Global Relay Test Sets Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Relay Test Sets Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Due to the critical nature of protection relays, testing during the commissioning stage is crucial for confidence in the operational safety of an electrical system. Additionally, testing on a regular basis is necessary to ensure correct operation is maintained.

Relay testing spans from the couple of points test in a single-phase overcurrent relay to the most complex end-to-end schemes. Choosing the suitable relay test set depends much on the application or type of protection relay to be tested (overcurrent, distance, differential, voltage, single or 3-phase relay testing, etc.), the generation of the relay (electromechanical, analogue, digital, more and more frequent with IEC 61850 performance), the test scenario (e.g. type testing, commissioning, diagnostic/corrective testing, maintenance), the relay testing frequency (and consequent maintenance), etc. All this may lead to choose one kind or another relay test set.

Market Overview:

The latest research study on the global Relay Test Sets market finds that the global Relay Test Sets market reached a value of USD 162.64 million in 2022. It’s expected that the market will achieve USD 235.28 million by 2028, exhibiting a CAGR of 6.35% during the forecast period.

Market Risk

Relay Test Sets is composed of LCD screen, power supply, GPS module, etc. The cost of raw materials accounts for a large proportion of the total cost. The fluctuation of raw material price will directly affect the cost of raw materials. Due to the fluctuation of market supply and demand and the promotion of capital market, the prices of different raw materials show different trends. Generally speaking, this will be a fluctuating state.
For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry. Having an understanding of industry rivals is vital to successfully market a product. Positioning pertains to how the public perceives a product and distinguishes it from competitors. A business must be aware of its competitors marketing strategy and pricing and also be reactive to any changes made. The Relay Test Sets industry is facing a fierce competitive position. Many companies have been doing business in this industry. They pay more attention to R&D, product innovation, channel construction and customer relationship management, trying to gain greater market share and competitive advantage.

Region Overview:

From 2023-2028, Europe is estimated to witness robust growth prospects.

Company Overview:

The top three companies are OMICRON, Megger, Doble, with the revenue market share of 34.64%, 13.90%, 11.87% in 2021.

OMICRON

OMICRON is an international company serving the electrical power industry with innovative testing and monitoring solutions. Product range includes test systems for power transformers, current and voltage transformers, circuit breakers, rotating machines, power lines, grounding systems and cables. With monitoring solutions even in-service monitoring of high-voltage assets such as generators, motors, power transformers and cables are possible.

Megger

For over 100 years, Megger has been the premier provider of electric test equipment and measuring instruments for electrical power applications. The trademark was first registered in May 1903 and is jealously guarded by the company. Although Megger is best known for its world-famous range of insulation testers, Megger provides a full-service solution to meet your electrical test and measurement needs. Its products provide testing solutions in the most critical maintenance areas including cable fault locating, protective relay testing, and power quality testing.

Segmentation Overview:

Among different product types, Alternating Current segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Electrical Utilities segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Relay Test Sets market covered in Chapter 3:

Doble
NF Corporation
OMICRON
HAOMAI ELECTRIC TEST EQUIPMENT CO.,LTD
Onlly
SMCint
Huazheng Electric Manufacturing (Baoding) Co., Ltd.
Tesient
Megger
PONOVO
Wuhan Huatian Electric Power Automation Co., Ltd.

In Chapter 4 and Chapter 14.2, on the basis of types, the Relay Test Sets market from 2018 to 2029 is primarily split into:

6 Phase Type
3 Phase Type
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Relay Test Sets market from 2018 to 2029 covers:

Electrical Utilities
Large Industry
Rail Network
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)