1. Market Research
  2. > Manufacturing
  3. > Electronics Market Trends
MV Protection Relay Market by Type, Connected Load, End-User & Region - Global Forecast to 2023

MV Protection Relay Market by Type, Connected Load, End-User & Region - Global Forecast to 2023

  • October 2018
  • 136 pages
  • ID: 5608420
In this report:
According to Bloomberg New Energy Finance, wind and solar energy accounted for ##% of the 2015 investments in renewable power as the cost of wind turbines reduced by nearly a third since 2009, and that of solar photovoltaic modules fell by ##%.
According to the Chilean Ministry of Energy, the electricity demand is expected to grow from ## TWh in 2010 to ## TWh by 2020.

Summary

Table of Contents

Search Inside

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: 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.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Veronica helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers
Global DC-AC inverter Market - Opportunities and Forecast (2013-2023)

Global DC-AC inverter Market - Opportunities and Forecast (2013-2023)

  • $ 2000
  • December 2018

Executive SummaryA comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report aims to present the ...

Global Industrial Valves Market in Power Industry 2018-2022

Global Industrial Valves Market in Power Industry 2018-2022

  • $ 2500
  • November 2018

About this marketValve diagnosis is gaining prominence in the industrial valves market in power industry. Valves cover almost all aspects of a power plant, offering great control to operators over plant ...

Global Instrument Transformer Market - Opportunities and Forecast (2013-2023)

Global Instrument Transformer Market - Opportunities and Forecast (2013-2023)

  • $ 2400
  • December 2018

Executive SummaryA comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report aims to present the ...


ref:plp2018

Reportlinker.com © Copyright 2019. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on