According to a market report by Lucintel, the future of the global overcurrent protection relay market looks promising with opportunities in the motor, transformer, line, distribution, generator, and feeder markets. The global overcurrent protection relay market is expected to reach an estimated $1.7 billion by 2030 from $1.2 billion in 2024,at a CAGR of 5.7% from 2024 to 2030. The major drivers for this market are on-going expansion and modernization of electrical infrastructure and increasing adoption of renewable energy sources across the globe.A more than 150-page report to understand trends, opportunity and forecast in overcurrent protection relay market to 2030 by type (instantaneous, definite time, inverse time, and directional), application (motor, transformer, line, distribution, generator, and feeder), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that, within the type category, directional is expected to witness the highest growth over the forecast period due to its increasing application in a single point of failure is not acceptable like motor protection and transformer protection.
Within the application category, distribution is expected to remain the largest segment as is is used to protect electrical distribution systems from damage caused by overcurrent conditions like short circuits and overloads.
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In terms of region, APAC will remain the largest region during the forecast period due to growing investments in power infrastructure along with growing awareness of electrical safety in the region.
Ge Grid Solutions, Toshiba, Omron, Schneider Electric, Ekosinerji, Siemens, Eaton, C And S Electric, Basler Electric, Fanox Electronic are the major suppliers in the overcurrent protection relay market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]To get access of more than 1000 reports at fraction of cost visit Lucintel'sAnalytics Dashboard.
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1-972-636-5056
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