Protective Relay Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Voltage (Low, Medium, High), By Protective Mechanism (Motor Protection, Feeder Protection, Transformer Protection, Transmission Line, Others), By Industry Vertical (Manufacturing, Energy & Power, Others), And By Geography - Forecasts From 2023 To 2028

  • Published : Dec 2023
  • Report Code : KSI061610522
  • Pages : 114

The global protective relay market is projected to grow at a CAGR of 7.06% over the forecast period, increasing from US$4,983.739 million in 2021 to US$8,036.784 million by 2028.

 The adoption of smart grid technology for efficient energy management is being driven by the simultaneous increase in energy usage and the large expenditures being made in infrastructure projects across different regions. As a result, there will likely be a significant increase in demand for protective relays because they are essential to parallel systems' ability to reduce the risk of damage from any system failures. Moreover, the growing usage of protection relays in power transmission and distribution network systems and the substituting of modern numerical relays for old electromechanical and static relays will also accelerate the market's growth rate.

Increasing demand for renewable energy

The main factor driving demand for protective relays over the projection period is the growing requirement for solar power as well as the extended installation and modernization of the smart grid. Protective Relaying Devices (PRD) are used by a smart grid in a range of applications and operational layers to automatically prevent or lessen service interruptions, power condition problems, and power outages. They are designed to ensure that, if a network component fails, the supply to end users is not disrupted.

Further, rapid industrialization and the power industry's growing need for sustainable energy resources are two major factors driving the market's growth. The increasing use of renewable electrical resources has increased product utilization at different operating phases in the smart grid network, with the aim of preventing or reducing power disruptions. Furthermore, market expansion is supported by the global expansion of power substation structures. India's power consumption rose by 8.687% yearly to 1,624.158 billion units (BU) in 2022-23, according to data from the Power Ministry. This increase was largely driven by a rise in thermal generation.

Moreover, the International Energy Agency (IEA) projects that global renewable power generation will rise by over 75% from 2020 levels to around 2,400 GW between 2024 to 2027. This amount is equivalent to the current global capacity of nuclear and conventional fuels combined. The increase in global electricity capacity until 2026 is anticipated to come from renewable sources, with solar photovoltaics accounting for almost all of it at over half. Consequently, during the projected period, the growing use of renewable energy sources is anticipated to fuel market expansion.

It is projected that the protective relay market in the USA will grow steadily. 

The growing need to update outdated power infrastructure and meet growing electricity demand is driving the protective relay industry in the United States. The deployment of sophisticated relay technology is driven by smart grid initiatives, integration of renewable energy sources, and strict regulatory compliance. Growing apprehensions over cybersecurity and grid resiliency also fuel industry expansion. Protective relay systems are becoming more appealing to utilities due to ongoing technology improvements and an increased focus on power quality.

According to NIST, manufacturing made $2.3 trillion, or 12.0% of the total GDP of the United States, in 2021. Manufacturing's value contribution, both direct and indirect, was projected to have contributed 24% of the GDP. 10.6% of the output of the United States' manufacturing sector in 2020 was of foreign origin due to the importation of 18.2% of its intermediate products and services. As per the Current Population Survey, the manufacturing sector in the United States employed 14.7 million workers in 2021, accounting for 9.6% of the total employment in the country.

Market Key Developments

  • In February 2023, ABB initiated the Relay Retrofit Programme to upgrade some SPACOM protection relays to the most recent REX610 protection and control technologies. The REX610 all-in-one protection relay is a versatile, sustainable, and future-proof option since it is made to adjust to the demands of changing power systems.
  • In November 2022, Siemens has grown the number of Reyrolle protection devices in its lineup with the introduction of the 7SR46. The main use of the Reyrolle 7SR46 protection relay is to supply earth fault and overcurrent protection in medium voltage distribution transformer stations. This protective relay is a complement to a wide range of protection relays designed for industrial and distribution grids. The protection device, which is mounted in a ring main unit, instantly disconnects network cables when it senses a cable problem.
  • In February 2022, Schneider Electric upgraded its EasyPact EXE vacuum circuit buster series, which connects large corporate buildings, industrial facilities and building infrastructure to the energy grid, to include the newest generation thermal tracking technology. The novel device integrates IoT sensors to give facility managers, panel builders, and original equipment producers a more straightforward, eco-friendly, and secure customer experience.

Protective Relay Market Scope:


Report Metric Details
Market Size Value in 2021 US$4,983.739 million
Market Size Value in 2028 US$8,036.784 million
Growth Rate CAGR of 7.06% from 2021 to 2028
Base Year 2021
Forecast Period 2023 – 2028
Forecast Unit (Value) USD Million
Segments Covered Voltage, Protective Mechanism, Industry Vertical, and Geography
Regions Covered North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies Covered ABB, Siemens, Fujitsu, Schneider Electric, Omron, SEL Group, General Electric, Coto Technology, Littlelfuse, Ashida Electronics Pvt. Ltd.
Customization Scope Free report customization with purchase



  • By Voltage
    • Low
    • Medium
    • High
  • By Protective Mechanism
    • Motor Protection
    • Feeder Protection
    • Transformer Protection
    • Transmission Line
    • Others
  • By Industry Vertical
    • Manufacturing
    • Energy & Power
    • Others
  • By Geography
    • North America
      • By Voltage
      • By Protective Mechanism
      • By Industry Vertical
      • By Country
        • United States
        • Canada
        • Mexico
    • South America
      • By Voltage
      • By Protective Mechanism
      • By Industry Vertical
      • By Country
        • Brazil
        • Argentina
        • Others
    • Europe
      • By Voltage
      • By Protective Mechanism
      • By Industry Vertical
      • By Country
        • United Kingdom
        • France
        • Germany
        • Italy
        • Others
    • Middle East and Africa
      • By Voltage
      • By Protective Mechanism
      • By Industry Vertical
      • By Country
        • Saudi Arabia
        • UAE
        • Others
    • Asia Pacific
      • By Voltage
      • By Protective Mechanism
      • By Industry Vertical
      • By Country
        • China
        • Japan
        • India
        • Thailand
        • Taiwan
        • Indonesia
        • Others

Frequently Asked Questions (FAQs)

The global protective relay market is expected to reach a total market size of US$8036.784 million in 2028.
Protective Relay Market was valued at US$4983.739 million in 2021.
The protective relay market is projected to grow at a CAGR of 7.06% over the forecast period.
The protective relay market has been segmented by voltage, protective mechanism, industry vertical, and geography.
The main factor driving demand for protective relays over the projection period is the growing requirement for solar power as well as the extended installation and modernization of the smart grid.


1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline


2.1. Research Data

2.2. Assumptions


3.1. Research Highlights


4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis


5.1. Introduction

5.2. Low

5.3. Medium

5.4. High


6.1. Introduction

6.2. Motor Protection

6.3. Feeder Protection

6.4. Transformer Protection

6.5. Transmission Line

6.6. Others


7.1. Introduction

7.2. Manufacturing

7.3. Energy & Power

7.4. Others


8.1. Introduction

8.2. North America

8.2.1. By Voltage

8.2.2. By Protective Mechanism

8.2.3. By Industry Vertical

8.2.4. By Country United States Canada Mexico

8.3. South America

8.3.1. By Voltage

8.3.2. By Protective Mechanism

8.3.3. By Industry Vertical

8.3.4. By Country Brazil Argentina Others

8.4. Europe

8.4.1. By Voltage

8.4.2. By Protective Mechanism

8.4.3. By Industry Vertical

8.4.4. By Country United Kingdom France Germany Italy Others

8.5. Middle East and Africa

8.5.1. By Voltage

8.5.2. By Protective Mechanism

8.5.3. By Industry Vertical

8.5.4. By Country Saudi Arabia UAE Others

8.6. Asia Pacific

8.6.1. By Voltage

8.6.2. By Protective Mechanism

8.6.3. By Industry Vertical

8.6.4. By Country China Japan India Thailand Taiwan Indonesia Others


9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisition, Agreements, and Collaborations


10.1. ABB

10.2. Siemens

10.3. Fujitsu

10.4. Schneider Electric

10.5. Omron

10.6. SEL Group

10.7. General Electric

10.8. Coto Technology

10.9. Littlelfuse

10.10. Ashida Electronics Pvt. Ltd.




Schneider Electric


SEL Group

General Electric

Coto Technology


Ashida Electronics Pvt. Ltd.