Medium and High Voltage Protective Relay: Global Market Size, Segmentation

Aug. 23, 2012 - PRLog -- On-going economic expansion and urbanization across Brazil, Russia, India and China (BRIC) are expected to be the major drivers for growth in the global medium and high voltage (MVHV) protective relay market, states a new report by power industry analysts GlobalData.

The company’s latest research* talks in-depth about the important part played by developing countries in the global protective relay industry, which is expected to more than double in value before the end of the decade, from a 2011 valuation of $2.2 billion to $5.2 billion by 2020.

The massive industrialization of countries such as China and India has led to the increased demand for electricity. Correspondingly, power grid improvements involving the wide-spread employment of protective relay instalments have been necessary, sustaining the global market.

China alone accounted for 27% of the worldwide MVHV protective relay industry in 2011 and GlobalData predicts this share to grow substantially. According to the industry experts, the Chinese portion of the market will swell from a $705m 2012 valuation, to a huge $2.1 billion by 2020, representing a Compound Annual Growth Rate (CAGR) climb of 14.9%.

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In comparison, the US protective relay industry is expected to display relatively modest growth, from $566m in 2012 to $777m by 2020, at a CAGR of 4%.

Cumulatively, power consumption in the BRIC nations increased at a CAGR of 7.9% during the period 2006-2011, and is forecast to continue at a CAGR of 6% from 2012 to 2020 – outstripping the predicted global growth rate of 4%.

GlobalData’s report explains that while market growth in the developing nations will be served by new protective relay installations, mature markets such as the US, Germany and the UK will be driven by the retrofit and replacement sectors. These countries have a higher share of aged equipment that require upgrading in order to meet stricter emission regulations and support renewable power generation.

This report gives detailed information on the medium and high voltage protective relay market, focusing both on global and key country markets, drivers and restraints, revenue forecast to 2020 and competitive landscape analysis are covered for the global market

This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts.

GlobalData is a leading global business intelligence provider offering advanced analytics to help clients make better, more informed decisions every day. Our research and analysis is based on the expert knowledge of over 700 qualified business analysts and 25,000 interviews conducted with industry insiders every year, enabling us to offer the most relevant, reliable and actionable strategic business intelligence available for a wide range of industries.

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