Protective Relay Market Report: Trends, Forecast and Competitive Analysis to 2030

Protective Relay Trends and Forecast

The future of the global protective relay market looks promising with opportunities in the power generation and distribution, industrial equipment & system, and railway markets. The global protective relay market is expected to reach an estimated $3.1 billion by 2030 with a CAGR of 4.1% from 2024 to 2030. The major drivers for this market are growing number of transmission grids, increasing need for power supplies ,and rising concern for electrical safety in industrial and commercial setting.

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Protective Relay by Segment

The study includes a forecast for the global protective relay by type, voltage, application, end use, and region.

Protective Relay Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Electromagnetic Relays
• Solid-State Relays
• Microprocessor Relays
• Others

Protective Relay Market by Voltage [Shipment Analysis by Value from 2018 to 2030]:

• High
• Medium
• Low

Protective Relay Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Feeder Protection
• Transformer Protection
• Motors Protection
• Generators Protection
• Busbar Protection
• Others

Protective Relay Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Power Generation and Distribution
• Industrial Equipments and Systems
• Railways
• Others

Protective Relay Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Protective Relay Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies protective relay companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the protective relay companies profiled in this report include-

• ABB
• Basler Electric
• Bender
• Eaton
• Fanox Electronics
• General Electric
• Littelfuse
• Mitsubishi Electric
• NR Electric
• Schneider Electric

Protective Relay Market Insights

Lucintel forecast that feeder is expected to witness highest growth over the forecast period due to its increasing need to enable consistent and reliable supply of power, particularly in critical infrastructure like hospitals, data centers, and industrial plants.

Power generation and distribution will remain the largest segment due to increasing use of modern safeguard relays with features like communication capabilities and remote monitoring in digitally based power distribution networks.

APAC is expected to witness highest growth over the forecast period due to increasing investment in renewable energy sector, rapid modernized grid infrastructure, and continous urbanization in the region.

Features of the Global Protective Relay Market

Market Size Estimates: Protective Relay Market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Protective Relay Market size by various segments, such as by type, voltage, application, end use, and region. in terms of value ($B).

Regional Analysis: Protective Relay Market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, voltages, applications, end uses, and region.s for the protective relay market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the protective relay market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1. What is the protective relay market size?

Answer: The global protective relay market is expected to reach an estimated $3.1 billion by 2030.

Q.2. What is the growth forecast for protective relay market?

Answer: The global protective relay market is expected to grow with a CAGR of 4.1% from 2024 to 2030.

Q.3. What are the major drivers influencing the growth of the protective relay market?

Answer: The major drivers for this market are growing number of transmission grids, increasing need for power supplies ,and rising concern for electrical safety in industrial and commercial setting.

Q.4. What are the major segments for protective relay market?

Answer: The future of the protective relay market looks promising with opportunities in the power generation and distribution, industrial equipment & system, and railway markets.

Q.5. Who are the key protective relay market companies?

Answer: Some of the key protective relay companies are as follows:

• ABB
• Basler Electric
• Bender
• Eaton
• Fanox Electronics
• General Electric
• Littelfuse
• Mitsubishi Electric
• NR Electric
• Schneider Electric

Q.6. Which protective relay market segment will be the largest in future?

Answer: Lucintel forecast that feeder is expected to witness highest growth over the forecast period due to its increasing need to enable consistent and reliable supply of power, particularly in critical infrastructure like hospitals, data centers, and industrial plants.

Q.7. In protective relay market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to increasing investment in renewable energy sector, rapid modernized grid infrastructure, and continous urbanization in the region.

Q.8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the protective relay market by type (electromagnetic relays, solid-state relays, microprocessor relays, and others), voltage (high, medium, and low), application (feeder protection, transformer protection, motors protection, generators protection, busbar protection, and others), end use industry (power generation and distribution, industrial equipments and systems, railways, and others), and region. (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?