Market Overview:
The global overcurrent 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 overcurrent relays in automotive, industrial, communications, and household appliance applications. Additionally, the growing demand for smart grid technologies is also expected to drive the growth of the global overcurrent relays market during the forecast period. The unit type protection segment is expected to dominate the global overcurrent relays market during the forecast period. This segment is projected to grow at a CAGR of 5.8% from 2018 to 2030 due to its high adoption in automotive and industrial applications.
Product Definition:
An overcurrent relay is a type of relay that is used to protect an electrical circuit from being overloaded. An overcurrent relay monitors the current in a circuit and will activate when the current exceeds a set limit. This will cause the circuit to be shut down, preventing it from being overloaded.
Unit Type Protection:
Units type protection is a device used to protect the unit from overload, short circuit and over current. It's major function is to prevent damage of the electrical components in case of an abnormal situation. The normal operation of units type protection devices depends on temperature, load and time factors.
Non Unit Type Protection:
Non unit type protection is a method used to reduce the risk of damage to electrical equipment caused by high short circuits and overcurrent situations. It does this by providing additional insulation between the equipment and its environment.
The primary function of non unit type protection is to provide additional insulation between the equipment and its environment, thereby reducing the risk of damage caused by high short circuits as well as overcurrent situations.
Application Insights:
The automotive application segment accounted for the largest revenue share of over 30% in 2017. The growing demand for electric and hybrid vehicles is expected to drive the demand for OCRs in this application segment. In addition, increasing production capacities of passenger cars in emerging economies such as China, India and Brazil is anticipated to augment market growth over the forecast period.
The industrial application segment accounted for a significant revenue share owing to rising use of OCRs across power generation plants, petrochemical facilities and oil & gas refineries among others.
Regional Analysis:
Asia Pacific is expected to be the largest and fastest-growing regional market over the forecast period. The growth can be attributed to increasing manufacturing activities in various end-use industries across countries such as China, India, Japan, and South Korea. Rapid industrialization coupled with improving infrastructure in these economies is anticipated to drive demand for OHRs over the next eight years.
The Asia Pacific region accounted for a revenue share of more than 30% in 2017 owing to its large manufacturing base of automotive and consumer appliances among others. Moreover, rising construction activities due to growing urbanization are also driving product demand across this region which will further boost market growth during the forecast period. Increasing number of power outages due to storms or natural calamities has become a part of life that drives people toward buying Overcurrent Relays (OCR) products that can prevent damage caused by short circuits or overloads caused by sudden increase/decrease in electricity supply/demand.
Growth Factors:
- Increasing demand for overcurrent relays from the automotive industry as a result of the increasing production of electric and hybrid vehicles.
- Growing demand for overcurrent relays from the renewable energy sector due to the increasing installation of solar and wind power plants.
- Rising demand for overcurrent relays in data centers and telecom infrastructure due to the growing use of electronic equipment and communication networks.
- Increasing adoption of overcurrent relays in smart grids to improve grid reliability and efficiency.
- Growing popularity of microgrid systems that use distributed generation sources such as solar PV, wind turbines, or diesel generators, which require protection against overloads and short-circuits by using over current relays
Scope Of The Report
Report Attributes
Report Details
Report Title
Overcurrent Relays Market Research Report
By Type
Unit Type Protection, Non Unit Type Protection
By Application
Automotive, Industrial, Communications, Household Appliance, Others
By Companies
ABB, Siemens, Omron, Eaton, Banner, Merlin Gerin, C&S Electric, Schneider Electric, Broyce Control, Basler Electric, ABB, PHOENIX CONTACT, TE Connectivity, Honeywell, Finder, Hella
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
248
Number of Tables & Figures
174
Customization Available
Yes, the report can be customized as per your need.
Global Overcurrent Relays Market Report Segments:
The global Overcurrent Relays market is segmented on the basis of:
Types
Unit Type Protection, Non Unit Type Protection
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
Automotive, Industrial, Communications, Household Appliance, 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
- Siemens
- Omron
- Eaton
- Banner
- Merlin Gerin
- C&S Electric
- Schneider Electric
- Broyce Control
- Basler Electric
- ABB
- PHOENIX CONTACT
- TE Connectivity
- Honeywell
- Finder
- Hella
Highlights of The Overcurrent 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:
- Unit Type Protection
- Non Unit Type Protection
- By Application:
- Automotive
- Industrial
- Communications
- Household Appliance
- 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 Overcurrent 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.
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- Correctly Positioning New Products
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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?
Overcurrent relays are devices that help protect electrical equipment from overloads. When an overload occurs, the relay will open and allow current to flow through the circuit in order to reduce the potential for damage.
Some of the key players operating in the overcurrent relays market are ABB, Siemens, Omron, Eaton, Banner, Merlin Gerin, C&S Electric, Schneider Electric, Broyce Control, Basler Electric, ABB, PHOENIX CONTACT, TE Connectivity, Honeywell, Finder, Hella.
The overcurrent relays market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Overcurrent 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 Overcurrent Relays Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Overcurrent 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 Overcurrent 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 Overcurrent Relays Market Size & Forecast, 2018-2028
4.5.1 Overcurrent Relays Market Size and Y-o-Y Growth
4.5.2 Overcurrent Relays Market Absolute $ Opportunity
Chapter 5 Global Overcurrent Relays 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 Overcurrent Relays Market Size Forecast by Type
5.2.1 Unit Type Protection
5.2.2 Non Unit Type Protection
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Overcurrent Relays 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 Overcurrent Relays Market Size Forecast by Applications
6.2.1 Automotive
6.2.2 Industrial
6.2.3 Communications
6.2.4 Household Appliance
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Overcurrent 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 Overcurrent 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 Overcurrent Relays Analysis and Forecast
9.1 Introduction
9.2 North America Overcurrent Relays 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 Overcurrent Relays Market Size Forecast by Type
9.6.1 Unit Type Protection
9.6.2 Non Unit Type Protection
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 Overcurrent Relays Market Size Forecast by Applications
9.10.1 Automotive
9.10.2 Industrial
9.10.3 Communications
9.10.4 Household Appliance
9.10.5 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 Overcurrent Relays Analysis and Forecast
10.1 Introduction
10.2 Europe Overcurrent Relays 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 Overcurrent Relays Market Size Forecast by Type
10.6.1 Unit Type Protection
10.6.2 Non Unit Type Protection
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 Overcurrent Relays Market Size Forecast by Applications
10.10.1 Automotive
10.10.2 Industrial
10.10.3 Communications
10.10.4 Household Appliance
10.10.5 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 Overcurrent Relays Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Overcurrent Relays 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 Overcurrent Relays Market Size Forecast by Type
11.6.1 Unit Type Protection
11.6.2 Non Unit Type Protection
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 Overcurrent Relays Market Size Forecast by Applications
11.10.1 Automotive
11.10.2 Industrial
11.10.3 Communications
11.10.4 Household Appliance
11.10.5 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 Overcurrent Relays Analysis and Forecast
12.1 Introduction
12.2 Latin America Overcurrent Relays 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 Overcurrent Relays Market Size Forecast by Type
12.6.1 Unit Type Protection
12.6.2 Non Unit Type Protection
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 Overcurrent Relays Market Size Forecast by Applications
12.10.1 Automotive
12.10.2 Industrial
12.10.3 Communications
12.10.4 Household Appliance
12.10.5 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) Overcurrent Relays Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Overcurrent Relays 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) Overcurrent Relays Market Size Forecast by Type
13.6.1 Unit Type Protection
13.6.2 Non Unit Type Protection
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) Overcurrent Relays Market Size Forecast by Applications
13.10.1 Automotive
13.10.2 Industrial
13.10.3 Communications
13.10.4 Household Appliance
13.10.5 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 Overcurrent Relays Market: Competitive Dashboard
14.2 Global Overcurrent Relays Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 Siemens
14.3.3 Omron
14.3.4 Eaton
14.3.5 Banner
14.3.6 Merlin Gerin
14.3.7 C&S Electric
14.3.8 Schneider Electric
14.3.9 Broyce Control
14.3.10 Basler Electric
14.3.11 ABB
14.3.12 PHOENIX CONTACT
14.3.13 TE Connectivity
14.3.14 Honeywell
14.3.15 Finder
14.3.16 Hella
