Thailand Protective Relay Market Outlook (2023-2029) | Companies, Growth, COVID-19 IMPACT, Size, Revenue, Value, Industry, Share, Trends, Analysis & Forecast

Thailand Protective Relay Market | Country-Wise Share and Competition Analysis

In the year 2021, China was the largest exporter in terms of value, followed by Japan. It has registered a growth of 65.74% over the previous year. While Japan registered a growth of 13.34% as compared to the previous year. In the year 2017, China was the largest exporter followed by Japan. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, Thailand has a Herfindahl index of 1386 in 2017 which signifies high competitiveness also in 2021 it registered a Herfindahl index of  1773 which signifies moderately concentrated in the market.

Thailand Protective Relay Market - Export Market OpportunitiesTopics Covered in Thailand Protective Relay Market Report

Thailand Protective Relay Market report thoroughly covers the market by voltage, end-user, technology, and application. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Thailand Protective Relay Market Synopsis

Thailand Protective Relay Market is estimated to witness a higher growth in the upcoming years due to the rising urbanization and industrialization in the country. Rise in urbanization and industrialization led to a growth in energy consumption and high demand for electricity mandates the increase of transmission and distribution infrastructure and power generation, fueling the requirement for protective relays in order to protect electrical systems.

According to 6Wresearch, the Thailand Protective Relay Market size is expected to rise at a faster pace during 2023–2029. Due to the high demand for electricity, there is an expansion in transmissions, distribution infrastructure, and power generation, which helps in stimulating the requirement for protective relays in order to protect electrical systems. The government of the country works hard in order to promote renewable energy sources like wind and solar. These protective relays have a central role to play in handling intermittent renewable energy sources and managing grid stability. The adoption of smart protective relays may improve the overall performance and reliability of the power grid. The modern relays are offering smart features such as event recording, communication capabilities, and fault location, allowing utilities to minimize downtime and respond to issues promptly. The high initial investment, lack of skilled workforce, cybersecurity concerns, and complex grid configurations are the challenges impeding the Thailand Protective Relay Market Growth.

COVID-19 Impact on Thailand Protective Relay Market

The outbreak of the coronavirus disease caused disruptions in supply chains throughout the world, including the manufacturing as well as distribution of electrical components such as protective relays. Transportation restrictions, material shortages, and factory closures have led to delays in production as well as supply, affecting the availability of protective relays in the industry. Many infrastructure and construction projects were delayed with the coronavirus pandemic leading to social distancing and lockdowns. Financial constraints and economic uncertainties during the pandemic led some players and utilities to postpone their investment plans. This significantly affected the Thailand Protective Relay Market Share. During the peak time, the focus of industries and governments shifted towards ensuring prominent services like public safety, healthcare, and communication and this resulted in non-urgent projects.

Thailand Protective Relay Industry: Key Players

Players that have been playing a prominent role in ensuring the smooth operation of the market include:

• Siemens
• ABB Group
• Schneider Electric
• General Electric
• Mitsubishi Electric
• Eaton Corporation
• Littelfuse Inc
• ZIV Automation
• Schweitzer Engineering Laboratories
• NR Electric

Market by Voltage

According to Vasudha, Senior Research Analyst, 6Wresearch, the medium voltage segment in terms of voltage is projected to have dominance over the market on the back of the growing demand for electricity from the residential sector.

Market by Technology

In terms of technology, the market is segmented into Electromechanical & Static Relay and Digital & Numerical Relay. The digital & numerical relay segment will attain major growth in the market in the near future.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Thailand Protective Relay Market Outlook
• Market Size of Thailand Protective Relay Market, 2022
• Forecast of Thailand Protective Relay Market, 2029
• Historical Data and Forecast of Thailand Protective Relay Revenues & Volume for the Period 2019 - 2029
• Thailand Protective Relay Market Trend Evolution
• Thailand Protective Relay Market Drivers and Challenges
• Thailand Protective Relay Price Trends
• Thailand Protective Relay Porter's Five Forces
• Thailand Protective Relay Industry Life Cycle
• Historical Data and Forecast of Thailand Protective Relay Market Revenues & Volume By Voltage for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Protective Relay Market Revenues & Volume By Low for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Protective Relay Market Revenues & Volume By Medium for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Protective Relay Market Revenues & Volume By High for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Protective Relay Market Revenues & Volume By End-User for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Protective Relay Market Revenues & Volume By Utilities for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Protective Relay Market Revenues & Volume By Industrial for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Protective Relay Market Revenues & Volume By Railways for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Protective Relay Market Revenues & Volume By Others for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Protective Relay Market Revenues & Volume By Technology for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Protective Relay Market Revenues & Volume By Electromechanical & Static Relay for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Protective Relay Market Revenues & Volume By Digital & Numerical Relay for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Protective Relay Market Revenues & Volume By Application for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Protective Relay Market Revenues & Volume By Transmission line for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Protective Relay Market Revenues & Volume By Busbar for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Protective Relay Market Revenues & Volume By Transformer for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Protective Relay Market Revenues & Volume By Feeder for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Protective Relay Market Revenues & Volume By Generator for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Protective Relay Market Revenues & Volume By Motor for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Protective Relay Market Revenues & Volume By Others for the Period 2019 - 2029
• Thailand Protective Relay Import Export Trade Statistics
• Market Opportunity Assessment By Voltage
• Market Opportunity Assessment By End-User
• Market Opportunity Assessment By Technology
• Market Opportunity Assessment By Application
• Thailand Protective Relay Top Companies Market Share
• Thailand Protective Relay Competitive Benchmarking By Technical and Operational Parameters
• Thailand Protective Relay Company Profiles
• Thailand Protective Relay Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Voltage

• Low
• Medium
• High

By End-User

• Utilities
• Industrial
• Railways
• Others

By Technology

• Electromechanical & Static Relay
• Digital & Numerical Relay

By Application

• Transmission Line
• Busbar
• Transformer
• Feeder
• Generator
• Motor
• Others