Digital Protective Relay Market Size

Digital Protective Relay Market size is projected to grow at substantial growth rate during the forecast period i.e., between 2024-2036 which can be attributed to the rising demand for electricity globally, and the growing requirement for safe distribution channels and electricity supply through transmission lines across a different network. 

Since 2010 to 2018, the total energy supply has only witnessed a hike, with the quantity being more than 12.5 million ktoe in the latter and approximately 15 million ktoe in the former year. Along with these, increasing emphasis on substation automation and transmission infrastructure development is also estimated to drive growth to the market in the coming years. Moreover, the compactness and user friendliness of digital relays is expected to offer lucrative opportunities to the market growth over the forecast period.