Market Share of Protective Relay Industry
The protective relay market is highly competitive and fragmented. Some prominent players in the protective relay market include ABB Ltd, Siemens AG, Toshiba Corporation, Mitsubishi Electric Corporation, and Schneider Electric. Companies sustain intense competition by launching products, investing in research and development, forming partnerships, and making acquisitions.
August 2023 - ABB has launched a retrofit program that aims to replace outdated protection devices with new multi-functional devices. The program is designed to increase the lifespan of switch gears and ensure that equipment is future-proofed for an ever-growing electrical grid.
August 2023 - Siemens launched SIRIUS 3UG5 line monitoring relays that monitor grid stability, ensure proper system operation, and extend the service life of components such as motors or compressors. They are ideal for critical areas like hospitals or the process industry that require a high-quality, fail-safe power supply.
Protective Relay Market Leaders
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ABB Ltd.
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Schneider Electric SE
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Mitsubishi Electric Corporation
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Siemens AG
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Bender GmbH & Co. KgG
*Disclaimer: Major Players sorted in no particular order
