Protective Relay Market - Global Trends and Forecasts to 2021 - New Study Released
New Energy research report from Markets and Markets is now available from Fast Market Research
[USPRwire, Wed Mar 30 2016] Protective Relay Market by Voltage (High, Medium, and Low), by End-User (Utilities, Industries, Renewables, and Marine), and by Protection Mechanism (Feeder, Transmission Line, Motor, Transformer, Generator, Breaker, Capacitor Bank, and Busbar) - Global Trends and Forecasts to 2021
"PROTECTIVE RELAY MARKET TO GROW AT A CAGR OF 6.5% FROM 2016 TO 2021"
The protective relay market is projected to reach USD 4.54 billion by 2021, growing at a CAGR of 6.5% during the forecast period. The increasing investments in transmission & distribution infrastructure-including substations-and transmission & distribution lines, coupled with the increasing urbanization in developing nations, have propelled the growth of the protective relay market. Substations in developed nations are being modernized to ensure uninterrupted power supply with minimum loss. This is achieved by replacing the traditional electromagnetic and static relays with advanced numeric and digital relays. These relays also retain the data, which allows utilities or other users to track power outages caused by faults.
Full Report Details at
Furthermore, investments in smart grid technologies are increasing, especially in developed countries. Protective relays are an integral part of the power system, and are therefore being continuously improved to increase protection levels.
"FEEDER PROTECTION RELAYS TO LEAD THE MARKET DURING THE FORECAST PERIOD"
Feeder protection relays occupied the largest share of the protective relay market in 2015. Feeders are the current loading points of the transmission of distribution lines. They are present in the transmission network, distribution network, switchyards, and substations. The protection of feeders is essential to ensure uninterrupted power supply and to protect the lines along with the feeders.
"ASIA-PACIFIC: THE FASTEST-GROWING MARKET FOR PROTECTIVE RELAYS"
Asia-Pacific is the largest market for protective relays. China and India are the major driving force behind the growth of the Asia-Pacific market. Countries such as Australia and Japan are also witnessing considerable growth. China held the largest share of the global protective relay market in 2015. The BRICS economies are expected to be major markets for protective relay manufacturers.
Breakdown of Primaries:
In-depth interviews have been conducted with various primary respondents, including key industry participants, subject matter experts, C-level executives of major market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.
By Company Type: Tier 1- 35%, Tier 2- 45%, and Tier 3- 20%
By Designation: C-Level- 35%, D-Level- 25%, and Others*- 40%
By Region: North America- 45%, Europe- 30%, Asia-Pacific- 20%, and RoW- 5%
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.
For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)
You may also be interested in these related reports:
- Thermal Power in Thailand, Market Outlook to 2025, Update 2015 - Capacity, Generation, Investment Trends, Regulations and Company Profiles
- MediPoint: Orthotic and Prosthetic (O&P) Devices - Global Analysis and Market Forecasts
- MediPoint: Viscosupplementation - Global Analysis and Market Forecasts
- MediPoint: Women's Health - Global Analysis and Market Forecasts
- MediPoint: Endoscopy - Global Analysis and Market Forecasts