Global Protective Relay Market
Protective Relay Market size is estimated at USD 3.36 Billion in 2024 and is expected to reach USD 7.12 Billion by the end of 2037, growing at around 6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of protective relay is evaluated at USD 3.36 Billion.
The demand for protective relay is set to be influenced by the expansion of the renewable energy infrastructure to detect any dangerous, or intolerable conditions. As per a report published by the International Energy Agency, the capacity of renewable energy in 2023 increased by 50% in contrast to 2022 across the globe. Consequently, the adoption of protective relay is poised to rise.
Author Credits: Abhishek Verma
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