About Motor Protection Relays
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.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | North America |
Unit | Value (USD Billion) |
CAGR | 5.45% |
Competition among existing players is due to the Motor Protection Relays market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Motor Protection Relays Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Motor Protection Relays market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
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) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Lovato Electric inc. (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Motor Protection Relays market by Type (Electromagnetic Relay, Solid States Relays, Hybrid Relay, Thermal Relay and Reed Relay), Application (Air-conditioning Compressor Motor, Conveyors Motor, Cranes/Hoists Motor, Lifts Motor and Others) and Region.
On the basis of geography, the market of Motor Protection Relays has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Voltage, the sub-segment i.e. High Voltage will boost the Motor Protection Relays market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Operation, the sub-segment i.e. Automatic Reset will boost the Motor Protection Relays market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Automotive Industry will boost the Motor Protection Relays market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Introduction of Digital Relays for offering Flexibility and Self Checking and Increasing usage of Motor Protection relays in Industrial Motor
Market Growth Drivers:
Need for Protecting the Motor from Internal Faults for Maintaining its Lifespan and Growing Machine and Automation is Increasing the Need for Protection of Motor
Challenges:
High Production, Maintenance and Repairing Cost of Motor Protection Relays
Restraints:
Negative Environmental effects Associated with Motor Protection Relays and 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
Market Leaders and their expansionary development strategies
In 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
In August 2023, Siemens has launched a new generation of line monitoring relays. The SIRIUS 3UG5 line monitoring relays combine proven technology with new functions and applications. The relays are the easiest way to monitor standards-compliant grid stability and quality, ensuring proper system operation and a long service life of components such as motors or compressors.
"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."
Key Target Audience
Motor Protection Relays Manufacturers, Motor Protection Relays International Traders, Motor Protection Relays Distributors and Suppliers, Research and Development Institutes, Financial institutes and Venture Capital, Motor Protection Relays Regulatory Bodies, Upstream and Downstream Buyers and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.