Medium Voltage Protection Relay Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Description
Medium Voltage Protection Relay Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Medium Voltage Protection Relay Market
The medium voltage protection relay market size was valued at USD 0.99 billion in 2020, and the market is now projected to grow from USD 1.07 billion in 2021 to USD 1.59 billion by 2028, exhibiting a CAGR of 5.82% during the forecast period of 2020-2028.
Government has put restrictions on social gatherings, events and moving out from home which make the people homesick. Numerous companies are encountering hurdles due to covid pandemic as the outbreak situation has curtailed production and supply chain which has hindered the market switched to treating covid patients as priority over the other procedures which led the medium voltage protection relay market growth. Additionally, manpower shortages affected manufacturing plants and slowed production due to movement restrictions and lockdowns in several regions. Stopped providing on-site maintenance and installations market growth sputtered amid the pandemic. Production facilities throughout the nations have been hindered by the abrupt lockdown. The pandemic has also had a negative impact on facial recognition door lock manufacturing and production facilities. The disruption in the supply chain and the decreased availability of labor, staff, and resources are the causes of this.
The demand for protection relays is being driven by the growing need to replace conventional relays during forecast period. In electric system applications, conventional relays are typically used to switch to current or voltages, which is typically accomplished by a straightforward on-off switch. However, a number of industrial applications and processes operate at higher voltage levels, which may result in unintended failures or accidents. Furthermore, these relays have a shorter lifespan since they deteriorate with regular use. As a result, many manufacturers and end users concentrate on automated relays that are suitable for the digital era and guarantee the system's safe and dependable operation.
Medium voltage protection relays' dependability is expected to fuel medium voltage protection relay market growth during forecast period. One of the most crucial components in the construction and functioning of an electric power system are medium voltage protection relays, which keep the system operating normally by preventing electric failure, which can be brought on by equipment failure or unexpected outages. The market expansion for medium voltage protection relays is anticipated to be driven by the usage of protection relays in a variety of electrical applications, including motors, transformers, generators, and others, which are typically imposed on electrically stressed acts as the major requirement to execute a reliable operation.
Comprehensive Analysis of Medium Voltage Protection Relay Market
The medium voltage protection relay market and power & energy industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the pharmacy benefit management industry. These segmentations are methodically segregated by types, Technology, by application and by end users. The Type segmentations include Self-Powered Relays, Feeder & Generator Relays, Recloser Control Relays, and Others, By Technology segmentations include Electromechanical & Static Relays and Digital & Numerical Relays, By Application segmentations include Generator, Transformer, Transmission Line, Bus Bar, Feeder, Motor, and Others, By End-user segmentations include Utility, Industrial, Railways, and Others.
The Asia Pacific region lead the medium voltage protection relay market by benefitting a market size of USD 0.36 billion in 2020 due to growing need to replace conventional relays and medium voltage protection relays' dependability.
The top players in the market play a crucial role in the power & energy industry assuring industrial prospectus growth and setting market standards. These prominent key industry players include, ABB (Switzerland), Siemens (Germany), Schweitzer Engineering Laboratories (U.S.), Mitsubishi Electric Corporation (Japan), ZIV APLICACIONES Y TECNOLOGIA (Spain), Fanox Electronic (Spain), Orion Italia (Italy), Ashida Electronics (India) and Rockwell Automation, Inc. (U.S.) these market players provide a level-playing competitive environment across the globe.
In August 2020, Schneider Electric finalized the acquisition of Larsen & Toubro Electrical and Automation and Schneider Electric India's Low Voltage and Industrial Automation Products businesses. Temasek is a multinational investment firm with its headquarters located in Singapore, and Schneider Electric owns 65 percent of the combined corporation.
Segmentation Table
ATTRIBUTE DETAILS
Study Period2017-2028
Base Year2020
Estimated Year 2021
Forecast Period2021-2028
Historical Period2017-2019
UnitValue (USD billion)
SegmentationBy Type, Technology, Application, End-user, and Region
SegmentationBy Type
Self-Powered Relays
Feeder & Generator Relays
Recloser Control Relays
Others
By Technology
Electromechanical & Static Relays
Digital & Numerical Relays
By Application
Generator
Transformer
Transmission Line
Bus Bar
Feeder
Motor
Others
By End-user
Utility
Industrial
Railways
Others
By Region
North America (By Type, Technology, Application, End-user, and Country)
U.S.
Canada
Europe (By Type, Technology, Application, End-user, and Country)
U.K.
Germany
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific (By Type, Technology, Application, End-user, and Country)
China
Japan
India
Australia
Southeast Asia
Rest of Asia Pacific
Latin America (By Type, Technology, Application, End-user, and Country)
Brazil
Mexico
Rest of Latin America
Middle East & Africa (By Type, Technology, Application, End-user, and Country)
GCC
South Africa
Rest of the Middle East & Africa
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Table of Contents
264 Pages
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions & Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Insight on Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porter Five Forces Analysis
- 5. Qualitative Analysis – Impact of COVID-19
- 5.1. Impact of COVID-19 on the Medium Voltage Protection Relay Market
- 5.2. Steps Taken by the Government to Overcome the Impact
- 5.3. Key Developments in the Industry in Response to COVID-19
- 5.4. Potential Opportunities and Challenges due to COVID-19 Outbreak
- 6. Global Medium Voltage Protection Relay Market (USD Billion) Analysis, Insights, and Forecast, 2017-2028
- 6.1. Key Findings
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. Self-Powered Relays
- 6.2.2. Feeder & Generator Relays
- 6.2.3. Recloser Control Relays
- 6.2.4. Others
- 6.3. Market Analysis, Insights and Forecast – By Technology
- 6.3.1. Electromechanical & Static Relays
- 6.3.2. Digital & Numerical Relays
- 6.4. Market Analysis, Insights and Forecast – By Application
- 6.4.1. Generator
- 6.4.2. Transformer
- 6.4.3. Transmission Line
- 6.4.4. Bus Bar
- 6.4.5. Feeder
- 6.4.6. Motor
- 6.4.7. Others
- 6.5. Market Analysis, Insights and Forecast – By End-User
- 6.5.1. Utilities
- 6.5.2. Industrial
- 6.5.3. Railways
- 6.5.4. Others
- 6.6. Market Analysis, Insights and Forecast – By Region
- 6.6.1. North America
- 6.6.2. Europe
- 6.6.3. Asia Pacific
- 6.6.4. Latin America
- 6.6.5. Middle East & Africa
- 7. North America Medium Voltage Protection Relay Market (USD Billion) Analysis, Insights, and Forecast, 2017-2028
- 7.1. Key Findings
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. Self-Powered Relays
- 7.2.2. Feeder & Generator Relays
- 7.2.3. Recloser Control Relays
- 7.2.4. Others
- 7.3. Market Analysis, Insights and Forecast – By Technology
- 7.3.1. Electromechanical & Static Relays
- 7.3.2. Digital & Numerical Relays
- 7.4. Market Analysis, Insights and Forecast – By Application
- 7.4.1. Generator
- 7.4.2. Transformer
- 7.4.3. Transmission Line
- 7.4.4. Bus Bar
- 7.4.5. Feeder
- 7.4.6. Motor
- 7.4.7. Others
- 7.5. Market Analysis, Insights and Forecast – By End-User
- 7.5.1. Utilities
- 7.5.2. Industrial
- 7.5.3. Railways
- 7.5.4. Others
- 7.6. Market Analysis, Insights and Forecast – By Country
- 7.6.1. US
- 7.6.2. Canada
- 8. Europe Medium Voltage Protection Relay Market (USD Billion) Analysis, Insights, and Forecast, 2017-2028
- 8.1. Key Findings
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. Self-Powered Relays
- 8.2.2. Feeder & Generator Relays
- 8.2.3. Recloser Control Relays
- 8.2.4. Others
- 8.3. Market Analysis, Insights and Forecast – By Technology
- 8.3.1. Electromechanical & Static Relays
- 8.3.2. Digital & Numerical Relays
- 8.4. Market Analysis, Insights and Forecast – By Application
- 8.4.1. Generator
- 8.4.2. Transformer
- 8.4.3. Transmission Line
- 8.4.4. Bus Bar
- 8.4.5. Feeder
- 8.4.6. Motor
- 8.4.7. Others
- 8.5. Market Analysis, Insights and Forecast – By End-User
- 8.5.1. Utilities
- 8.5.2. Industrial
- 8.5.3. Railways
- 8.5.4. Others
- 8.6. Market Analysis, Insights and Forecast – By Country
- 8.6.1. UK
- 8.6.2. Germany
- 8.6.3. France
- 8.6.4. Italy
- 8.6.5. Spain
- 8.6.6. Russia
- 8.6.7. Rest of Europe
- 9. Asia Pacific Medium Voltage Protection Relay Market (USD Billion) Analysis, Insights, and Forecast, 2017-2028
- 9.1. Key Findings
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. Self-Powered Relays
- 9.2.2. Feeder & Generator Relays
- 9.2.3. Recloser Control Relays
- 9.2.4. Others
- 9.3. Market Analysis, Insights and Forecast – By Technology
- 9.3.1. Electromechanical & Static Relays
- 9.3.2. Digital & Numerical Relays
- 9.4. Market Analysis, Insights and Forecast – By Application
- 9.4.1. Generator
- 9.4.2. Transformer
- 9.4.3. Transmission Line
- 9.4.4. Bus Bar
- 9.4.5. Feeder
- 9.4.6. Motor
- 9.4.7. Others
- 9.5. Market Analysis, Insights and Forecast – By End-User
- 9.5.1. Utilities
- 9.5.2. Industrial
- 9.5.3. Railways
- 9.5.4. Others
- 9.6. Market Analysis, Insights and Forecast – By Country
- 9.6.1. China
- 9.6.2. Japan
- 9.6.3. India
- 9.6.4. Australia
- 9.6.5. Southeast Asia
- 9.6.6. Rest of Asia Pacific
- 10. Latin America Medium Voltage Protection Relay Market (USD Billion) Analysis, Insights, and Forecast, 2017-2028
- 10.1. Key Findings
- 10.2. Market Analysis, Insights and Forecast – By Type
- 10.2.1. Self-Powered Relays
- 10.2.2. Feeder & Generator Relays
- 10.2.3. Recloser Control Relays
- 10.2.4. Others
- 10.3. Market Analysis, Insights and Forecast – By Technology
- 10.3.1. Electromechanical & Static Relays
- 10.3.2. Digital & Numerical Relays
- 10.4. Market Analysis, Insights and Forecast – By Application
- 10.4.1. Generator
- 10.4.2. Transformer
- 10.4.3. Transmission Line
- 10.4.4. Bus Bar
- 10.4.5. Feeder
- 10.4.6. Motor
- 10.4.7. Others
- 10.5. Market Analysis, Insights and Forecast – By End-User
- 10.5.1. Utilities
- 10.5.2. Industrial
- 10.5.3. Railways
- 10.5.4. Others
- 10.6. Market Analysis, Insights and Forecast – By Country
- 10.6.1. Brazil
- 10.6.2. Mexico
- 10.6.3. Rest of Latin America
- 11. Middle East & Africa Medium Voltage Protection Relay Market (USD Billion) Analysis, Insights, and Forecast, 2017-2028
- 11.1. Key Findings
- 11.2. Market Analysis, Insights and Forecast – By Type
- 11.2.1. Self-Powered Relays
- 11.2.2. Feeder & Generator Relays
- 11.2.3. Recloser Control Relays
- 11.2.4. Others
- 11.3. Market Analysis, Insights and Forecast – By Technology
- 11.3.1. Electromechanical & Static Relays
- 11.3.2. Digital & Numerical Relays
- 11.4. Market Analysis, Insights and Forecast – By Application
- 11.4.1. Generator
- 11.4.2. Transformer
- 11.4.3. Transmission Line
- 11.4.4. Bus Bar
- 11.4.5. Feeder
- 11.4.6. Motor
- 11.4.7. Others
- 11.5. Market Analysis, Insights and Forecast – By End-User
- 11.5.1. Utilities
- 11.5.2. Industrial
- 11.5.3. Railways
- 11.5.4. Others
- 11.6. Market Analysis, Insights and Forecast – By Country
- 11.6.1. GCC
- 11.6.2. South Africa
- 11.6.3. Rest of Middle East & Africa
- 12. Competitive Analysis
- 12.1. Company Market Share Analysis, 2020
- 12.2. Company Profiles
- 12.2.1. ABB
- 12.2.1.1. Business Overview
- 12.2.1.2. Product & Service Offering
- 12.2.1.3. Recent Developments
- 12.2.1.4. Financials
- 12.2.2. General Electric
- 12.2.2.1. Business Overview
- 12.2.2.2. Product & Service Offering
- 12.2.2.3. Recent Developments
- 12.2.2.4. Financials
- 12.2.3. Siemens
- 12.2.3.1. Business Overview
- 12.2.3.2. Product & Service Offering
- 12.2.3.3. Recent Developments
- 12.2.3.4. Financials
- 12.2.4. Schneider Electric
- 12.2.4.1. Business Overview
- 12.2.4.2. Product & Service Offering
- 12.2.4.3. Recent Developments
- 12.2.4.4. Financials
- 12.2.5. Schweitzer Engineering Laboratories
- 12.2.5.1. Business Overview
- 12.2.5.2. Product & Service Offering
- 12.2.5.3. Recent Developments
- 12.2.5.4. Financials
- 12.2.6. EATON
- 12.2.6.1. Business Overview
- 12.2.6.2. Product & Service Offering
- 12.2.6.3. Recent Developments
- 12.2.6.4. Financials
- 12.2.7. Mitsubishi Electric
- 12.2.7.1. Business Overview
- 12.2.7.2. Product & Service Offering
- 12.2.7.3. Recent Developments
- 12.2.7.4. Financials
- 12.2.8. TOSHIBA
- 12.2.8.1. Business Overview
- 12.2.8.2. Product & Service Offering
- 12.2.8.3. Recent Developments
- 12.2.8.4. Financials
- 12.2.9. ZIV APLICACIONES Y TECNOLOGIA
- 12.2.9.1. Business Overview
- 12.2.9.2. Product & Service Offering
- 12.2.9.3. Recent Developments
- 12.2.9.4. Financials
- 12.2.10. Basler Electric
- 12.2.10.1. Business Overview
- 12.2.10.2. Product & Service Offering
- 12.2.10.3. Recent Developments
- 12.2.10.4. Financials
- 12.2.11. Fanox Electronic
- 12.2.11.1. Business Overview
- 12.2.11.2. Product & Service Offering
- 12.2.11.3. Recent Developments
- 12.2.11.4. Financials
- 12.2.12. Orion Italia
- 12.2.12.1. Business Overview
- 12.2.12.2. Product & Service Offering
- 12.2.12.3. Recent Developments
- 12.2.12.4. Financials
- 12.2.13. Woodward, Inc.
- 12.2.13.1. Business Overview
- 12.2.13.2. Product & Service Offering
- 12.2.13.3. Recent Developments
- 12.2.13.4. Financials
- 12.2.14. Ashida Electronics
- 12.2.14.1. Business Overview
- 12.2.14.2. Product & Service Offering
- 12.2.14.3. Recent Developments
- 12.2.14.4. Financials
- 12.2.15. Rockwell Automation, Inc.
- 12.2.15.1. Business Overview
- 12.2.15.2. Product & Service Offering
- 12.2.15.3. Recent Developments
- 12.2.15.4. Financials
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