Nov 2, 2018   SOURCE: BusinessWire

MV Protection Relay (Electromechanical & Static Relay, Digital & Numerical Relay) Market - Global Forecast to 2023 - ResearchAndMarkets.com

The "MV Protection Relay Market by Type, Connected Load, End-User & Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

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 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.

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.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 MV Protection Relay Market, By Type

7 MV Protection Relay Market, By Connected Load

8 MV Protection Relay Market, By End-User

9 MV Protection Relay Market, By Region

10 Competitive Landscape

11 Company Benchmarking

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

For more information about this report visit https://www.researchandmarkets.com/research/wsb9c7/mv_protection?w=4