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Global MV Protection Relay Market Will Reach $1115 Million By 2023

The global MV protection relay market is projected to reach a size of USD 1,115 million by 2023, at a CAGR of 5.33%, from an estimated USD 860 million in 2018. This growth can be attributed to the upgrading of existing substation and feeder line protection, expansion of transmission & distribution (T&D) networks, and growth of the renewable sector. View more details - https://www.prnewswire.com/news-releases/mv-protection-relay-market-worth-1-115-million-by-2023-exclusive-report-by-marketsandmarkets--810578682.html

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Global MV Protection Relay Market Will Reach $1115 Million By 2023

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  1. 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 www.MarketsandMarkets.com

  2. The digital & numerical relay segment is expected to hold the largest share of the MV protection relay market, by type, during the forecast period. The digital & numerical relay segment led the MV protection relay market in 2017 and is projected to have the largest market share during the forecast period. Digital & numerical relay provides various benefits over electromechanical and static relay such as functional flexibility, reliability, self-checking and self-adaptability, ability to communicate with other digital equipment (peer-to-peer), accuracy in providing fault data and disturbance record. Moreover, increasing modernization of substations in the developed nations to ensure uninterrupted power supply with minimum losses would drive the digital & numerical relay market during the forecast period PDF Brochure : https://www.marketsandmarkets.com/pdfdownload.asp?id=203382188

  3. The feeder line segment of the MV protection relay market, by connected load, is expected to grow at the highest CAGR during the forecast period The feeder line segment led the MV protection relay market in 2017 and is one of the fastest growing market during the forecast period. Increasing distribution lines across the globe is expected to boost the feeder line market during the forecast period. This will create a demand for MV protection relays.  As per International Energy Agency (IEA), Asia Pacific is likely to add 2,911 GW of power capacity from 2014 to 2035 with 14,400 thousand km of new distribution line from 2014 to 2035. Thus, it would boost the growth of MV protection relay market during the forecast period. Request for Customization : https://www.marketsandmarkets.com/requestCustomization.asp?id=203382188

  4. Browse >> 70 market data tables 42 figures 135 pagesand in-depth TOC on “MV Protection Relay Market - Global Forecast to 2023” Early buyers will receive 10% customization on this report. This is a Premium Report Priced at US $5650 for single user. Corporate User : US$8150 This study answers several questions for the stakeholders, primarily which market segments to focus on in the next two to five years to prioritize efforts and investments.

  5. Asia Pacific: The leading market for MV protection relays In this report, the MV protection relay market has been analyzed with respect to 5 regions, namely, Asia Pacific, North America, South America, Europe, and the Middle East & Africa. Asia Pacific led the global MV protection relay market in 2017. China and India are the largest markets for MV protection relay in the region. Increasing T&D network expansion and industrialization projects are some of the key factors responsible for the growth of the medium voltage protection relay . According to the Asian Development Bank, an investment of USD 8.22 trillion is required for infrastructure development in the region during the 10-year period of 2010–2020. Thus, create a demand for MV protection relay market during the forecast period. Request Sample @ https://www.marketsandmarkets.com/requestsample.asp?id=203382188

  6. Market Size Estimation • Both top-down and bottom-up approaches were used to estimate and validate the total size of the MV protection relay market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following: • The key players in the industry and markets have been identified through extensive secondary research. • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes. • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources • Speak to analyst @https://www.marketsandmarkets.com/speaktoanalyst.asp?id=203382188

  7. Key players - • To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the MV protection relay market. The key players include • ABB (Switzerland), • GE (US), • Schneider Electric (France), • Siemens (Germany), • SEL (US), etc. • Buy Now : - • https://www.marketsandmarkets.com/Purchase/purchase_report1.asp?id=203382188

  8. Contact:Mr. Shelly SinghMarketsandMarkets™ INC.630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 Email: sales@marketsandmarkets.com

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