Global Protective Relay Market Is Expected to Witness a Brisk Growth during the Forecast Period

Mourya
Mourya
The report “Global Protective Relay Market”: By Voltage (Low-Voltage Protective Relay, Medium-Voltage Protective Relay and High-Voltage Protective Relay); By Application (Motor Protection, Transformer Protection, Transmission Line, Feeder Protection and others); By End-User (Industries, Utilities and Others); & By Geography - Forecast (2018-2024). Global Protective Relay Market size is projected to reach $XX Billion by the end of 2024 with a CAGR of XX%. Download a free sample report @ https://www.envisioninteligence.com/industry-report/global-protective-relay-market/ Feeder Protection is expected to witness the largest market share during the forecast period Based on Application, the protective relay market was segmented into motor protection, transformer protects, transmission line, feeder protection and others. Among them feeder protection has the largest market because the protective relays are majorly used to protect the feeders in the switch yards by transmission and distribution companies. The growing transmission and distribution networks across the globe will result in consistent increase in number of substations which leads to increase in demand for feeder protection relays. As per the Global Protective Relay Market analysis, Utilities segment is projected to dominate the market growth during the forecast period On the basis of End-User, the protective relay market was segmented into industries, utilities, marine, renewable and others. Among them utilities segment has the largest market owing to increase in usage of protective relays in utilities. As the utilities around the world continue to expand their transmission and distribution networks, the adoption of protective relays in industries also increase rapidly which will leads to the growth of the market. Asia-Pacific Protective Relays market Share is expected to witness largest market growth during the forecast period The Asia Pacific is the fastest growing market for protective relays with China leading the charge owing to growing adoption of protective relays in electronic applications. North America has the largest market share owing to growing adoption of the automated process among the end-user industries. Major companies include: General Electric Mitsubishi Electric Corporation Siemens AG Basler Electric