Market Overview:
The global current monitoring relays market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for current monitoring relays in industrial, commercial, and residential applications. Additionally, the growing awareness about safety and security is also propelling the growth of this market. The global current monitoring relays market can be segmented on the basis of type into under-current detection and over-current detection. The under-current detection segment is expected to hold a larger share of the global current monitoring relays market during the forecast period owing to its ability to detect even small currents that may cause damage or disruption in operations. On the basis of application,the global current monitoring relaysmarket can be divided into industrial use, commercial use, residential use, and others (including transportation and infrastructure).
Product Definition:
A current monitoring relay is a type of electrical relay that is used to detect and monitor the flow of electric current in a circuit. This type of relay can be used to protect against overloads or faults in the circuit.
Under-Current Detection:
Under-current detection is the technique of sensing current below the normal or average current that flows through an object. It is used in Current Monitoring Relays (CMR) to detect any fault in electrical conductors and cables. CMR are devices that are used for monitoring power, voltage, and frequency in electric networks.
Over-Current Detection:
Over-Current Detection (OCD) is a technique used to monitor the current flow in an electric circuit. It helps protect the equipment from overheating and arcing, which may cause fire or electrical damage.
Application Insights:
The industrial use segment dominated the global current monitoring relays market in 2017. This can be attributed to the rising demand for reliable and continuous monitoring of electrical currents from various industrial applications. The commercial use segment is expected to witness a significant growth rate over the forecast period owing to increasing number of power distribution stations, which are at high risk of being affected by electrical overloading or short-circuits due to low insulation resistance between conductors.
Residential use is projected to grow at a steady CAGR during the forecast period as consumers prefer products that offer easy installation with fewer wires and complex device connections along with advanced features such as remote access, mobile app control, real-time data viewing & alarms on smart devices etc. Furthermore, growing awareness about electricity safety among consumers is anticipated fuel product demand in residential applications during future years.
Others include healthcare facilities.
Regional Analysis:
North America dominated the global current monitoring relays market in terms of revenue share in 2016. The growth can be attributed to the presence of major players, technological advancements, and government initiatives. For instance, General Electric has collaborated with U.S. Coast Guard to develop a smart buoyant Current Sensor (CBS) that can be integrated with existing buoyant buoys and float-on sonar systems used for marine navigation as well as fish finders used by commercial fishing vessels operating off the U.
Asia Pacific is expected to grow at a lucrative rate over the forecast period owing to increasing demand from end-use industries such as oil & gas; power; manufacturing; transportation etc.
Growth Factors:
- Increasing demand for energy efficient systems in commercial and industrial sectors
- Rapid growth of data centers and telecommunications sector
- Rising concerns over safety and security of critical infrastructure
- Proliferation of smart grid technologies
- Growing popularity of renewable energy sources
Scope Of The Report
Report Attributes
Report Details
Report Title
Current Monitoring Relays Market Research Report
By Type
Under-Current Detection, Over-Current Detection
By Application
Industrial Use, Commercial Use, Residential Use, Others
By Companies
ABB, Eaton, Schneider Electric, OMRON, ELKO EP, Crouzet, PHOENIX CONTACT, Lovato Electric, ABB
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
200
Number of Tables & Figures
140
Customization Available
Yes, the report can be customized as per your need.
Global Current Monitoring Relays Market Report Segments:
The global Current Monitoring Relays market is segmented on the basis of:
Types
Under-Current Detection, Over-Current Detection
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Industrial Use, Commercial Use, Residential Use, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB
- Eaton
- Schneider Electric
- OMRON
- ELKO EP
- Crouzet
- PHOENIX CONTACT
- Lovato Electric
- ABB
Highlights of The Current Monitoring Relays Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Under-Current Detection
- Over-Current Detection
- By Application:
- Industrial Use
- Commercial Use
- Residential Use
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Current Monitoring Relays Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Current monitoring relays are used to monitor the current draw on an electrical system. They can be used to detect when a system is overloaded, or if there is a problem with the wiring in the system.
Some of the major players in the current monitoring relays market are ABB, Eaton, Schneider Electric, OMRON, ELKO EP, Crouzet, PHOENIX CONTACT, Lovato Electric, ABB.
The current monitoring relays market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Current Monitoring Relays Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Current Monitoring Relays Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Current Monitoring Relays Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Current Monitoring Relays Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Current Monitoring Relays Market Size & Forecast, 2020-2028
4.5.1 Current Monitoring Relays Market Size and Y-o-Y Growth
4.5.2 Current Monitoring Relays Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Under-Current Detection
5.2.2 Over-Current Detection
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Industrial Use
6.2.2 Commercial Use
6.2.3 Residential Use
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Current Monitoring Relays Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Current Monitoring Relays Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Under-Current Detection
9.6.2 Over-Current Detection
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Industrial Use
9.10.2 Commercial Use
9.10.3 Residential Use
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Under-Current Detection
10.6.2 Over-Current Detection
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Industrial Use
10.10.2 Commercial Use
10.10.3 Residential Use
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Under-Current Detection
11.6.2 Over-Current Detection
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Industrial Use
11.10.2 Commercial Use
11.10.3 Residential Use
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Under-Current Detection
12.6.2 Over-Current Detection
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Industrial Use
12.10.2 Commercial Use
12.10.3 Residential Use
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Under-Current Detection
13.6.2 Over-Current Detection
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Industrial Use
13.10.2 Commercial Use
13.10.3 Residential Use
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Current Monitoring Relays Market: Competitive Dashboard
14.2 Global Current Monitoring Relays Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 Eaton
14.3.3 Schneider Electric
14.3.4 OMRON
14.3.5 ELKO EP
14.3.6 Crouzet
14.3.7 PHOENIX CONTACT
14.3.8 Lovato Electric
14.3.9 ABB
