India Protective Relay Market Outlook (2023-2029) | Growth, Share, Industry, Size, Value, Revenue, Companies, Analysis, COVID-19 IMPACT, Trends & Forecast

India Protective Relay Market | Country-Wise Share and Competition Analysis

In the year 2021, China was the largest exporter in terms of value, followed by Germany. It has registered a growth of 40.8% over the previous year. While Germany registered a decline of -21.12% as compared to the previous year. In the year 2017, Germany was the largest exporter followed by China. In terms of Herfindahl Index, which measures the competitiveness of countries exporting, India has a Herfindahl index of 1745 in 2017 which signifies moderately concentrated also in 2021 it registered a Herfindahl index of  1549 which signifies moderately concentrated in the market.

India Protective Relay Market - Export Market OpportunitiesTopics Covered in India Protective Relay Market Report

India Protective Relay Market report thoroughly covers the market by voltage, end-user, technology, and application. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

India Protective Relay Market Synopsis

India Protective Relay Market is witnessing rapid growth and is projected to attain more significant growth over the forecast period on account of infrastructure development, rising power demand, grid modernization initiatives, and focus on grid reliability and safety. 

According to 6Wresearch, the India Protective Relay Market size is estimated to rise significantly during 2023–2029. India has been experiencing growth in electricity consumption owing to urbanization, growing population, and economic growth. This rise in demand for electricity in the country has stimulated investments in transmission and distribution infrastructure, leading to an expansion in demand for protective relays in order to improve the reliability and stability of grids. The government’s focus on modernization and infrastructure development has extended the power industry. Projects like new power plants, lines, transmission, grid expansions, and substations have driven the demand for protective relays as it helps in protecting critical assets as well as ensure efficient electricity delivery. The demand for a stable and reliable power supply expands as many sectors in the country continue to expand and grow. These protective relays have been playing a key role in averting electrical faults as well as securing expensive equipment, making them a key part of industrial power systems. Government incentives and policies aims to promote the use of these advanced technologies as well as ensure secure and stable power supply can further drive the demand for these protective relays in the country. These factors have been supporting the India Protective Relay Market Growth.

COVID-19 Impact on India Protective Relay Market

Project delays, disruptions in supply chains, decreased investments, shift in energy demand, workforce constraints, focus on grid resilience, and technological advancements were some of the key challenges faced by the Protective Relay Market in India. Numerous infrastructure projects, including those related to transmission, and power generation experienced delays on the back of the lockdown measures as well as social distancing protocols.  The disruptions in the supply chain affected manufacturing and distribution. Restrictions on trade, transportation limitations and factory closure led to delays in the supply of finished products and components. Reduction in capital expenditure by businesses and utilities slowed down the demand for protective relays. 

India Protective Relay Industry: Key Players

Some of the most crucial players running in this prominent market include:

• Schneider Electric India, Inc.
• ABB India
• Siemens India
• General Electric (GE) India
• Mitsubishi Electric India
• Eaton India
• Megawin Switchgear Corporation
• Omicron Energy Solutions India, Inc.
• C&S Electric India, Inc.
• Eastern Copperfields Trading

Market by Voltage

On the basis of voltage, Protective Relay Market in India is fragmented into Low, Medium, and High. The medium voltage segment will propel this market in the coming years. 

Market by Technology

According to Bhavya, Senior Research Manager, 6Wresearch, the digital & numeric relay is projected to grow in the coming years due to the growing emphasis on substation automation and implementation of smart grid. 

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• India Protective Relay Market Outlook
• Market Size of India Protective Relay Market, 2022
• Forecast of India Protective Relay Market, 2029
• Historical Data and Forecast of India Protective Relay Revenues & Volume for the Period 2019 - 2029
• India Protective Relay Market Trend Evolution
• India Protective Relay Market Drivers and Challenges
• India Protective Relay Price Trends
• India Protective Relay Porter's Five Forces
• India Protective Relay Industry Life Cycle
• Historical Data and Forecast of India Protective Relay Market Revenues & Volume By Voltage for the Period 2019 - 2029
• Historical Data and Forecast of India Protective Relay Market Revenues & Volume By Low for the Period 2019 - 2029
• Historical Data and Forecast of India Protective Relay Market Revenues & Volume By Medium for the Period 2019 - 2029
• Historical Data and Forecast of India Protective Relay Market Revenues & Volume By High for the Period 2019 - 2029
• Historical Data and Forecast of India Protective Relay Market Revenues & Volume By End-User for the Period 2019 - 2029
• Historical Data and Forecast of India Protective Relay Market Revenues & Volume By Utilities for the Period 2019 - 2029
• Historical Data and Forecast of India Protective Relay Market Revenues & Volume By Industrial for the Period 2019 - 2029
• Historical Data and Forecast of India Protective Relay Market Revenues & Volume By Railways for the Period 2019 - 2029
• Historical Data and Forecast of India Protective Relay Market Revenues & Volume By Others for the Period 2019 - 2029
• Historical Data and Forecast of India Protective Relay Market Revenues & Volume By Technology for the Period 2019 - 2029
• Historical Data and Forecast of India Protective Relay Market Revenues & Volume By Electromechanical & Static Relay for the Period 2019 - 2029
• Historical Data and Forecast of India Protective Relay Market Revenues & Volume By Digital & Numerical Relay for the Period 2019 - 2029
• Historical Data and Forecast of India Protective Relay Market Revenues & Volume By Application for the Period 2019 - 2029
• Historical Data and Forecast of India Protective Relay Market Revenues & Volume By Transmission line for the Period 2019 - 2029
• Historical Data and Forecast of India Protective Relay Market Revenues & Volume By Busbar for the Period 2019 - 2029
• Historical Data and Forecast of India Protective Relay Market Revenues & Volume By Transformer for the Period 2019 - 2029
• Historical Data and Forecast of India Protective Relay Market Revenues & Volume By Feeder for the Period 2019 - 2029
• Historical Data and Forecast of India Protective Relay Market Revenues & Volume By Generator for the Period 2019 - 2029
• Historical Data and Forecast of India Protective Relay Market Revenues & Volume By Motor for the Period 2019 - 2029
• Historical Data and Forecast of India Protective Relay Market Revenues & Volume By Others for the Period 2019 - 2029
• India Protective Relay Import Export Trade Statistics
• Market Opportunity Assessment By Voltage
• Market Opportunity Assessment By End-User
• Market Opportunity Assessment By Technology
• Market Opportunity Assessment By Application
• India Protective Relay Top Companies Market Share
• India Protective Relay Competitive Benchmarking By Technical and Operational Parameters
• India Protective Relay Company Profiles
• India Protective Relay Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Voltage

• Low
• Medium
• High

By End-User

• Utilities
• Industrial
• Railways
• Others

By Technology

• Electromechanical & Static Relay
• Digital & Numerical Relay

By Application

• Transmission Line
• Busbar
• Transformer
• Feeder
• Generator
• Motor
• Others