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Medium Voltage Mv Protection Relay Market

Medium Voltage (MV) Protection Relay Market Forecasts to 2028 – Global Analysis By Connected Load (Feeder Line, Motors), Type (Electromechanical & Static Relay, Digital & Numerical Relay), End User (Renewable, Marine) and By Geography

4.1 (16 reviews)
Published: December 2021 ID: SMRC21218
4.1 (16 reviews)
Published: December 2021 ID: SMRC21218

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Medium Voltage (MV) Protection Relay Market is accounted for $954.97 million in 2020 and is expected to reach $1,677.98 million by 2028 growing at a CAGR of 7.3% during the forecast period. Expansion of transmission & distribution networks and upgrade of existing substations and feeder line protection are the major factors propelling the market growth. However, the lack of investments from governments in grid stability is hampering market growth.

A protective relay is a relay device designed to trip a circuit breaker when a fault is detected and it enables safe operation in an electrical circuit. The primary function of protective relays is to trip a circuit breaker when a fault is detected. It may react to the magnitude of a quantity such as current or voltage. Protection relays may use shaded-pole, magnets, operating and restraint coils, arrays of induction disks, telephone-relay contacts, phase-shifting networks, and solenoid-type operators.

Based on the end user, the industrial segment is estimated to have a lucrative growth due to rising demand for protection relays in industries to avoid damages to costly instruments caused by overload, over temperature.

By geography, the Asia Pacific is going to have a lucrative growth during the forecast period due to the growing need for solar projects, rising smart grid demands, and increasing industrialization and urbanization. India and China accounted for high global shares in transmission and distribution infrastructure, and as a result, these countries are expected to be the major drivers for the market.

Some of the key players profiled in the Medium Voltage (MV) Protection Relay Market include ABB, Eaton, Fanox, General Electric, Larsen and Toubro, Mitsubishi Electric, Powell Industries, Rockwell, Schneider Electric, Schweitzer Engineering Laboratories, Siemens, Solcon Industries, Terasaki, Toshiba, and Woodward.

Report Coverage

Details

Published Year:

2021

Estimated Market Size in 2020:

USD 954.97 million

Estimated Period:

2020

Compound Annual Growth Rate (CAGR)  from 2020 to 2028:

7.3%

Predicted 2028 Value:

USD 1,677.98 million

Forecast Years:

2021-2028

Tables, Graphs & Figures

123

Chapters Covered:

Connected Load, Type, End User and Region

Core Drivers and Opportunities:

  • Growth of the renewable industry
  • Expansion of transmission & distribution networks

Restraining Factors & Market Threats:

  • Lack of investments from governments in grid stability


 Connected Loads Covered:
• Feeder Line
• Motors
• Transformers & Control System

Types Covered:
• Electromechanical & Static Relay
• Digital & Numerical Relay

End Users Covered:
• Utilities  
• Industrial 
• Commercial & Institutional 
• Renewable 
• Marine 
• Railways and Metros 

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Key Questions Answered In The Report

The Global Medium Voltage (MV) Protection Relay Market is majorly driven by the expansion of transmission & distribution networks and upgrade of existing substations and feeder line protection.

The industrial segment is growing at the highest CAGR due to the rising demand for protection relays in industries to avoid damages to expensive instruments caused by temperature.

Asia Pacific dominated with a significant market share due to the increasing T&D network expansions and industrialization projects.

Asia Pacific market is growing at the highest CAGR due to the rising need for solar projects, increasing smart grid demands, and growing industrialization and urbanization.

Key players in Medium Voltage (MV) Protection Relay Market include ABB, Eaton, Fanox, General Electric, Larsen and Toubro, Mitsubishi Electric, Powell Industries, Rockwell, Schneider Electric, Schweitzer Engineering Laboratories, Siemens, Solcon Industries, Terasaki, Toshiba, and Woodward.

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