Digital Protective Relay Sector: Growth Drivers and Challenges
Growth Drivers
- Increasing Focus on Substation Automation and Transmission Infrastructure Development
- User-Friendliness of Digital Relays
Challenges
- Lack of Investments for Digital Protective Relays in Developing Economies
Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
Digital Protective Relay Market size is projected to grow at substantial growth rate during the forecast period i.e., between 2025-2037.
Increased focus on substation automation and transmission infrastructure development and user-friendliness of digital relays will propel the market growth.
Asia Pacific industry is poised to dominate majority revenue share by 2037, owing to presence of large manufacturing hubs and densely populated regions which require stable electricity throughout the day.
The major players in the market are Siemens company, ABB Ltd, Schneider Electric, General Electric, Nissin Electric Co., Ltd., and others.
