Digital Protective Relay Market Share

APAC Market Statistics

On the basis of geographical analysis, the digital protective relay market is segmented into five major regions, including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Asia Pacific industry is set to hold largest revenue share by 2036, owing to presence of large manufacturing hubs and densely populated regions which require stable electricity throughout the day. Another factors evaluated to drive growth to the market in this region is rising focus on substation automation under IEC 61850 standard along with developed grid infrastructure activities, and increasing demand for improved energy solutions. Surging infrastructural developments in countries such as India and China are further expected to provide lucrative opportunities to key players in the region in the near future.