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BRIC Nations to Build Up Global Protective Relay Market
The company’s latest research, "Medium and High Voltage Protective Relay: Global Market Size, Segmentation and Competitive Landscape Analysis to 2020" 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%.
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%.
For more information or to buy the report please visit
Page Updated Last on: Sep 17, 2013