Digital Protective Relay Market Analysis

The market can be segmented by end use into industrial, infrastructure, power, government and others. Out of these, the power segment is expected to witness a significant growth over the forecast period owing to the rise in the use of digital protective relay in various platforms including transformers, bus bars, and high voltage substations, and hike in power production capacity worldwide. Moreover, based on voltage, the medium voltage segment is assessed to account for the largest market share by the end of 2029, on the back of growing usage of medium voltage relays in substations and power systems and increasing demand for enhanced residential infrastructure. Additionally, on the basis of application, the motor protection segment is expected to witness the highest growth in the coming years, which can be credited to the growth of the commercial sector and surge in the manufacturing capacity of the world, especially in Asia Pacific. 

Our in-depth analysis of the global market includes the following segments