Global Medium Voltage (MV) Protection Relay Market Analysis By End User (Utilities, Industrial, Renewable, Marine)
2021 - 2028 Global Medium Voltage (MV) Protection Relay Market
The Global Medium Voltage (MV) Protection Relay Market is accounted for $954.97 million in 2020 and is expected to reach $1,677.98 million by 2028 growing at a CAGR of 7.3% during the forecast period. Expansion of transmission & distribution networks and upgrade of existing substations and feeder line protection are the major factors propelling the market growth. However, the lack of investments from governments in grid stability is hampering market growth.
Some of the key players profiled in the Medium Voltage (MV) Protection Relay Market include ABB, Eaton, Fanox, General Electric, Larsen and Toubro, Mitsubishi Electric, Powell Industries, Rockwell, Schneider Electric, Schweitzer Engineering Laboratories, Siemens, Solcon Industries, Terasaki, Toshiba, and Woodward.
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