According to a newly published IndustryARC report, the global protective relay market revenue was estimated as $3,320.57m in 2018, propelled by increase in global electricity consumption and rising trend of renewable energy production.

Modern power grid systems concentrate on providing effective electricity supply and distribution for commercial and domestic utilities, which are prone to voltage fluctuation and electric flow disparity.

Consequently, triggering high demand for protective relays to minimize electrical hazards due to over-current, over-voltage, and under-frequency, across the globe.

The analyst highlights that owing to the aforementioned factors, Europe contributed a regional share of 32.2% in 2018.

With a surge in electricity consumption and clean energy application in several industrial firms coupled with huge government investment in energy sector, Europe experienced a boost demand of protective relays.The report is titled “Protective Relay Market: By Function (Overcurrent Relay, Distance Relay, Others); By Operation Mechanism (Electromechanical, Static, Digital/Numerical); By Application (Feeders, motors, Generators, Others); & By Geography - Forecast (2019-2025).” It explains in detail that the market policies aligning with effective technological advent will boost the market growth along with calculated statistical output for the market vendors.The report covers Protective Relay Market size by type and applications, Protective Relay Market share by top 5 companies and also the market share by start-ups during the forecast period.View Full Table of Contents of Protective Relay Market:https://www.industryarc.com/Report/15251/protective-relay-market.htmlReport Price (Single User): US $3850Global Protective Relay Market: Competitive LandscapeAs per the above mentioned report, generators segment is expected to grow with high application CAGR of 4.6%, during the forecast period.

Additionally, changing lifestyle and increasing dependency on electronic and electrical products will support the protective relay market growth, which will grow at 3.3% CAGR through to 2025.The report discusses elaborately about the key companies, their achievements, and comparative revenue statistics which include Toshiba, Siemens, Little Fuse, Woodward, Eaton, General Electric, ABB Corp., Schweitzer Engineering Laboratories, and Schneider.Schweitzer Engineering Laboratories manufacture several electrical components which is helpful in power management and protection, providing safe and reliable power systems, and also minimizes power failure in residential or commercial areas.