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

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

In the year 2021, the USA  was the largest exporter in terms of value, followed by China. It has registered a growth of 9.2% over the previous year. While China registered a growth of 25.52% as compared to the previous year. In the year 2017, the USA was the largest exporter followed by China. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, Mexico has a Herfindahl index of 2179 in 2017 which signifies moderately concentrated also in 2021 it registered a Herfindahl index of  2358 which signifies moderately concentrated in the market.

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

The Mexico 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.

Mexico Protective Relay Market Synopsis

The Mexico Protective Relay Market is anticipated to attain a tremendous growth rate during the forecast period due to the infrastructure development as well as faster urbanization happening across the nation. The need for robust protective relays has become vital for new buildings, industries, and smart cities.

According to 6Wresearch, the Mexico Protective Relay Market size is predicted to rise higher during 2023–2029. The sector in the nation is rising and it will gain major growth in the years to come. The rapid urbanization and infrastructure development that is taking place across the country leading to a growth in demand for efficient as well as reliable power distribution systems. In the country, there is a rise in smart cities, industries, and new buildings, which also fuel the Mexico Protective Relay Market Growth. Moreover, with a growing focus on renewable energy sources such as wind and solar power, the integration of intermittent energy generation systems into the grid poses challenges for the market. This sector has been playing a crucial role in the rising economy of the country and it will support the country more in its future growth.

COVID-19 Impact on Mexico Protective Relay Industry

There is no wonder that the COVID-19 pandemic affected the market in many ways. The pandemic affected almost every industry in the world. There was a disruption in supply chains when the pandemic hit the country and it affected negatively on the market success. A number of companies running in this market had to shut down their businesses since there was a huge reduction in demand for these protective relays in the nation. There was also a decrease in investment and this affected the growth of the market significantly. The Protective Relay Market in Mexico is now growing and it will continue to rise in the future.

Key Players Operating in the Mexico Protective Relay Market

Some of the most prominent players running their business in the market are:

• ABB Ltd.
• Siemens AG
• Alstom SA
• Mitsubishi Electric Corporation
• Schneider Electric SE
• General Electric Company

Market by Technology

On the basis of technology, the market is divided into Digital & Numerical Relays and Electromechanical & Static Relays. It is the digital and numerical relay segment that will propel more in this sector due to the rising focus on transmission infrastructure development, and substation automation.

Market by Application

According to Nitesh Kumar, Research Manager, 6Wresearch, the motor segment in terms of application is estimated to grow in the years to come. The rise in the industrial segment, especially in the manufacturing sector in nations like Japan, India, South Korea, and China, and a rise in commercial activities are expected to fuel the demand for this segment.

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:

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

Mexico Protective Relay Market: FAQs