Asia Pacific Protective Relay Market, By End-Use, 2014 - 2024 (USD Million)
The protectiverelay market is expected to reach USD
4,025.2 million by 2024, according to a new report by Grand View Research, Inc.
Mounting investments in the transmission & distribution networks to replace
the old equipment is expected to be a major factor expected to spur the growth
over the forecast period. The intensifying intricacy of electrical systems has
made it inevitable to incorporate protective devices for power systems safety.
The growing electricity generation capacity to meet the growing population’s
electricity demand is estimated to act as a key driver augmenting market
demand. Nevertheless, the cost concomitant with the set up & maintenance of
these relays is estimated to challenge the industry over the near future.
The global protective relay
market is anticipated to witness high growth over the forecast period. This may
be accredited to continuous population growth along with the mounting regional
power consumption in Asia Pacific. The rising importance of smart grid
technology coupled with upsurge in renewable energy projects is expected to
further catapult protective relay demand over the next eight years. For
instance, after the earthquake and tsunami in 2011, in Japan, the government
decided to reduce the energy supply gap by augmenting renewable energy generation.
Full Research Report On protective relay market Analysis:
www.grandviewresearch.com/industry-analysis/protective-relay-market
www.grandviewresearch.com/industry-analysis/protective-relay-market
Further key findings from the report suggest:
·
The medium voltage segment
captured over 40% of the total revenue in 2015 and is projected to exhibit a
significant growth at a CAGR of over 5% from 2016 to 2024. This can be
attributed to their extensive usage in the fortification of structures such as
houses, shopping center, hospitals, and warehouses, which require medium
voltage power.
·
Feeder protection application
segment is expected to gain prominence over the forecast period exceeding a
CAGR of 6.0% from 2016 to 2024. This is primarily due to the criticality of the
transmission & distribution networks to safeguard the overhead cables
required for the electricity transmission
·
Assimilation of protective
relays in huge power systems and substations to ensure security &
operational safety of the equipment is projected to drive the demand across the
power sector over the next few years. The power segment accounted for a
significant market share in 2015 capturing over 30% of the entire revenue share
in the same year.
·
Asia Pacific emerged as the
largest and the fastest growing market accounting for more than 30% of the
overall share in 2015. Increasing investments in transmission &
distribution infrastructure in China & India is expected to spur the
protective relay demand in this region.
·
The key purveyors in this
industry comprise Siemens, GE-Alstom, ABB, and Schneider. International players
hold a strong foothold in the market making it difficult for the local
suppliers to compete.
Browse More Reports Of This Category By Grand
View Research At: www.grandviewresearch.com/industry/electronic-devices
Grand View Research has segmented the
global protective relay market on the basis of voltage, application, end-use,
and region:
Protective Relay Voltage
Outlook (Revenue, USD Million; 2014 - 2024)
·
Low
·
Medium
·
High
Protective Relay Application
Outlook (Revenue, USD Million; 2014 - 2024)
·
Feeder Protection
·
Generator Protection
·
Bus-Bar Protection
·
Capacitor Bank Protection
·
Breaker Protection
·
Transformer Protection
·
Others
Protective Relay End-Use
Outlook (Revenue, USD Million; 2014 - 2024)
·
Infrastructure
·
Industrial
·
Government
·
Power
·
Others
Protective Relay Regional
Outlook (Revenue, USD Million; 2014 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
U.K
o
Germany
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa
o
Saudi Arabia
o
Kuwait
o
UAE
o
Bahrain
o
Oman
o
Qatar
Access Full Press Release of this Report: www.grandviewresearch.com/press-release/global-protective-relay-market
About Grand
View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
