The global medium to high voltage (MVHV) protective relay industry has been forecast to more than double in value before the end of the decade, increasing from a market value of $2.2 billion in 2011, to be worth $5.2 billion by 2020, with the developing countries playing an important part in the global protective relay industry
On-going economic expansion and urbanisation across Brazil, Russia, India and China (BRIC) are expected to be the major drivers for growth in the global MVHV protective relay market.
When combined, power consumption in the BRIC nations increased at a compound annual growth rate (CAGR) of 7.9% during the period 2006-2011, and is forecast to continue at a CAGR of 6% from 2012 to 2020 - outstripping the predicted global growth rate of 4%.
China alone accounted for 27% of the worldwide MVHV protective relay industry in 2011 and this share has been predicted to grow substantially.
Industry experts are suggesting that the Chinese share of the market will enlarge from a valuation of $705 million in 2012, to a huge $2.1 billion by 2020, representing a CAGR climb of 14.9%.
In comparison, the US MVHV protective relay industry is expected to display relatively modest growth, from $566 million in 2012 to $777 million by 2020, at a CAGR of 4%.
Key players within the MVHV protective relay market include; ABB, Siemens, Alstom and Schneider Electric, SEL, and GE.
For more information on the medium to high voltage protective relay industry, see the latest research: MVHV Protective Relay Market Report
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