DUBLIN, March 8, 2016 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/47rwq3/protective_relay) has announced the addition of the "Protective Relay Market by Voltage, by End-User, and by Protection Mechanism - Global Trends and Forecasts to 2021" report to their offering.
The global protective relay market is projected to grow at a CAGR of 6.5% from 2016 to 2021, to reach USD 4.54 Billion by 2021. This growth can be attributed to the increase in transmission & distribution activities across the globe. Ongoing smart grid and substation automation projects are also expected to drive the market.
In emerging economies such as China and India, the market is boosted by rapid industrialization and urbanization activities. The report segments the protective relay market on the basis of major end-user applications into industries, utilities, renewables, and marine. Utilities are estimated to constitute the largest market for protective relays, and held the largest market share in 2015
Asia-Pacific is estimated to hold the largest market share, followed by North America and Europe. In terms of individual countries, the market is dominated by China. This can be attributed to the extensive electrical infrastructure upgradation and new transmission & distribution lines being installed in the country.
China held the largest share of the global protective relay market in 2015. Rapid economic growth in BRICS nations is expected to drive the protective relay market in these nations. Protective relays will likely be used extensively in the new electrical transmission & distribution networks of BRICS countries.
- ABB Ltd
- GE Co.
- Littelfuse, Inc.
- Mitsubishi Electric Corp.
- NR Electric Co. Ltd
- Schneider Electric SA
- Sel, Inc.
- Siemens AG
2 Research Methodology
3 Executive Summary
4 Protective Relayemium Insights
5 Market Overview
6 Industry Trends
7 Global Protective Relay Market By Voltage Range
8 Global Protective Relay Market By Protection Mechanism
9 Global Protective Relay Market By End-User
10 Global Protective Relay Market, By Region
For more information visit http://www.researchandmarkets.com/research/47rwq3/protective_relay
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SOURCE Research and Markets