Market Forecast By Voltage (Low Voltage Protective Relay, Medium Voltage Protective Relay, High Voltage Protective Relay), By Applications (Feeder Protection, Transmission Line Protection, Transformer Protection, Motor Protection & Others), By End Users (Industrial, Power Utilities & Other), By Countries (India, Japan, China, Australia, Thailand, Indonesia, Malaysia & Rest of Asia Pacific Region) and competitive landscape
Product Code: ETC002138 | Publication Date: Apr 2020 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 |
Report Name | Asia Pacific (APAC) Protective Relay Market |
Forecast period | 2024-2030 |
CAGR | 6.1% |
Growing Sector | Renewable Energy |
The Asia Pacific (APAC) Protective Relay Market report diversely covers the market by Voltage, Applications, End Users and Countries. The report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers that would help stakeholders to devise and align their market strategies according to the current and future market dynamics.
The Asia Pacific (APAC) Protective Relay Market is projected to witness significant growth in the forecast period. The increasing demand for energy, rapid industrialization and growing investments in renewable energy sources such as solar and wind power are driving growth in the market.
According to 6Wresearch, the Asia Pacific (APAC) Protective Relay Market is expected to grow at a CAGR of 6.1% during the forecast period. The growth in the market is fueled by factors such as increasing demand for energy, rapid industrialization and growing power utility projects.The rising number of power outages and blackouts due to inadequate grid infrastructure has also created a need for reliable protection systems, driving the market growth. The increasing demand for electricity in Asia Pacific (APAC) has led to the expansion of the power utilities sector. This sector is one of the major end-users of protective relays, driving their demand in the market. Moreover, the growing adoption of smart grid technologies and increasing investments in smart city projects are expected to drive the demand for protective relays in APAC. These advanced technologies require reliable protection systems to ensure efficient and safe operation, providing a boost to the market growth.
Despite the growth in the market, the Asia Pacific (APAC) Protective Relay Market is facing certain challenges that can hinder its growth in the forecast period. The primary challenge is the high initial cost associated with protective relays. This can be a deterrent for small and medium-sized enterprises, hindering their adoption of protective relays. Additionally, lack of skilled professionals to handle these advanced technologies in some Asia Pacific (APAC)n countries can also pose a challenge for market growth.
The leading players in the market include ABB Ltd., General Electric Company, Siemens AG, Schneider Electric SE, and Mitsubishi Electric Corporation. These companies are consistently investing in Research and Development activities to develop innovative products and expand their market reach. Currently, Siemens holds the largest share in the market.
The government regulations and policies in the Asia Pacific (APAC) region are also expected to have a significant impact on the protective relay market. Government regulations and policies play a significant role in shaping the protective relay market in APAC. In China and India, regulatory bodies have mandated the installation of protective relays in power transmission and distribution networks to ensure safe and reliable operations. Moreover, initiatives such as China's National Development and Reform Commission's (NDRC) Energy-Saving Action Plan have set targets for energy conservation, further driving the demand for protective relays.
The Asia Pacific (APAC) Protective Relay Market has been experiencing significant growth in recent years and is expected to continue its growth trajectory in the coming years. The market is expected to witness rapid growth due to increasing industrial expansion and distribution and transmission networks. Additionally, with rapid industrialization and urbanization, the demand for electricity is expected to surge, leading to a higher need for reliable protection systems. Moreover, the fast growth of the renewable energy sector is another factor fueling demand for protective relays. The advancements in protective relay technology and improved efficiency are also expected to boost market growth.
According to Dhaval, Research Manager, 6Wresearch, The Medium Voltage Protective Relay segment holds the dominant share in the market due to wide application in various industries such as oil and gas, manufacturing, and mining.
The Transmission Line Protection application segment holds the dominant share in the market due to increasing investments in transmission infrastructure and the need to ensure reliable power supply.
The Power Utilities segment holds the dominant share in the market due to the high demand for protective relays in this sector.
South Asia Pacific (APAC) holds the dominant share in the market due to strong industrial sector and favourable government policies promoting energy development.
The market study offers an exhaustive analysis of the following market segments:
1. Executive Summary |
2. Introduction |
2.1 Report Description |
2.2 Key Highlights of The Report |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3. Asia Pacific Protective Relay Market Overview |
3.1 Asia Pacific Protective Relay Market Revenues, 2020-2030F |
3.2 Asia Pacific Protective Relay Market Revenue Share, By Voltage, 2020 & 2030F |
3.3 Asia Pacific Protective Relay Market Revenue Share, By End Users, 2020 & 2030F |
3.4 Asia Pacific Protective Relay Market Revenue Share, By Applications, 2020 & 2030F |
3.5 Asia Pacific Protective Relay Market Revenue Share, By Countries, 2020 & 2030F |
3.6 Asia Pacific Protective Relay Market Industry Life Cycle |
3.7 Asia Pacific Protective Relay Market- Porter’s Five Forces |
4. Asia Pacific Protective Relay Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5. Asia Pacific Protective Relay Market Trends |
6. Asia Pacific Protective Relay Market Overview, By Voltage |
6.1 Asia Pacific Low Voltage Protective Relay Market Revenues, 2020-2030F |
6.2 Asia Pacific Medium Voltage Protective Relay Market Revenues, 2020-2030F |
6.3 Asia Pacific High Voltage Protective Relay Market Revenues, 2020-2030F |
7. Asia Pacific Protective Relay Market Overview, By End Users |
7.1 Asia Pacific Protective Relay Market Revenues, By Industrial, 2020-2030F |
7.2 Asia Pacific Protective Relay Market Revenues, By Power Utilities, 2020-2030F |
7.3 Asia Pacific Protective Relay Market Revenues, By Others, 2020-2030F |
8. Asia Pacific Protective Relay Market Overview, By Applications |
8.1 Asia Pacific Protective Relay Market Revenues, By Feeder Protection, 2020-2030F |
8.2 Asia Pacific Protective Relay Market Revenues, By Transmission Line Protection, 2020-2030F |
8.3 Asia Pacific Protective Relay Market Revenues, By Transformer Protection, 2020-2030F |
8.4 Asia Pacific Protective Relay Market Revenues, By Motor Protection, 2020-2030F |
8.5 Asia Pacific Protective Relay Market Revenues, By Others, 2020-2030F |
9. Thailand Protective Relay Market Overview |
9.1 Thailand Protective Relay Market Revenues, 2020-2030F |
9.2 Thailand Protective Relay Market Revenues, By Voltage, 2020-2030F |
9.3 Thailand Protective Relay Market Revenues, By End Users, 2020-2030F |
9.4 Thailand Protective Relay Market Revenues, By Applications, 2020-2030F |
10. India Protective Relay Market Overview |
10.1 India Protective Relay Market Revenues, 2020-2030F |
10.2 India Protective Relay Market Revenues, By Voltage, 2020-2030F |
10.3 India Protective Relay Market Revenues, By End Users, 2020-2030F |
10.4 India Protective Relay Market Revenues, By Applications, 2020-2030F |
11. China Protective Relay Market Overview |
11.1 China Protective Relay Market Revenues, 2020-2030F |
11.2 China Protective Relay Market Revenues, By Voltage, 2020-2030F |
11.3 China Protective Relay Market Revenues, By End Users, 2020-2030F |
11.4 China Protective Relay Market Revenues, By Applications, 2020-2030F |
12. Malaysia Protective Relay Market Overview |
12.1 Malaysia Protective Relay Market Revenues, 2020-2030F |
12.2 Malaysia Protective Relay Market Revenues, By Voltage, 2020-2030F |
12.3 Malaysia Protective Relay Market Revenues, By End Users, 2020-2030F |
12.4 Malaysia Protective Relay Market Revenues, By Applications, 2020-2030F |
13. Indonesia Protective Relay Market Overview |
13.1 Indonesia Protective Relay Market Revenues, 2020-2030F |
13.2 Indonesia Protective Relay Market Revenues, By Voltage, 2020-2030F |
13.3 Indonesia Protective Relay Market Revenues, By End Users, 2020-2030F |
13.4 Indonesia Protective Relay Market Revenues, By Applications, 2020-2030F |
14. Japan Protective Relay Market Overview |
14.1 Japan Protective Relay Market Revenues, 2020-2030F |
14.2 Japan Protective Relay Market Revenues, By Voltage, 2020-2030F |
14.3 Japan Protective Relay Market Revenues, By End Users, 2020-2030F |
14.4 Japan Protective Relay Market Revenues, By Applications, 2020-2030F |
15. Australia Protective Relay Market Overview |
15.1 Australia Protective Relay Market Revenues, 2020-2030F |
15.2 Australia Protective Relay Market Revenues, By Voltage, 2020-2030F |
15.3 Australia Protective Relay Market Revenues, By End Users, 2020-2030F |
15.4 Australia Protective Relay Market Revenues, By Applications, 2020-2030F |
16. Rest of Asia Pacific Protective Relay Market Overview |
16.1 Rest of Asia Pacific Protective Relay Market Revenues, 2020-2030F |
17. Asia Pacific Protective Relay Market Key Performance Indicators |
18. Asia Pacific Protective Relay Market Opportunity Assessment |
18.1 Asia Pacific Protective Relay Market Opportunity Assessment, By Voltage, 2030F |
18.2 Asia Pacific Protective Relay Market Opportunity Assessment, By End Users, 2030F |
18.3 Asia Pacific Protective Relay Market Opportunity Assessment, By Applications, 2030F |
19. Asia Pacific Protective Relay Market Competitive Landscape |
19.1 Asia Pacific Protective Relay Market Revenue Share, By Companies, 2023 |
19.1.1 Thailand Protective Relay Market Revenue Share, By Companies, 2023 |
19.1.2 Malaysia Protective Relay Market Revenue Share, By Companies, 2023 |
19.1.3 Indonesia Protective Relay Market Revenue Share, By Companies, 2023 |
19.1.4 Japan Protective Relay Market Revenue Share, By Companies, 2023 |
19.1.5 India Protective Relay Market Revenue Share, By Companies, 2023 |
19.1.6 China Protective Relay Market Revenue Share, By Companies, 2023 |
19.1.7 Australia Protective Relay Market Revenue Share, By Companies, 2023 |
19.2 Asia Pacific Protective Relay Market Competitive Benchmarking, By Operating Parameters |
20. Company Profiles |
21. Key Recommendations |
22. Disclaimer |