DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Protective Relay Market - Forecasts from 2017 to 2022" report to their offering.
Global Protective Relay Market is expected to expand at a CAGR of 7.28% over the forecast period to reach US$5.836 billion by 2022
A protective relay is a device that detects the fault and initiates the operation of the circuit breaker to eliminate the defective element from the rest of the system. These relays work together with control and sensing devices in order to achieve their desired function. Protective relays have application in the electric power industry. Some of the preferred potentials of protective relay circuits include adequateness, selectivity, reliability, stability, power consumption, system security, speed and time.
Growing global population leading to the ever-increasing need for electrical power is the major driver of the global protective relay market. Growing adoption of automation process across end-user industries combined with expanding transmission and distribution infrastructure globally are also projected to propel the growth of protective relay market over the next six years. Growing security issues will augment the demand for Cyber Protective Relays in the coming years. However, the high cost of installation and maintenance can obstruct the growth of protective relay market.
Asia Pacific dominated the market in the year 2015 and is expected to remain at its position throughout the forecast period owing to development and up gradation of transmission and distribution lines. Large population base in Asia Pacific leads to more power consumption in the region, resulting in increased demand for protective relays.
This region is also expected to display better growth opportunities in the future, primarily because of increasing infrastructure projects in developing countries like India and China. Moreover, the booming consumer electronics industry and automotive industry in the region will bolster the growth of APAC Protective Relay market during the forecast period.
Key industry players profiled as part of this section are ABB, Schneider Electric, Siemens, Coto Technology, Omron, Fujitsu, General Electric, and SEL Group.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Protective Relay Market Forecast by Voltage (US$ billion)
6. Protective Relay Market Forecast by Protection Mechanism (US$ billion)
7. Protective Relay Market Forecast by Industry Vertical (US$ billion)
8. Protective Relay Market Forecast by Geography (US$ billion)
9. Competitive Intelligence
10. Company Profiles
- Coto Technology
- General Electric
- SEL Group
- Schneider Electric
For more information about this report visit http://www.researchandmarkets.com/research/mj2smh/protective_relay