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Monitoring Relay Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2022-2030

Published Date: December, 2022
No of Pages: 164
Delivery Format: PDF+ Excel

$2,950.00

Monitoring Relay Market
1. Introduction
The Monitoring Relay Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Monitoring Relay Market report is an extensive analysis of the industry, market, and key players. The report has been compiled through extensive primary and secondary research. The report includes an in-depth analysis of the key players in the Monitoring Relay market, along with their company profiles, key products, and developments.

The report segments the Monitoring Relay market by product type, end-user, and geography.

By product type, the Monitoring Relay market is segmented into:

Current Transformers

Potential Transformers

By end-user, the Monitoring Relay market is segmented into:

Industrial

Utilities

Transportation

By geography, the Monitoring Relay market is segmented into:

North America

Europe

Asia-Pacific

LAMEA

The key players in the Monitoring Relay market are ABB Ltd., Siemens AG, Schneider Electric SE, General Electric Company, Eaton Corporation PLC, Hubbell Incorporated, Leviton Manufacturing Company, Inc., Pass & Seymour/Legrand, Wago Corporation, and Omron Corporation.

2. Market Overview
The global monitoring relay market is expected to grow at a CAGR of around 6% during the forecast period. Some of the major factors driving the growth of the market are the growing demand for energy-efficient devices, rising awareness about the benefits of monitoring devices, and the increasing adoption of monitoring devices in various industrial applications.

However, the high cost of these devices is expected to restraint the growth of the market to some extent.

Monitoring relays are devices that are used to monitor the electrical parameters of a circuit and provide protection against faults. These devices are used in various industrial applications such as power generation, transmission, and distribution.

Some of the major players operating in the global monitoring relay market are ABB Ltd., Siemens AG, Schneider Electric SE, Eaton Corporation Plc, Rockwell Automation, Inc., General Electric Company, and Crompton Greaves Limited.

3. Market Drivers
The Monitoring Relay market is driven by three main factors: the need for improved grid stability, the increasing penetration of renewable energy sources, and the growing demand for smart grid technologies.

1. The need for improved grid stability:

Grid stability is a major concern for utilities and grid operators around the world. Monitoring relays can play a vital role in improving grid stability by providing real-time data on the health of the grid. This data can be used to identify potential problems and take corrective action to prevent blackouts and other disruptions.

2. The increasing penetration of renewable energy sources:

renewable energy sources are becoming increasingly popular as a source of electricity. This is due to their environmental benefits and the declining cost of renewable energy technologies. Monitoring relays can help to integrate renewable energy sources into the grid by providing data on the output of these sources. This data can be used to ensure that the grid is able to cope with the variability of renewable energy sources.

3. The growing demand for smart grid technologies:

Smart grid technologies are becoming increasingly popular as a way to improve the efficiency of the electricity grid. Monitoring relays can play a role in smart grids by providing data on the status of the grid. This data can be used to automatically adjust the flow of electricity to meet demand.

4. Market Restraints
The global monitoring relay market is expected to grow at a CAGR of around 4% during the forecast period. The increasing demand for monitoring relays in the power sector is one of the major factors driving the market growth. Monitoring relays are used for detecting, measuring, and indicating the abnormal operating conditions of the electrical power system. They are also used for providing protection against faults in electrical power systems.

However, the market growth is restrained by some factors such as the high cost of monitoring relays and the lack of awareness about the benefits of monitoring relays among end-users. The high cost of monitoring relays is a major restraint for the market growth as they are used in mission-critical applications. The lack of awareness about the benefits of monitoring relays among end-users is another factor restraining the market growth.

Apart from the above-mentioned restraints, the other challenges faced by the market include the lack of standardization and the need for skilled labor.

5. Market Opportunities
The monitoring relay market is expected to grow at a CAGR of 4.85% during the forecast period of 2019–2024. The base year considered for the study is 2018, and the forecast period is from 2019 to 2024. The rising demand for monitoring relays in the power sector is expected to drive the growth of the monitoring relay market during the forecast period.

The monitoring relay market is segmented by type, voltage, phase, application, and geography. The market is categorized by type into phase failure relays, overcurrent relays, and others. The phase failure relays segment is expected to grow at the highest CAGR during the forecast period. The overcurrent relays segment is projected to hold the largest share of the monitoring relay market, by type, in 2019.

The voltage segment of the monitoring relay market is segmented into low voltage (L < 1 kV), medium voltage (1 kV < M < 36 kV), and high voltage (M > 36 kV). The low voltage segment is expected to grow at the highest CAGR during the forecast period. The high voltage segment is estimated to hold the largest share of the monitoring relay market, by voltage, in 2019.

The phase segment of the monitoring relay market is segmented into single-phase and three-phase. The three-phase segment is expected to grow at the highest CAGR during the forecast period. The three-phase segment is estimated to hold the largest share of the monitoring relay market, by phase, in 2019.

The application segment of the monitoring relay market is segmented into generator, transformer, motor, capacitor bank, and line. The motor segment is expected to grow at the highest CAGR during the forecast period. The generator segment is estimated to hold the largest share of the monitoring relay market, by application, in 2019.

The market is segmented by geography into North America, Europe, Asia Pacific, the Middle East & Africa, and South America. North America is estimated to hold the largest share of the monitoring relay market in 2019, followed by Europe and Asia Pacific. The large share of North America can be attributed to the

6. Competitive Landscape
1. The global monitoring relay market is expected to grow at a CAGR of around 6% during the forecast period.

2. The market is highly competitive with the presence of a large number of manufacturers. The key players in the market are ABB Ltd., Siemens AG, Schneider Electric SE, General Electric Company, and Eaton Corporation PLC.

3. The market is fragmented with the presence of a large number of small and medium-sized manufacturers.

4. The key players are focused on expanding their product portfolio and geographic presence to gain a competitive edge in the market.

5. The market is expected to witness a high degree of competition in the coming years.

6. The key players are expected to focus on mergers and acquisitions to expand their market share.

7. Company Profile
A company profile is a professional introduction of the business and aims to inform the audience about its products, services, and competencies. It can be used as a marketing tool to attract investors and clients who might be interested in the company. A company profile is essentially a resume for a business that includes basic information such as the company’s history, locations, products, and services.

A company profile should be well-written and free of errors. It should also be concise and to the point. It should include the company’s mission statement and a brief description of its products or services. The company profile should also include information on the company’s competitive advantages and any awards or recognition it has received.

The company profile should be updated regularly and should be reviewed by a lawyer or other professional to ensure that it is accurate and compliant with applicable laws.

When writing a company profile, remember to:

– Keep it brief

– Use simple language

– Focus on the company’s strengths

– Highlight what makes the company unique

– Include the company’s mission statement

– Avoid making any promises that the company cannot keep

If you are not sure how to write a company profile, there are many templates and examples available online. You can also hire a professional writer or marketing firm to help you create an effective company profile.

8. Conclusion
The global monitoring relay market size is expected to register a CAGR of over 6% during 2020-2024.

The market is driven by the growing need for effective monitoring of industrial equipment. In addition, the rising adoption of energy management systems is anticipated to boost the growth of the monitoring relay market.

The market is fragmented with the presence of several major players. ABB Ltd., Siemens AG, Schneider Electric SE, and Eaton Corporation PLC are some of the key players operating in the market.

ABB Ltd.

ABB Ltd. is one of the leading manufacturers of monitoring relays. The company offers a wide range of monitoring relays for various applications including overcurrent, earth fault, and voltage. ABB Ltd. has a strong global presence and offers its products in more than 100 countries.

Siemens AG

Siemens AG is a leading player in the monitoring relay market. The company offers a wide range of monitoring relays under the brand name SIRIUS. Siemens AG has a strong global presence and offers its products in more than 190 countries.

Schneider Electric SE

Schneider Electric SE is one of the leading manufacturers of monitoring relays. The company offers a wide range of monitoring relays under the brand name Merlin Gerin. Schneider Electric SE has a strong global presence and offers its products in more than 150 countries.

Eaton Corporation PLC

Eaton Corporation PLC is one of the leading manufacturers of monitoring relays. The company offers a wide range of monitoring relays for various applications including overcurrent, earth fault, and voltage. Eaton Corporation PLC has a strong global presence and offers its products in more than 175 countries.

Key Players Covered

Some of the major companies that are present in the global monitoring relay market are Eaton, Schneider Electric, ABB, Rockwell Automation, Siemens Ltd, Novatek-Electro, CARLO GAVAZZI Inc., Mors Smitt, Pilz India Pvt Ltd. Bender GmbH & Co. KG, OEM Automatic Ltd, Omron Corporation, Elko EP, Minilec Group, E. Dold & Söhne KG, and ETI Electrotechnical, among others.

Segmentation

 

ATTRIBUTES    

 

DETAILS
 

By Application

 

 

    • Level Monitoring
    • Current Monitoring
    • Voltage Monitoring
    • Temperature Monitoring
    • Others
 

By Phase

 

 

    • Single Phase
    • Three Phase
 

By End-User

 

 

    • Residential
    • Commercial
    • Industrial
 

By Geography

 

 

    • North America (the USA and Canada)
    • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
    • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
    • Latin America (Brazil, Mexico, and Rest of Latin America)
    • Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
 

By Application

 

 

    • Level Monitoring
    • Current Monitoring
    • Voltage Monitoring
    • Temperature Monitoring
    • Others
 

By Phase

 

 

    • Single Phase
    • Three Phase
 

By End-User

 

 

    • Residential
    • Commercial
    • Industrial

Eaton, Schneider Electric, ABB, Rockwell Automation, Siemens Ltd, Novatek-Electro, CARLO GAVAZZI Inc., Mors Smitt, Pilz India Pvt Ltd. Bender GmbH & Co. KG, OEM Automatic Ltd, Omron Corporation, Elko EP, Minilec Group, E. Dold & Söhne KG, and ETI Electrotechnical, among others.

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