Market Overview:
The global overcurrent protection relay 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 protection relays in various applications, such as motor protection, transformer protection, line protection, and distribution protection. In addition, the growing awareness about safety and security is also propelling the growth of this market. The instantaneousover current relays are expected to hold a major share of this market duringthe forecast period owingto their high sensitivityand quick response time.
Product Definition:
An overcurrent protection relay is a device that monitors the flow of electricity through a system and trips the circuit breaker if it detects an overload. This relay is important because it helps protect equipment from damage caused by too much current.
Instantaneous Overcurrent Relay:
Instantaneous overcurrent relay is a device used to interrupt the current flow in an electrical network, when the load is heavier than the capacity of the circuit. The IOR uses a magnetic pickup coil to detect any abnormal current flow in an electric network and automatically opens a protective relay, diverting excess current from its path.
The global instantaneously overcurrent relay market size was valued at USD 817.1 million in 2016.
Definite Time Overcurrent Relay:
The definite time overcurrent relay is a device used to interrupt the current flow in an electric circuit when the load is greater than or equal to the current rating of the device. It works on a time delay mechanism, which makes sure that no damage occurs before the designated time interval has elapsed. The main function of this devise includes interrupting and removing electrical loads above a specific current level from normal operation.
Application Insights:
The motor protection application segment led the global overcurrent protection relay market in 2017 and is projected to expand at a CAGR of XX% from 2018 to 2030. The growing demand for electric motors coupled with rising industrialization has resulted in an increased number of installations across various industries, which is expected to drive the product demand over the forecast period.
transformer protection application segment accounted for USD 536.6 million in 2017 and is anticipated to witness significant growth during the forecast period owing to increasing installation of transformers across various industries, such as power generation, oil & gas, etc., which requires protective relays along with them.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to rising demand for motor protection, transformer protection, and distribution line protection devices in countries such as China and India. In addition, increasing number of power outages due to storms and natural calamities are driving consumers towards reliable solutions for uninterrupted power supply. This will drive the demand further in this region.
The Middle East & Africa is also likely to witness significant growth over the next eight years owing to growing infrastructure development projects by various governments across countries such as Saudi Arabia and UAE that require constant maintenance of high voltage lines along with other transformers or circuit breakers associated with it for proper operation of electrical equipment/machinery/lighting systems etc., thereby driving OERP market growth in this region.
Growth Factors:
- Increasing demand for overcurrent protection relay from end-use industries such as automotive, telecommunication, and electrical and electronics
- Growing awareness about the benefits of using overcurrent protection relay in various industrial applications
- Rising investments in research and development activities for the enhancement of product features
- Proliferation of smart grids that need efficient overcurrent protection relay for better performance
- Technological advancements in the field of relays that are helping to improve their efficiency
Scope Of The Report
Report Attributes
Report Details
Report Title
Overcurrent Protection Relay Market Research Report
By Type
Instantaneous Overcurrent Relay, Definite Time Overcurrent Relay, Inverse Time Overcurrent Relay, Directional Overcurrent Relay
By Application
Motor Protection, Transformer Protection, Line Protection, Distribution Protection
By Companies
Toshiba, OMRON, Schneider Electric, EKOSinerji, Siemens, GE Grid Solutions, TI, Eaton, C and S Electric, Basler Electric, Fanox Electronic, Fuji Electric, Beckwith Electric, SEL
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
234
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Overcurrent Protection Relay Market Report Segments:
The global Overcurrent Protection Relay market is segmented on the basis of:
Types
Instantaneous Overcurrent Relay, Definite Time Overcurrent Relay, Inverse Time Overcurrent Relay, Directional Overcurrent Relay
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
Motor Protection, Transformer Protection, Line Protection, Distribution Protection
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:
- Toshiba
- OMRON
- Schneider Electric
- EKOSinerji
- Siemens
- GE Grid Solutions
- TI
- Eaton
- C and S Electric
- Basler Electric
- Fanox Electronic
- Fuji Electric
- Beckwith Electric
- SEL
Highlights of The Overcurrent Protection Relay 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:
- Instantaneous Overcurrent Relay
- Definite Time Overcurrent Relay
- Inverse Time Overcurrent Relay
- Directional Overcurrent Relay
- By Application:
- Motor Protection
- Transformer Protection
- Line Protection
- Distribution Protection
- 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 Protection Relay 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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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?
An overcurrent protection relay is a safety device that helps protect electrical equipment from overloads or short circuits. When an overload or short circuit occurs, the relay will activate and interrupt the power to the affected devices.
Some of the major companies in the overcurrent protection relay market are Toshiba, OMRON, Schneider Electric, EKOSinerji, Siemens, GE Grid Solutions, TI, Eaton, C and S Electric, Basler Electric, Fanox Electronic, Fuji Electric, Beckwith Electric, SEL.
The overcurrent protection relay market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Overcurrent Protection Relay Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Overcurrent Protection Relay Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Overcurrent Protection Relay Market - Supply Chain
4.5. Global Overcurrent Protection Relay Market Forecast
4.5.1. Overcurrent Protection Relay Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Overcurrent Protection Relay Market Size (000 Units) and Y-o-Y Growth
4.5.3. Overcurrent Protection Relay Market Absolute $ Opportunity
5. Global Overcurrent Protection Relay Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Overcurrent Protection Relay Market Size and Volume Forecast by Type
5.3.1. Instantaneous Overcurrent Relay
5.3.2. Definite Time Overcurrent Relay
5.3.3. Inverse Time Overcurrent Relay
5.3.4. Directional Overcurrent Relay
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Overcurrent Protection Relay Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Overcurrent Protection Relay Market Size and Volume Forecast by Application
6.3.1. Motor Protection
6.3.2. Transformer Protection
6.3.3. Line Protection
6.3.4. Distribution Protection
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Overcurrent Protection Relay Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Overcurrent Protection Relay Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Overcurrent Protection Relay Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Overcurrent Protection Relay Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Overcurrent Protection Relay Demand Share Forecast, 2019-2026
9. North America Overcurrent Protection Relay Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Overcurrent Protection Relay Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Overcurrent Protection Relay Market Size and Volume Forecast by Application
9.4.1. Motor Protection
9.4.2. Transformer Protection
9.4.3. Line Protection
9.4.4. Distribution Protection
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Overcurrent Protection Relay Market Size and Volume Forecast by Type
9.7.1. Instantaneous Overcurrent Relay
9.7.2. Definite Time Overcurrent Relay
9.7.3. Inverse Time Overcurrent Relay
9.7.4. Directional Overcurrent Relay
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Overcurrent Protection Relay Demand Share Forecast, 2019-2026
10. Latin America Overcurrent Protection Relay Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Overcurrent Protection Relay Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Overcurrent Protection Relay Market Size and Volume Forecast by Application
10.4.1. Motor Protection
10.4.2. Transformer Protection
10.4.3. Line Protection
10.4.4. Distribution Protection
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Overcurrent Protection Relay Market Size and Volume Forecast by Type
10.7.1. Instantaneous Overcurrent Relay
10.7.2. Definite Time Overcurrent Relay
10.7.3. Inverse Time Overcurrent Relay
10.7.4. Directional Overcurrent Relay
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Overcurrent Protection Relay Demand Share Forecast, 2019-2026
11. Europe Overcurrent Protection Relay Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Overcurrent Protection Relay Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Overcurrent Protection Relay Market Size and Volume Forecast by Application
11.4.1. Motor Protection
11.4.2. Transformer Protection
11.4.3. Line Protection
11.4.4. Distribution Protection
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Overcurrent Protection Relay Market Size and Volume Forecast by Type
11.7.1. Instantaneous OvercurrentRelay
11.7.2. Definite Time Overcurrent Relay
11.7.3. Inverse Time Overcurrent Relay
11.7.4. Directional Overcurrent Relay
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Overcurrent Protection Relay Demand Share, 2019-2026
12. Asia Pacific Overcurrent Protection Relay Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Overcurrent Protection Relay Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Overcurrent Protection Relay Market Size and Volume Forecast by Application
12.4.1. Motor Protection
12.4.2. Transformer Protection
12.4.3. Line Protection
12.4.4. Distribution Protection
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Overcurrent Protection Relay Market Size and Volume Forecast by Type
12.7.1. Instantaneous Overcurrent Relay
12.7.2. Definite Time Overcurrent Relay
12.7.3. Inverse Time Overcurrent Relay
12.7.4. Directional Overcurrent Relay
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Overcurrent Protection Relay Demand Share, 2019-2026
13. Middle East & Africa Overcurrent Protection Relay Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Overcurrent Protection Relay Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Overcurrent Protection Relay Market Size and Volume Forecast by Application
13.4.1. Motor Protection
13.4.2. Transformer Protection
13.4.3. Line Protection
13.4.4. Distribution Protection
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Overcurrent Protection Relay Market Size and Volume Forecast by Type
13.7.1. Instantaneous Overcurrent Relay
13.7.2. Definite Time Overcurrent Relay
13.7.3. Inverse Time Overcurrent Relay
13.7.4. Directional Overcurrent Relay
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Overcurrent Protection Relay Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Overcurrent Protection Relay Market: Market Share Analysis
14.2. Overcurrent Protection Relay Distributors and Customers
14.3. Overcurrent Protection Relay Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Toshiba
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. OMRON
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Schneider Electric
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. EKOSinerji
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Siemens
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. GE Grid Solutions
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. TI
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Eaton
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. C and S Electric
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Basler Electric
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Fanox Electronic
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Fuji Electric
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Beckwith Electric
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. SEL
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
