Million Insights
Market Research Released A New Research Report On Global Protective Relay
Market - Forecast Up To 2025. Report Provide Overview Of Top Key Players, Share
Analysis, Size, Stake, Progress, Trends And Their Strategic Profiling In The
Market, Comprehensively Analyzing Their Core Competencies, And Drawing A
Competitive Landscape For The Market.
Pune, India - Protective Relay Market was valued
at $2590.1 million and is expected to grow at CAGR of more than 5% over the
forecast period. Increase in number of power and infrastructure projects in the
Asia-Pacific region along with increased investments in the T and D network
worldwide is considered as the reason for the rise in the demand of protective
relays.
"Asia Pacific
expected to witness highest adoption over the forecast period"
Asia Pacific region accounted for highest market share and
about 30% of the total revenue in the year 2015. Extensive investments in the
modernization of infrastructure along with renewable sector are the major
factors that are expected to drive the demand of protective relays over the
forecast period.
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visit @ https://www.millioninsights.com/industry-reports/protective-relay-market/request-sample
Power Sector is forecasted to remain the highest and most
rapidly growing end-use segment with CAGR of over 5% from 2016-2024. Improved
rate of industrialization along with upgradation in the capacity to produce
power globally has resulted in growth for demand of relays. Other major factors
such as the increasing population and increasing per capita income due to
higher development rates has raised the level of electricity consumption in the
Asia-Pacific region.
"Medium voltage
accounted for highest market share in 2015"
In the year 2015 medium voltage sector consumed over 40% of
the total market share. Increase in application of protective relays in power
substations and systems is the reason for such high consumption. The demand for
infrastructure and electricity is increasing in the nations such as UAE, Japan,
Saudi Arabia, China and India due to rapid increase in the population
relocation. Hence the increase in demand for electricity is expected to drive
the market over the next 8 years.
"Criticality of
protection of cables & lines expected to drive demand for feeder
protection"
Feeder protection segment accounted for over 20% of the
total revenue in the year 2015. The increasing need of protective relays used
to protect the power transmission lines is estimated to boost the demand of
protective relays over the next few years.
Chances of failure in the power transmission lines are more
as compared to other factors due to their attributes such as length which is
excessive to operate in open environment. This the reason lines and cables
assembly needs dedicated protection that is promptly provided by protection
relays.
To Browse Complete
Report visit @ https://www.millioninsights.com/industry-reports/protective-relay-market
Market Segment:
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
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