Tag Archives: Protective Relay Market Share

Protective Relay Market worth $4.54 Billion by 2021

According to the new market research report Protective Relay Market by Voltage (High, Medium, and Low), by End-User (Utilities, Industries, Renewables, and Marine), and by Protection Mechanism (Feeder, Transmission Line, Motor, Transformer, Generator, Breaker, Capacitor Bank, and Busbar) – ****** Trends and Forecasts to 2021″, published by MarketsandMarkets™, The protective relay market is projected to grow from an estimated USD 3.31 Billion in 2016 to USD 4.54 Billion by 2021, registering a CAGR of 6.5% from 2016 to 2021. The growth of the protective relay market is driven by transmission & distribution activities across the globe. Ongoing smart grid and substation automation projects are also expected to propel market growth.

Protective Relay Market worth $4.54 Billion by 2021

The protective relay market is projected to grow from an estimated USD 3.31 Billion in 2016 to USD 4.54 Billion by 2021, registering a CAGR of 6.5% from 2016 to 2021. Protective relays play a crucial role in several segments, including power generation, transmission & distribution, and equipment protection. Relays are installed in the circuit to minimize electrical failures caused by the transients and fault currents that flow through the circuit, and to mitigate their effects. These high-intensity fault currents can damage equipment or devices in the circuit. The protective relay market is segmented on the basis of voltage, protection mechanism, end-user, and region.