY VOLTAGE, DURING THE FORECAST PERIOD
FIGURE 7 DIGITAL & NUMERIC RELAY SEGMENT OF THE MARKET, BY TECHNOLOGY, IS EXPECTED TO DOMINATE DURING THE FORECAST PERIOD
FIGURE 8 TRANSFORMER IS EXPECTED TO HOLD THE LARGEST SHARE OF THE MARKET, BY APPLICATION, DURING THE FORECAST PERIOD
FIGURE 9 UTILITIES IS EXPECTED TO HOLD THE LARGEST SHARE OF THE MARKET, BY END-USER, DURING THE FORECAST PERIOD
FIGURE 10 ASIA PACIFIC DOMINATED THE DIGITAL RELAY MARKET IN 2019
FIGURE 11 GROWING POWER REQUIREMENTS AND UPGRADING OF AGING ELECTRICAL INFRASTRUCTURE ARE EXPECTED TO DRIVE THE MARKET, 2020�2025
FIGURE 12 MARKET IN ASIA PACIFIC IS EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
FIGURE 13 LOW VOLTAGE SEGMENT DOMINATED THE DIGITAL RELAY MARKET, BY VOLTAGE, IN 2019
FIGURE 14 NUMERIC & DIGITAL SEGMENT DOMINATED THE DIGITAL RELAY MARKET, BY TECHNOLOGY, IN 2019
FIGURE 15 TRANSFORMER SEGMENT DOMINATED THE MARKET, BY APPLICATION, IN 2019
FIGURE 16 UTILITIES SEGMENT DOMINATED THE MARKET, BY END-USER, IN 2019
FIGURE 17 PROTECTIVE RELAY MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
FIGURE 18 RENEWABLE CAPACITY ADDITION BETWEEN 2019-2024 (GW)
FIGURE 19 PROTECTIVE RELAY MARKET (VALUE), BY TECHNOLOGY, 2019
FIGURE 20 PROTECTIVE RELAY MARKET (VALUE), BY VOLTAGE, 2019
FIGURE 21 PROTECTIVE RELAY MARKET (VALUE), BY APPLICATION, 2019
FIGURE 22 PROTECTIVE RELAY MARKET (VALUE), BY END-USER, 2019
FIGURE 23 REGIONAL SNAPSHOT: ASIA PACIFIC MARKET IS EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
FIGURE 24 PROTECTIVE RELAY MARKET SHARE (VALUE), BY REGION, 2019
FIGURE 25 NORTH AMERICA: MARKET SNAPSHOT
FIGURE 26 ASIA PACIFIC: MARKET SNAPSHOT
FIGURE 27 KEY DEVELOPMENTS IN THE DIGITAL RELAY MARKET, 2017�2019
FIGURE 28 COMPETITIVE LEADERSHIP MAPPING (OVERALL MARKET)
FIGURE 29 ABB LED THE MARKET IN 2019
FIGURE 30 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
FIGURE 31 SCHNEIDER ELECTRIC: SWOT ANALYSIS
FIGURE 32 ABB: COMPANY SNAPSHOT
FIGURE 33 ABB: SWOT ANALYSIS
FIGURE 34 SIEMENS: COMPANY SNAPSHOT
FIGURE 35 SIEMENS: SWOT ANALYSIS
FIGURE 36 GENERAL ELECTRIC: COMPANY SNAPSHOT
FIGURE 37 GENERAL ELECTRIC: SWOT ANALYSIS
FIGURE 38 SCHWEITZER ENGINEERING LABORATORIES: SWOT ANALYSIS
FIGURE 39 EATON: COMPANY SNAPSHOT
FIGURE 40 LARSEN & TOUBRO: COMPANY SNAPSHOT
FIGURE 41 MITSUBISHI ELECTRIC: COMPANY SNAPSHOT
FIGURE 42 TOSHIBA: COMPANY SNAPSHOT
FIGURE 43 CG POWER AND INDUSTRIAL SOLUTIONS: COMPANY SNAPSHOT

This study involved four major activities in estimating the current size of the protective relay market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through rigorous primary research. Both top-down and bottom-up approaches were used to estimate the total market size. The market breakdown and data triangulation techniques were employed to estimate the market size of the segments and the corresponding subsegments.

Secondary Research

This research study involved the use of extensive secondary sources, directories, and databases such as UNCTAD data, industry publications, several newspaper articles, the Statista Industry Journal, Factiva, to identify and collect information useful for a technical, market-oriented, and commercial study of the protective relay market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.

Primary Research

The protective relay market comprises several stakeholders such as protective relay manufacturing companies, venture capital firms, consulting companies in the energy and power sector, transmission and distribution companies, government & research organizations, forums, alliances & associations, dealers & suppliers. The demand side of the market is characterized by increasing power demand, mainly in the Asia Pacific. The demand is also driven by the increasing sales of protective relay in Asia Pacific. The supply side is characterized by the increase in new product launches, contracts & agreements, partnerships & collaborations, and mergers & acquisitions among big players. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is given below:

Protective Relays Market Report

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the size of the global protective relay market and its dependent submarkets. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

The key players in the industry and market have been identified through extensive secondary research, and their market shares in the respective regions have been determined through both primary and secondary research.
The industry�s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size-using the market size estimation processes as explained above-the market was split into several segments and subsegments. To complete the entire market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the protective relay market.

Report Objectives

To define, describe, and forecast the global protective relay market on the basis of voltage, technology, end-user, application, and region
To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
To strategically analyze the market with respect to individual growth trends, future prospects, and contributions of each segment to the market
To analyze market opportunities for stakeholders and provide details of the competitive landscape for market leaders
To benchmark players within the market using the proprietary Vendor DIVE framework, which analyzes the market players on various parameters within the broad categories of business and product strategies
To track and analyze competitive developments such as expansions, new product launches, partnerships & collaborations and mergers & acquisitions in the protective relay market

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the client�s specific needs. The following customization options are available for this report:

Product Analysis

Product Matrix, which provides a detailed comparison of the product portfolio of each company