Protection Relays Market - Advanced technologies, Global Forecast and Winning Imperatives

ALBANY, NY, May 3, 2017 : A protective relay is an electric device which senses abnormality in the voltage of the electric system and triggers a circuit if specified abnormal conditions are met. Protective relays use predefined logic to respond to the input current in a prescribed manner and cause abrupt changes such as circuit break or power switch off in the associated electrical control circuits. Protective relays detect anomalies such as voltage dips, power loss or over voltages in the input electric current and trigger an alarm to minimize system damage. Protective relays act as primary circuit protection on distributed networks and auxiliary protection on generators, transformers and motors. Thereby, protective relays avoid major flashovers, accidents and other incidents by tripping over the circuit or triggering a circuit breaker in the associated electric system in case of an abnormal electric current.

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Protective relays can be categorized into electromagnetic relays, static relays and mechanical relays depending on its operation mechanism. Based on the actuating parameter, electromagnetic relays are categorized as voltage relays, current relays, power relays and frequency relays. Such differentiated relays detect anomalies in different parameters to sense abnormalities in electric current and undertake protective measures. Moreover, protective relays can be designed using various logic such as differential, neutral displacement, unbalance, directional, over fluxing, etc. Mechanical protective relays can be of various types such as thermal, pressure switches, float type, mechanical interlocks and pole discrepancy relays.

With the constantly growing need for electric power in developed as well as developing countries for industrial and civilian use, the growth of protective relays is imminent. Protective relays provide protection of the existing electric systems and ensure sustainable supply of electricity in any country’s electric infrastructure. Another factor driving the growth of protective relays market is increasing infrastructure projects in developing countries such as China, India, Indonesia and Thailand in the Asian region, Brazil, Chile and Peru in Latin America and other African countries such as Zambia, Congo and Namibia, etc. The increasing number of retrofit projects and increased power consumption in such countries has led to heavy investments in the new infrastructure projects. Despite its immense necessities, the growth of protective relays market faces a few challenges owing to lack of differentiation and innovation. Key providers in protective relays market can take advantage of opportunities such as product differentiation and technological advancements to gain competitive advantage in the protective relays market.

With the rising need for electric power all across the world, major players in protective relays market have invested heavily in relay technology. Companies in the market are in the phase of designing and development of innovative protective relay to add capabilities such as decision making and real time source switching. Some of the key players in protective relays market include Siemens AG in Germany, General Electric (GE), Littelfuse Inc., Eaton Corporation Beckwith Electric Co. Inc., ZIV Inc. (Crompton Greaves Group Company) and Schweitzer Engineering Laboratories in the U.S., Schneider Electric and Alstom Group in France, NR Electric in China, Cooper Industries in Ireland, ERL Phase Power Technologies Ltd. in Canada and Mitsubishi Electric Corporation in Japan.

This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include

North America
Asia Pacific
Europe
Rest of the World

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This report provides comprehensive analysis of

Market growth drivers
Factors limiting market growth
Current market trends
Market structure
Market projections for upcoming years

This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.

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