Chicago, IL -- (SBWIRE) -- 09/05/2017 -- Protective relays are used by energy and utilities industries to protect transformers and motors. The relay is able to detect abnormalities and fluctuations in operating conditions such as over current flow, over voltage, power flow, and trips in circuit if any. Intelligent relays and microprocessors are used widely because they are multi-functional and cost effective as compared to traditional electromagnetic relays. Rapid industrialization and urbanization are promoting the growth of the market worldwide. This report studies the current and future aspects of protective relay market.

The report tracks the major market events including product launches, technological developments, mergers & acquisitions, and the innovative business strategies opted by key market players. Along with strategically analyzing the key micro markets, the report also focuses on industry-specific drivers, restraints, opportunities and challenges in the protective relay market. The scope of this report covers the protective relay market by its major segments, which include the types, applications, and the major geographic regions.

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The global protective relay market is divided into five major geographical segments which are North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. The Asia-Pacific region holds the highest market share and is the largest revenue contributor of the protective relay market. The region shall continue to dominate during the forecasted period because of the presence of large number of transmission and distribution projects. Europe and North America region are witnessing a fast-paced growth of the protective relay market due to increasing need for power supplements.

MARKET SEGMENTATION

This report analyzes the protective relay market by the following segments:

Protective Relay Market, by Voltage

1. High
2. Medium
3. Low

Protective Relay Market, by Protection Mechanism

1. Feeder
2. Transmission Line
3. Motor
4. Transformer
5. Generator
6. Busbar

Protective Relay Market, by End User

1. Marine
2. Renewable
3. Utilities

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