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MV Protection Relay Market by Type (Electromechanical & Static Relay, Digital & Numerical Relay), Connected Load (Feeder Lines, Transformers, and Motors), End-User (Utilities, Industrial, and Commercial & Institutional) & Region - Global Forecast to 2023

MV Protection Relay Market by Type (Electromechanical & Static Relay, Digital & Numerical Relay), Connected Load (Feeder Lines, Transformers, and Motors), End-User (Utilities, Industrial, and Commercial & Institutional) & Region - Global Forecast to 2023

“The MV protection relay market is projected to grow at a CAGR of 5.33%, from 2018 to 2023.”
The MV protection relay market is projected to reach USD 1,115 million by 2023, from an estimated USD 860 million in 2018, at a CAGR of 5.33%. This can be attributed to the growth of the renewable industry and expansion of transmission & distribution (T&D) networks. Increasing competition from the unorganized sector and lack of investments by governments in grid stability can hinder the growth of the market.

“The digital & numerical relay segment is expected to dominate the MV protection relay market from 2018 to 2023.”
The digital & numerical relay segment held the largest market share in 2017 and is estimated to be the fastest growing segment during the forecast period. The digital & numerical relay segment provides more advantages over electro-mechanical & static relays. It converts voltage and current to digital forms and processes the resulted measurement using a microprocessor. The primary advantages of digital & numerical relay include functional flexibility, reliability, speed, accuracy, and capital cost and maintenance cost savings.

“Industrial segment is expected to be the fastest growing segment in MV protection relay market during the forecast period.”
The industrial segment is expected to grow at the fastest rate between 2018 and 2023. Industrial segment includes oil & gas, chemical & pharmaceutical, metals & mining, and others. MV protection relays are used in industries to prevent damages to expensive instruments caused by overload, over temperature, overcurrent, jams and undercurrent, high resistance winding faults, current and voltage unbalance, phase loss, and phase reverse. Asia Pacific is the largest consumer of industrial protection relays with construction spending increasing in countries such as India, China, and Japan. For instance, the Indian government is focusing extensively on developing infrastructure projects to boost its economic growth. Few of these infrastructure projects include Charanka Solar Park, Bharatmala Project, Gujarat-Gorakhpur gas pipeline, and the highest bridge in the world on the river Chenab. This is likely to create a demand for MV protection relays in Asia Pacific.

“Asia Pacific: The fastest growing market for MV Protection Relay.”
Asia Pacific is expected to be the largest market for MV protection relays in 2023 and is projected to grow at the highest CAGR, during the forecast period. Increasing T&D network expansions and industrialization projects in emerging countries such as India and China are some of the key factors responsible for the growth of the MV protection relay market. Moreover, as per IEEMA (Indian Electrical and Electronics Manufacturers Association), electricity generation capacity is expected to increase from 200 GW in 2010 to over 800 GW by 2032. India is undertaking a lot of smart grid and substation projects to fulfil the growing demand for energy. This would create a demand for MV protection relays in the region.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 60%, Tier 2- 27%, and Tier 3- 13%
By Designation: C-Level- 35%, Director Level- 25%, and Others- 40%
By Region: North America- 40%, Asia Pacific- 21%, Europe- 15%, Middle East & Africa- 13%, and South America- 11%

Note: Others includes product engineers, product specialists, and engineering leads.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2017. Tier 1: >USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: <USD 500 million
The leading players in the MV protection relay market include ABB (Switzerland), General Electric (US), Schneider Electric (France), Siemens (Germany), and SEL (US).

Research Coverage:
The report defines, describes, and forecasts the global MV protection relay market by type, connected load, end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the MV protection relay market.

Key Benefits of Buying the Report
The report will provide the market leaders/new entrants in this market information on the closest approximations of the revenue numbers for the overall MV protection relay market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.


  • INTRODUCTION
    • OBJECTIVES OF THE STUDY
    • DEFINITION
    • MARKET SCOPE
      • MARKET SEGMENTATION
      • REGIONAL SCOPE
    • YEARS CONSIDERED FOR THE STUDY
    • CURRENCY
    • LIMITATIONS
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • MARKET BREAKDOWN & DATA TRIANGULATION
    • RESEARCH ASSUMPTIONS
  • EXECUTIVE SUMMARY
    • Table MV PROTECTION RELAY MARKET SNAPSHOT
  • PREMIUM INSIGHTS
    • ATTRACTIVE OPPORTUNITIES IN THE MV PROTECTION RELAY MARKET, 2018-2023
    • MV PROTECTION RELAY MARKET, BY TYPE
    • MV PROTECTION RELAY MARKET, BY CONNECTED LOAD
    • MV PROTECTION RELAY MARKET, BY END-USER
    • ASIA PACIFIC MV PROTECTION RELAY MARKET
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
    • DRIVERS
      • GROWTH OF THE RENEWABLE INDUSTRY
      • EXPANSION OF TRANSMISSION & DISTRIBUTION NETWORKS
        • Table TRANSMISSION & DISTRIBUTION INFRASTRUCTURE EXPANSION PLANS
      • UPGRADE OF EXISTING SUBSTATIONS AND FEEDER LINE PROTECTION
    • RESTRAINTS
      • INCREASING COMPETITION FROM THE UNORGANIZED SECTOR
      • LACK OF INVESTMENTS FROM GOVERNMENTS IN GRID STABILITY
    • OPPORTUNITIES
      • GROWING POWER DEMAND
      • GROWING DEMAND FOR ELECTRONIC DEVICES
      • CHANGING FACE OF THE MIDDLE EASTERN MANUFACTURING INDUSTRY
    • CHALLENGES
      • DELAYS IN GRID EXPANSION PROJECTS
      • CYBERSECURITY ISSUES FOR PROTECTION RELAYS
  • MV PROTECTION RELAY MARKET, BY TYPE
    • INTRODUCTION
      • Table MV PROTECTION RELAY MARKET SIZE, BY TYPE, 2016-2023 (USD MILLION)
    • ELECTROMECHANICAL & STATIC RELAY
      • ASIA PACIFIC IS PROJECTED TO BE THE LARGEST MARKET FOR ELECTROMECHANICAL & STATIC RELAYS
        • Table ELECTROMECHANICAL & STATIC RELAY: MV PROTECTION RELAY MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
    • DIGITAL & NUMERICAL RELAY
      • ASIA PACIFIC IS PROJECTED TO BE THE FASTEST AND THE LARGEST MARKET FOR DIGITAL & NUMERICAL RELAY
        • Table DIGITAL & NUMERICAL RELAY: MV PROTECTION RELAY MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
  • MV PROTECTION RELAY MARKET, BY CONNECTED LOAD
    • INTRODUCTION
      • Table MV PROTECTION RELAY MARKET SIZE, BY CONNECTED LOAD, 2016-2023 (USD MILLION)
    • FEEDER LINE
      • RISING INVESTMENT IN DISTRIBUTION NETWORK IS EXPECTED TO DRIVE THE DEMAND FOR MV PROTECTION RELAY IN FEEDER LINE
        • Table FEEDER LINE: MV PROTECTION RELAY MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
    • TRANSFORMERS
      • NORTH AMERICA PROJECTED TO BE SECOND LARGEST MARKET FOR MV PROTECTION RELAYS IN TRANSFORMERS
        • Table TRANSFORMER: MV PROTECTION RELAY MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
    • MOTORS
      • INCREASING INDUSTRIALIZATION IS THE MAJOR DRIVER FOR THE GROWTH OF MV PROTECTION RELAY IN MOTOR
        • Table MOTORS: MV PROTECTION RELAY MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
    • OTHERS
      • Table OTHERS: MV PROTECTION RELAY MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
  • MV PROTECTION RELAY MARKET, BY END-USER
    • INTRODUCTION
      • Table MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
    • UTILITIES
      • Table UTILITIES: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
      • Table UTILITIES: MV PROTECTION RELAY MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
      • POWER GENERATION
        • Table POWER GENERATION: MV PROTECTION RELAY MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
      • POWER DISTRIBUTION
        • Table POWER DISTRIBUTION: MV PROTECTION RELAY MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
    • INDUSTRIAL
      • Table INDUSTRIAL: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
      • Table INDUSTRIAL: MV PROTECTION RELAY MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
      • OIL & GAS
        • Table OIL & GAS: MV PROTECTION RELAY MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
      • METAL & MINING
        • Table METAL & MINING: MV PROTECTION RELAY MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
      • CHEMICAL & PHARMACEUTICAL
        • Table CHEMICAL & PHARMACEUTICAL: MV PROTECTION RELAY MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
      • OTHERS
        • Table OTHERS: MV PROTECTION RELAY MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
    • COMMERCIAL & INSTITUTIONAL
      • NORTH AMERICA IS THE SECOND LARGEST MARKET FOR COMMERCIAL & INSTITUTIONAL SEGMENT
        • Table COMMERCIAL & INSTITUTIONAL: MV PROTECTION RELAY MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
  • MV PROTECTION RELAY MARKET, BY REGION
    • INTRODUCTION
      • Table MV PROTECTION RELAY MARKET SIZE, BY REGION, 2016-2023 (USD MILLION)
    • NORTH AMERICA
      • BY TYPE
        • Table NORTH AMERICA: MV PROTECTION RELAY MARKET SIZE, BY TYPE, 2016-2023 (USD MILLION)
      • BY CONNECTED LOAD
        • Table NORTH AMERICA: MV PROTECTION RELAY MARKET SIZE, BY CONNECTED LOAD, 2016-2023 (USD MILLION)
      • BY END-USER
        • Table NORTH AMERICA: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
      • BY COUNTRY
        • Table NORTH AMERICA: MV PROTECTION RELAY MARKET SIZE, BY COUNTRY, 2016-2023 (USD MILLION)
        • Table US: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
        • Table CANADA: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
        • Table MEXICO: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
    • ASIA PACIFIC
      • BY TYPE
        • Table ASIA PACIFIC: MV PROTECTION RELAY MARKET SIZE, BY TYPE, 2016-2023 (USD MILLION)
      • BY CONNECTED LOAD
        • Table ASIA PACIFIC: MV PROTECTION RELAY MARKET SIZE, BY CONNECTED LOAD, 2016-2023 (USD MILLION)
      • BY END-USER
        • Table ASIA PACIFIC: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
      • BY COUNTRY
        • Table ASIA PACIFIC: MV PROTECTION RELAY MARKET SIZE, BY COUNTRY, 2016-2023 (USD MILLION)
        • Table CHINA: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
        • Table INDIA: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
        • Table JAPAN: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
        • Table AUSTRALIA: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
        • Table SOUTH KOREA: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
        • Table REST OF ASIA PACIFIC: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
    • EUROPE
      • BY TYPE
        • Table EUROPE: MV PROTECTION RELAY MARKET SIZE, BY TYPE, 2016-2023 (USD MILLION)
      • BY CONNECTED LOAD
        • Table EUROPE: MV PROTECTION RELAY MARKET SIZE, BY CONNECTED LOAD, 2016-2023 (USD MILLION)
      • BY END-USER
        • Table EUROPE: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
      • BY COUNTRY
        • Table EUROPE: MV PROTECTION RELAY MARKET SIZE, BY COUNTRY, 2016-2023 (USD MILLION)
        • Table GERMANY: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
        • Table FRANCE: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
        • Table UK: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
        • Table RUSSIA: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
        • Table ITALY: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
        • Table REST OF EUROPE: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
    • SOUTH AMERICA
      • BY TYPE
        • Table SOUTH AMERICA: MV PROTECTION RELAY MARKET SIZE, BY TYPE, 2016-2023 (USD MILLION)
      • BY CONNECTED LOAD
        • Table SOUTH AMERICA: MV PROTECTION RELAY MARKET SIZE, BY CONNECTED LOAD, 2016-2023 (USD MILLION)
      • BY END-USER
        • Table SOUTH AMERICA: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
      • BY COUNTRY
        • Table SOUTH AMERICA: MV PROTECTION RELAY MARKET SIZE, BY COUNTRY, 2016-2023 (USD MILLION)
        • Table BRAZIL: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
        • Table ARGENTINA: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
        • Table REST OF SOUTH AMERICA: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
    • MIDDLE EAST & AFRICA
      • BY TYPE
        • Table MIDDLE EAST & AFRICA: MV PROTECTION RELAY MARKET SIZE, BY TYPE, 2016-2023 (USD MILLION)
      • BY CONNECTED LOAD
        • Table MIDDLE EAST & AFRICA: MV PROTECTION RELAY MARKET SIZE, BY CONNECTED LOAD, 2016-2023 (USD MILLION)
      • BY END-USER
        • Table MIDDLE EAST & AFRICA: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
      • BY COUNTRY
        • Table MIDDLE EAST & AFRICA: MV PROTECTION RELAY MARKET SIZE, BY COUNTRY, 2016-2023 (USD MILLION)
        • Table SAUDI ARABIA: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
        • Table UAE: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
        • Table QATAR: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
        • Table KUWAIT: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
        • Table NIGERIA: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
        • Table EGYPT: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
        • Table SOUTH AFRICA: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
        • Table REST OF MIDDLE EAST & AFRICA: MV PROTECTION RELAY MARKET SIZE, BY END-USER, 2016-2023 (USD MILLION)
  • COMPETITIVE LANDSCAPE
    • OVERVIEW
    • RANKING OF PLAYERS AND INDUSTRY CONCENTRATION, 2017
    • COMPETITIVE SCENARIO
      • Table SIEMENS WAS THE MOST ACTIVE PLAYER IN THE MARKET BETWEEN 2015 AND 2018
      • NEW PRODUCT LAUNCHES
      • INVESTMENTS & EXPANSIONS
      • CONTRACTS & AGREEMENTS
      • MERGERS & ACQUISITIONS
      • OTHERS
  • COMPANY BENCHMARKING
    • ABB
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • SIEMENS
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • SCHNEIDER ELECTRIC
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • ROCKWELL
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • EATON
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
    • MITSUBISHI ELECTRIC
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • SCHWEITZER
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • LARSEN & TOUBRO
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
    • TOSHIBA CORPORATION
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
    • TERASAKI
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
    • POWELL INDUSTRIES
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
    • WOODWARD
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
    • SOLCON
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
    • GENERAL ELECTRIC
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
  • APPENDIX
    • INSIGHTS OF INDUSTRY EXPERTS
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

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