Protective Relay

Protective Relay

Global Protective Relays Market to Reach $2.8 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Protective Relays estimated at US$1.9 Billion in the year 2020, is projected to reach a revised size of US$2.8 Billion by 2027, growing at a CAGR of 5.2% over the analysis period 2020-2027. Low, one of the segments analyzed in the report, is projected to record a 5.8% CAGR and reach US$1.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Medium segment is readjusted to a revised 5% CAGR for the next 7-year period.

The U.S. Market is Estimated at $534.6 Million, While China is Forecast to Grow at 8.8% CAGR

The Protective Relays market in the U.S. is estimated at US$534.6 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$567.9 Million by the year 2027 trailing a CAGR of 8.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 4.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$363.5 Million by the year 2027.

High Segment to Record 4.5% CAGR

In the global High segment, USA, Canada, Japan, China and Europe will drive the 4.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$427.7 Million in the year 2020 will reach a projected size of US$572.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 4.9% CAGR through the analysis period.

Select Competitors (Total 41 Featured) -

• ABB Group
• Basler Electric Company
• Eaton Corporation PLC
• General Electric Company
• Littelfuse, Inc.
• Mitsubishi Electric Corporation
• NR Electric Co., Ltd.
• Schneider Electric SA
• Schweitzer Engineering Laboratories
• Siemens AG
• Toshiba Corporation

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