MV Protection Relay Market: 2018 Global Opportunities, Share, Key Players, Size, Competitive Analysis and Regional Forecast To 2023

The report "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 expected to grow from an estimated USD 860 million in 2018 to USD 1,115 Million by 2023, at a CAGR of 5.33%. Expansion of transmission & distribution (T&D) networks and growth of the renewable sector are likely to drive the MV protection relay market.

                                                              

Browse 70 market data Tables and 42 Figures spread through 135 Pages and in-depth TOC on "MV Protection Relay Market - Global Forecast to 2023"

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.

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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.

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.

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This research report categorizes the MV protection relay market based on type, connected load, end-user, and region

On the basis of type, the MV protection relay market has been segmented as follows:

·         Electromechanical & Static Relay

·         Digital & Numerical Relay

On the basis of connected load, the MV protection relay market has been segmented as follows:

·         Feeder Line

·         Transformer

·         Motor

·         Others

On the basis of by end-user, the MV protection relay market has been segmented as follows:

·         Utilities

·         Industrial

·         Commercial & Institutional

On the basis of by region, the MV protection relay market has been segmented as follows:

·         Asia Pacific

·         Europe

·         North America

·         Middle East & Africa

·         South America

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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), and SEL (US). The leading players are adopting various strategies to increase their shares in the MV protection relay market.

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Hydrogen Generation Market: Drivers, Restraints, Opportunities, & Challenges 2018-2023

The global hydrogen generation market is projected to reach USD 199.1 billion by 2023 from an estimated USD 135.5 billion in 2018, at a CAGR of 8.0%. The growth of the hydrogen generation market is driven by the growing need to decarbonize the energy end-use, rising demand for fuel cells in the transportation sector, and stringent regulations to regulate the sulfur content in fossil fuel generation.

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The hydrogen generation market is dominated by a few major players that have a wide geographical presence and are established brand names. Leading players in the hydrogen generation market include Air Liquide (France), Air Products and Chemicals (US), Iwatani (Japan), Hydrogenics (Canada), Linde (Germany), Praxair (US), Messer Group (Germany), Showa Denko (Japan), Ally Hi-Tech (China), Caloric (Germany), Claind (Italy), Erredue (Italy), HyGear (Netherlands), Nuvera Fuel Cells (US), Proton OnSite (US), Taiyo Nippon Sanso (Japan), Teledyne Energy Systems (US), Xebec (Canada), Ballard Power Systems (Canada), FuelCell Energy (US), and Plug Power (US).

Merchant hydrogen generation segment is estimated to be the fastest growing market for hydrogen generation from 2018 to 2023. This segment is expected to witness growth because of increased demand in transportation and power generation. Merchant hydrogen generation is carried out by adopting various methods such as water electrolysis and small-scale reformers.  

Asia Pacific is the fastest growing market for hydrogen generation from 2018 to 2023. Increasing refinery operations and rising investments to promote fuel cell electric vehicles in countries such as China and Japan are expected to drive the market for hydrogen generation in the region.

The electrolysis of water technology segment is expected to grow at the highest rate from 2018 to 2023. Electrolysis is a clean method to produce hydrogen with no emissions of greenhouse gases but has high energy consumption. Currently, excess renewable energy from the grid is used by operators to carry out electrolysis and generate hydrogen. All these factors will drive the growth of electrolysis technology during the forecast period.

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Based on application, the transportation segment is estimated to grow at the highest rate from 2018 to 2023. The demand for hydrogen has increased in the transportation sector with increasing deployment of fuel cells in countries such as China, Japan, and the US. Also, power generation applications such as stationary and portable power for remote power generation and backup operations also drive the market for hydrogen. Major players operating in the hydrogen generation market are currently investing in hydrogen infrastructure projects such as hydrogen filling stations to complement the growth of the transportation segment.

Busbar Protection Market Projected to reach $4.31 Billion by 2023 | Key Players include ABB, Schneider Electric, GE, Siemens, Mitsubishi Electric, NR Electric, Toshiba, Eaton, and ZIV

The global busbar protection market is expected to grow at a CAGR of 6.10%, from 2018 to 2023, to reach a market size of USD 4.31 billion by 2023. The addition of new transmission & distribution line along with the refurbishment of the old transmission & distribution line is expected to drive the busbar protection market during the forecast period. The adoption of the HVDC technology and huge investments in smart grids and energy systems offer a huge opportunity to the busbar protection market during the forecast period.

Browse 68 market data Tables and 32 Figures spread through 137 Pages and in-depth TOC on "Busbar Protection Market by Voltage (Medium Voltage, High Voltage, and Extra High Voltage), Impedance (Low Impedance and High Impedance), End-User (Utilities, Industries, and Transportation), and Region - Global Forecast to 2023"

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The extra high-voltage segment is estimated to be the fastest growing segment of the busbar protection market, by voltage, from 2018 to 2023. This growth can be attributed to the increasing usage of busbar protection systems in transmission & distribution, grid interconnection, and other energy industries. Moreover, the increase in power-generating capacity and growth of offshore wind farms are expected to offer new growth opportunities in the extra high-voltage market. Furthermore, the adoption of smart grids and distribution transmission in the utilities sector would boost the growth of the busbar protection market and create new revenue pockets for the market during the forecast period.

The report further segments the busbar protection market, by impedance, into low and high impedance. The low-impedance segment is expected to grow at the fastest rate from 2018 to 2023. The development of modern microprocessor-based low-impedance busbar protection relays, which utilizes sophisticated algorithms to detect faults in the busbar schemes, is the major factor for the growth of the low-impedance segment.

The industries segment of the busbar protection market, by end-user, is estimated to grow at a faster rate than the other end-user segments from 2018 to 2023. This growth is attributed to the growing demand for the reliable delivery of electric power, which in turn, is likely to lead to increased investments in the transmission & distribution infrastructure. This is likely to create the demand for busbar protection systems in the industries segment. The necessity of uninterrupted power delivery to machines in industries such as oil & gas, metals & mining, cement, and chemicals drives the market for this segment during the forecast period. The implementation of busbar protection systems not only protect expensive instruments but also help to maximize their lifespan and efficiency.

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The Asia Pacific region is projected to grow at the fastest rate, from 2018 to 2023, followed by Middle East & Africa and Europe. Countries such as the US, China, the UK, Saudi Arabia, Russia, Germany, and India are the largest markets for busbar protection. India and China are rapidly developing large economies. Both countries are implementing policies to boost their industrial sectors. The busbar protection market in India is projected to grow at the highest CAGR of from 2018 to 2023. Indian government takes initiatives to increase the country’s power generation capacity by using conventional as well as renewable energy sources; this would require grid connected and local distribution networks. Also, China has witnessed exponential growth in the demand for electricity in the past couple of decades, fueled by industrialization and infrastructural developments. These factors would boost the growth of the busbar protection market in the Asia Pacific region. Meanwhile, the high growth rate in the European region can be attributed to the increased focus on upgrading its aging infrastructure, integrating renewable energy sources such as solar and wind power, and building interconnections to enable the more efficient power and energy trading in the recent past. Moreover, countries such as the UAE are investing heavily in diversifying their energy mix and are trying to tap into renewable sources. The upgrading process would create substantial opportunities for substation automation companies. These investments are bound to boost the market for busbar protection in the country.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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Mr. Shelly Singh
MarketsandMarkets™ INC.
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Suite 430
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USA : 1-888-600-6441
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