A relay is a type of switch that can be operated both electrically and manually. It is used to control one electrical circuit by opening and closing the contacts of another circuit. A relay is made up of an electromagnet and a set of contacts. The mechanism of switching contacts takes place with the help of an electromagnet. A protection relay is an electronic device that receives inputs in the form of current, voltage, temperature, or resistance and compares them to set points and provides outputs. Outputs can include visual feedback in the form of indicator lights and/or an alphanumeric display, alarms, communications, control warnings, and turning the power off and on.
Technavio’s analysts forecast the global motor protection relays market to grow at a CAGR of 4.54% during the period 2017-2021.
Covered in this report The report covers the present scenario and the growth prospects of the global motor protection relays market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The market is divided into the following segments based on geography: • Americas • APAC • EMEA
Technavio’s report, Global Motor Protection Relays Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors • ABB • General Electric • Siemens • Rockwell Automation • Schneider Electric
Other prominent vendors • Alstom • Itron • Littelfuse • Mitsubishi Electric • NR Electric • S&C Electric • SEL
Market driver • Rising need for modernization of substations • For a full, detailed list, view our report
Market challenge • Rising competition from local vendors • For a full, detailed list, view our report
Market trend • Emerging markets for solid-state devices • For a full, detailed list, view our report
Key questions answered in this report • What will the market size be in 2021 and what will the growth rate be? • What are the key market trends? • What is driving this market? • What are the challenges to market growth? • Who are the key vendors in this market space?
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