Global MV Protection Relay Market Forecast to 2026 - Set to Exceed $1.4 Billion - ResearchAndMarkets.com

The "MV Protection Relay - Global Market Outlook (2017-2026)" report has been added to ResearchAndMarkets.com's offering.

According to this report, the Global MV Protection Relay market accounted for $808.8 million in 2017 and is expected to reach $1,405.2 million by 2026 growing at a CAGR of 6.3% during the forecast period.

Some of the factors propelling the market growth are increasing popularity of smart grid technologies for energy management in developing countries, growth of transmission & distribution (T&D) networks.

However, delays in grid expansion projects and high cost of installation and maintenance are some of the factors restricting the market growth. In addition, rising investments in smart grid technologies provide ample opportunities for the market growth.

Based on End User, industrial segment witnessed considerable growth in the market, owing to rising demand for protection relays in industries to avoid damages to costly instruments caused by overload, over temperature.

By geography, Asia Pacific region is expected to register the highest market growth rate during the forecast period, due to growing need for solar projects, rising smart grid demands, and increasing industrialization and urbanization.

The major driver behind the investments has been the continuous evolution and application of new technologies to unlock enormous volumes that were previously considered non-commercial. India and China accounted for high global shares in transmission and distribution infrastructure, and as a result, these countries are expected to be the major drivers for the protective relays market.

Connected Loads Covered:

• Motors
• Feeder Line
• Transformers
• Other Connected Loads

Voltage Ranges Covered:

• High Voltage
• Medium Voltage
• Low Voltage

Protection Mechanisms Covered:

• Feeder Protection
• Motor Protection
• Transmission Line
• Generator Protection

Types Covered:

• Digital & Numerical Relay
• Electromechanical & Static Relay

End Users Covered:

• Industrial
• Utilities
• Commercial & Institutional
• Renewable
• Marine

Companies Profiled:

• ABB
• General Electric
• Mitsubishi Electric
• Rockwell
• Toshiba Corporation
• Larsen & Toubro
• Woodward
• Eaton
• Siemens
• Schneider Electric
• Schweitzer
• Powell Industries
• Basler Electric Co.
• Solcon
• Terasaki

For more information about this report visit https://www.researchandmarkets.com/research/br9dgs/global_mv?w=4

View source version on businesswire.com: https://www.businesswire.com/news/home/20190118005267/en/