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

  • ID: 4663072
  • Report
  • October 2018
  • Region: Global
  • 136 Pages
  • Markets and Markets
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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%

FEATURED COMPANIES

  • ABB
  • General Electric
  • Mitsubishi Electric
  • Rockwell
  • Schweitzer
  • Solcon
  • MORE

MV Protection Relay Market by Type (Electromechanical & Static Relay, Digital & Numerical Relay), Connected Load (Feeder Lines, Transformers, and Motors), End-User (Utilities, Industrial, and Commercial & Institutional) & Region - Global Forecast to 2023

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, over current, 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: <USD 500 million

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.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • ABB
  • General Electric
  • Mitsubishi Electric
  • Rockwell
  • Schweitzer
  • Solcon
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regional Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Limitations
1.7 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Data From Primary Sources
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the MV Protection Relay Market, 2018–2023
4.2 MV Protection Relay Market, By Type
4.3 MV Protection Relay Market, By Connected Load
4.4 MV Protection Relay Market, By End-User
4.5 Asia Pacific MV Protection Relay Market

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.3 Drivers
5.3.1 Growth of the Renewable Industry
5.3.2 Expansion of Transmission & Distribution Networks
5.3.3 Upgrade of Existing Substations and Feeder Line Protection
5.4 Restraints
5.4.1 Increasing Competition From the Unorganized Sector
5.4.2 Lack of Investments From Governments in Grid Stability
5.5 Opportunities
5.5.1 Growing Power Demand
5.5.2 Growing Demand for Electronic Devices
5.5.3 Changing Face of the Middle Eastern Manufacturing Industry
5.6 Challenges
5.6.1 Delays in Grid Expansion Projects
5.6.2 Cyber security Issues for Protection Relays

6 MV Protection Relay Market, By Type
6.1 Introduction
6.2 Electromechanical & Static Relay
6.2.1 Asia Pacific is Projected to Be the Largest Market for Electromechanical & Static Relays
6.3 Digital & Numerical Relay
6.3.1 Asia Pacific is Projected to Be the Fastest and the Largest Market for Digital & Numerical Relay

7 MV Protection Relay Market, By Connected Load
7.1 Introduction
7.2 Feeder Line
7.2.1 Rising Investment in Distribution Network is Expected to Drive the Demand for MV Protection Relay in Feeder Line
7.3 Transformers
7.3.1 North America Projected to Be Second Largest Market for MV Protection Relays in Transformers
7.4 Motors
7.4.1 Increasing Industrialization is the Major Driver for the Growth of MV Protection Relay in Motor
7.5 Others

8 MV Protection Relay Market, By End-User
8.1 Introduction
8.2 Utilities
8.2.1 Power Generation
8.2.1.1 Asia Pacific is Expected to Hold the Largest Market Share
8.2.2 Power Distribution
8.2.2.1 Increasing Demand for Power Globally is Driving the MV Protection Relay Market
8.3 Industrial
8.3.1 Oil & Gas
8.3.1.1 Oil & Gas is Expected to Be the Largest Market in Industrial Segment of MV Protection Relay Market
8.3.2 Metal & Mining
8.3.2.1 North America is Projected to Be the Second Largest Market of Metal & Mining Segment
8.3.3 Chemical & Pharmaceutical
8.3.3.1 Middle East & Africa is Projected to Be the Second Fastest Growing Market
8.3.4 Others
8.4 Commercial & Institutional
8.4.1 North America is the Second Largest Market for Commercial & Institutional Segment

9 MV Protection Relay Market, By Region
9.1 Introduction
9.2 North America
9.2.1 By Type
9.2.2 By Connected Load
9.2.3 By End-User
9.2.4 By Country
9.2.4.1 US
9.2.4.1.1 Increasing Modernization of Electric Infrastructure is Expected to Propel the Growth of MV Protection Relay Market in the Country
9.2.4.2 Canada
9.2.4.2.1 Increasing Focus on Infrastructure Development is One of the Factor for the Growth of MV Protection Relay Market
9.2.4.3 Mexico
9.2.4.3.1 Utilities is Estimated to Contribute the Largest Market Share of Mexican Market
9.3 Asia Pacific
9.3.1 By Type
9.3.2 By Connected Load
9.3.3 By End-User
9.3.4 By Country
9.3.4.1 China
9.3.4.1.1 Industrial Segment is Expected to Be Fastest Growing Market of MV Protection Relay
9.3.4.2 India
9.3.4.2.1 Expansion of T&D Network is Expected to Drive the MV Protection Relay Market in the Country
9.3.4.3 Japan
9.3.4.3.1 Growth of Renewable Industry in the Country is Expected to Drive the MV Protection Relay Market
9.3.4.4 Australia
9.3.4.4.1 Industrial Segment is Projected to Be the Fastest Growing MV Protection Relay Market in Australia
9.3.4.5 South Korea
9.3.4.5.1 Utilities is Estimated to Be the Largest MV Protection Relay Market in South Korea
9.3.4.6 Rest of Asia Pacific
9.4 Europe
9.4.1 By Type
9.4.2 By Connected Load
9.4.3 By End-User
9.4.4 By Country
9.4.4.1 Germany
9.4.4.1.1 Increasing Investment in Renewables is Expected to Fuel the Growth of MV Protection Relay Market
9.4.4.2 France
9.4.4.2.1 Industrial Segment is Estimated to Be the Second Largest MV Protection Relay Market in France
9.4.4.3 UK
9.4.4.3.1 Increasing Initiatives for the Addition of Renewables Across the Country is Expected to Drive the MV Protection Relay Market.
9.4.4.4 Russia
9.4.4.4.1 Industrial Segment is Projected to Have Fastest Growth Rate
9.4.4.5 Italy
9.4.4.5.1 Oil & Gas is Largest Industrial End-User of MV Protection Relay
9.4.4.6 Rest of Europe
9.5 South America
9.5.1 By Type
9.5.2 By Connected Load
9.5.3 By End-User
9.5.4 By Country
9.5.4.1 Brazil
9.5.4.1.1 Utilities is Projected to Be the Largest MV Protection Relay Market in Brazil
9.5.4.2 Argentina
9.5.4.2.1 Industrial is Expected to Grow at A Fastest Rate During the Forecast Period
9.5.4.3 Rest of South America
9.6 Middle East & Africa
9.6.1 By Type
9.6.2 By Connected Load
9.6.3 By End-User
9.6.4 By Country
9.6.4.1 Saudi Arabia
9.6.4.1.1 Growing Construction Activities in the Saudi Arabia Contribute to the Growth of MV Protection Relay Market
9.6.4.2 UAE
9.6.4.2.1 Increasing Industrialization Across the Country is Expected to Boost the MV Protection Relay Market
9.6.4.3 Qatar
9.6.4.3.1 Commercial & Institutional Segment is Projected to Be the Second Fastest Growing Market in Qatar
9.6.4.4 Kuwait
9.6.4.4.1 Investment in Utilities Segment is Expected to Propel the Growth of MV Protection Relay Market
9.6.4.5 Nigeria
9.6.4.5.1 Utilities Segment is Holds the Largest Market Share of Nigerian Market
9.6.4.6 Egypt
9.6.4.6.1 Industrial Segment is Projected to Grow at Fastest Rate
9.6.4.7 South Africa
9.6.4.7.1 South African Market is Dominated By Utilities Segment
9.6.4.8 Rest of Middle East & Africa

10 Competitive Landscape
10.1 Overview
10.2 Ranking of Players and Industry Concentration, 2017
10.3 Competitive Scenario
10.3.1 New Product Launches
10.3.2 Investments & Expansions
10.3.3 Contracts & Agreements
10.3.4 Mergers & Acquisitions
10.3.5 Others

11 Company Benchmarking
(Business Overview, Products Offered, Recent Developments)*
11.1 ABB
11.2 Siemens
11.3 Schneider Electric
11.4 Rockwell
11.5 Eaton
11.6 Mitsubishi Electric
11.7 Schweitzer
11.8 Larsen & Toubro
11.9 Toshiba Corporation
11.10 Terasaki
11.11 Powell Industries
11.12 Woodward
11.13 Solcon
11.14 General Electric

*Details on Business Overview, Products Offered, Recent Developments.

12 Appendix
12.1 Insights of Industry Experts
12.2 Discussion Guide
12.3 Knowledge Store
12.4 Available Customizations
12.5 Related Reports
12.6 Author Details

List of Tables
Table 1 MV Protection Relay Market Snapshot
Table 2 Transmission & Distribution Infrastructure Expansion Plans
Table 3 MV Protection Relay Market Size, By Type, 2016–2023 (USD Million)
Table 4 Electromechanical & Static Relay: MV Protection Relay Market Size, By Region, 2016–2023 (USD Million)
Table 5 Digital & Numerical Relay: MV Protection Relay Market Size, By Region, 2016–2023 (USD Million)
Table 6 MV Protection Relay Market Size, By Connected Load, 2016–2023 (USD Million)
Table 7 Feeder Line: MV Protection Relay Market Size, By Region, 2016–2023 (USD Million)
Table 8 Transformer: MV Protection Relay Market Size, By Region, 2016–2023 (USD Million)
Table 9 Motors: MV Protection Relay Market Size, By Region, 2016–2023 (USD Million)
Table 10 Others: MV Protection Relay Market Size, By Region, 2016–2023 (USD Million)
Table 11 MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 12 Utilities: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 13 Utilities: MV Protection Relay Market Size, By Region, 2016–2023 (USD Million)
Table 14 Power Generation: MV Protection Relay Market Size, By Region, 2016–2023 (USD Million)
Table 15 Power Distribution: MV Protection Relay Market Size, By Region, 2016–2023 (USD Million)
Table 16 Industrial: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 17 Industrial: MV Protection Relay Market Size, By Region, 2016–2023 (USD Million)
Table 18 Oil & Gas: MV Protection Relay Market Size, By Region, 2016–2023 (USD Million)
Table 19 Metal & Mining: MV Protection Relay Market Size, By Region, 2016–2023 (USD Million)
Table 20 Chemical & Pharmaceutical: MV Protection Relay Market Size, By Region, 2016–2023 (USD Million)
Table 21 Others: MV Protection Relay Market Size, By Region, 2016–2023 (USD Million)
Table 22 Commercial & Institutional: MV Protection Relay Market Size, By Region, 2016–2023 (USD Million)
Table 23 MV Protection Relay Market Size, By Region, 2016–2023 (USD Million)
Table 24 North America: MV Protection Relay Market Size, By Type, 2016–2023 (USD Million)
Table 25 North America: MV Protection Relay Market Size, By Connected Load, 2016–2023 (USD Million)
Table 26 North America: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 27 North America: MV Protection Relay Market Size, By Country, 2016–2023 (USD Million)
Table 28 US: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 29 Canada: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 30 Mexico: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 31 Asia Pacific: MV Protection Relay Market Size, By Type, 2016–2023 (USD Million)
Table 32 Asia Pacific: MV Protection Relay Market Size, By Connected Load, 2016–2023 (USD Million)
Table 33 Asia Pacific: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 34 Asia Pacific: MV Protection Relay Market Size, By Country, 2016–2023 (USD Million)
Table 35 China: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 36 India: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 37 Japan: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 38 Australia: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 39 South Korea: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 40 Rest of Asia Pacific: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 41 Europe: MV Protection Relay Market Size, By Type, 2016–2023 (USD Million)
Table 42 Europe: MV Protection Relay Market Size, By Connected Load, 2016–2023 (USD Million)
Table 43 Europe: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 44 Europe: MV Protection Relay Market Size, By Country, 2016–2023 (USD Million)
Table 45 Germany: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 46 France: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 47 UK: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 48 Russia: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 49 Italy: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 50 Rest of Europe: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 51 South America: MV Protection Relay Market Size, By Type, 2016–2023 (USD Million)
Table 52 South America: MV Protection Relay Market Size, By Connected Load, 2016–2023 (USD Million)
Table 53 South America: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 54 South America: MV Protection Relay Market Size, By Country, 2016–2023 (USD Million)
Table 55 Brazil: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 56 Argentina: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 57 Rest of South America: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 58 Middle East & Africa: MV Protection Relay Market Size, By Type, 2016–2023 (USD Million)
Table 59 Middle East & Africa: MV Protection Relay Market Size, By Connected Load, 2016–2023 (USD Million)
Table 60 Middle East & Africa: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 61 Middle East & Africa: MV Protection Relay Market Size, By Country, 2016-2023 (USD Million)
Table 62 Saudi Arabia: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 63 UAE: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 64 Qatar: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 65 Kuwait: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 66 Nigeria: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 67 Egypt: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 68 South Africa: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 69 Rest of Middle East & Africa: MV Protection Relay Market Size, By End-User, 2016–2023 (USD Million)
Table 70 Siemens Was the Most Active Player in the Market Between 2015 and 2018

List of Figures
Figure 1 Research Design
Figure 2 Breakdown of Primaries: By Company Type, Designation, & Region
Figure 3 Bottom-Up Approach
Figure 4 Top-Down Approach
Figure 5 Data Triangulation Methodology
Figure 6 Assumptions of the Research Study
Figure 7 Digital & Numerical Relay Segment to Register the Highest CAGR During the Forecast Period
Figure 8 Feeder Line Segment to Lead the MV Protection Relay Market From 2018 to 2023
Figure 9 Utilities Segment to Be the Leading End-User of the MV Protection Relay Market, 2018–2023
Figure 10 Asia Pacific to Lead the MV Protection Relay Market During the Forecast Period
Figure 11 Growing Transmission & Distribution Network Across the World is Expected to Drive the MV Protection Relay Market
Figure 12 Digital & Numerical Relay Segment to Register the Highest CAGR From 2018 to 2023
Figure 13 Feeder Line Segment Accounted for the Largest Market Share in 2017
Figure 14 Utilities Segment Held the Largest Market Share in 2017
Figure 15 China Was the Largest MV Protection Relay Market in Asia Pacific in 2017
Figure 16 MV Protection Relay Market: Drivers, Restraints, Opportunities, & Challenges
Figure 17 Investments in Renewable Energy Sources, 2004–2016 (USD Billion)
Figure 18 The Fastest Growing Power Generation Countries in Asia Pacific, Middle East, and Africa
Figure 19 Digital & Numerical Relay Segment Led the MV Protection Relay Market, By Type, in 2017
Figure 20 Feeder Line Segment Led the MV Protection Relay Market, By Connected Load, in 2017
Figure 21 Utilities Segment Led the MV Protection Relay Market, By End-User, 2017
Figure 22 India is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 23 Asia Pacific Led the MV Protection Relay Market in 2017
Figure 24 North America: MV Protection Relay Market Snapshot
Figure 25 Asia Pacific: MV Protection Relay Market Snapshot
Figure 26 Europe: MV Protection Relay Market Snapshot in 2017
Figure 27 South America: MV Protection Relay Market Snapshot, 2017
Figure 28 Middle East & Africa: MV Protection Relay Market Snapshot, 2017
Figure 29 Key Developments in the MV Protection Relay Market, 2015–2018
Figure 30 ABB Led the MV Protection Relay Market in 2017
Figure 31 ABB: Company Snapshot
Figure 32 Siemens: Company Snapshot
Figure 33 Schneider Electric: Company Snapshot
Figure 34 Rockwell: Company Snapshot
Figure 35 Eaton: Company Snapshot
Figure 36 Mitsubishi Electric: Company Snapshot
Figure 37 Larsen & Toubro: Company Snapshot
Figure 38 Toshiba Corporation: Company Snapshot
Figure 39 Terasaki: Company Snapshot
Figure 40 Powell Industries: Company Snapshot
Figure 41 Woodward: Company Snapshot
Figure 42 General Electric: Company Snapshot

Note: Product cover images may vary from those shown
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  • ABB
  • Eaton
  • General Electric
  • Larsen & Toubro
  • Mitsubishi Electric
  • Powell Industries
  • Rockwell
  • Schneider Electric
  • Schweitzer
  • Siemens
  • Solcon
  • Terasaki
  • Toshiba Corporation
  • Woodward
Note: Product cover images may vary from those shown
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