Industry Background:
A motor protection relay is a type of switch that can be operated and reset both automatically 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 and the motor protection relay depends on the size and voltage it consumes.
According to AMA Research, the market for Motor Protection Relays is expected to register a CAGR of 5.45% during the forecast period to 2027. This growth is primarily driven by Need for Protecting the Motor from Internal Faults for Maintaining its Lifespan
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | K Units |
Value Unit | Value (USD Billion) |
Key Companies in Study | Schneider Electric (France), Eaton (United States), General Electric Grid Solutions (France), ABB (Switzerland), Siemens AG (Germany), Schweitzer Engineering Laboratories (SEL) (United States), Mitsubishi Electric Corporation (Japan), Rockwell Automation, Inc (United States), PBSI Group (United Kingdom) and Omron Corporation (Japan) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Globally, a noticeable market trend is evident Introduction of Digital Relays for offering Flexibility and Self Checking
. Major Manufacturers, such as Schneider Electric (France), Eaton (United States), General Electric Grid Solutions (France), ABB (Switzerland), Siemens AG (Germany), Schweitzer Engineering Laboratories (SEL) (United States), Mitsubishi Electric Corporation (Japan), Rockwell Automation, Inc (United States), PBSI Group (United Kingdom) and Omron Corporation (Japan) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
March 2020 - ABB upgraded REX640 protection relay that enlarge communication security and flexibility in advanced power generation and distribution applications. REX640 supports a variety of communication protocols, such as IEC 60870-5-104 for power system automation. and November 2018 - Littelfuse Inc. completed the acquisition of Monolith Semiconductor Inc., a start-up company based in Round Rock, Texas that specializes in the development of silicon carbide. This acquisition will help Littelfuse Inc to serve the growing power electronics market
Regulatory Insights:
"National Electrical Manufacturers’ Association (NEMA) ICS 2 and International Electrotechnical Commission (IEC) 60947. NEMA and IEC standards evolved separately with distinct intentions, creating the differences apparent today. The NEMA philosophy was to design to a standard “frame” size to allow interchangeability among different manufacturers and to handle the worst-case applications. IEC, which originated in Europe, emphasized space and cost savings by applying only the required capacity to the load being served. Unlike NEMA, IEC does not categorize starters into specific frame sizes but instead uses utilization categories (e.g., AC-3, AC-4) to rate devices."
Market Drivers
- Need for Protecting the Motor from Internal Faults for Maintaining its Lifespan
- Growing Machine and Automation is Increasing the Need for Protection of Motor
Market Trend
- Introduction of Digital Relays for offering Flexibility and Self Checking
- Increasing usage of Motor Protection relays in Industrial Motor
Restraints
- Negative Environmental effects Associated with Motor Protection Relays
- Stringent Regulatory Norms
Opportunities
Advancing the Technology used in Production of Motor Protection Relays for Better safety and Improving Efficiency, Accuracy and Reliability of Motor Protection Relays for better Performance
Challenges
High Production, Maintenance and Repairing Cost of Motor Protection Relays
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Motor Protection Relays Study Sheds Light on
The Motor Protection Relays Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Motor Protection Relays industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Motor Protection Relays industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.