Product Code: GVR-1-68038-265-5
Protective Relay Market Growth & Trends:
The global protective relay market is expected to reach USD 5.09 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.2% from 2023 to 2030. 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 setup & 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 an 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.
Protective Relay Market Report Highlights:
- The medium voltage segment held the largest market share of 45.7% in 2022. The high share is attributed to an increase in the application of medium voltage protective relays in power systems and substations.
- The feeder protection segment dominated the market with the highest revenue share of 28.7% in 2022. This is primarily due to the criticality of the transmission & distribution networks to safeguard the overhead cables required for the electricity transmission
- The power segment dominated the market with the highest revenue share of 31.8% in 2022. Industrial development and the global upsurge in power production capacity are projected to augment the protective relay.
- Asia Pacific dominated the market with the largest revenue share of 31.0% in 2022. North America is expected to grow at a significant CAGR of 5.7% during the forecast period.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.1.1. Voltage
- 1.1.2. Application
- 1.1.3. End use
- 1.1.4. Regional scope
- 1.1.5. Estimates and forecast timeline
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased database
- 1.3.2. GVR's internal database
- 1.3.3. Secondary route of administrations
- 1.3.4. Primary research
- 1.3.5. Details of primary research
- 1.4. Information or Data Analysis
- 1.5. Market Formulation & Validation
- 1.6. Model Details
- 1.7. List of Secondary Sources
- 1.8. List of Primary Sources
- 1.9. Objectives
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Voltage outlook
- 2.2.2. Application outlook
- 2.2.3. End use outlook
- 2.2.4. Regional outlook
- 2.3. Competitive Insights
Chapter 3. Protective Relay Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent market outlook
- 3.1.2. Related/ancillary market outlook
- 3.2. Penetration & Growth Prospect Mapping
- 3.3. Market Dynamics
- 3.3.1. Market driver analysis
- 3.3.2. Market restraint analysis
- 3.4. Protective Relay Market Analysis Tools
- 3.4.1. Industry Analysis - Porter's
- 3.4.1.1. Supplier power
- 3.4.1.2. Buyer power
- 3.4.1.3. Substitution threat
- 3.4.1.4. Threat of new entrant
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Technological landscape
- 3.4.2.3. Economic landscape
Chapter 4. Protective Relay Market: Voltage Estimates & Trend Analysis
- 4.1. Protective Relay Market: Key Takeaways
- 4.2. Protective Relay Market: Movement & Market Share Analysis, 2022 & 2030
- 4.3. Low voltage
- 4.3.1. Low voltage market estimates and forecasts, 2017 to 2030 (USD Million)
- 4.4. Medium voltage
- 4.4.1. Medium voltage market estimates and forecasts, 2017 to 2030 (USD Million)
- 4.5. High voltage
- 4.5.1. High voltage market estimates and forecasts, 2017 to 2030 (USD Million)
Chapter 5. Protective Relay Market: Application Estimates & Trend Analysis
- 5.1. Protective Relay Market: Key Takeaways
- 5.2. Protective Relay Market: Movement & Market Share Analysis, 2022 & 2030
- 5.3. Feeder protection
- 5.3.1. Feeder protection market estimates and forecasts, 2017 to 2030 (USD Million)
- 5.4. Generator protection
- 5.4.1. Generator protection market estimates and forecasts, 2017 to 2030 (USD Million)
- 5.5. Bus-bar protection
- 5.5.1. Bus-bar protection market estimates and forecasts, 2017 to 2030 (USD Million)
- 5.6. Capacitor bank protection
- 5.6.1. Capacitor bank protection market estimates and forecasts, 2017 to 2030 (USD Million)
- 5.7. Transformer protection
- 5.7.1. Transformer protection market estimates and forecasts, 2017 to 2030 (USD Million)
- 5.8. Breaker protection
- 5.8.1. Breaker protection market estimates and forecasts, 2017 to 2030 (USD Million)
- 5.9. Others
- 5.9.1. Others market estimates and forecasts, 2017 to 2030 (USD Million)
Chapter 6. Protective Relay Market: End Use Estimates & Trend Analysis
- 6.1. Protective Relay Market: Key Takeaways
- 6.2. Protective Relay Market: Movement & Market Share Analysis, 2022 & 2030
- 6.3. Infrastructure
- 6.3.1. Infrastructure market estimates and forecasts, 2017 to 2030 (USD Million)
- 6.4. Industrial
- 6.4.1. Industrial market estimates and forecasts, 2017 to 2030 (USD Million)
- 6.5. Government
- 6.5.1. Government market estimates and forecasts, 2017 to 2030 (USD Million)
- 6.6. Power
- 6.6.1. Power market estimates and forecasts, 2017 to 2030 (USD Million)
- 6.7. Others
- 6.7.1. Others market estimates and forecasts, 2017 to 2030 (USD Million)
Chapter 7. Protective Relay Market: Regional Estimates & Trend Analysis
- 7.1. Regional Outlook
- 7.2. Protective Relay Market by Region: Key Takeaway
- 7.3. North America
- 7.3.1. Market estimates and forecasts, 2017 - 2030 (Revenue, USD Million)
- 7.3.2. U.S.
- 7.3.2.1. Market estimates and forecasts, 2017 - 2030 (Revenue, USD Million)
- 7.3.3. Canada
- 7.3.3.1. Market estimates and forecasts, 2017 - 2030 (Revenue, USD Million)
- 7.4. Europe
- 7.4.1. UK
- 7.4.1.1. Market estimates and forecasts, 2017 - 2030 (Revenue, USD Million)
- 7.4.2. Germany
- 7.4.2.1. Market estimates and forecasts, 2017 - 2030 (Revenue, USD Million)
- 7.4.3. France
- 7.4.3.1. Market estimates and forecasts, 2017 - 2030 (Revenue, USD
- 7.5. Asia Pacific
- 7.5.1. Japan
- 7.5.1.1. Market estimates and forecasts, 2017 - 2030 (Revenue, USD Million)
- 7.5.2. China
- 7.5.2.1. Market estimates and forecasts, 2017 - 2030 (Revenue, USD Million)
- 7.5.3. India
- 7.5.3.1. Market estimates and forecasts, 2017 - 2030 (Revenue, USD Million)
- 7.5.4. Australia
- 7.5.4.1. Market estimates and forecasts, 2017 - 2030 (Revenue, USD Million)
- 7.5.5. South Korea
- 7.5.5.1. Market estimates and forecasts, 2017 - 2030 (Revenue, USD Million)
- 7.6. Latin America
- 7.6.1. Brazil
- 7.6.1.1. Market estimates and forecasts, 2017 - 2030 (Revenue, USD Million)
- 7.6.2. Mexico
- 7.6.2.1. Market estimates and forecasts, 2017 - 2030 (Revenue, USD Million)
- 7.7. MEA
- 7.7.1. South Africa
- 7.7.1.1. Market estimates and forecasts, 2017 - 2030 (Revenue, USD Million)
- 7.7.2. Saudi Arabia
- 7.7.2.1. Market estimates and forecasts, 2017 - 2030 (Revenue, USD Million)
- 7.7.3. UAE
- 7.7.3.1. Market estimates and forecasts, 2017 - 2030 (Revenue, USD Million)
Chapter 8. Competitive Landscape
- 8.1. Recent Developments & Impact Analysis, By Key Market Participants
- 8.2. Market Participant Categorization
- 8.2.1. ABB
- 8.2.1.1. Company overview
- 8.2.1.2. Financial performance
- 8.2.1.3. Product benchmarking
- 8.2.1.4. Strategic initiatives
- 8.2.2. Doble Engineering Company
- 8.2.2.1. Company overview
- 8.2.2.2. Financial performance
- 8.2.2.3. Product benchmarking
- 8.2.2.4. Strategic initiatives
- 8.2.3. Eaton
- 8.2.3.1. Company overview
- 8.2.3.2. Financial performance
- 8.2.3.3. Product benchmarking
- 8.2.3.4. Strategic initiatives
- 8.2.4. Fanox
- 8.2.4.1. Company overview
- 8.2.4.2. Financial performance
- 8.2.4.3. Product benchmarking
- 8.2.4.4. Strategic initiatives
- 8.2.5. Mitsubishi Electric Corporation
- 8.2.5.1. Company overview
- 8.2.5.2. Financial performance
- 8.2.5.3. Product benchmarking
- 8.2.5.4. Strategic initiatives
- 8.2.6. General Electric
- 8.2.6.1. Company overview
- 8.2.6.2. Financial performance
- 8.2.6.3. Product benchmarking
- 8.2.6.4. Strategic initiatives
- 8.2.6.5.
- 8.2.7. NR Electric Co., Ltd.
- 8.2.7.1. Company overview
- 8.2.7.2. Financial performance
- 8.2.7.3. Product benchmarking
- 8.2.7.4. Strategic initiatives
- 8.2.8. Seimens
- 8.2.8.1. Company overview
- 8.2.8.2. Financial performance
- 8.2.8.3. Product benchmarking
- 8.2.8.4. Strategic initiatives
- 8.2.9. Schneider Electric
- 8.2.9.1. Company overview
- 8.2.9.2. Financial performance
- 8.2.9.3. Product benchmarking
- 8.2.9.4. Strategic initiatives
- 8.2.10. Schweitzer Engineering Laboratories, Inc.
- 8.2.10.1. Company overview
- 8.2.10.2. Financial performance
- 8.2.10.3. Product benchmarking
- 8.2.10.4. Strategic initiatives
- 8.2.11. TIEPCO
- 8.2.11.1. Company overview
- 8.2.11.2. Financial performance
- 8.2.11.3. Product benchmarking
- 8.2.11.4. Strategic initiatives
- 8.2.12. ZIV
- 8.2.12.1. Company overview
- 8.2.12.2. Financial performance
- 8.2.12.3. Product benchmarking
- 8.2.12.4. Strategic initiatives
- 8.2.13. ZIV TOSHIBA CORPORATION
- 8.2.13.1. Company overview
- 8.2.13.2. Financial performance
- 8.2.13.3. Product benchmarking
- 8.2.13.4. Strategic initiatives