Global Voltage Monitoring Relays Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at xx% through 2019 to 2027, reaching US$ XX Mn.
Global Voltage Monitoring Relays Market
Global Voltage Monitoring Relays Market Overview:
Protective relays are also called voltage monitoring relays. Relay devices designed to activate a circuit breaker are known as voltage monitoring relays when a fault is found in the circuit. Voltage monitoring relays are protective relays that function inevitably when the phase sequence is reversed, or when one or more phases are missed by the three-phase supply. Only the primary indication of the origin and location of a fault is given by electromechanical relays. For most energy users, energy prices and the efficiency of an electrical grid are typically the main concerns. Industrial customers have to deal with complex rated systems that, given the complexity of the load, mainly involve deviating energy usage and varying power demand.
The increase in demand for reliable and safer power system voltage monitoring systems increases the market penetration of voltage monitoring relays. Moreover, it is expected that easy installation of voltage monitoring relays would drive market growth during the forecast period. Power network modernization and the rising demand for remote monitoring in the power sector are increasing at a remarkable pace, driving the growth of the market for voltage monitoring relays. The advent of voltage monitoring relays based on the Internet of Things (IoT) has contributed to a revolution in the market for global voltage monitoring relays. Suppliers have been motivated to use loT-based voltage monitoring relays by the need to gather real-time and historical data. Relays provide real-time circuit monitoring and also keep human machine interfaces (HMIs) vigilant in the event of a circuit problem, thus improving the use of voltage monitoring relays in the forecast era. In the maintenance of the circuit and attached equipment, IoT-based voltage monitoring relays also help. Real-time and historical data amalgamation assists in pattern detection of errors that occur in circuits. During the forecast period, an increase in the deployment of voltage monitoring relays in industries such as automotive, oil & gas, chemical, electricity, and water & wastewater treatment plants is expected to drive the growth of the market for voltage monitoring relays. For instance, Carlo Gavazzi launched new products to its portfolio included energy meters, miniature cicuit protectors, purpose contractors, voltage- phase monitoring relays during July 2019.
Based on Phase, Voltage Monitoring Relays market is segmented by Single Phase and Three Phase. Single Phase dominated voltage monitoring relays market with its multiple features such as easy connect technology push-in terminals, withstands highest vibrations, easy adjustments via front potentiometer, etc., are being used across different organizations. Based on end-user, utilities is the leading segment to dominate the market during the forecast period due to the new distribution network and grid expansion projects have been developed, old electromechanical protective relays have been replaced by new and more sophisticated numerical relays, substation automation for improved power quality and smart grids have been introduced for better grid management.
The key drivers are growing fast track digital data and enable to achieve insight into user behavior which motivates market development. Based on application, motor is the leading segment to dominate the market during the forecast period due to increasing industrial segment growth, primarily in the manufacturing (chemical, mining, energy) and increased commercial activities.
The voltage monitoring relays market in North America is anticipated to account for the highest revenue share contribution and projected to maintain its dominance in the target market during the forecast period. The attributing factor is due to increased IoT technology adoption in the region, boosting the market for voltage monitoring relays. The Asia Pacific region is projected to register the fastest growth rate in the target market due to surge in penetration of smartphones and digitalizing the infrastructure in the region.
Global Voltage Monitoring Relays Market1
The objective of the report is to present a comprehensive analysis of the Global Voltage Monitoring Relays Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Voltage Monitoring Relays Market dynamics, structure by analyzing the market segments and projects the Global Voltage Monitoring Relays Market size. Clear representation of competitive analysis of key players by Phase, price, financial position, Raw material portfolio, growth strategies, and regional presence in the Global Voltage Monitoring Relays Market make the report investor’s guide.
Scope of Global Voltage Monitoring Relays Market
Global Voltage Monitoring Relays Market, By Phase
• Single Phase
• Three Phase
Global Voltage Monitoring Relays Market, By End-User
Global Voltage Monitoring Relays Market, By Application
• Transmission line
Global Voltage Monitoring Relays Market, by Region
• North America
• ME & Africa
• Latin America
Global Voltage Monitoring Relays Market Key Players
• PHOENIX CONTACT
• OMRON Corporation
• Schneider Electric
• Littelfuse, Inc
• Schrack Technik Group
• Rockwell Automation, Inc.
• Wabtec Corporation (Mors Smitt)
• Pilz GmbH & Co. KG
• Novatek Electro
• Carlo Gavazzi Automation
• ETI Elektroelement d.o.o
• Bender India Private Limited
• E. Dold & Söhne KG
• ELKO EP
• OEM Automatic Ltd
Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Name: Vikas Godage
Organization: Maximize Market Research Pvt.Ltd.Pune
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