Press release
How Protective Relay Market Will Dominate In Coming Years? Key Players: Eaton Corporation, Siemens AG, General Electric, ABB Ltd., Toshiba Corporation, Littlefuse Inc., Hitachi Ltd., Mitsubishi Electric Corporation, Schneider Electric Rockwell Automation,
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Some of the leading companies operating in the global protective relays market are:
• Eaton Corporation
• Siemens AG
• General Electric
• ABB Ltd.
• Toshiba Corporation
• Littlefuse Inc.
• Hitachi Ltd.
• Mitsubishi Electric Corporation
• Schneider Electric Rockwell Automation, Inc.
• OMRON Corporation
• Omega Engineering
• Celduc Realis
• Control & Switchgear Electric Limited
Asia Pacific to Exhibit Considerable Growth; High Population and Increasing Energy Demand to Aid Growth
The market is segmented on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in Asia Pacific will witness considerable growth in the coming years, owing to the high demand for electricity in several countries across this region. The growing infrastructure in several sectors will create a huge demand for protective relays. Emerging countries such as India, China, and Japan have provided a huge potential for market growth. Besides Asia Pacific, the market in North America and Europe will witness considerable growth in the coming years.
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Key Industry Developments:
March 2020: Mitsubishi electric carried out the testing of the prototype model of its HVDC line protection relay hardware. The project has received funding from the European commission horizon 2020 framework.
Protective relays are devices that are used to trip or break the circuit in cases of fault. Protective relays are used to protect the circuit from getting damaged during voltage and current failures. The increasing use of physical circuits have opened up a huge potential for the companies operating in the global protective relays market. They identify the malfunctioning part in a circuit and prevent further damages and costs. The increasing demand for electricity from all industrial sectors will create a subsequent demand for protective relays. Increasing use of protective relays in applications across diverse industries will aid the growth of the market in the coming years.
The report encompasses several factors that have contributed to the growth of the market in recent years. Besides growth stimulators, it discusses a few of the factors that have restrained market growth. The report highlights a few of the leading products, major companies, and major industry developments of recent times. The competitive landscape in the adhesives and sealants market has been discussed in detail. Forecast values for the market have been provided in the report for the period of 2020-2026. Additionally, the report identifies areas that have witnessed the highest demand and applications for the product in recent years.
Increasing Number of Product Launches to Aid Growth
Among all factors that have contributed to the growth of the market in recent years, the increasing number of product launches have had the highest impact. In April 2020, Schneider Electric announced the launch of connected Easergy P5. The company Easergy P5 was designed to provide safety to critical assets. They can protect and enhance cybersecurity, reliability, and connectivity in a device. The report identifies newer product launches in recent years and gauges their impact on the global market.
Key Market Driver – Rise in demand for electricity around the world
Key Market Restraint – High capital cost and regular maintenance
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Segmentation
1. By Voltage
• Low Voltage
• Medium Voltage
• High Voltage
2. By Application
• Transmission Line Protection
• Transformer Protection
• Motor Protection
• Feeder Protection
• Generator Protection
• Others
3. By End-User
• Utilities
• Industrial
• Renewables
• Marine
4. By Geography
• North America (The USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
• Asia Pacific (China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and The Rest of the Middle East & Africa)
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/protective-relay-market-101461
Major Table of Content For Protective Relay Market:
1. Introduction
2. Executive Summary
3. Market Dynamics
4. Key Insights
5. Global Protective Relay Market Analysis, Insights and Forecast, 2026
6. North America Protective Relay Market Analysis, Insights and Forecast, 2026
7. Europe Protective Relay Market Analysis, Insights and Forecast, 2026
8. Asia Pacific Protective Relay Market Analysis, Insights and Forecast, 2026
9. Middle East and Africa Protective Relay Market Analysis, Insights and Forecast, 2026
10. Latin America Protective Relay Market Analysis, Insights and Forecast, 2026
11. Competitive Landscape
12. Company Profile
13. Conclusion
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