NEW YORK, March 8, 2016 /PRNewswire/ -- "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.
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%
Note: *Others include sales managers, marketing managers, and product managers
The tier of the companies is defined on the basis of their total revenue; as of 2013: Tier 1 = >USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion and Tier 3 =
This report includes profiles of major players in the protective relay market, such as Eaton Corporation (Ireland), SEL Inc. (U.S.) (General Electric (U.S.), ABB Ltd. (Switzerland), and Schneider Electric (France).
Why buy this report?
1. The report identifies and addresses key markets for protective relays, which will help suppliers and OEMs to review production and distribution plans.
2. The report includes an analysis of key countries, by protective relay voltage range—that is, high, medium, and low. It analyzes historical trends and also provides a forecast for 2021, which would assist in strategic decision-making.
3. It also presents a competitive scenario by analyzing recent market developments such as contracts, expansions, and new product launches by global market players. It helps understand the competitive strategies used by these players.
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