DUBLIN, November 13, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/9smhk6/protective_relay) has announced the addition of the "Protective Relay Market by Type, by Application, and by Product Category - Global Trends and Forecasts to 2019" report to their offering.
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Protective relays are used by utilities companies and industries to protect expensive instruments such as transformers and motors. The relay senses abnormalities in operating conditions such as over-current, over-voltage, reverse power flow, over-and-under frequency, and trips the circuit breaker. Microprocessor and intelligent relays are now being used extensively because they are multi-functional and cost efficient in comparison to electromechanical relays.
The global protective relay market is projected to exhibit high growth on account of rising power generation and increased upgradation on electrical infrastructure, influenced by rising energy demand. The market was valued at $2,759.2 million globally for 2013. It is projected to grow at a CAGR of 9.67% through to 2019, owing to extensive modernization activities being carried out globally.
Asia-Pacific holds major market share followed by Asia-Pacific and North America & Europe. In terms of individual countries, the market is dominated by China on account of extensive electrical infrastructure upgradation and new transmission and distribution lines being installed. China alone holds more than 25% of the global protective relay market. Rapid growth in the BRIC nations' economies is expected to be the major driving factor for development in these nations. Protective relays are expected to be used extensively in the new electrical transmission and distribution networks.
Utilities hold major market share as protective relays are used extensively by utilities companies. North America and Europe currently have market for only replacement of existing electromechanical relays by advanced microprocessor and intelligent relays.
The protective relay industry is very fragmented and offers opportunities for consolidation. This can be seen by the several major M&A activities taking place in the industry, as well as subsidiary formation by big players for the purpose of renting. There are very few industry leaders disconcerted over the optimal growth strategy for this market. In this industry, most of the players are very small and local rental companies.
The top five companies in the protective relay industry include Schweitzer Engineering Laboratories, Inc. (U.S.), ABB (Switzerland), GE (U.S.), and Alstom (France).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Global Pr Market By Type
8 Global Pr Market By Product Category
9 Global Pr Market By Application
10 Global Pr Market, By Geography
11 Competitive Landscape
12 Company Profiles
- ABB Ltd
- Ge Co.
- Littelfuse, Inc.
- Mitsubishi Electric Corp.
- NR Electric Co. Ltd
- Schneider Electric SA
- Sel, Inc.
- Siemens AG
For more information visit http://www.researchandmarkets.com/research/9smhk6/protective_relay
Media Contact: Laura Wood , +353-1-481-1716, [email protected]
SOURCE Research and Markets