The Global Three-Phase Current Relays Market size is expected to reach USD 1.2 billion by 2028, growing at a CAGR of 5.7% during the forecast period (2021–2028). The major factors driving this growth are the high demand from industrial and commercial applications, coupled with an increasing need for safety and protection in residential buildings due to increased power fluctuations.
Three-phase current relays (TPCLs) are contactors that detect and operate in response to three-phase faults or overloads. TPC has two sets of contacts, one set for overcurrent protection and the other for undercurrent detection. When a fault is detected by an associated circuit breaker, it trips open before any damage can occur on the line side equipment due to overcurrent conditions. The main types of TPCLs are single-phase current relays (SPCR), cutout type TPCRs, auxiliary type TPCR's with and without auxiliary switchgear enclosure as well as four-wire load break detectors (FWLBD).
On the basis of Types, the market is segmented into Undercurrent detection and Over-current detection.
Undercurrent detection is a type of three-phase current relay that can be used to detect the magnitude and direction of an electric current. This relay has two input terminals connected in series with the line, one for measurement voltage or potential difference between each phase and ground respectively; it also includes a control electrode, normally open contact located at DC side of power supply that pierces undercurrent when turned on. The device detects any out-of-balance currents through measuring voltages across the phases or from sensing unbalanced electromagnetic forces generated by electromechanical relays driven closed by magnetic fields created by alternating currents flowing through lines.
An over-current detection device is used to detect the occurrence of over-current in a three-phase power system and it works when all lines are closed. These devices work by detecting current flowing into one side of an open line, while the other two sides are isolated from earth ground. The amount of voltage differential will be proportional to the magnitude of the fault current. Most detectors use semiconductor technology for their operation.
On the basis of Application, the market is segmented into Industrial Use, Commercial Use, and Residential Use.
The use of three-phase current relays in industrial applications is expected to witness significant growth during the forecast period. For example, a substation uses many different types of equipment such as transformers, circuit breakers, and other devices for power transmission. These equipment are very expensive that's why they need protection from overloads or short circuits. Three-phase current relays sense changes in voltage and immediately shuts off these machines when there is an abnormal condition present so that it can be corrected before more damage occurs.
The use of Three-Phase Current Relays in commercial settings includes applications such as power plants, substations, and buildings. These three types of locations have different needs for current detection which is why the market has specific requirements for each type. For example, power plants need an under-current detection system because it protects against ground faults or upstream breakdowns that may cause a voltage surge to pass through the line and damage equipment downstream on other phases. On the contrary, substation protection systems require overcurrent protection where they monitor live lines from coming into contact with grounded ones (i.e., phase to neutral). Finally, building protection systems are used more frequently than any other application because their use can detect potential problems before they happen while also providing safety for the people who are in or around them.
The residential use of Three-Phase Current Relays is limited because it has to be installed in a three-phase electrical panel. However, as the development and usage of homes with more than two phases increases, so will the need for this product. Three-phase current relays are also used in residential use for ground fault protection. The primary function of a three-phase current relay is to detect currents on the neutral and safety legs, typically less than 50A, that exceed preset limits set by codes or standards.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The North American region holds the largest market share due to the high demand for industrial use in this region. The residential industry is comparatively larger in the U.S., which drives large-scale growth of the Three-Phase Current Relays Market during the forecast period.
The major drivers for growth are cost savings through energy efficiency in industrial process equipment due to the use of power limiting devices such as current relays; the increased need for electrical safety systems by OEMs owing to the increasing number of accidents related to electricity in commercial buildings; rising demand from the residential sector due to an increase in home automation products such as LED lights and electric vehicles which require protection against overcurrent. The growth can also be attributed to an increase in construction and infrastructure development activities, which are anticipated to drive demand for three-phase current relays across all segments.
Up Market Research published a new report titled “Three Phase Current Relays Market research report which is segmented by Types (Under-Current Detection, Over-Current Detection), By Applications (Industrial Use, Commercial Use, Residential Use, Others), By Players/Companies ABB, Eaton, OMRON, ELKO EP”.
|Report Attributes||Report Details|
|Report Title||Three Phase Current Relays Market Research Report|
|By Type||Under-Current Detection, Over-Current Detection|
|By Application||Industrial Use, Commercial Use, Residential Use, Others|
|By Companies||ABB, Eaton, OMRON, ELKO EP|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||239|
|Number of Tables & Figures||168|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Under-Current Detection, Over-Current Detection and By Application Industrial Use, Commercial Use, Residential Use, Others.
Some of the companies that are profiled in this report are:
Three Phase Current Relays Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Three Phase Current Relays Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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