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Protective Relay Market Share

  • Report ID: GMI7941
  • Published Date: Jan 2024
  • Report Format: PDF

Protective Relay Market Share

ABB Ltd. and Siemens AG hold a significant market share of over 25% in the protective relay industry. ABB offers a comprehensive range of protective relays catering to various applications and industries. The diverse product portfolio includes advanced digital relays, motor protection relays, feeder protection relays, and more, meeting the needs of a wide customer base.

Siemens places a strong emphasis on digitalization and connectivity in its protective relay offerings. The integration of communication capabilities, data analytics, and remote monitoring features enhances the functionality of Siemens' protective relays, supporting utilities and industries in their efforts towards digital transformation. This helps the company to get a competitive advantage in the market.

Protective Relay Market Companies

Major players operating in the protective relay industry are:

  • ABB Ltd.
  • Siemens AG
  • Schneider Electric SE
  • Schweitzer Engineering Laboratories, Inc.
  • Eaton Corporation Plc.
  • Mitsubishi Electric Corporation
  • Toshiba Corporation
  • Larson & Toubro Limited
  • NR Electric Co., Ltd.
  • Rockwell Automation Inc.
Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Industry size for protective relay surpassed USD 2.5 billion in revenue in 2023 and is set to expand at over 5% CAGR from 2024 to 2032 attributed to the ongoing grid modernization and smart grid initiatives globally.

Low-voltage protective relay industry size is anticipated to grow at over 5% CAGR from 2024-2032 owing to the extensive usage in residential and commercial applications for protecting electrical systems at voltages typically up to 1 kV.

Asia Pacific held more than 30% revenue share of the protective relay market in 2023 and is poised to exhibit robust growth through 2032 owing to rapid industrialization and urbanization, leading to an increased demand for electricity in the region

Some of the leading protective relay companies are FANOX ELECTRONIC, SL, Schneider Electric SE, Toshiba Corporation, Eaton Corporation Plc., ABB Ltd., Siemens AG, Schweitzer Engineering Laboratories, Inc., Larson & Toubro Limited, NR Electric Co., Ltd., and Rockwell Automation Inc.

Protective Relay Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 333
  • Countries covered: 21
  • Pages: 250
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