The market study outlines the market forecast of protective relays until 2019 with segmentations based on electromechanical protective relays, protective solid state relays, and digital protective relays. The research report includes an insightful analysis of the leading market vendors, including ABB, ALSTOM, GE, and Schneider. Market shares for APAC, Americas, and EMEA are also provided in this report.
Technavio’s market research analysts estimate the global protective relays market to grow at a CAGR of more than 3% between 2015 and 2019. Increased investments in renewable energy projects across the global has contributed to the growth of protective relays market. APAC dominates the global market for protective relays, occupying around 42% of the overall market revenue. Much of this region’s growth comes from the increased demand for electricity due to increase in industrialization and urbanization processes across the region.
The new market research report from Technavio provides a breakdown and analysis of the protective relays segments by technology.
“Of late, the market vendors are offering miniaturized relays that can be easily integrated in printed circuit boards (PCB). Demand for these small relays are on rise due to the growth in the electrical and electronics sector especially in India, Brazil, and China. The relay manufacturers are also aiming to develop digital relays that can be integrated with other field devices and components,” says Navin Rajendra, Lead Analyst, Industrial Automation, Technavio Research.
Protective digital relays have the largest market share in the overall protective relays market, covering around 84% of the market. Growing requirement for accuracy will increase the demand for these relays over the next four years. Digital relays are flexible devices and can be adapted for almost all applications due to their small size. These relays can be programmed and upgraded as per the requirements, hence are preferred by various discrete and processing industries.
The leading vendors in the global protective relays market include ABB, ALSTOM Inspection Robotics, GE, and Schneider Electric. International players are expected to increase their footprint in emerging markets and compete with local vendors during the forecast period. Local vendors find it difficult to compete with them, especially in terms of quality, features, and capability. As per the market forecast, the competitive business environment in this market is predicted to intensify with increasing product extensions, technological innovations, and mergers and acquisitions.
A more detailed analysis is available in the Technavio report, Global Protective Relays Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
Other Related Reports:
- Global Electromechanical and Solid-state Relay Market 2015-2019
- Global Personal Protective Equipment (PPE) Market 2015-2019
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