Protective Relay Market: Global Industry Analysis and Forecast (2023-2029)

Protective Relay Market size was valued at US$ 2.23 Bn. in 2022 and the total revenue is expected to grow at a CAGR of 5.9% through 2022 to 2029, reaching nearly US$ 3.34 Bn.
Protective Relay Market Overview:

A protective relay is a device that detects a defect in the circuit breaker's operation and isolates the faulty component from the rest of the system. The protective relay is an important component of the circuit protection system because it ensures that an electrical circuit operates safely. The magnitude of a quantity like current or power may cause a protective relay to react. Working and restraint coils, groups of induction discs, telephone-relay connections, and phase-shifting networks are all used in protection relays.