Business Description
The Global MV protection relay market was valued at US$ 880.50 Mn in 2017 and is expected to reach US$ 1490.80 Mn by 2026, at a CAGR of 6.80 % during a forecast period.
MV is the medium voltage, it is the term used by the electrical power distribution industry.
Development of transmission & distribution networks, advancement in the existing substations & feeder line protection, growing renewable industry are the factors driving the growth of the global mv protection relay market. Additionally, growing power demand, increasing modification in the Middle Eastern manufacturing industry, increasing demand for electronic devices are the factors that are projected to provide noteworthy opportunities for the growth of the MV protection relay market. Furthermore, a high cost of installation and maintenance is estimated to hamper the growth of the global mv protection relay market.
The objective of the report is to present a comprehensive assessment of the Global MV protection relay market and contains considerate insights, facts, historical data, industry-validated market data and projections with appropriate set of traditions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments by material, type, end-user and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global MV protection relay market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
The digital & numerical relay segment held the large market share in 2017 and is projected to share significant growth in the global mv protection relay market during the forecast period. The segment delivers more benefits over electro-mechanical & static relays. It translates voltage and current to digital forms and procedures the resulted measurement using a microprocessor. The main benefits of digital & numerical relay contain functional flexibility, reliability, speed, accuracy, and capital cost and less maintenance cost. Additionally, growing modernization of substations in the developed nations to confirm continuous power supply with minimum losses is expected to drive the digital & numerical relay market during the forecast period. The digital & numerical relay have the ability to interconnect with other digital equipment in peer-to-peer and also offering accuracy in providing fault data and disturbance record.
The feeder line segment is projected to lead the MV protection relay market during the forecast period. Growing transmission and distribution networks across the globe are resulting in a consistent rise in the number of substations. Additionally, the government of Saudi Arabia also plans to launch a series of projects to renovation the outmoded segments of the power grid and modernize the transmission and distribution network system. The country plans to expend nearly about USD 14.50 billion for the transmission of electricity and nearly 13.5 billion for the distribution lines during the next 10 years. These factors are projected to drive the MV protection relay market.
Asia Pacific is expected to share major contribution in the global MV protection relay market. The growth in the market is attributed to the growing T&D network expansions and industrialization projects in emerging countries such as India and China are expected to boom the MV protection relay market. Increasing demand for electricity is one of the key factors in the MV protection relay market.
The Scope of the Report Global MV Protection Relay Market
Global MV Protection Relay Market, By Type
• Electromechanical & Static Relay
• Digital & Numerical Relay
Global MV Protection Relay Market, By Connected Load
• Feeder Line
• Transformer
• Motor
• Other
Global MV Protection Relay Market, By End User
• Utilities
• Industrial
• Commercial & Institutional
• Renewable
• Marine
Global MV Protection Relay Market, By Geography
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players
• Toshiba Corporation
• Larsen & Toubro
• Woodward
• Eaton
• Siemens
• Schneider Electric
• ABB
• General Electric
• Rockwell
• Powell Industries
• Basler Electric Co.
• Solcon
• Terasaki
• Littelfuse Inc.
• NR Electric
• Mitsubishi Electric Corporation.
About company information-
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