Protective Relay Market Insights Video

According to Cognitive Market Research, the global protective relay market size is USD 2258.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 6.00% from 2024 to 2031.

• North America held the major market of more than 40% of the global revenue with a market size of USD 903.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.
• Europe accounted for a share of over 30% of the global market size of USD 677.46 million.
• Asia Pacific held the market of around 23% of the global revenue with a market size of USD 519.39 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.
• Latin America market of more than 5% of the global revenue with a market size of USD 112.91 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
• Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 45.16 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031.
• The medium held the highest protective relay market revenue share in 2024.